Latest News & VACUL Headlines
- U.S. Pending Home Sales Drop for a Sixth Month in Worst Skid Since 2018
May 26, 2022A gauge of U.S. pending home sales fell in April for a sixth straight month as a steep climb in mortgage rates compounds affordability challenges.
- Tidewater Chapter Awards Scholarships Totaling $19,000
May 26, 2022The Tidewater Chapter awarded $19,000 in scholarships to deserving high school seniors at the chapter's recent annual Scholarship Night.
- Holiday Closing Signs
May 25, 2022Your League makes available holiday closing signs for the various federal holidays. Just a reminder that the League offices in Richmond and Lynchburg will close at noon on Friday, May 27 and will be closed on May 30 for Memorial Day.
- Langley for Families Foundation Raises Record-Breaking $520,000 at Charity Golf Classic
May 25, 2022Langley for Families Foundation hosted its eighth Annual Charity Golf Classic at Golden Horseshoe Golf Club in Williamsburg on May 17 and raised a record-breaking $520,000 in gross profits for local nonprofits.
- Senate Confirms Thompson to Full-Term as FHFA Director
May 25, 2022The Senate confirmed Sandra Thompson as director of the Federal Housing Finance Agency Wednesday by a 49-46 vote. Thompson has served as acting director since June 2021, and has met with CUNA leaders while at the agency.
- CFPB Reminds Credit Unions of States’ Enforcement Powers
May 25, 2022The CFPB published an Interpretive Rule this week that reminds credit unions that State agencies also have a role to play in regulation, as well. The Interpretive Rule does not actually provide any new regulatory requirements or substantive changes, but instead serves as more of a reminder of the role that state agencies can play when it comes to the financial services industry.
- CFPB Issues Advisory Opinion on ECOA and Reg B
May 24, 2022Two weeks ago, the Consumer Financial Protection Bureau (CFPB or bureau) issued an advisory opinion to clarify the Equal Credit Opportunity Act (ECOA) and its implementing regulation (Regulation B) prohibit discrimination against members during the life of a loan, not just during the application process.
- Central Bank Digital Currency Creation Needs ‘Serious, Exacting’ Consideration
May 23, 2022CUNA appreciates the Federal Reserve’s look into a central bank digital currencies but believes a focus on the issues the currency intends to solve and a more refined outline of its design is necessary.
- CISA Issues Emergency Directive on VMWare Vulnerabilities
May 23, 2022The Cybersecurity and Infrastructure Security Agency issued an emergency directive requiring federal civilian executive branch agencies running specific VMware products to apply updates or remove the products from networks.
- Fannie Mae Forecasts ‘Soft Landing Unlikely,’ Sees Recession in Latter 2023
May 23, 2022Persistent inflation, rising interest rates, and a slowdown of global economic growth are the primary contributing factors to updated expectations that full-year 2022 real GDP will grow at the reduced rate of 1.3%, 0.8% percentage points less than previously predicted, according to Fannie Mae.