Latest News & VACUL Headlines
- Virginia Budget Negotiators Signal They Are Close to a Deal
May 23, 2022State budget negotiators are so close to a deal that they’re telling fellow legislators to set aside June 1 as a possible date to return to the Capitol for a vote and urging them to wrap up haggling over any other bills held over from the regular session.
- How Data Analytics Helps Peoples Advantage Fulfill Its CDFI Mandate
May 23, 2022New tools have allowed the Virginia-based credit union to maintain certification while getting staff buy-in on goals that grow the business and improve the lives of those it serves.
- CFPB's Latest Existential Threat: Legal Challenges to Its Funding
May 23, 2022The Consumer Financial Protection Bureau again faces an existential threat in the courts — this time over whether the agency’s funding by the Federal Reserve System is constitutional.
- Comments Submitted on Money and Payments; 'The U.S. Dollar in the Age of Digital Transformation'
May 23, 2022CUNA submitted comments in response to the Federal Reserve’s request for comment (RFC) on its discussion paper, “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” CUNA appreciates the Federal Reserve’s consideration of central bank digital currencies (CBDCs) but believes this is only the start of the conversation and further investigation must focus on the issues the currency intends to solve.
- League Hosts Meetings with Rep. Wittman, Office of Rep. Spanberger
May 20, 2022Your League and credit unions hosted meetings this week with two Congressional offices -- Reps. Rob Wittman (R-1) and Abigail Spanberger (D-7th).
- FOM Modernization Bill Passes House Financial Services Committee
May 19, 2022The House Financial Services Committee advanced the CUNA-League-led Expanding Financial Access for Underserved Communities Act (H.R 7003) with a 27-22 vote. The bill represents the most significant proposed update to the Federal Credit Union Act since 1998.
- NCUA Statement on Committee Passage of Vendor Authority and Underserved Areas Bills
May 19, 2022National Credit Union Administration Chairman Todd M. Harper issued the following statement after the approval of H.R. 7022, the Strengthening Cybersecurity for the Financial Sector Act of 2022, and H.R. 7003, the Expanding Financial Access for Underserved Communities Act, by the U.S. House Committee on Financial Services today.
- CUNA Provides Feedback on Enhanced Call-Blocking Notification Code
May 19, 2022CUNA and other organizations provided feedback to a communications task force Wednesday regarding the use of an enhanced signaling protocol (SIP Code) for voice service providers to notify callers a voice service provider has blocked their call.
- Could Stablecoin Regulation Re-Risk the Banking System?
May 19, 2022As far as major market turmoil goes, banks escaped last week’s TerraUSD collapse largely unscathed. Terra and its corresponding crypto coin Luna plummeted last week, losing nearly all of their value and throwing the wider crypto market into a selloff.
- Mortgage Rates Actually Decline, But Application Volumes Remain Down
May 19, 2022Even though mortgages rates actually declined last week, both refinance and purchase loan demand declined, with total mortgage application volume down 11% for the week, according to the Mortgage Bankers Association's seasonally adjusted index.