Latest News & VACUL Headlines
- 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.
- Which Parent, if Anyone, is Teaching Kids About Finance? Here’s What New Survey Found
May 19, 2022Families have a long way to go in terms of preparing children to become financially self-sufficient, according to findings from a survey conducted by the National Financial Educators Council (NFEC). So which parent is more likely to teach kids about money?
- Support for Building Credit Access for Veterans Act Expressed by NAFCU
May 19, 2022Support for the Building Credit Access for Veterans Act of 2022 has been expressed by NAFCU in a letter to the House Veterans Affairs Committee. This draft mirrors legislation introduced in the Senate last year (S. 1838).
- FOM Modernization Markup Continues into Wednesday
May 18, 2022The House Financial Services Committee will continue its markup of several credit union-supported bills, including the Expanding Financial Access for Underserved Communities, Wednesday. The markup went into Tuesday evening before breaking for a series of votes on the House floor.
- Bipartisan Crypto Plan Would Create Oversight Body for Fintech
May 18, 2022Sen. Cynthia Lummis, R-Wyo., wants to create a new oversight body for emerging financial technologies that do not fall under the jurisdiction of existing regulators.
- With Bills in Markup, Trades Press Congress to Take Action
May 18, 2022CUNA and the state leagues continue to press Congress to support a number of bills that are in markup before the House this week. NAFCU weighed in on the legislation here.