Latest News & VACUL Headlines
- FOM Modernization Bill is Free-Market Solution to Address Financial Access
May 17, 2022CUNA wrote in support of several bills scheduled for markup Tuesday by the House Financial Services Committee, including the Expanding Financial Access for Underserved Communities Act, Close the ILC Loophole Act, and CDFI Bond Guarantee Improvement Act.
- FOM Modernization, ILC Loophole Legislation Scheduled for Markup
May 17, 2022The House and Senate are both in Washington, D.C., this week. The House Financial Services Committee will mark up several bills Tuesday, including the CUNA-League-supported Expanding Financial Access for Underserved Communities Act (H.R. 7003).
- USAA Scores Mobile Deposit Capture Patent Win Against PNC
May 17, 2022USAA continues to take on its large-bank rivals with patent suits. A court in Marshall, Texas, has awarded the San Antonio company $218 million in damages over its claims that PNC Bank infringed four USAA patents related to remote check deposit technology.
- ValleyStar Credit Union Announces New Executive Director for Its RISE Foundation
May 17, 2022ValleyStar Credit Union in collaboration with the ValleyStar RISE Foundation board announces Greta Kidd as its executive director to collaborate with communities to identify challenges and opportunities for the advancement of economic resilience.
- CUNA Mutual Group Report - Spring 2022
May 16, 2022CUNA Mutual Group's Spring 2022 Report, covering financial well-being, multi-cultural business strategy and workplace issues.
- House Committee to Mark Up Field-of-Membership Modernization Bill
May 16, 2022The House Financial Services Committee will mark up CUNA and League-supported the Expanding Financial Access to Underserved Communities Act starting Tuesday. The bill was introduced in March by Chairwoman Maxine Waters, D-Calif., in the days after the 2022 CUNA GAC.
- NCUA Already Has All the Third-Party Oversight Tools it Needs, NAFCU Tells Committee
May 16, 2022Ahead of a hearing at which an NCUA executive again called for Congress to provide the agency with third party oversight authority, NAFCU reiterated its opposition to NCUA being given such expanded authority.
- Interest Rate Increases to Cost Consumers $3B in Extra Card Interest; Plus, What Worries Cardholders
May 16, 2022Already worried about inflation and higher costs for everyday goods, Federal Reserve rate increases will cost Americans more than $3 billion in interest on credit cards this year, according to a new analysis.
- Value of Digital Wallets to Exceed $12 Trillion by 2026, New Study Forecasts
May 16, 2022The value of digital wallets transactions will exceed $12 trillion in 2026, from $7.5 trillion in 2022, according to a new study from Juniper Research. To capitalize on this substantial growth, the research predicts leading digital payment vendors will diversify their payment products to include new solutions, such as buy-now-pay-later and cryptocurrencies. Digital wallets are software-based systems that securely store users’ payment information for many payment methods in one location.
- First Mortgage Portfolio Niche Lending: Current Trends and Opportunities
May 16, 2022Are you making the absolute most of your ability to portfolio lend? We have already seen a dramatic increase in mortgage rates from the historic lows of the past few years. If rates continue to increase over the next few years, loans will become more expensive for your members – and this will put pressure on your credit union’s growth.