Latest News & VACUL Headlines
- Spring 2022 Supervisory Highlights Part I: Auto Servicing, Consumer Reporting, Credit Card Account Management, Debt Collection, and Deposits
May 11, 2022The Consumer Financial Protection Bureau (CFPB) recently released its Supervisory Highlights covering issues arising during examinations between July 2021 and December 2021.
- BayPort Foundation Charity Golf Classic Raises More Than $110,000 Toward its Mission
May 11, 2022The BayPort Foundation is excited to announce that it has raised $113,170 at its first-ever Charity Golf Classic event, hosted on April 28, 2022. Forty local businesses sponsored the inaugural tournament along with the 84 golfers who played the award-winning golf course at the James River Country Club in Newport News.
- Agencies Release Revised Interagency Questions and Answers Regarding Flood Insurance
May 11, 2022NCUA and other banking regulatory agencies today jointly issued revised questions and answers (Q&As) regarding federal flood insurance law and the agencies’ implementing regulations. These Q&As replace those originally published by the agencies in 2009 and 2011 and consolidate Q&As proposed by the agencies in 2020 and 2021. The revised Q&As reflect significant changes to the flood insurance requirements made by federal law in recent years.
- Cybersecurity Resources Available as War in Ukraine Poses Enhanced Cyber Threats to Credit Unions
May 11, 2022CUNA’s cybersecurity webpage contains resources for credit unions—especially small credit unions—to help them prepare for threats presented by current geopolitical events. The Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) recently issued several alerts on increased cyberthreats because of the war in Ukraine.
- Support Spanish-Speaking Members with Spanish-Language Disclosures
May 11, 2022To help financial institutions better support Spanish-speaking communities, the CFPB has made available Spanish translations of several disclosures.
- Women Credit Union CEOs Debut Mentorship Program
May 11, 2022A credit union advocacy group formed by women leaders is launching a training program to make sure its members are able to grow their organizations and avoid the need for consolidation.
- ABNB Hires Elaine Cuevas as Director of Training
May 10, 2022ABNB Federal Credit Union welcomes Elaine Cuevas as its new Director of Training. She will report to Lisa Church, Vice President of Service and Solutions.
- Credit Unions Foster Financial Well-Being in Members, Survey Shows
May 10, 2022Credit unions’ unique characteristics produce significant pro-consumer benefits, according to CUNA’s 2022 National Voters Poll. Conducted in January, the poll shows credit union characteristics unambiguously translate to greater financial resilience and higher levels of financial well-being for credit union members.
- New Report Finds Half of All Credit Union Industry Assets at Risk from Climate Change
May 10, 2022Ceres and the Filene Research Institute have released a new report that finds thousands of U.S credit unions have significant unaddressed risk arising from the climate crisis. This first-of-its-kind analysis provides insights on how credit unions can respond to the climate crisis, mitigate their risks, and become part of a system-wide solution.
- As the Secondary Market Rethinks Risks, So Too Must Lenders
May 10, 2022From the start, the Biden-era Federal Housing Finance Agency has been focused on its public mission, but now that the pandemic has receded it’s additionally assessing the government-sponsored enterprises’ risks in line with an exit from conservatorship.