Latest News & VACUL Headlines
- League Engages With Senators on Interchange, Overdraft; Urges Lawmakers to Leave Current Systems in Place
May 9, 2022Your League closely monitored two key Congressional hearings last week covering interchange and overdraft protection programs, while also joining with our credit unions and other financial services trades in writing Congress about the dangers and unintended consequences of altering the current regulatory models governing interchange and overdraft programs.
- Economic Update Examines Fed's Updated Monetary Policy, Inflation
May 9, 2022CUNA Senior Economist Dawit Kebede explains the possible impact the Federal Reserve’s updated monetary policy will have on inflation through 2023 in CUNA's latest Economic Update.
- How Many People Own Crypto? Here’s What One New Survey Found
May 9, 2022A new study shows that more than one-third of consumers between the age 18-54 own cryptocurrency, with people ages 18-34 most likely to own it (37%), followed by those age 35-54 (33%).
- Credit Reporting Companies, Furnishers Have Obligations to Assure Accuracy in Consumer Reports
May 9, 2022The Consumer Financial Protection Bureau (CFPB) recently filed two friend-of-the-court (“amicus”) briefs, arguing credit reporting companies and furnishers have responsibilities with respect to accuracy – with no exceptions for legal issues.
- League, The United Methodist Credit Union Meet with Congressman McEachin
May 6, 2022The Virginia Credit Union League held a very productive meeting with Congressman Donald McEachin (D-4th) on May 5, 2022 at United Methodist Credit Union (TUMCU). VACUL President/CEO Carrie Hunt and TUMCU President/CEO Jim Eads had a very enlightening discussion with the Congressman, discussing the great and innovative work done by TUMCU and other Virginia credit union for their members and communities.
- FHA Makes Change for Certain Post-Foreclosure Sales
May 6, 2022The Federal Housing Administration on Thursday added a 30-day buyer preference for certain home sales from its default inventory, and it could put more of those in the hands of owner-occupants, nonprofits and governmental entities.
- Higher Interest, Rising Prices, Fewer Listings: A Bad Mix for Mortgages
May 6, 2022Rising interest rates and elevated prices have caused sales of new homes to drop, tightening the mortgage market for banks and credit unions.
- CUs Allegedly Hit With Ransomware
May 6, 2022Two more credit unions have allegedly been compromised in ransomware attacks, according to respective postings on two criminal organizations’ websites. ransomware attacks have shifted from encrypting an organization’s data and demanding a ransom to unlock it, to stealing the information, posting a sample on their website, and then threatening to make all of the data public if the organization does not pay the ransom. Sometimes the criminals do both—encrypt the data and also hold it for ransom.
- Vehicle Sales Rise in April, But Still Down More Than 20% YoY
May 6, 2022Total vehicle sales rose to 14.3 million annualized units in April from 13.4 million annualized units in March, but monthly sales levels were down 21.9% year over year, according to newly released data.
- NCUA Chairman Todd M. Harper Remarks at Inclusiv’s 2022 Annual Conference
May 6, 2022National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke before the audience of Inclusiv’s 2022 Annual Conference Session in San Juan, Puerto Rico.