Latest News & VACUL Headlines
- CFPB’s Fair Lending Annual Report to Congress Focuses on Racial and Economic Equity Issues and COVID-19 Recovery
May 10, 2022The CFPB released its annual Fair Lending Report to Congress last week detailing important fair lending work undertaken in 2021, which focused on racial and economic equity issues and the COVID-19 recovery.
- Rising Rates Demand NCUA Raise Permissible Interest Rate Ceiling, NAFCU Tells Agency
May 9, 2022NCUA should immediately raise the permissible interest rate ceiling to mitigate unnecessary interest rate risks facing federal credit unions, NAFCU told the agency in a letter.
- TransUnion Reports Inflation’s Rise Hitting Non-Prime Borrowers Hardest; Offers Forecast for What’s Ahead
May 9, 2022As inflation continues to rise,non-prime borrowers – those consumers with the riskiest credit profiles – have generally experienced the greatest impact to their wallets, according to a new study.
- Regulators Look to Tame the New Financial ‘Wild West’
May 9, 2022The new sheriffs in town looking to tame what’s being described as the “Wild West” of finance—the cryptocurrency space—are, ironically, primarily in Europe, and many crypto-company leaders are none-too-happy with the new lawmen, according to a new report.
- Not Just 757: 948 Area Code Added for Hampton Roads
May 9, 2022The 948 code launched Monday in the Greater Hampton Roads region due to the limited availability of “757” numbers.
- 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.