Latest News & VACUL Headlines
- CDFI Refresher and Helpful Resources
May 4, 2022The Federal Reserve Board published the first 2022 issue of its Consumer Compliance Outlook, which includes a feature article on Community Development Financial Institutions (CDFIs) and their impact on the financial system.
- FinCEN Asks Credit Unions to Help Fight Kleptocracy
May 2, 2022FinCEN recently published Advisory FIN-2022-A001 (the advisory), which addresses kleptocracy and “urges financial institutions to focus efforts on detecting the proceeds of foreign public corruption.” FinCEN notes that the Biden Administration has identified the fight against corruption as a “core national security interest.”
- ValleyStar RISE Foundation Exceeds Expectations to Raise Life-Saving Funds for Children’s Miracle Network Hospitals
May 2, 2022The ValleyStar RISE Foundation, the charitable arm of ValleyStar Credit Union, is thrilled to host The Big Tee Off golf tournament at Chatmoss Country Club in Martinsville, Virginia, on May 5, 2022. All funds raised will support Carilion Children’s Hospital located in Roanoke, Virginia.
- Fort Lee FCU Announces Upcoming Rebrand, New Name
April 29, 2022Fort Lee Federal Credit Union has released their upcoming new name, Homebase Credit Union. Along with the new name, the new logo and colors were revealed. The information was announced at their annual meeting on April 27, 2022, and it will become official in July of this year.
- NAFCU Compliance Blog: Litigation Roundup
April 29, 2022Litigation risks are always present and there is no shortage of litigious plaintiffs. Here are a few notable class action filings in the recent months.
- Chartway Promise Foundation Grants $62,500 to Roc Solid Foundation
April 28, 2022Chartway Federal Credit Union’s We Promise Foundation, has presented a charitable grant of $62,500 to Roc Solid Foundation, a Chesapeake-based nonprofit that builds hope for kids fighting cancer.
- CFPB Plans to Revisit the CARD Act, Older Regulations: Chopra
April 28, 2022Consumer Financial Protection Bureau Director Rohit Chopra told lawmakers Wednesday that the bureau plans to revisit and update older regulations such as the Credit Card Accountability Responsibility and Disclosure Act, known as the CARD Act, to lower credit card fees.
- Democratic senators Take Aim at Zelle and Its Bank Owners Amid Growing Fraud Scrutiny
April 28, 2022Two top Democrats on the Senate Banking Committee are demanding information from the bank-owned parent company behind Zelle detailing the payment network’s efforts to combat customer fraud.
- May 18 Virtual Event: Lending Landscape
April 28, 2022This virtual live webinar on May 18 from CUNA Mutual Group will discuss loan fraud trends, compliance issues, digital lending transformation, and ways that your members want you to link to their connected lives.
- ABNB Federal Credit Union Holds 62nd Annual Meeting; Re-Elects Board Members
April 28, 2022ABNB Federal Credit Union held its 62nd Annual Business Meeting April 26, 2022 and reinforced its commitment to serving members’ financial needs and giving back to the communities where it conducts business.