Latest News & VACUL Headlines
- TCPA News: What Isn't An Autodialer?
April 27, 2022The saga of the definition of “autodialer” continues; this time, focusing on equipment with the capacity to “produce” telephone numbers to be called via a random or sequential number generator. Here, we’ll take a look at a case out of the Eighth Circuit Court of Appeals, where various business establishments used a software service to deliver text messages to customers. (NAFCU Compliance Blog)
- Despite Stellar Credit Quality, Small Lenders Expect Economic Headwinds
April 27, 2022Small lenders are enjoying healthier loan portfolios while at the same time bracing for potential setbacks related to higher interest rates, inflation and more.
- Commonwealth's Credit Union Recognize UVA Community Credit Union's Alison DeTuncq with Lifetime Achivement Award
April 27, 2022UVA Community Credit Union President/CEO Alison DeTuncq has been awarded the James P. Kirsch Lifetime Achievement Award, the Virginia credit union system’s highest honor.
- League, Credit Unions Recognize Patsy Smith for Her Leadership, Contributions to System
April 27, 2022Patsy Smith, recently retired CEO of Petersburg-based Peoples Advantage Federal Credit Union, has been recognized by the Commonwealth's credit unions with the Eugene H. Farley Jr. Award of Excellence.
- Cryptocurrencies Offer Innovative Possibilities, But Also Pose Risks
April 26, 2022While the strategic path for credit unions may feel unclear, consumer demand for crypto cannot be ignored and the Filene Research Institute's latest report, The Path Forward for Crypto: What Credit Unions Need to Know, offers next steps for credit unions.
- CFPB Releases Annual Report to Congress on Fair Debt Collection Practices Act
April 26, 2022The Consumer Financial Protection Bureau’s annual report to Congress summarizes the Bureau’s activities to administer the Fair Debt Collection Practices Act (FDCPA) in 2021 as the primary federal regulator of the consumer debt collection industry. This report also includes activities conducted by the Federal Trade Commission (FTC) in 2021 in relation to debt collection. Learn more
- IRS Reminds Tax-Exempt Organizations of May 16 Filing Deadline
April 26, 2022The IRS is reminding tax-exempt organizations that operate on a calendar-year basis that certain annual information and tax returns they file with the IRS are due on May 16. State-chartered credit unions must file Internal Revenue Service (IRS) Form 990, or file for an extension, by May 16, 2022. Learn more
- FHA Adds 40-Year Mortgage Modification Option
April 26, 2022The Federal Housing Administration (FHA) announced on Monday that it is adding a new, 40-year mortgage modification option for mortgage servicers to use in conjunction with its partial claim option to assist additional borrowers who are behind on their mortgage payments for FHA Title II forward mortgages. This new loss mitigation home retention option is designed to help those borrowers who cannot achieve a minimum targeted 25 percent reduction in the Principal and Interest portion of their mortgage payment through FHA’s existing 30-year mortgage modification with a partial claim.
- Leagues, CUNA Write Banking Committees in Advance of Hearings with CFPB's Chopra
April 26, 2022Your League has joined with CUNA and our fellow leagues in reaching out via letter to the Senate Banking Committee and House Financial Services Committee in advance of the committees’ hearings with Consumer Financial Protection Bureau Director Rohit Chopra.
- CFPB Invokes Dormant Authority to Examine Nonbank Companies Posing Risks to Consumers
April 26, 2022The Consumer Financial Protection Bureau said Monday it will make more use of its "dormant" authority to conduct supervisory examinations of nonbank companies it believes pose risks to consumers, signaling plans to expand its oversight of firms in the burgeoning fintech sector. Learn more