Latest News & VACUL Headlines
- Updates on Russian Sanctions
April 19, 2022As a refresher, there are two major sets of sanctions against Russian entities, the first is the “Russian Harmful Foreign Activities Sanctions” (RHFAS) and the second is the “Ukraine-/Russia-Related Sanctions” (URRS). These sanctions target specific individuals/entities, but do not ban all transactions and services with Russia. Nor do the sanctions ban all transactions and services with Ukraine. However, there are certain “covered regions” within Ukraine that are banned. Remember to stay vigilant as the situation continues to change.
- CFPB’s Housing Portal Offers Help for Servicemembers, Veteran Homeowners, and Renters
April 19, 2022The Consumer Financial Protection Bureau (CFPB) announced this week that information covering a wide range of financial situations can be found on the CFPB’s housing portal.
- Comments Submitted to CFPB in Response to RFI on Fees
April 18, 2022CUNA strongly objected to the Bureau's classification of a broad range of common financial services fees as “junk fees" in comments submitted to the CFPB last week. “The RFI characterizes a broad range of common fees in consumer financial services as so-called “junk fees” that obscure the true cost of financial services,” the letter reads, adding CUNA’s strong objection to this “deceptive language.” Your League has also commented.
- Letter Supporting SAFE Banking Act Sent to House Conferees of COMPETES Act
April 18, 2022CUNA wrote to the House Conferees of the America COMPETES Act in support of including the Secure and Fair Enforcement (SAFE) Banking Act in the final version of the legislation. The America COMPETES Act passed the House in February with the SAFE Banking Act attached, but passed the Senate without, so the differences will be worked out in conference committee.
- Bankers Fear CFPB Will Lower Cap on Credit Card Late Fees
April 15, 2022The Consumer Financial Protection Bureau is expected to seek to lower the cap on credit card late charges to safeguard cardholders from excessive fees imposed by issuers and from the effects of inflation.
- Mortgage Rates Hit 5% for the First Time in Over a Decade
April 14, 2022Average mortgage rates hit a new high over the past week, with the 30-year Freddie Mac benchmark reaching 5% for the first time in over a decade.
- NCUA’s New Guide Simplifies, Clarifies Federal Credit Union Charter Application Process
April 14, 2022The National Credit Union Administration released its new Charter Application Guide and other resources today to assist people who want to bring federally insured financial services to their communities by starting a federal credit union. Agency will host May 4 Webinar on the Updated Guide and Chartering Process.
- CUs, League Celebrate After Governor Signs Parity Measures into Law
April 13, 2022The Commonwealth’s credit unions are celebrating Gov. Glenn Youngkin’s signing of two parity measures for state-chartered credit unions, both of which are set to become law July 1. “These parity measures represent our commitment to ensuring credit unions have the tools they need to serve their members,” said Virginia Credit Union League President/CEO Carrie Hunt.
- Still Time to Register for Ignite 2022 | League Annual Meeting!
April 13, 2022We're so excited to welcome you to the Star City next week for Ignite 2022 | the League Annual Meeting! There's still time register. We can also help with hotel accommodations. Email us here!
- CUNA Supports SAFE Banking Inclusion in Final COMPETES Act
April 13, 2022CUNA wrote to House members Tuesday in support of including the Secure and Fair Enforcement (SAFE) Banking Act in the final version of the America COMPETES Act. The America COMPETES Act passed the House in February with the SAFE Banking Act attached, but passed the Senate without, so the differences will be worked out in conference committee.