Latest News & VACUL Headlines
- NCUA Board Approves Proposed Rule to Recognize Electronic Pleadings and Communications
April 13, 2022NCUA identified sections of the Uniform Rules that should be modified to recognize electronic pleadings and communications in administrative hearings and other sections that require modification based on the experience of the agencies in administrative litigation.
- NCUA Releases Community Development Revolving Loan Fund Report to Congress
April 13, 2022The NCUA has issued its Community Development Revolving Loan Fund Report to Congress, which includes a complete list of grant and loan awardees and a breakdown of awardees and funding by state in 2021.
https://www.ncua.gov/files/publications/cdrlf-congressional-report-2021.pdf
- Here’s How Credit Unions Performed Overall to Kick Off 2022
April 12, 2022Credit union loans outstanding increased 1.0% in February 2022, compared to a 0.7% increase in January of 2022 and a 0.2% decrease in February of 2021, according to CUNA’s latest Monthly Credit Union Estimates.
- CUBroadcast: NCUA's Harper Addresses Consumer Financial Protection, Appraisal Bias
April 12, 2022NCUA Chairman Todd M. Harper appeared on CUBroadcast’s show this week for part 3 of a conversation with host Mike Lawson. Harper discusses the latest in consumer financial protection and mortgage lending appraisal bias. View the program.
- League's Comment Letter to CFPB on Fees: CUs' Fees Represent Cost of Doing Business, Some Fees Already Regulated
April 11, 2022We filed a comment letter today noting our concerns that the CFPB is attempting to move the financial service market towards a regime where all fees are included in the cost of credit. We believe this major market shift requires significant study, given that it would have a negative impact on credit unions and their members.
- Big US Banks to Contend with Recession Fears in 1Q2022 Earnings Reports
April 11, 2022Recession signals are raising concerns about the employment outlook and the prospect for an end to a long stretch of exceptional credit performance for the nation's big banks. Read more
- NCUA Releases OMWI Annual Report to Congress
April 11, 2022Today, the National Credit Union Administration released its Office of Minority and Women Inclusion (OMWI) annual report, which provides an overview of the NCUA’s diversity and inclusion programs and initiatives in 2021. The report also highlights the agency’s efforts to ensure fair and inclusive business practices as well as assess the diversity policies and practices of the entities it regulates.
- CFPB Director Chopra Addresses Community Bank, Credit Union Advisory Councils
April 11, 2022The Consumer Financial Protection Bureau (Bureau) held a joint meeting of its Community Bank Advisory Council and Credit Union Advisory Council last week. "Restoring relationship banking in the age of digitization is a key priority for the CFPB," Chopra said. "How can we preserve the benefits of local knowledge and direct customer relationships in a world where scale and automation feel like a business imperative to remain viable? How do we make sure that technology can be a vehicle to create more competitive intensity, rather than reinforce the power of dominant incumbents?" Learn more
- Navigating State Marijuana Laws Can Be a Hazy Issue
April 11, 2022A growing number of states and municipalities have introduced medical and recreational laws for marijuana use, with some jurisdictions now regulating an employer’s ability to test for marijuana while providing protections for users. With these laws evolving across the country, credit unions operating across multiple jurisdictions may be neglecting the need to review existing drug testing and substance abuse policies. This is particularly relevant for credit unions that employ “safety-sensitive” positions.
- CFPB Proposing Reg V Human Trafficking Amendment
April 11, 2022The CFPB has published at 87 FR 20771 in a recent Federal Register a proposed rule amending Regulation V that would implement amendments to the Fair Credit Reporting Act that assist consumers who are victims of trafficking. Learn more