Latest News & VACUL Headlines
- Toomey Unveils Stablecoin Bill Granting OCC Authority for Payments Charter
April 7, 2022The top Republican on the Senate Banking Committee unveiled legislation that would create a new federal license for stablecoin issuers and set baseline standards for consumer protection.
- Democratic State AGs Call on Four Big Banks to Eliminate Overdraft Fees
April 7, 2022More than a dozen Democratic attorneys general called on four major banks to scrap overdraft fees, saying they should join a small number of competitors by eliminating the “harmful junk fees.”
- CU Trades, Consumer Groups Ask Congress to Regulate Fintech Competition
April 7, 2022NAFCU and CUNA were among 11 banking and consumer groups that sent a letter to Congress to close a loophole that allows some companies to evade regulation the groups said is necessary to protect consumers and the financial system.
- Credit Unions Face Historic Pressure to Make Loans
April 7, 2022Two years since the start of the pandemic, the coronavirus's impact is still taking its toll on credit unions' balance sheets. A combination of members socking away savings and being hesitant to borrow because of the economic uncertainty surrounding the pandemic led to the lowest yield-on-asset ratio in credit union history.
- NCUA, FDIC to Co-Host Webinar on Fin Ed
April 7, 2022NCUA and the FDIC will co-host a webinar focused on youth workforce practitioners and the banks and credit unions that develop them on April 14 at 1 p.m. For more info, go here.
- Big Changes for Credit Union Financial Reporting in 1Q2022
April 6, 2022Credit unions are facing hundreds of changes to their financial reporting in the first quarter of 2022, as a call report restructured by the National Credit Union Administration takes effect.
- Vizo Financial Raises $62,525 for Ukrainian Credit Union Displacement Fund
April 6, 2022Vizo Financial Corporate Credit Union was ready and willing to join the Worldwide Foundation of Credit Union’s fundraising efforts for the Ukrainian Credit Union Displacement Fund. In doing so, the corporate credit union raised $62,525 in support of war-torn Ukraine over a period of just four weeks.
- League's Emerging Professionals Network Draws 30 at Richmond Event
April 5, 2022The Virginia Credit Union League’s Emerging Professionals Network held a networking working happy hour on March 30 at Hardywood Craft Brewery in Richmond.
- Letter to Credit Unions (22-CU-06) NCUA to Begin Phase 2 of Resuming Onsite Operations
April 5, 2022Based on new guidance from the Centers for Disease Control and Prevention (CDC) and the Safer Federal Workforce Task Force, the agency will enter the second phase (Phase 2) of resuming its onsite operations on April 11, 2022. Phase 2 permits NCUA staff to volunteer to work onsite, including conducting examination and supervision work at credit unions located in counties with low or moderate COVID-19 community levels. Read the Letter to Credit Unions
- NCUA Should Issue Succession Planning Proposal as Guidance
April 5, 2022CUNA supports the overall objective of NCUA’s succession planning proposal but feels the provisions would be more appropriate as guidance than regulation, it wrote to NCUA Monday. The proposal would require federal credit union boards of directors establish and adhere to process for succession planning for key positions.