Latest News & VACUL Headlines
- Cryptocurrency Demand Fuels Record Level of Private Equity Blockchain Investment
April 5, 2022Demand for cryptocurrency is sustaining record levels of private equity and venture capital investment in blockchain, the technology that powers it.
- Lookout for Scams Targeting Ukraine Relief Efforts
April 5, 2022Ukrainian relief efforts are being launched across the nation. Unfortunately, as with most national or global tragedies, the scam artists quickly arrive and prey on the empathy of individuals, including credit union members, with fundraising schemes. If you are making donations, it is always encouraged to conduct proper due diligence to ensure funds are going to legitimate organizations and recipients. Learn more
- FASB Clarification on Several CECL-Related Standards Updates
April 5, 2022The current expected credit losses (CECL) accounting standard was updated by the Financial Accounting Standards Board (FASB) March 31 in a media advisory.
- BayPort Donates $10,000 to The Ukrainian Credit Union Displacement Fund
April 5, 2022BayPort Credit Union announced it is donating $10,000 to The Ukrainian Credit Union Displacement Fund through the Worldwide Foundation of Credit Unions. Learn more
- OCC's Hsu Zeroes in On Large Regional Banks as Source of Systemic Risk
April 4, 2022Large regional banks could become the country’s next too big to fail firms, acting Comptroller Michael Hsu said, and the agency it looking at ways of incorporating resolvability into its bank merger review process.
- Largest Credit Union Deal for a Bank Delayed a Third Time
April 4, 2022VyStar Credit Union in Jacksonville, Florida, has extended the timeline to close its acquisition of Heritage Southeast Bank in Jonesboro, Georgia.
- NCUA Final Rule on 'Service Facility' Definition
April 4, 2022NCUA issued a Letter to Federal Credit Unions (22-FCU-02) on the final rule amending the definition of “service facility” for multiple common-bond credit unions. The rule became effective Dec. 27, 2021. The final rule provides that shared locations are service facilities for purposes of multiple common-bond federal credit union additions of groups, regardless of whether the federal credit union has an ownership interest in the shared branching network providing the locations,” the letter reads.
- Credit Unions Support 49th Running of Cherry Blossom Ten Mile Run
April 4, 2022The men’s and women’s winners made history and credit unions presented a check for $323,000 to Children’s Miracle Network (CMN) Hospitals Sunday morning at the Credit Union Cherry Blossom Ten Mile Run. Your League and a number of Virginia-based credit unions are sponsors of the run.
- NCUA Says It Could Meet Just One-Third of Requests from Smaller CUs
April 4, 2022NCUA was only able to cover approximately one-third of the requests it received for technical assistance from small credit unions during 2021.
- Ted Cruz Intro’s Bill to Prohibit Federal Reserve from Issuing Central Bank Digital Currency
April 4, 2022Sen. Ted Cruz (R-TX), a member of the Senate Commerce Committee, has introduced legislation to prohibit the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals. Cruz’s bill was cosponsored by Sens. Mike Braun (R-IN) and Charles Grassley (R-IA).