Latest News & VACUL Headlines
- States Work to Stifle Credit Union Acquisitions of Banks
April 1, 2022Several U.S. states are taking the matter of credit unions acquiring banks into their own hands.
- CU Overdraft Programs Designed with Members in Mind
April 1, 2022UW Credit Union President/CEO Paul Kundert testified before the House Financial Services Subcommittee on Consumer Protection and Financial Institutions Thursday for its hearing on overdraft programs. In advance of the hearing CUNA submitted its own letter for the record, in addition to a joint letter with the National Association of Federally Insured Credit Unions.
- Guidance From SEC Presses FIs Holding Crypto Assets for Members, Customers to Report Those Assets on Balance Sheets
April 1, 2022The U.S. Securities and Exchange Commission is pressing firms to account for crypto assets they’re holding on behalf of customers on their balance sheets. The guidance -- issued as a Staff Accounting Bulletin -- clarifies how the agency expects companies to apply existing accounting standards to digital assets. The new guidelines would also apply to any financial institutions that enter into this space, an SEC official told reporters.
- Virginia Credit Union: Delivering Focused Financial Education
April 1, 2022When Virginia Credit Union in Richmond teamed up with the Financial Health Network and George Fox University to conduct a series of member surveys, it learned that its female members struggled the most with financial health and confidence.
- House Passes Bill Decriminalizing Marijuana; Senate Fortunes Unclear
April 1, 2022The House on Friday passed legislation that would remove marijuana from the federal schedule of controlled substances, a move that comes as an increasing number of states have passed decriminalization laws.
- Repeat Offenders Beware…the CFPB is Looking at You
April 1, 2022Earlier this week, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra delivered a seemingly innocent speech regarding repeat offenders to a law school. Focusing on repeat offenders is a priority of the CFPB under Director Chopra’s leadership ... Learn more
- US Treasury Proposes 4 Digital Asset-Related Tax Reporting Requirements
March 31, 2022President Joe Biden's proposed 2023 budget included four new tax reporting requirements related to digital assets.
- NCUA Issues CDRLF Report to Congress
March 31, 2022The National Credit Union Administration released its 2021 Community Development Revolving Loan Fund (CDRLF) Report to Congress, highlighting the fund’s significant and positive impact on credit unions, their members, and their communities.
- FFIEC Has Updated the 2022 A Guide to HMDA Reporting: Getting It Right!
March 31, 2022The Federal Financial Institutions Examination Council (FFIEC) announced yesterday it has updated its 2022 A Guide to HMDA Reporting: Getting It Right.
- Fraud & Security: Are Credit Unions Protecting Their ACH Payments?
March 31, 2022ACH payments are popular with credit unions and their members. But are credit unions properly protecting faster payments fraud?