Latest News & VACUL Headlines
- US Threatens Crypto Exchanges, Financial Institutions Aiding Russia
March 31, 2022The U.S. will personally hold accountable any cryptocurrency exchange, financial institution or individual who helps Russia get around sanctions, according to a report by CNBC.
- Bank/BNPL Lender Divide Dominates Comments to CFPB
March 31, 2022One theme emerging in the Consumer Financial Protection Bureau’s request for public comments about buy now/pay later loans is that consumers need clarity over what they're getting into.
- Corporate Check Fraud Reported
March 31, 2022Credit union cashier's checks and/or corporate checks that closely resemble credit union authentic checks have been presented for payment at financial institutions in connection with scams. Slight alterations in check color, check stock, logo, or location of key credit union check branding elements have been reported. In many cases, Routing & Transit Number (RTN) and MICR information are accurate.
- US Housing Market: 2022 Opens With 19.2% House Price Surge
March 31, 2022House prices in the U.S. rose even further by January-end, increasing 19.2% year over year, based on the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
- Net Neutrality Concerns Raised in House FCC Hearing as Agency Remains Deadlocked
March 31, 2022Federal communications authorities and lawmakers on both sides of the aisle agreed that all Americans need to be connected to the internet, but some partisan broadband issues were in the air at a March 31 hearing.
- Rep. Waters Introduces Legislation to Combat Appraisal Bias
March 30, 2022The House Financial Services Committee Tuesday held a hearing to examine bias and discrimination in the home appraisal process where Representatives recognized the seriousness of this topic and discussed how Congress, regulators, and other entities may be able to address appraisal bias more effectively. During the hearing, Chairwoman Maxine Waters, D-Calif., introduced the Fair Appraisal and Inequity Reform Act of 2022, which incorporates recommendations from the Biden Administration's Property Appraisal and Valuation Equity (PAVE) task force.
- Tidewater Chapter's April 14 Meeting Features Overview of Overdraft Services, Issues
March 30, 2022The Tidewater Chapter is pleased to announce that we’ll be featuring an Environmental Scan on Overdraft Services at our April Meeting. We look forward to being joined by, Shanda Reaves a current member of Filene’s i3 program.To register, please email Lindsey at lberry@1stAdvantage.org by April 8 at noon. The flyer has all of the details for the event.
- Expanded Anti-Discrimination Guidelines Create Compliance Challenge for US FIs
March 30, 2022Financial institutions are scrambling to comply with heightened anti-discrimination standards across a range of financial services after the federal consumer watchdog agency issued new guidelines without industry input.
- Strong Loan Growth, Margin Expansion Cannot Save US Bank Earnings in 2022
March 30, 2022Bank earnings will fall by 8.42% in 2022, S&P Global Market Intelligence projects in the newly released U.S. Bank Market Report, as an especially challenging year-over-year comparison will mitigate the benefits of higher interest rates.
- Omnibus Spending Package Includes 'Adjustable Interest Rate (LIBOR) Act'
March 30, 2022The Consolidated Appropriations Act, 2022 includes an important update via the Adjustable Interest Rate (LIBOR) Act, which addresses the replacement of the London Interbank Offered Rate (LIBOR) in existing contracts.