Latest News & VACUL Headlines
- Credit Unions are Best Way for Small Business to Access Services
March 30, 2022The Small Business Administration’s (SBA) government guaranteed lending programs epitomize successful public-private partnerships, CUNA wrote to the House Small Business Committee Tuesday. The committee conducted a hearing entitled “Catalyzing Economic Growth through SBA Community-Based Lending,” and CUNA noted its opposition to any proposals that allow SBA to implement a direct lending program.
- CUNA Calls for FY23 CDFI, CDRLF, CDP Funding
March 30, 2022CUNA wrote to the House Budget Committee Tuesday on appropriate funding levels for priorities important to credit unions and the communities they serve. President Joe Biden released his budget proposal Monday with several of those priorities addressed.
- CFPB: Overdraft Fees Can Price People Out of Banking
March 30, 2022In a blog post today, the CFPB takes aim at overdraft fees, noting that in 2019, banks and credit unions collected an estimated $15.5 billion through overdraft and non-sufficient funds fees. Overdraft fees can ultimately drive people out of banking altogether, charges the blog post.
- Three Rs of a Successful Consumer-Focused Overdraft Strategy
March 30, 2022It is undeniable that the overdraft service environment has changed in the last two to three years. In order to minimize the impact of industry changes and recent market shifts, now is a great time for credit unions to take a step back and re-evaluate their current overall overdraft strategy. Following are three key areas that can impact the degree to which your program meets consumer needs, simplify your next exam and help to avoid the risk of potential litigation, notes an article on CUInsight.
- Schenk: Expect Healthy Economic Growth
March 29, 2022CUNA economists say tomorrow should be much like today, but a little bit better. That’s what CUNA Chief Economist Mike Schenk told attendees of a recent CUNA Councils session, 2022 Economic Update.
- SAFE Act’s Future Now in Hands of Conference Committee
March 29, 2022It’s once again come down to a conference committee and backroom deals to decide what becomes of the credit union SAFE Banking Act, which would remove many of the federal prohibitions on financial institutions serving cannabis-related businesses.
- Four Virginia Congressional Reps Sign On as Co-Patrons for Marijuana Decriminalization Bill
March 29, 2022Members of Virginia's Congressional delegation have signed on to H.R.3617 (MORE Act) as co-patrons - Reps. Elaine Luria (D-2nd), Bobby Scott (D-3rd), Don Beyer (D-8th) and Gerald Connolly (D-11th). This bill decriminalizes marijuana.
- FDA Authorizes Second Booster Dose of Two COVID-19 Vaccines for Older and Immunocompromised Individuals
March 29, 2022The US Food and Drug Administration has expanded the emergency use authorization of the Pfizer and Moderna COVID-19 vaccines to allow adults age 50 and older to get a second booster as early as four months after their first booster dose of any COVID-19 vaccine.
- Biden Budget Has Increased CDFI, CDRLF Funding Amounts
March 29, 2022President Joe Biden’s FY23 budget proposal released Monday contains several items of interest to credit unions, including the Treasury’s CDFI Fund and NCUA’s Community Development Revolving Loan Fund.
- Home Inventory Won’t Return Until at Least 2024: Zillow
March 29, 2022It will take several years before the supply of homes for sale returns to pre-pandemic levels, but the market will likely get there by the end of 2024, according to the majority of experts surveyed by Zillow.