Latest News & VACUL Headlines
- Retired NCUA Examiner David Nichols Passed Away March 22
March 28, 2022We are saddened to hear of the passing of David Nichols, a longtime NCUA examiner and a former League employee.
- 2021 HMDA Data on Mortgage Lending Now Available
March 25, 2022The Home Mortgage Disclosure Act (HMDA) Modified Loan Application Register (LAR) data for 2021 are now available on the Federal Financial Institutions Examination Council’s HMDA Platform for approximately 4,316 HMDA filers.
- HCFS Announces Updates to March Committee Schedule
March 25, 2022House Committee on Financial Services, announced the following schedule updates for the month of March.
- Hampton Roads Educators Credit Union Awards 5 Scholarships
March 25, 2022Hampton Roads Educators Credit Union (HRECU) awarded five scholarships to local high school seniors and school employees.
- CFPB Director Chopra Statement on Appraisal Task Force Report
March 25, 2022Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra issued a statement yesterday regarding the final report of the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE).
- US Banks See 188 Net Branch Closings in February
March 25, 2022U.S. banks and thrifts opened 72 branches and permanently closed 260 in February, leaving the total number of active branches at 80,481, according to S&P Global Market Intelligence data.
- U.S. Senate Democrats Press Banks to Scrap Overdraft Fees
March 25, 2022A group of U.S. Senate Democrats is pressing large U.S. banks to scrap or significantly reduce overdraft and other fees they charge customers with insufficient funds.
- CUNA HR & Organizational Development Council Conference Addresses Current Industry Issues and Challenges
March 25, 2022The CUNA HR & Organizational Development Council Conference Committee knows first-hand that HR leaders and associates have dealt with a slate of challenges unlike most other disciplines in the industry. The conference will be held April 24-27 at Hilton Orlando Lake Buena Vista.
- Measures Risk Understating Housing Costs
March 25, 2022Federal Reserve Governor Christopher Waller said longer-run structural issues will continue to put upward pressure on home prices and rents even as the central bank begins a campaign to raise borrowing costs.
- CFPB Expands UDAAP Reach to Include Discrimination
March 25, 2022On March 16, 2022, the CFPB published a revised examination procedure guide (Guide) for unfair, deceptive, or abusive acts or practices (UDAAP). In its press release, the CFPB states that the agency is now targeting discrimination as an unfair practice in connection with all financial products and services and not just credit products. This is a serious change in the CFPB’s stance on UDAAP and discrimination. As such, credit unions may want to review the Guide and their own practices to understand how this change may affect their business.