Latest News & VACUL Headlines
- BREAKING NEWS: Landmark FOM bill introduced in wake of CUNA GAC
March 9, 2022The CUNA/League-supported Expanding Financial Access for Underserved Communities Act was introduced by House Financial Services Committee Chair Rep. Maxine Waters, D-Calif., Wednesday. The bill would be the first significant overhaul of the Federal Credit Union Act since 1998 and would make several updates to credit union field of membership and member business lending requirements, including addressing credit unions’ ability to serve underserved and marginalized communities.
- Credit Quality Improves at US Credit Unions YOY in 4Q2021
March 9, 2022Credit quality improved year over year at U.S. credit unions in the fourth quarter of 2021 as net charge-offs and nonperforming assets both fell, according to S&P Global Market Intelligence data.
- Register Now for Call Report, CAMELS Webinars on March 8, 10
March 8, 2022This week, the NCUA is hosting two informative webinars on changes to the NCUA’s Call Report and CAMELS rating system.
- Biden to Sign Crypto Order as Industry Faces Sanctions Pressure
March 8, 2022President Biden is set to sign an executive order this week that will outline the U.S. government’s strategy for cryptocurrencies, according to several people familiar with the administration’s plans.
- Registration Open for March 23 NCUA Overdraft Protection Programs Webinar
March 8, 2022Overdraft protection programs are important to credit unions and their members, and the market landscape is changing. Credit unions can learn more about these programs and what market changes can mean on a March 23 webinar hosted by the National Credit Union Administration.
- Phishing Attacks and Business Email Compromise On The Rise
March 8, 2022The 2021 cyber threat landscape was significantly more active across the board, including credit unions. In fact, 77% of organizations faced Business Email Compromise (BEC) attacks in 2021 according to a Proofpoint study (2022 State of the Phish) of more than 600 IT security professionals. BEC often includes payroll redirect, supplier invoicing fraud, and fraudulent wire instructions connected with credit union mortgage or lending departments.
- Originations Hit a Record $4.4 Trillion in 2021
March 8, 2022The mortgage industry originated a record $4.4 trillion last year, activity led by record purchase lending volume and a surging cash-out refinance appetite, Black Knight revealed.
- CUNA Releases Talent Strategy Guide for Small Credit Unions
March 8, 2022CUNA’s Small Credit Union Committee released the Small Credit Union Talent Strategy Guide to address the challenges and opportunities for talent acquisition. Created in partnership with CUNA Mutual Group (CMG), the strategy guide leverages small credit unions’ unique position in the marketplace to find, attract, and retain talent.
- Regulators Expect to Release CRA Revamp as Soon as This Month
March 8, 2022Regulators expect to release CRA revamp as soon as this month.
- Credit Unions Kick-Start 2022 with 4 Bank Deals in 11 Days
March 8, 2022Credit unions started 2022 off with a bang, scooping up four U.S. banks in less than two weeks.