Latest News & VACUL Headlines
- League, CUs Wrap Up Busy Week of Advocacy
March 4, 2022Credit unions and the League are wrapping up a busy and successful week of advocacy in Washington, D.C. and Richmond.
- Will Regulatory Scrutiny Chill Bank M&A This Year — or Hasten It?
March 4, 2022For banks, there's a new rush to find merger partners, and it's not just about an acquiring bank’s desire to enter new markets or add new business lines. Federal regulators’ amped-up scrutiny of bank mergers has raised fears that M&A activity could stall later this year, and that’s creating a sense of urgency to cinch deals now, according to bankers and industry advisors.
- Retailer Group Urges Congress to Call Off April Interchange Fee Hike
March 4, 2022The Merchants Payments Coalition is launching an advertising campaign urging policymakers to block a change in credit card interchange fees set to take effect next month.
- Biden’s CFTC Nominees Call for More Powers to Police Crypto
March 4, 2022President Biden’s four nominees to join the Commodity Futures Trading Commission told lawmakers that the main U.S. derivatives overseer should take on new responsibilities regulating cryptocurrencies.
- Reps Introduce Bipartisan FCU Act Update
March 4, 2022Reps. Juan Vargas (D-Calif.) and Anthony Gonzalez (R-Ohio) Tuesday introduced the CUNA-League supported Credit Union Board Modernization Act (H.R. 6889), to update the Federal Credit Union Act by modifying the requirement that credit union boards meet once a month to not less than six times per year.
- DOJ Launches Crackdown To Enforce Russia Sanctions; Powell Calls For 'Strong' Crypto Regs
March 4, 2022Sweeping sanctions against Russia over its invasion of Ukraine will be immediately and aggressively enforced, the U.S. Department of Justice said Wednesday, unveiling a task force of more than a dozen attorneys to hunt for violators and seize the assets of Russian oligarchs. Meanwhile, Federal Reserve Chair Jerome Powell told senators on Thursday that recent concerns that cryptocurrencies could potentially be used to skirt Russian sanctions are bolstering the case for stronger oversight of digital finance.
- CUNA Mutual Group Trends Report: CU Auto Loan Balances Expected To Finally Grow
March 4, 2022Credit unions will soon see their auto loan portfolios begin to grow again, CUNA Mutual Group’s latest Trends Report indicates.
- FHFA Announces Record Funding for Affordable Housing Programs
March 4, 2022The Federal Housing Finance Agency (FHFA) announced Monday that the Housing Trust Fund and Capital Management Fund would receive $1.138 billion from Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs). This represents the largest amount of funding provided to these programs by the GSEs to date.
- League Celebrating the Commonwealth's Credit Unions at CUNA Governmental Affairs Conference
March 1, 2022Virginia is well-represented at this year's CUNA Governmental Affairs Conference, with more than 130 attendees on hand from 18 Virginia-based credit unions.
- Home Prices Surge to Another High
March 1, 2022Annual home price appreciation continued unabated in January with growth accelerating at its fastest rate in decades and leading to overvaluation in some markets, according to CoreLogic.