Latest News & VACUL Headlines
- CFPB Takes Action to Halt Prepaid Card Providers Siphoning Government Benefits
February 15, 2022The Consumer Financial Protection Bureau (CFPB) is taking action to halt prepaid card providers illegally siphoning money away from Americans through exclusive government benefit contracts. The CFPB issued a compliance bulletin today outlining the existing prohibitions against prepaid cards being the sole method for distributing government benefits. The bulletin underscores rules intended to protect market competition and to protect people’s right to have a choice in how they receive their money under the Electronic Fund Transfer Act (EFTA).
- Want to Run in the Cherry Blossom 10-Miler? Contact League for Guaranteed Race Entries
February 15, 2022The Virginia Credit Union League is a proud sponsor of the Credit Union Cherry Blossom Ten Mile Run® benefitting Children’s Miracle Network Hospitals, which will be held on April 3 in Washington, D.C.! With our sponsorship, we received 20 Guaranteed Race Entry Codes for the Run or the 5K Run-Walk. Contact us for a code.
- BayPort Foundation Raises Nearly $160,000 in First Year
February 15, 2022In its first year, the BayPort Foundation has raised $158,875 to support student scholarships and educational grants in the Greater Hampton Roads area.
- CUs Notch Another Win in Years-Long State-Level FOM Battle
February 15, 2022Marking another significant win in a state-level field-of-membership battle with bankers now stretching into its third year, a State Corporation Commission hearing examiner sided strongly with Virginia Credit Union and the League.
- Comments Filed; FinCEN States It May Reopen BOI Reporting Rule
February 14, 2022CUNA filed comments with FinCEN regarding the proposal on reporting requirements for beneficial ownership information. This proposal is one in a suite of expected proposals aimed at implementing the beneficial ownership database FinCEN was tasked with creating in the AML Act of 2020.
- NCUA Board Meets Feb. 17
February 14, 2022The NCUA Board revealed its agenda for the scheduled Feb. 17 meeting. The NCUA revealed their agenda for their Feb. 17 meeting.
- Regulatory Alert (22-RA-03) 2022 Truth in Lending Act (Regulation Z) Adjustment to Asset-Size Exemption Threshold
February 14, 2022The Consumer Financial Protection Bureau (CFPB) published annual adjustments for asset-size exemption thresholds under the Truth in Lending Act (TILA), as implemented by Regulation Z, which became effective on January 1, 2022. The asset-size thresholds exempt certain credit unions from escrow account requirements for higher-priced mortgage loans and specific qualified mortgages under Regulation Z.
- Bank-Fintech Partnerships Win Key Battle, But War is Far From Over
February 14, 2022Fintechs can more comfortably avoid state interest rate caps by partnering with banks after two recent court decisions — at least for now.
- Foreclosure Filings Hit Pandemic Highs in January, but Delinquencies Keep Falling
February 14, 2022Foreclosures by one measure rose to a pandemic high during January, but they and delinquencies overall remained far below long-term averages last quarter.
- Chartway’s Refreshed Brand Identity Conveys Its Promise to Help Individuals, Families Thrive
February 14, 2022Chartway is proud to announce its refreshed look/feel and new logo to reflect its promise to innovate and embrace change to serve its current members and the next generation. Learn more.