Latest News & VACUL Headlines
- What the Exit of Facebook's Diem Means for Bank Stablecoins
January 31, 2022Meta's ambitions to back a cryptocurrency appear finished for now after the sale of the Diem stablecoin's assets, and the implications go beyond one company's retreat from the market. Diem has sold its technology assets to Silvergate Capital for $182 million. The federal government has signaled that it will likely require stablecoin issuers (American Banker article) to be either chartered banks or regulated in a nearly identical manner. That places existing chartered banks, including Silvergate, in a potentially favorable position over nonbank stablecoin issuers.
- Chartway Proudly Congratulates Two Leaders
January 28, 2022Chartway is proud to announce the promotion of two leaders to oversee its member solutions center. Zenesha Boney has been selected as Chartway’s director of alternative channels. Additionally, long-time team member, Mary Chavez, has been promoted to director of the member solutions call center.
- Virginia's Consumer Data Privacy Act Takes Effect January 2023
January 28, 2022We are less than one year away (Jan. 23, 2023) from Virginia’s Consumer Data Privacy Act (CDPA) becoming the law of the land. The provisions in the CDPA will affect businesses across the country, not just those based in Virginia.
- NCUA Issues Succession Planning Proposal
January 28, 2022NCUA issued a proposed rule on succession planning and heard briefings on supervisory priorities and the Central Liquidity Facility (CLF) Thursday. The board also finalized a rule on statutory inflation of civil money penalties. Comments on the succession planning proposal are due by April 4. View the Federal Register entry.
- Cybersecurity, Talent Recruitment Top 2022 Banking Concerns: CSI Survey
January 28, 2022Financial institution executives reported fighting cybercrime as their top concern for 2022, followed closely by recruiting and retaining talent amid the Great Resignation, according to a new survey from Computer Services, Inc. (CSI), a Paducah, Ky.-based provider of fintech and regtech solutions.
- NCUA Board Approves Proposed Rule on Succession Planning
January 27, 2022The National Credit Union Administration Board held its first open meeting of 2022 through a live webcast and approved a proposed rule on succession planning.
- CFPB Identifies Consumer Reporting Companies the Public Can Hold Accountable
January 27, 2022Today, the Consumer Financial Protection Bureau (CFPB) released its annual list of consumer reporting companies. The list identifies dozens of specialty reporting companies that collect and sell access to people’s data, including individuals’ finances, employment, check writing histories, or rental history records, often without their knowledge.
- 2022 Tax Season Has Started - Tips to Help You File an Accurate Return
January 27, 2022The IRS published the latest executive column, which features Ken Corbin, Commissioner, Wage and Investment Division, providing an overview of the 2022 filing season and tips to help file an accurate return.
- NCUA extends Credit Union Diversity Self-Assessment deadline to Jan. 31
January 27, 2022NCUA has extended the deadline to Jan. 31 to allow federal credit unions more time to complete and submit the voluntary Credit Union Diversity Self-Assessment. The original deadline was Jan. 15.
- Credit Union Representatives Visit State Lawmakers In Support of Legislation
January 27, 2022Credit union representatives from across the state visited the state Capitol Thursday in support of two measures being considered by the General Assembly. Credit unions met with key leaders, patrons and other lawmakers on two parity measures.