Latest News & VACUL Headlines
- NCUA Chairman Todd M. Harper Message to the NCUA’s Employees on the Agency’s Accomplishments in 2021
January 24, 2022In a letter to NCUA employees, Chairman Todd M. Harper notes the agency's accomplishments in 2021.
- NCUA Board's Jan. 27 Meeting to Include Briefing on COVID Relief Legislation
January 21, 2022The NCUA board will be briefed on the expiration of COVID-19 related legislation and propose a rule on succession planning at its Jan. 27 meeting. The meeting is scheduled to begin at 10 a.m. ET and will be streamed live on NCUA.gov.
- ‘Archaic’ Restrictions Prevent CUs from Empowering Rural Communities
January 21, 2022Credit unions are eager to be a rural community lending partner, but archaic charter and field-of-membership restrictions prevent most from helping those communities, CUNA wrote to the House Agriculture Committee Thursday. Rural credit unions serve 9.7 million members – over one-fifth of the nation’s rural population.
- Consumer Reports Will Give Financial Apps Same Scrutiny It Gives Appliances
January 21, 2022Consumer Reports is preparing to test consumer finance apps with the same rigor it applies to its evaluations of washing machines and mattresses.
- State Senate Passes CUs' 'Secondary Capital' Bill
January 21, 2022Our secondary capital bills continue to advance in the General Assembly, with the state Senate voting unanimously today to pass SB326. Companion bill HB268 is on the House floor and looks to pass that chamber next week. The legislation would fix the Virginia statute so that the NCUA’s Subordinated Debt Rule will not be in conflict with the Virginia Code.
- Federal Financial Institutions Examination Council Issues Statement of Principles on Examination Information Requests
January 21, 2022The Federal Financial Institutions Examination Council on behalf of its members today issued a statement announcing best practices for requesting examination information from supervised entities, and a common authentication solution for secure access to the FFIEC members’ supervision systems.
- League Submits HMDA Comment Letter Opposing Any Changes That Represent Added Compliance Burden for CUs
January 21, 2022Your League today submitted a comment letter in response to the Consumer Financial Protection Bureau's (CFPB) request for information on the Home Mortgage Disclosure Act. In our letter, we note our strong support for fair lending, but our opposition to any changes that would exacerbate an already burdensome and complex reporting system.
- Nomination of NCUA Chairman Harper Advances Out of Banking Committee
January 20, 2022The nomination of current NCUA Board Chairman Todd Harper to serve a full term on the NCUA Board was advanced to the full Senate by the Senate Banking Committee in a 17-7 bipartisan vote while meeting in Executive Session on Wednesday, according to a report from NAFCU. The full Senate will still need to consider the nomination for Harper to be confirmed.
- CUNA Files Brief with Appellate Court in FDCPA Lawsuit
January 20, 2022CUNA joined the Chamber of Commerce and multiple bank trade associations in filing an amicus brief this week in a Fair Debt Collection Practices Act (FDCPA) case that will be heard en banc by the 11th Circuit Court of Appeals. Hunstein v. Preferred Collection and Management Services, Inc. could expand the potential actions that would violate the FDCPA.
- FDIC, FinCEN Launch Tech Sprint for Digital Identity Proofing Solutions
January 20, 2022The Federal Deposit Insurance Corp. and the Financial Crimes Enforcement Network launched a tech sprint with the goal of developing solutions to measure the effectiveness of digital identity proofing at financial institutions and regulatory agencies.