Latest News & VACUL Headlines
- Senate Banking Panel to Hold Powell, Brainard Hearings Next Week
January 5, 2022The Senate Banking Committee will hold separate hearings next week for Jerome Powell on his nomination to a second term as Federal Reserve chair and for Lael Brainard’s elevation to vice chair.
- CDC’s Latest Guidance On Isolation, Quarantine
January 5, 2022On Jan. 4, the agency posted the updated coronavirus isolation and quarantine recommendation, along with a rationale for the guidance. It continues to maintain that people without symptoms do not need a negative test result to resume interacting with others.
- CFPB: HMDA Filing Period Has Begun
January 5, 2022The CFPB has notified email update subscribers that the filing period for HMDA data collected in 2021 opened on Jan. 1, 2022. Access the HMDA Platform to begin the filing process for data collected in 2021 at https://ffiec.cfpb.gov/filing.
- As SOFR Gains Favor, Other Benchmark Rates Face Uncertain Future
January 4, 2022With the lights almost out on the scandal-plagued Libor interest rate, a successor touted by regulators has quickly become the leading benchmark for business loans, outdueling two alternatives that some banks prefer.
- Jan. 24 Deadline to Submit Comments on NCUA’s Draft Strategic Plan
January 4, 2022Comments on the NCUA's draft Strategic Plan are due on or before Jan. 24. Learn more
- CFPB Issued Annual Adjustment to Maximum Fee Credit Bureaus May Charge Consumers for File Disclosure
January 4, 2022Additional updates have been made to CU PolicyPro related to the CFPB recently issued annual adjustment to the maximum amount credit bureaus may charge consumers for making a file disclosure to a consumer under the Fair Credit Reporting Act (FCRA or Regulation V).
- 2022 Auto Lending: New Consumer Survey on Electric Vehicles Should Put Charge in Credit Unions’ Need to Respond
January 3, 2022Rapidly changing consumer attitudes make it clear credit unions will need to move even faster in 2022 and beyond when it comes to auto lending and relationships with not just dealers, but manufacturers.
- 2022 Cybersecurity: Analysis Finds Several Factors Driving Ongoing Growth in Ransomware Attacks
January 3, 2022Several factors are contributing to driving the number of ransomware attacks ever higher, a new analysis has found. One of the big factors: many ransomware-wielding attackers continue to rely on a number of cybercrime-as-a-service providers to support their ability to easily gain access to targets and steal data.
- Economist Doesn’t Expect Omicron, Rate Increases to Put Much of a Dent in Booming Home Market
January 3, 2022Don’t look for the effects of the Omicron variant or potential rate increases in 2022 to put much of a dent in the robust housing market, one economist is forecasting.
- FASB Told of Concerns by NAFCU Over Lack of Guidance on TDRs, Other Disclosure Issues
January 3, 2022NAFCU has sent a letter to the Financial Accounting Standards Board (FASB) sharing the association’s response to the Proposed Accounting Standards Board Update that eliminates accounting guidance for troubled debt restructurings (TDR) and enhances certain disclosure requirements.