Latest News & VACUL Headlines
- Alanna McCargo Confirmed as Ginnie Mae President
December 17, 2021The U.S. Senate confirmed Alanna McCargo Dec. 14, by voice vote, as president of Ginnie Mae.
- NCUA Spotlights Cybersecurity Resources
December 16, 2021The NCUA’s Letter to Credit Unions (21-CU-15) highlights the agency's Automated Cybersecurity Evaluation Toolbox, which is intended to strengthen the credit union system’s resiliency against potential cyberattacks and remains one of the NCUA’s supervisory priorities.
- NCUA Says CUs Can Partner with Crypto Firms
December 16, 2021NCUA has published a set of guidelines aimed at clarifying federally insured credit unions’ (FICUs) authority to establish relationships with third-party providers that offer digital asset services to their members, including investments such as cryptocurrency. Learn more
- NCUA Board Meeting: Good News for CUs with Changes to NOL, Budget; Agency OKs CCULR
December 16, 2021The National Credit Union Administration Board tackled a full agenda today, including a number of high-profile items closely watched by the industry.
- Biden Nominates Thompson as FHFA Director
December 15, 2021President Joe Biden nominated Sandra Thompson on Tuesday to serve as director of the Federal Housing Finance Agency (FHFA).
- FinCEN Seeks Comments on Modernization of U.S. AML/CFT Regulatory Regime
December 15, 2021The Financial Crimes Enforcement Network (FinCEN) yesterday issued a request for information (RFI) seeking comments on ways to streamline, modernize, and update the anti-money laundering and countering the financing of terrorism (AML/CFT) regime of the United States. Learn more
- Treasury Announces Over $2 Billion in ECIP to 84 CUs
December 15, 2021Yesterday, Vice President Kamala Harris and Treasury Secretary Janet Yellen announced $8.7 billion of capital provided to community development financial institutions (CFDIs) from the U.S. Department of Treasury's Emergency Capital Investment Program (ECIP). Recipients here in Virginia include Freedom First Credit Union and Peoples Advantage Federal Credit Union.
- Ransomware Risks Drive the Need for Critical Cyber Loss Controls
December 15, 2021The ransomware business is booming and could be bringing in billions for some of its top players according to a Financial Crimes Enforcement Network (FinCEN) report. The report found suspicious ransomware-related payment transactions totaled around $590 million from January 2021 to June 2021. In addition to extortion demand increases, ransomware has grown in both frequency and severity. Learn more
- CFPB Fall 2021 Rulemaking Agenda
December 14, 2021CFPB published its Fall 2021 Agenda as part of the Fall 2021 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget (OMB). The Agenda lists the regulatory matters that CFPB plans to pursue during the period from Nov. 1, 2021 to Oct. 31, 2022. The complete Unified Agenda is available to the public at the following website: http://www.reginfo.gov.
- Voluntary Credit Union Diversity Self-Assessment Due Jan. 15
December 14, 2021CUNA and NCUA encourage federally insured credit unions to complete the Voluntary Credit Union Diversity Self-Assessment before Jan. 15, 2022. The self-assessment is a valuable tool for credit unions that want to commit to the principles of diversity, equity, inclusion, and belonging.