Latest News & VACUL Headlines
- On-Demand Webinar & Live Q&A: Technology and Physical Security
July 12, 2023Listen now as Michael Petrone — a TruStage consultant with 37+ years of risk management experience — shares insights on how technology and the digital revolution are transforming how we can manage physical security risks in this 30-minute on-demand webinar.
- NAFCU Compliance Blog: Indirect Lending - Compliance Risk Considerations
July 12, 2023From time to time, the NAFCU Compliance Team receives questions from our members regarding indirect lending arrangements. Such partnerships with third parties present plenty of opportunity to credit unions, by helping to connect credit unions with potential borrowers (and thus potential members). However, there are also some compliance risk considerations that come into play as well. Let’s go back to basics and review indirect lending, particularly in the context of the non-member applicant.
- Deja Vu All Over Again: CFPB Fines Big Bank for Opening Fake Accounts
July 11, 2023CFPB enforcement actions are a good opportunity to review your credit union's policies, procedures and practices to make sure you don't run afoul in these areas. Let's review CFPB's enforcement action against Bank of America for double-dipping on NSF fees, withholding cash and points rewards on credit cards, and using customer information to open unauthorized accounts.
- Dominion Energy Credit Union Announces New President/Chief Executive Officer
July 10, 2023Dominion Energy Credit Union is pleased to announce the selection of Afua Essandoh as the Credit Union’s new President/Chief Executive Officer.
- Leagues, CUNA and NAFCU File Brief with U.S. Supreme Court on CFPB’s Leadership, Funding Structures
July 10, 2023The American Association of Credit Union Leagues (AACUL), the Credit Union National Association (CUNA), and the National Association of Federally-Insured Credit Unions (NAFCU) have jointly filed an amicus brief with the U.S. Supreme Court as the nation's highest court is set to hear a case that might well decide the future of the Consumer Financial Protection Bureau.
- CFPB Report Shows Late Fees are Not a Top Complaint — for a Reason
July 7, 2023CFPB Director Rohit Chopra is staking his tenure at the agency on a radical plan to wipe out $9 billion a year in consumer costs by cutting credit card late fees to just $8, down from the current first-time maximum of $30.
- What Supreme Court Ruling Against Biden’s Student Loan Forgiveness Plan Could Mean for the U.S. Economy
June 30, 2023While the bombshell ruling will undoubtedly be a blow to borrowers who had hoped — perhaps even expected — they’d have up to $20,000 of their student debt erased, the verdict is unlikely to be consequential for the U.S. economy at large, economists said.
- Langley's Deb Vollmer Appointed to League Board
June 30, 2023Deb Vollmer, Chief Experience Officer at Newport News-based Langley Federal Credit Union, has been appointed to the Virginia Credit Union League’s Board of Directors. She will represent credit unions in the League’s Region 1 (Greater Hampton Roads), serving until the League Board’s 2024 elections. She fills the vacancy on the Board created by the departure of Kim Little.
- GROWTH Conference Sept. 20-22 in Virginia Beach; Data Expert Anne Legg Featured Keynoter
June 30, 2023This year’s GROWTH Conference will feature keynote presenter Anne Legg, an award-winning, internationally recognized credit union data strategist, change agent, author, and educator. She is the founder and principal of THRIVE, a data activation consultancy that educates, accelerates, and elevates credit unions in their pursuit of data to improve their members' lives.
- Regulatory Compliance Weekly Roundup: June 30, 2023
June 30, 2023Happy Friday all! As the second quarter winds to a close, the regulatory agencies have been busy this week, with a number of annual reports and information issued. Here's a quick recap of some of this week's highlights.