Latest News & VACUL Headlines
- CULAC Announces Standings for Top Fundraising Credit Unions
October 26, 2021CULAC has released current standings for the Circle of Excellence Awards and the Pinnacle Awards that will be awarded at CUNA's 2022 GAC. Leading the way in the Commonwealth: BayPort Credit Union, Virginia Credit Union and Henrico Federal Credit Union.
- Pages From of the Diary of Mrs. C. Hunt - Oct. 26, 2021
October 26, 2021League President/CEO Carrie Hunt's latest "Diary" post features the McAuliffe-Youngkin match, the ongoing fight over expanded IRS reporting requirements for financial institutions, and our work to voice credit union concerns over the coming vaccine mandate regulation. Plus, it's Round 2 of the hugely important field-of-membership case being argued before a State Corporation Commission hearing examiner, beginning tomorrow ... Read more
- CFPB Issued Final Rule to Effect Annual Adjustments to TILA Thresholds for 2022
October 26, 2021The Consumer Financial Protection Bureau (CFPB) Monday issued a final rule revising dollar amounts for certain regulations falling under Regulation Z that implement the Credit Card Accountability Responsibility and Disclosure Act (CARD Act), the Home Ownership and Equity Protection Act (HOEPA), and the ability-to-repay/qualified mortgage (QM) provisions of the Truth in Lending Act. Learn more
- League Compliance Newsletter (10/26/2021) Available
October 26, 2021The latest edition of your League's Compliance Newsletter is available here!
- NCUA Issues Guidance, Announces Upcoming ECIP Action
October 25, 2021Eligible low-income credit unions (LICUs) may accept 30-year subordinated debt investments from the Treasury’s Emergency Capital Investment Program (ECIP), as detailed in a letter to credit unions (21-CU-11) from NCUA.
- League Writes Treasury on Issues with Expanded IRS Reporting Requirements
October 25, 2021Your League last week wrote Treasury Secretary Janet Yellen to outline our concerns with a proposal to expand IRS reporting requirements.
- NCUA Board Announces Meeting Schedule for 2022
October 25, 2021The NCUA board released its monthly meeting schedule for 2022. The calendar is posted to the NCUA’s public website along with the agendas, which are available one week in advance of each open board meeting.
- Virginia Reps Among 200-Plus Members of Congress Opposing Expanded IRS Reporting Requirements
October 22, 2021Four Virginia Congressmen have now signed on to various letters opposing expanded IRS reporting requirements - Reps. Wittman, Good, Cline and Griffith. They are among the more than 200 members of Congress who have expressed opposition to the IRS reporting proposal.
- Scott, Colleagues Introduce Bill to Block IRS Snooping Proposal
October 22, 2021A bill from Sen. Tim Scott (R-S.C.) Thursday that would prohibit implementation of increased financial institution reporting to the Internal Revenue Service (IRS), the Prohibiting IRS Financial Surveillance Act. A House companion bill was introduced earlier this week by Rep. Drew Ferguson (R-Ga.).
- Ex-Obama Civil Rights Official Named Chief Enforcement Official for CFPB
October 22, 2021Eric Halperin, a longtime consumer advocate, fair lending litigator and civil rights official at the Justice Department in the Obama administration, has been named enforcement chief at the Consumer Financial Protection Bureau, sources said.