Latest News & VACUL Headlines
- Resources for NCUA's MERIT Exam System Now Available
October 27, 2021The National Credit Union Administration is making available resources to credit unions related to the Modern Examination and Risk Identification Tool (MERIT).
- Here’s How the Court Will Draw Virginia’s New Political Districts
October 26, 2021The Virginia Redistricting Commission has missed a final deadline to draw new state legislative maps, kicking the process to the Virginia Supreme Court. The court’s seven justices won’t draw the lines. Instead, they’ll hire two experts who will work together to come up with finished maps.
- Small Banks Turn Corner on Loan Growth
October 26, 2021Community banks are seeing loan growth rise, as businesses seek to expand to meet a surge in consumer spending.
- Trades, Business Groups Ask Biden to Drop Proposal to Expand IRS Reporting Requirements
October 26, 2021Dozens of trade groups representing credit unions, banks and other industries urged the White House to dump a plan that would require financial institutions to report account information to the IRS.
- Northwest Federal Credit Union Foundation’s Drive for the Driven Golf Tournament Raises More Than $136K for Scholarship Program
October 26, 2021The Northwest Federal Credit Union Foundation (Foundation) the charitable arm of Northwest Federal Credit Union, recently held their 6th Annual Drive for the Driven Golf Tournament. The money raised from this year’s tournament will benefit the Foundation’s Scholarship Program, which awarded $125,000 in scholarships to individuals and Northern Virginia Community College’s Lifeline and Helping Hands programs earlier this year. Learn more
- 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.