Latest News & VACUL Headlines
- 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.
- CFPB, DOJ and OCC Take Action Against Trustmark National Bank for Deliberate Discrimination Against Black and Hispanic Families
October 22, 2021The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ), in cooperation with the Office of the Comptroller of the Currency (OCC), are targeting Tennessee-based Trustmark National Bank for alleged redlining, citing, among other things, a failure to monitor its fair lending program.
- Virginia's Redistricting Commission May Fail to Redraw Congressional District Map
October 21, 2021Virginia’s redistricting commission, continuing to split along partisan lines ahead of its Monday deadline, appears close to failure on fashioning a map of the state’s congressional districts.
- CFPB Targets Amazon, Facebook, Others In Payments Probe
October 21, 2021The Consumer Financial Protection Bureau has ordered a group of tech giants including Amazon, Facebook and Google to turn over information related to their payments-related systems and products, giving the companies just under two months to hand over the details as part of a consumer protection sweep announced Thursday.
- NCUA Board Finalizes CAMELS Rule; OKs CUSO Lending Rule
October 21, 2021In actions today, the National Credit Union Administration Board voted to add the “S” component (Sensitivity to Market Risk) to the existing CAMEL rating system and approved a final rule that will expand lending opportunities for credit union service organizations (CUSOs).
- IRS Reporting Requirements: We Urgently Need You to Keep Up Contacts to Congress
October 20, 2021Our fight against new IRS reporting requirements is proving tougher by the day, but we urge you to keep fighting! Here's the latest ...