Latest News & VACUL Headlines
- CUNA Mutual Group Fall 2021 Report
October 18, 2021The Fall 2021 CUNA Mutual Group newsletter is now available.
- FinCEN Issues Report on Ransomware Trends in BSA Data
October 18, 2021On Oct. 15, FinCEN issued a financial trend analysis on ransomware trends in Bank Secrecy Act reporting filed between January 2021 and June 2021. Learn more
- Two Ways to Help Break Down Barriers to Buying Life Insurance
October 18, 2021Life insurance can help reduce anxiety and improve financial wellbeing. Here’s how to help members get the protection they need—especially in uncertain times.
- CFPB, FTC and North Carolina Department of Justice File Amicus Brief in Henderson v The Source for Public Data
October 18, 2021CFPB, FTC weigh in on a court case that would hold tech companies to the same compliance standards as other market participants -- in this instance with requirements of the Fair Credit Reporting Act.
- OFAC Issues Sanctions Compliance Guidance for Virtual Currency Industry
October 18, 2021The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that it has published an industry-specific brochure, "Sanctions Compliance Guidance for the Virtual Currency Industry," as a resource to help members of the virtual currency industry navigate and comply with OFAC sanctions.
- CUNA Releases Update to the Credit Card MLA Fee Comparison Spreadsheet
October 18, 2021CUNA has released the third quarter 2021 update to the credit card MLA Fee Comparison Spreadsheet.
- US Banks Close 180 Branches, Open 69 in September
October 18, 2021U.S. banks and thrifts opened 69 branches and permanently closed 180 in September, leaving 81,472 active branches as of Sept. 30. Over the last 12 months, the industry has closed 4,700 branches and opened 1,131 branches, according to S&P Global Market Intelligence data.
- Credit Union House Wall of Fame: Honor the Difference-Makers at Your CU
October 18, 2021Credit unions: Here’s a golden opportunity to honor individuals who made a difference at your credit union! On Nov. 18, your League will host its Annual Awards Event, at which we’ll honor our latest Wall of Fame inductees.
- League Comments on Bank Regulators' Interagency Guidance on Third-Party Relationships
October 18, 2021Your League has submitted comments to the FDIC, OCC and the Fed on the "Proposed Interagency Guidance on Third-Party Relationships: Risk Management." Noting that credit unions and banks use many of the same vendors, the League wrote credit unions have a deep interest in the proposal and how future action by the NCUA might be shaped by information gleaned from the work of the banking regulators.
- Expanded IRS Reporting Could Lead to ‘Serious Negative Consequences’
October 15, 2021More than 100 organizations wrote to Congressional leaders Thursday, noting the additional compliance required by taxpayers and financial institutions under proposed new Internal Revenue Service reporting requirements. Your League urges you to reach out to your lawmakers today in opposition to this proposal. You can easily do so here.