Latest News & VACUL Headlines
- 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.
- CUSO Final Rule, Cybersecurity Briefing on NCUA’s Oct. 21 Agenda
October 15, 2021The NCUA board will vote on final rules involving credit union service organizations (CUSOs) and the CAMELS rating system at its Oct. 21 meeting. The meeting will be available via live audio stream starting at 10 a.m. on NCUA.gov on Oct. 21.
- Lawmakers Clash Over Government's Role in Preserving Cash
October 15, 2021Despite the rapid advancement of digital payments, many people still rely on cash, leading to partisan disputes over the best way to ensure consumers who need paper bills can avoid being shut out of the financial system, notes an article from American Banker. (Subscription may be required.)
- EEOC Updates Employer COVID-19 Vaccination Guidance
October 15, 2021The U.S. Equal Employment Opportunity Commission has updated its guidance document aimed at helping businesses and their employees better understand how federal workplace discrimination laws, such as the Americans with Disabilities Act, impacts employer COVID-19 vaccination requirements. Learn more
- In Address at Tidewater Chapter, League President Urges Advocates' Action on IRS Reporting Proposal
October 15, 2021League President/CEO Carrie Hunt was the special guest speaker at the Tidewater Chapter's Oct. 14 meeting, offering her perspective on one of the thorniest issues currently plaguing the financial services industry -- namely the proposal to expand Internal Revenue Service reporting requirements for financial institutions.
- League Files Comment Letter on Complex Credit Union Leverage Ratio; Risk-Based Capital
October 14, 2021Your League will today file its comment letter on NCUA's Complex Credit Union Leverage Ratio - Risk-Based Capital proposed rule. Read the letter