Latest News & VACUL Headlines
- Pages From of the Diary of Mrs. C. Hunt - Oct. 13, 2021
October 13, 2021League President/CEO Carrie Hunt's latest "Diary" post features an urgent call-to-action on the IRS Reporting Requirements we've battled against for months in Congress and a preview of Ignite 2021 | the League Annual Meeting (please register if you haven't; early bird discount ends Oct. 15!)
- Biden’s Covid-19 Vaccine Mandate Moves Closer to Approval
October 13, 2021The WSJ reported (paywall may limit access) that the Labor Department has submitted its proposed standards regarding the vaccine mandate for private employers to the White House for approval. Your League has raised concerns with this rules’ impact on small businesses including the cost and availability of testing.
The proposed mandate would apply to businesses with 100 or more employees, the Labor Department said, confirming early statements. It would be implemented under a federal rule-making known as an emergency temporary standard and affect roughly 80 million workers nationwide, according to Biden administration estimates, or more than half the total U.S. workforce.
The Labor Department’s Occupational Safety and Health Administration submitted on Tuesday the initial text of the proposed standard to the White House for approval, signaling its release could soon follow. The details could change during the White House review.
- CFPB Making Changes to Credit Card Data Submission Process
October 12, 2021The Consumer Financial Protection Bureau (CFPB) issued new technical specifications for the credit card agreement submission process. The CFPB’s Collect website is the mandatory vehicle for issuers to submit credit card agreements and their associated data in 2022 and beyond. Issuers making credit card agreement submissions to the Bureau on a quarterly basis must complete a registration form and submit it to Collect_Support@cfpb.gov by November 1, 2021.
- House Financial Services Subcommittees Holding Three Hearings This Week
October 12, 2021The U.S. House Committee on Financial Services is set to hold three meetings this week.
- New Director Rohit Chopra Says CFPB Looking Out for Families, Workers and Communities
October 12, 2021Consumer Financial Protection Bureau Director Rohit Chopra offered his thoughts on the CFPB's role in a post on Tuesday, shortly after being sworn in to lead the organization.
- League Compliance Newsletter (10/12/2021)
October 12, 2021The latest edition of our Compliance Newsletter is posted here! This issue features League President/CEO Carrie Hunt's call to credit unions to register for Ignite 2021 | the League Annual Meeting; our continuing call-to-action on proposed IRS Reporting requirements, plus comment calls on important rules.
- Next Ginnie Mae Leader must recognize CU mission, structure
October 8, 2021The next president of the Government National Mortgage Association (GNMA, or Ginnie Mae) must understand the unique mission, structure, and operation of America’s credit unions. In August, your League and CUNA both wrote Ginnie Mae, urging the agency to adopt NCUA’s findings regarding credit union capitalization, given that NCUA addresses the risk profile of each institution it examines.
- CFPB Releases Debt Collection Rule FAQs
October 8, 2021The CFPB has released frequently asked questions on the limited-content message and call frequency provisions of its debt collection rule (Regulation F) that become effective on Nov. 30, 2021.
- FCC’s Reassigned Numbers Database Live Nov. 1
October 8, 2021The Federal Communications Commission’s (FCC) Reassigned Numbers Database (RND) is scheduled to be operational for paid subscribers on Nov. 1, 2021 (registration opened Oct. 1). Callers that use the database can also reduce their potential Telephone Consumer Protection Act (TCPA) liability by avoiding inadvertent calls to consumers who have not given consent for the call.
- NCUF Announces $100K Grant to Support CU Diversity, Financial Health
October 8, 2021On Thursday, the National Credit Union Foundation said it had created a $100,000 grant to help smaller credit unions analyze their membership demographics and better grasp the ways culture, race and ethnicity impact financial well-being.