Latest News & VACUL Headlines
- House Bill Introduced to Prohibit Increased IRS Reporting
October 5, 2021A credit union-supported House bill was introduced Friday that would prohibit the implementation of any expanded Internal Revenue Service (IRS) financial institution reporting requirements. Rep. Ashley Hinson (R-Iowa) introduced the bill, which follows a Senate companion bill introduced last week.
- Park View FCU Aids Local Fundraising Effort
October 5, 2021Park View Federal Credit Union aided efforts to raise funds during the 5th Annual Virginia Mennonite Relief Sale Friday night and Saturday at the Rockingham County Fairgrounds.
- Holiday Closing Signs Available for CUs
October 4, 2021Your League makes available holiday closing signs for the various federal holidays, including Columbus Day (Oct. 11). See the closing signs here.
- New InfoSight Content
October 4, 2021Please check out the new InfoSight resources we’ve added and let us know if there is something else that would be helpful for your credit union!
- CUs Reminded of Libor Transition Deadline
October 4, 2021The NCUA encourages all federally insured credit unions to transition away from using the U.S. dollar LIBOR settings as soon as possible, but no later than December 31, 2021.
- Vaccine Mandate: Credit Unions Not 'Federal Contractors' Simply Based On NCUSIF Coverage
September 30, 2021Until there is additional guidance such as regulations implementing President Biden's vaccine mandate or guidance from NCUA, there is nothing to state that federally insured credit unions are 'federal contractors' for purposes of the President's COVID-19 Action Plan, note summaries from CUNA and NAFCU.
- NCUA Letter to CUs Offers Info on End of Pandemic Homeowner Protection Programs
September 29, 2021Credit unions are being reminded by NCUA that many homeowner protection programs put in place by the government during the pandemic are now expiring, and credit unions have until Sept. 30 to act on a number of related issues. In a Letter to Credit Unions, the agency provided what it called “critical information” for complying with the expiration of the protection programs.
- CONNECT Conference Draws 50 CU Attendees
September 28, 2021We welcomed 50 credit union professionals from across the Commonwealth for the 4th Annual CONNECT Conference!
- NYDIG Allows Members to Buy, Sell Bitcoin But CUs Should Recognize Risk
September 28, 2021NYDIG, a digital asset management firm, has partnered with the nation’s largest online banking solution providers to allow account holders to buy, sell and hold bitcoin. Credit union members can now trade bitcoin through online banking and
mobile banking channels. Offering this service to members significantly increases a credit union’s exposure to account takeovers. Learn more - League Compliance Newsletter (09/27/2021)
September 28, 2021The latest edition of our Compliance Newsletter is posted here! This issue details new details related to President Biden's vaccine mandate; our continuing call-to-action on proposed IRS Reporting requirement, including new moves in the House to advance the proposal; and more...