Latest News & VACUL Headlines
- CFPB Beats Suit Challenging Payday Lending Regs
September 7, 2021A Texas federal judge has rejected a payday loan-industry-backed challenge to the CFPB's remaining payday lending regulations, clearing the way for them to take effect next year after a years-long stay.
- FIs May Process Personal Remittances to Afghanistan, Says Treasury
September 7, 2021The Treasury Department has told financial institutions they may process personal remittances to Afghanistan. The news could provide some relief for the Afghan economy, Reuters noted.
- Interagency Statements Regarding Hurricane Ida and CA Wildfires
September 7, 2021The NCUA, OCC, FRB, FDIC and state regulators issued a joint statement recently that they recognize the serious impact of Hurricane Ida on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision.
- CFPB Takes Action Against Firm Offering Alternative Financing for College; Some CUs Had Explored Similar Product Offering
September 7, 2021Credit unions: We wanted to make you aware of a consent order from the Consumer Financial Protection Bureau regarding actions taken against Better Future Forward, Inc., an income share agreement (ISA) provider.
- InFirst, Apple FCUs Recognized as 'Best CUs to Work For'
September 3, 2021Congratulations are in order for InFirst Federal Credit Union and Apple Federal Credit Union, two Virginia-based credit unions being recognized by Credit Union Journal/American Banker in its “Best Credit Unions to Work For – 2021 Edition.”
- Revised Fannie, Freddie Uniform Legal Instruments
September 3, 2021Both Fannie Mae and Freddie Mac have updated their uniform legal instruments—security instruments, notes, riders and addenda, and special-purpose documents—used for loans delivered to them.
- FBI, CISA Issue Ransomware Advisory Prior to Labor Day Weekend
September 3, 2021Though noting they have no specific threats to report, the Federal Bureau of Investigation and Cybersecurity and Information Sharing Agency did issue a joint cybersecurity advisory Thursday warning of increasing attacks against U.S. entities on or around holiday weekends.
- Sen. Mark Warner Joins Inclusiv Virtual Conference Lineup
September 3, 2021Inclusiv welcomes Senator Mark Warner, D-VA as a speaker at the 2021 Inclusiv Virtual Conference!
- In Win for CUs, House Committee Doesn’t Include Bank-Sought Base Access Provision in NDAA
September 2, 2021Language to allow banks rent-free access to military installations is not included in the House version of the fiscal year 2022 National Defense Authorization Act (NDAA), which today passed out of the House Armed Services Committee on a 57-to-2 vote.
- Risk Alert: ACH Transfer Fee Class Action Lawsuit
September 2, 2021As more members take advantage of new service offerings by credit unions, such as
ACH transfer services or account-to-account (A2A) / external transfer service, credit
unions may charge fees in order to support these services. However, charging for
these services could lead to litigation.