Latest News & VACUL Headlines
- FinCEN to Host Innovation Hours Program Workshop on Digital Identity Services and Technologies
September 1, 2021The Financial Crimes Enforcement Network (FinCEN) will host a special virtual FinCEN Innovation Hours Program on October 14, 2021, focusing on the important role of digital identity to enhance financial services inclusion while supporting efforts to counter illicit activity that undermine the integrity and opportunity of the US financial system. Learn more
- CFPB Withdraws Proposal to Delay Debt Collection Rules
September 1, 2021The Consumer Financial Protection Bureau (CFPB) Wednesday withdrew its April proposal to delay the effective dates of its debt collection rules by 60 days.
- Take Action: Tell Congress to Oppose New IRS Reporting Provisions
September 1, 2021We issued an action alert this week calling on credit union leaders to oppose new Internal Revenue Service reporting provisions that would require financial institutions to report additional detailed account holder information.
- House Committee to Begin Markup of NDAA
August 31, 2021The House Armed Services Committee will begin its markup of the National Defense Authorization Act (NDAA) for fiscal year 2022 Wednesday at 10 a.m. Your League and other industry partners have pushed lawmakers to reject any proposed language that would require DoD to treat for-profit banks the same as credit unions when it comes to leases and lease costs for on-base branches.
- League InfoSight Features Required Training Checklist
August 31, 2021Just a reminder that League InfoSight features a handy checklist outlining required compliance training for credit union employees and officials.
- Auto Loans Cruising at U.S. Credit Unions in Q2
August 31, 2021Auto loan delinquencies continued dropping at U.S. credit unions even as total auto loans increased in the second quarter.
- IRS Reporting Requirements: Talking Points and Background
August 31, 2021In an effort aimed at increasing taxpayer compliance, the Biden Administration has proposed that financial institutions be required to report additional account holder information in an enhanced annual IRS Form 1099-INT, adding to credit unions' compliance costs and regulatory burden.
- We've Lost a Member of Our Extended Credit Union Family - Joe DeCesare
August 31, 2021We are saddened to learn of the passing of Joe DeCesare, son of Gaye DeCesare. Many of you know Gaye from her years of service as a member of the League Board, various League committees, and as a volunteer for the Northern Virginia Chapter.
- League Fights Bank Effort to Win New Branch Lease Rights on Military Bases
August 31, 2021Your League has written Reps. Elaine Luria (D-2nd) and Rob Wittman (R-1st) asking them to oppose any provision in the 2022 National Defense Authorization Act that would require DoD to treat banks the same as credit unions when it comes to leases for on-base branches.
- Supreme Court Ruling on Evictions Likely to Put Pressure on Some Members Over Housing; DOJ Weighs In With Plea to Legal Community
August 31, 2021Credit unions will need to prepare for at least some members facing housing insecurity and other related issues following a Supreme Court ruling that overruled the Biden administration's newest federal ban on evictions. In response to the Supreme Court's decision, U.S. Attorney General Merrick Garland called on the legal community to render aid when and where they could to address the looming housing and evictions crisis.