Latest News & VACUL Headlines
- Compliance: ACH Contact Registry Deadline Aug. 1
March 30, 2023Enforcement of Nacha’s Automated Clearing House (ACH) Contact Registry rule is effective Aug. 1, meaning credit unions must register their contacts with the registry by then. Nacha—the organization that administers the ACH network—has created several resources for credit unions to familiarize themselves with the registry.
- Regulatory Alert (23-RA-02) Home Mortgage Disclosure Act Data Collection Requirements for Calendar Year 2023
March 30, 2023If your credit union makes residential mortgage loans and meets certain criteria, you must comply with the Consumer Financial Protection Bureau’s (CFPB) Regulation C, which implements the Home Mortgage Disclosure Act (HMDA).
- IGNITE 2023 Keynote: U.S. Economic Outlook and Its Impact on CUs
March 30, 2023CUNA Mutual Chief Economist Steven Rick is back by popular demand at IGNITE 2023!
- CFPB Releases Section 1071 Small Business Lending Final Rule; League Remains Concerned About Scope of Rule, Regulatory Burden
March 30, 2023The Consumer Financial Protection Bureau (CFPB) released its final rule on section 1071 of the Dodd-Frank Act Thursday, which would require credit unions to collect and report certain data on applications for credit. While your League recognizes that this rule was mandated by Congress, we urged the CFPB as it crafted the final rule to carefully consider how the scope of its rule might impact the cost of small business borrowing and how burdensome data collection required by the rule would affect smaller financial institutions, like credit unions. We also noted the potential privacy concerns related to the public release of this data.
- League Congratulates Lamont Bagby On Successful Run for State Senate
March 29, 2023The Virginia Credit Union Leagues congratulates Sen.-elect Lamont Bagby on his election to represent Virginia’s 9th State Senate District.
- Webinar: Credit Unions 4.0 - The Near Future of Credit Unions
March 29, 2023As part of its Discovery Series, CUNA Mutual will host a webinar titled “Credit Unions 4.0: The Near Future of Credit Unions” on April 12. The event will run from 2 p.m.-3 p.m.
- Be Your Members’ Financial First Responder; Preparation is Key
March 29, 2023A free webinar brought to you by CUNA Strategic Services and QCash.
- Sens. Romney, Cassidy Introduce Resolution to Overturn Student Loan Cancellation Plan
March 29, 2023U.S. Sens. Mitt Romney (R-UT) and Bill Cassidy, M.D. (R-LA) are among a group of Republican senators who introduced a resolution this week to overturn President Joe Biden’s plan to cancel student loan debt.
- Comments on Credit Card Late Fee Proposal Due May 3
March 29, 2023The Consumer Financial Protection Bureau (CFPB) published its proposal on credit card late fees in the Federal Register Wednesday with comments due May 3. CUNA has called on the CFPB to release the Federal Reserve data it heavily relied upon to craft the rule.
- Virginia Credit Union Chairman Ken Ampy Recognized By Virginia Business Magazine
March 29, 2023Making his mark in history, Ken Ampy, CEO of Astyra Corporation, was featured in Virginia Business Magazine as one of the prominent Black Business Leaders in the state. He also serves as the chair of the board for Virginia Credit Union, a $5 billion financial institution.