More than two-thirds of the economists at 23 large financial institutions that do business directly with the Federal Reserve expect the U.S. will have a recession in 2023, while two others are predicting a recession in 2024, according to a survey conducted by The Wall Street Journal.

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Some compliance professionals have reached out to NAFCU Compliance to inquire about check signatures. Particularly, when a company representative signs a check in an unfamiliar way, is it acceptable to cash?

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A year ago, the Supreme Court of Virginia drew maps that will be used in state legislative elections this year without regard to the addresses of sitting legislators. The result was 40 of 100 delegates were drawn into the same district with one or more colleagues, most of them from the same political party. While some pairings have been resolved, VPAP’s unofficial list shows that 23 delegates still face the option of moving into a different district, running for a different office, retiring or battling a colleague for the party nomination.

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The CFPB has finalized annual changes to asset-size exemption thresholds under the Home Mortgage Disclosure Act (HMDA) and Regulation Z based on the 8.6% increase in the average of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the 12-month period ending in November 2022.

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Chartway is proud to congratulate two board members: CAPT George E. Sauer III, USN (Ret.) and Curtis A. Price. Long-time volunteer, Sauer, retired from the board on December 31, 2022, following more than 30 years of service and has moved to emeritus status. Price, who previously served as an associate director, was appointed to fill Sauer’s board seat.

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The Internal Revenue Service has announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season. As a result of this delay, the IRS said third-party settlement organizations will not be required to report tax year 2022 transactions on a Form 1099-K to the IRS or the payee for the lower, $600 threshold amount enacted as part of the American Rescue Plan of 2021. To that end, the IRS released guidance that says calendar year 2022 will be a transition period for implementation of the lowered threshold reporting for third-party settlement organizations (TPSOs) that would have generated Form 1099-Ks for taxpayers.

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State Sen. Jennifer McClellan has won the Democratic nomination for Virginia's 4th Congressional District in the special election to succeed the late Rep. Donald McEachin, the commonwealth's Democratic Party announced early Thursday morning in a news release, putting her in a prime position to become the first Black woman to represent the Old Dominion in Congress.

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The National Credit Union Administration today released the December 2022 update of the Simplified CECL Tool. The update includes the latest life-of-loan, or Weighted Average Remaining Maturity factors, as well as minor enhancements.

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Sen. Sherrod Brown (D-Ohio) on Sunday said federal agencies need to address the cryptocurrency market and “maybe” ban it after the high-profile collapse of cryptocurrency market FTX last month.

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The Senate voted Thursday to pass a massive $1.7 trillion government spending bill that will fund critical government operations across federal agencies and provide emergency aid for Ukraine and natural disaster relief. The House must next pass the measure as lawmakers race the clock to avert a shutdown at the end of the week.

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