Latest News & VACUL Headlines
- Statement by Chairman Harper on CDRLF Funding, CLF, and Vendor Authority
December 22, 2022National Credit Union Administration Chairman Todd M. Harper today released a statement on funding for the NCUA’s Community Development Revolving Loan Fund (CDRLF) grants, the Central Liquidity Facility (CLF) agent-member provision, and vendor authority.
- CFPB Auto Lending Announcement Has Insufficient Info, Wrong Assumptions
December 21, 2022The Consumer Financial Protection Bureau’s (CFPB) announcement regarding auto lending data contains sufficient information and leads to questions about the bureau’s assumptions, CUNA and other organizations wrote to the CFPB. The CFPB issued a press release with an attached document concerning the collection of information related to auto lending.
- Omnibus Bill Funds CU Priorities, Addresses CDFI Concerns
December 21, 2022Congress released the text of an omnibus bill Tuesday morning that would fund the federal government through Sept. 30, 2023 and contains several credit union priorities. The Senate is expected to take up the bill first, with a House vote before government funding expires Dec. 23.
- NCUA Releases 3Q 2022 State-Level Data Report
December 21, 2022Federally insured credit unions experienced continued asset and deposit growth over the year ending in the third quarter of 2022, while loan growth was the strongest in at least two decades, according to the latest NCUA Quarterly U.S. Map Review.
- Will SAFE Banking Be Back? Bet on It
December 21, 2022The reason for hope on SAFE Banking is both obvious and irritating: It’s inevitable. That’s plain just by looking at the national map of how many states have legalized cannabis, and thus have stakeholders who are complaining to their senators and representatives about the inequities they labor under due to the federal illegality of cannabis.
- Financial Services Coalition Asks Congress to Help Block CDFI Proposal
December 21, 2022Saying they are “gravely concerned” about proposed changes to the CDFI Certification process, a coalition of financial services trade groups is asking for Congress’ help in convincing the Treasury Department the updates are misguided.
- Two Different Camps of State AGs Want SCOTUS Review of CFPB Constitutionality, But for Different Reasons
December 21, 2022Two coalitions of state attorneys general are requesting the Supreme Court review the constitutionality of the CFPB's funding structure, but for “vastly different reasons.”
- CUNA Announces Robert Lewis as New EVP/Chief Advocacy Officer
December 20, 2022CUNA announced Robert Lewis has been hired as its new executive vice president and chief advocacy officer. Lewis, the founder and president/CEO of the Van Aucker Group, has more than 20 years of legislative experience involving financial services.
- Republicans Again Nominate Leon Benjamin in 4th Congressional District
December 20, 2022Fourth District Republicans on Saturday nominated Leon Benjamin, a Richmond minister, as the party’s candidate in the Feb. 21 special election for the seat of former Rep. Donald McEachin.
- Luetkemeyer Introduces Federal Data Breach Notification Bill
December 20, 2022Rep. Blaine Luetkemeyer, R-Mo. Introduced a bill Thursday that would create a national data breach notification standard, the Consumer Information Notification Requirement Act. “We support this legislation to eliminate the patchwork of state data breach notification standards, ensuring consistent treatment to all affected by a data breach,” said Credit Union National Association President/CEO Jim Nussle. “Pre-empting conflicting—and often contradictory—state laws and requiring timely notice to those who are affected would greatly benefit consumers.”