Latest News & VACUL Headlines
- NCUA Leaves NOL Unchanged; Approves 2023-2024 Budget
December 15, 2022The National Credit Union Administration left the normal operating level unchanged at 1.33 percent, with the Board also approving a 2023-2024 budget slightly smaller than the one originally proposed by staff and unanimously advancing a proposed rule designed to provide clarity and ease credit unions’ foray into loan participations and fintech collaborations.
- 2020 HMDA Final Rule Partially Vacated: Closed-End Loan Reporting Threshold Lowered
December 14, 2022In 2020 the Consumer Financial Protection Bureau (CFPB) issued a final Home Mortgage Disclosure Act (HMDA) rule amending Regulation C to raise institutional and transactional coverage thresholds for closed-end mortgage loans and open-end lines of credit. The final rule raised the threshold to report closed-end mortgage loans from 25 to 100 originated loans in the previous two years.
- CUs, Banks May Exit Zelle if Required to Reimburse Scammed Users, Trade Groups Say
December 14, 2022Community banks and credit unions could discontinue offering instant-payment apps like Zelle if required to reimburse consumers who are victimized by scams, according to NAFCU and the Independent Community Bankers of America (ICBA).
- Elizabeth Warren Unveils Bipartisan Bill to Crack Down on Crypto Money Laundering
December 14, 2022As federal prosecutors seek to imprison former crypto darling Sam Bankman-Fried, Sen. Elizabeth Warren is attempting to push through Congress a bipartisan crackdown on money laundering in the crypto industry.
- Fed Raises Rates by Half a Percentage Point in Last 2022 Hike
December 14, 2022The Federal Reserve raised interest rates by half a percentage point Wednesday and signaled plans to keep raising them more in 2023, capping off one of the most aggressive years in the central bank’s history and marking a new phase in its fight against inflation.
- League Statement on the Passing of Del. Ronnie Campbell
December 13, 2022"Our deepest condolences to the family, friends and colleagues of Del. Ronnie Campbell,” said Virginia Credit Union League President/CEO Carrie Hunt. “We are saddened to learn of the delegate’s passing, and we appreciate his service to his constituents and the Commonwealth.”
- League's Hunt to Serve as CUNA Examination & Supervision Subcommittee Vice Chair; Named to Board of Statewide Financial Education Organization
December 13, 2022League President/CEO Carrie Hunt has been named Vice Chair of the CUNA Advocacy Committee’s Examination & Supervision Subcommittee, and also recently joined the board of the Virginia Council of Economic Education, a nonprofit organization dedicated to providing Virginia’s K-12 students with the knowledge and personal finance skills necessary to succeed in today’s dynamic economy.
- NCUA Schedules Jan. 5 Credit Union Diversity Self-Assessment Webinar
December 13, 2022Credit unions looking to take the first steps on the diversity, equity, inclusion, and belonging journey can get critical information on getting started during a webinar hosted by NCUA on Jan. 5, starting at 11:30 a.m.
- Biden's Student-Loan Relief Plan Gets Expanded Review from Supreme Court
December 13, 2022The U.S. Supreme Court expanded a planned showdown over President Biden's student-loan relief plan, saying it will hear arguments from two borrowers who contend they are being unfairly excluded from the full scope of the program.
- UVA Community Credit Union Welcomes Carolyn Burnett, VP of Business Banking/Senior Commercial Loan Officer
December 12, 2022UVA Community Credit Union is pleased to welcome Carolyn Burnett as Vice President of Business Banking and Senior Commercial Loan Officer. In her new position, Burnett is responsible for the implementation of strategic initiatives, providing support and resources for small business loans, and providing commercial banking solutions for Business members.