Latest News & VACUL Headlines
- League Announces 2023 Events, Education Calendar
November 21, 2022Your League is pleased to share its 2023 event and education calendar!
- 2 Trade Groups Call for ‘Clean’ NDAA, With No Language Related to Credit Cards, NCUA Oversight of Third Parties
November 21, 2022As Congress prepares final action on the fiscal year 2023 National Defense Authorization Act (NDAA), NAFCU and the Defense Credit Union Council (DCUC) are calling for a “clean” NDAA and reject amendments they say “stand to place new burdens and hardships on credit unions.”
- BayPort Donates Backpacks, Books to Local Students
November 21, 2022BayPort Credit Union today announced it has donated 500 backpacks to the Boys & Girls Clubs of the Virginia Peninsula (BGCVP), which serves youth across the Virginia Peninsula and surrounding communities including Newport News, Hampton, York, Gloucester, and Mathews County. In addition to the backpack donation, BayPort presented BGCVP a $1,000 Amazon gift card to help purchase new books for their “Power Hour” programming.
- Virginia's Credit Unions, League Honor DeTuncq, Gull with Induction into Wall of Fame
November 18, 2022Virginia's credit unions and the Virginia Credit Union League recognized recently retired UVA Community Credit Union President and CEO Alison DeTuncq and longtime Chartway Credit Union Board member and former chairman E.L. “Lou” Gull, Jr. at a special ceremony on Nov. 10, which marked their official induction into the Credit Union House of Virginia's Wall of Fame.
- Pelosi Steps Down as House Democratic Leader
November 17, 2022After leading the Democrats for the last two decades, House Speaker Nancy Pelosi announced Thursday that she will step down next year from her spot at the top of the party, closing a momentous run for the most powerful woman in U.S. history while clearing the way for a younger generation of up-and-coming lawmakers to climb into the leadership ranks.
- Share Insurance Fund Reports Strong Performance in the Third Quarter
November 17, 2022NCUA’s Chief Financial Officer briefed the NCUA Board today on the performance of the National Credit Union Share Insurance Fund for the quarter ending on September 30, 2022. The Share Insurance Fund reported a net income of $26.2 million, $20.2 billion in assets, and $73.7 million in total income for the third quarter of 2022. The equity ratio for the Fund remains at 1.26 percent.
- League, CUs Ready to Work with Congressional Delegation as Coming Session Brings Republican-Led House, Democrat-Controlled Senate
November 17, 2022Major news outlets are reporting that Republicans have won control of the House of Representatives, meaning credit unions will be working with and lobbying a Democrat-controlled Senate and a Republican-led House.
- CFPB Warns of Possible Direct Dispute Violations
November 17, 2022Credit reports – a wealth of information about a person’s financial habits that can serve as the determining factor in credit decisions or even employment decisions or background checks. Given the outsized impact a credit report can have on a person’s life, it’s important that the information contained in the credit report be accurate, and that credit unions handle disputed information appropriately. Last week the Consumer Financial Protection Bureau provided guidance on this topic by publishing a new consumer financial protection circular on the topic of consumer reporting disputes.
- Business Group Sues Over New Corporate Ownership Database
November 16, 2022A small business lobbying group has filed suit to block the Treasury Department’s upcoming requirement that tens of millions of small businesses register with the government as part of an effort to prevent the criminal abuse of anonymous shell companies.
- NCUA Chairman Harper Testifies Before the U.S. House Committee on Financial Services
November 16, 2022National Credit Union Administration Chairman Todd M. Harper, along with other financial regulatory agency principals, testified today at a hearing before the U.S. House Committee on Financial Services.