Latest News & VACUL Headlines
- ValleyStar Credit Union Announces New SVP of Credit Administration
November 15, 2022ValleyStar Credit Union announces Misty Reed as its senior vice president of credit administration. Her role will focus on process automation, building relationships with external parties and communicating insights critical to ValleyStar Credit Union’s evolution.
- Divided Government to Benefit Credit Unions
November 14, 2022Americans voted overwhelmingly last week for a divided government, an outcome that NAFCU and CUNA think will give an edge to credit unions.
- Tidewater Chapter Recognizes Retiring Leader, Volunteer Leigh Ann Graham
November 14, 2022The Tidewater Chapter honored longtime volunteer and past Chapter president Leigh Ann Graham (of Beach Municipal Federal Credit Union) on Nov. 10 at a special meeting celebrating her leadership of the Chapter and her retirement next month from the credit union.
- J.P. Morgan, Mastercard Launch Open Banking Payment Tool
November 14, 2022JPMorgan Chase & Co.'s payments division, J.P. Morgan Payments, and Mastercard Inc. launched Pay-by-Bank, an Automated Clearing House payment service. The solution employs the open banking method, which allows consumers to share their financial data between parties and pay bills directly from their bank accounts. For billers and merchants, Pay-by-Bank automates consumer onboarding and eliminates the risk and cost of storing bank account information.
- Margin Expansion Driving Increases in US Bank Profitability
November 14, 2022Thanks to a bulging net interest margin, net revenue across the U.S. banking industry reached another all-time high in
the third quarter of 2022. Wider margins more than offset shrinking balance sheets, weaker fee income and higher
expenses, according to S&P Global Market Intelligence data. - Deposit Outflows are Forcing Some Banks to Play Defense
November 14, 2022A growing outflow of deposits is starting to cause headaches for some banks, forcing them to play defense in order to maintain enough cash to make loans.
- Cortez Masto Wins in Nevada; Democrats Hold Onto Senate
November 14, 2022The Associated Press called the Nevada Senate race for incumbent Democrat Catherine Cortez Masto Saturday night, securing Democratic control of the upper chamber while several races in the House remain too close to call.
- Comp Selection is at the Heart of Appraisal Bias, Advocacy Groups Claim
November 14, 2022A study conducted by the National Community Reinvestment Coalition this summer found that racial disparities in home valuations exist and that biases in selecting comps are a big factor.
- As Crypto Investments Sputter, Payments Get a Second Wind
November 14, 2022Even after the so-called crypto winter saw the valuations of many prominent digital currencies plummet, crypto companies are teaming with payment firms to make a growth push.
- FTX Files for Chapter 11 Bankruptcy; CEO Steps Down – Bloomberg
November 14, 2022FTX Trading Ltd. filed for Chapter 11 bankruptcy with a federal court in Delaware and Sam Bankman-Fried resigned as CEO, Bloomberg News reported Nov. 11.