Latest News & VACUL Headlines
- CUs Meet With Gov. Youngkin; Note CUs' Importance in Helping Members Manage Current Economic Conditions
October 28, 2022Northwest Federal Credit Union CEO and League Vice Chairman Jeff Bentley and League Chief Advocacy Officer JT Blau met today with Gov. Glenn Youngkin at a breakfast event hosted by the Hunton Andrews Kurth, our lobbying firm.
- CFPB Issues Draft Proposals on Consumer Financial Data Sharing
October 28, 2022The Consumer Financial Protection Bureau (CFPB) Thursday commenced its rulemaking on personal financial data rights under section 1033 of the Dodd-Frank Act. The proposals and alternatives released Thursday are under consideration for the CFPB’s data rights rulemaking, but do not represent a proposed rule at this stage.
- CFPB ‘Junk Fee’ Guidance Ignores Credit Unions’ Focus on Members
October 28, 2022The Consumer Financial Protection Bureau (CFPB) issued guidance on “junk fees” this week that raise several concerns over the treatment of financial institution fees. The CFPB states overdraft and depositor fees likely violate the Consumer Financial Protection Act prohibition on unfair practices when consumers cannot reasonably avoid them.
- Pain to Follow GDP Gain, CUNA Predicting 'Growth Will Not Last'
October 28, 2022The U.S. economy rebounded in the third quarter after two quarters of small declines, but the happy music might be ending soon. “Healthy economic growth will not last,” says CUNA Chief Economist Mike Schenk . “The Federal Reserve’s recent aggressive policy response to stubbornly high inflation virtually guarantees that fourth-quarter output will decelerate — perhaps significantly.”
- Trends, Challenges in Protecting CUs From Cyber Attacks in 2022 and Beyond
October 28, 2022With financial risks that are large and real, credit unions face numerous challenges when developing their cybersecurity plans. The bad guys must only be right once, while a credit union must be right every time.
- CUNA Hosting Post-Election Analysis Webinar Nov. 10
October 28, 2022CUNA is hosting a post-election webinar for CUNA members on Nov. 10, starting at 2 p.m. We’ll examine what the results mean for our advocacy agenda in the next Congress.
- Hear What Janet Yellen Thinks of the US Economy Right Now
October 28, 2022Treasury Secretary Janet Yellen said in an exclusive interview with CNN said she did not see signs of a recession in the near term as the US economy rebounded from six months of contraction.
- Mortgage Delinquencies May Surge as Budgets Stretch
October 28, 2022While mortgage rates surged in the summer, the serious mortgage delinquency rates returned to pre-pandemic levels in August. Inflation, however, could be a big hit to delinquency rates, and may increase the overall delinquencies in coming months as household budgets tighten.
- Credit-Card Debt Returns to Levels Before Covid-19 Pandemic
October 28, 2022Credit-card debt recently reached a new milestone: It returned to where it was before the pandemic. Total card balances in the U.S. hit $916 billion in September, nearly identical to December 2019 levels, according to the credit-reporting firm Equifax Inc. Balances are up 9% from January and about 23% higher than their pandemic low in April 2021.
- CUNA Mutual Group to Host Webinar on Employment Practice Trends Nov. 16
October 28, 2022With changes in today's workplace, employers must exercise caution with staffing and HR practices. Credit union executives, human resource professionals, and managers must appropriately address the employer risks, rights & obligations. Note: To attend this webinar, your credit union must be a CUMIS Bond Policyholder.