Latest News & VACUL Headlines
- More Rules on Fees in the Works
October 26, 2022Credit unions: The Biden Administration today released an initiative that will target what it terms “junk fees,” with banking-related fees featured prominently in the President’s plan and in new, related guidance issued by the Consumer Financial Protection Bureau (CFPB).
- CFPB Lays Out Possible Counter to Fifth Circuit Funding Decision
October 26, 2022An appeals court ruling last week on the Consumer Financial Protection Bureau's funding structure is already threatening the agency's ability to enforce its rules. But in another recent case, CFPB hints at its legal strategy for appealing the court decision that found its funding mechanism unconstitutional.
- Upcoming Comment Deadlines Include NCUA Budget, Digital Assets
October 26, 2022Comments on several regulatory items of interest to credit unions are due in the coming weeks including on NCUA’s draft 2023-24 budget, due Oct. 28.
- Housing Slowdown: New Home Sales Fell 10.9% in September
October 26, 2022New home sales fell in September amid rising mortgage rates that have pushed some buyers away from the housing market.
- Latest ECU Monitor Details What CUs Need to Know about Payments Fraud
October 26, 2022NAFCU's latest Economic & CU Monitor – now available for download – examines survey respondents’ perspectives on payments fraud, common types of fraud vectors, and mitigation strategies.
- What the FHFA Credit Score Change Could Mean for the Industry
October 26, 2022Mortgage experts generally expect government-related investors' plan to replace FICO's "classic" score with newer ones — and more flexible credit reporting — could open up lending, but some are worried about unintended consequences and costs.
- BayPort Donates $10,000 to the Salvation Army Florida as Hurricane Ian Relief Continues
October 26, 2022BayPort Credit Union today announced it is donating $10,000 to the Salvation Army Florida to support its hurricane relief fund. One hundred percent of designated disaster donations go to direct services for survivors and first responders.
- Mortgage Production Will Fall 9% in 2023: MBA Forecast
October 26, 2022The MBA forecasts a recession in the first half of 2023, with the unemployment rate at 5.5% and inflation at the 2% target by the end of next year. The economic dislocation will bring mortgage originations down to $2.05 trillion in 2023, compared to $2.26 trillion this year, according to the trade group. However, other industry forecasters believe that the MBA’s projections, which anticipate a 9% production decline in 2023, are actually rather “rosy.”
- Top 5 Reasons to Crash the GAC in 2023; Apply Now!
October 25, 2022Crashing the GAC has positively impacted hundreds of emerging professionals. Join us on this life-changing journey!
- CUNA, League Leaders to Participate in NCUA DEI Summit
October 25, 2022NCUA’s third summit focused on diversity, equity, and inclusion, is set for Nov. 2 to 4 and registration is open. This year’s summit theme is All-In on DEI & ACCESS. ACCESS represents NCUA’s initiative for Advancing Communities through Credit, Education, Stability, and Support. A number of CUNA, League, and credit union leaders will participate in the event, which has an online and live component.