Latest News & VACUL Headlines
- 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.
- Latest Fed Beige Book Now Available
October 25, 2022The Federal Reserve has published the October Beige Book, offering a summary of commentary on current economic conditions.
- New On-Demand Recording re: Overdraft, NSF Fee Litigation for Credit Unions
October 25, 2022To help minimize credit unions' risks, CUNA Mutual Group's Risk Management and LOANLINER Compliance teams have created an on-demand recording: Overdraft / NSF Fee Litigation.
- CFPB Enforcement Action Targets Overdraft Fees
October 25, 2022Regulatory scrutiny of overdraft and NSF fees continues to increase. The Consumer Financial Protection Bureau (CFPB) recently announced an enforcement action / consent order against Regions Bank for assessing what the CFPB described as “surprise overdraft fees” on debit card transactions. The CFPB found that the bank acted unfairly and abusively in violation of the CFPB Act of 2010 by assessing the overdraft fees referring to this practice as “Authorized-Positive Overdraft Fees."
- IGNITE 2023 | League Annual Meeting Registration Now Open
October 25, 2022At the request of credit unions interested in paying for IGNITE 2023 | League Annual Meeting registrations through this year’s budget, we’re pleased to announce that registration is now open! Our host hotel – Williamsburg Lodge – is also accepting reservations.