Latest News & VACUL Headlines
- 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.
- League Filing Written Comments on NCUA Budget
October 25, 2022Following testimony by League President/CEO Carrie Hunt last week at NCUA's in-person budget hearing, your League will be submitting additional written comments on the budget by the Friday deadline.
- League, CUs Meet with Congresswoman Elaine Luria
October 25, 2022Member credit unions and your League held a virtual meeting today with credit union supporter, Rep. Elaine Luria, who remains locked in heated battle to hold on to her 2nd District seat.
- Economic Update Covers Housing Market Tends
October 24, 2022CUNA Senior Economist Dawit Kebede covered housing market trends and more on the economy in CUNA’s latest Economic Update. “By conservative estimates, we need 1.72 million homes per year for the next 10 years,” he said, adding that a Federal Reserve estimate shows the need for three million homes over that time period.
- CFPB Signals Imminent Crackdown on 'Junk Data' in Credit Reports
October 24, 2022The Consumer Financial Protection Bureau signaled it may soon crack down on the big three credit bureaus for "inconsistent or impossible" data on credit reports that hurt consumers' ability to secure loans, housing, and employment.
- Condoleezza Rice Joins CUNA GAC Programming
October 24, 2022No stranger to navigating the notoriously difficult arenas of politics, academia, and business, 66th U.S. Secretary of State Condoleezza Rice will share insights from her trailblazing career during a chat with CUNA President/CEO Jim Nussle at CUNA Governmental Affairs Conference on Tuesday, Feb. 28, 2023.
- Will Tumult in the Housing Market Change the Fed's Trajectory?
October 24, 2022As the Federal Reserve weighs another supersized rate increase this year, fears are mounting that the central bank's monetary actions could needlessly threaten financial stability.