Latest News & VACUL Headlines
- GOP Seeks to Subject CFPB to Appropriations Process Following Ruling
October 21, 2022House Republicans say they have a solution to the conundrum caused Wednesday by the U.S. Court of Appeals for the Fifth Circuit when it found that the CFPB was unconstitutionally funded -- Kentucky
- NCUA Board to Congress: Extend CLF Changes
October 21, 2022 - NCUA Board Meeting Coverage: Risk Appetite Statement Approved
October 21, 2022Members of the NCUA board heard an update on the agency’s Risk Appetite Statement, with one board member urging credit unions to take a “fresh look” at their own existing risk appetite statements or to begin the process. The board voted 3-0 in favor of approving the statement.
- All of CFPB's Past Actions Threatened by Appeals Court Decision
October 21, 2022An appeals court decision that invalidated the Consumer Financial Protection Bureau's payday lending rule has far broader implications, potentially opening all of the agency's past rules and other actions to legal challenges, say regulatory and constitutional lawyers.
- Large US Bank Revenue Keeps Climbing as Investors Brace for Recession
October 21, 2022Big U.S. bank stocks bounced on third-quarter earnings reports that delivered even stronger net interest income increases than expected without the hits to capital that some investors feared.
- Consumers Could Soon See Which Plaid Apps Access Their Account
October 21, 2022More consumers will soon get to see which companies have access to their financial data rather than needing to memorize which apps they previously granted access to their accounts.
- Mortgage Rates Rise by Just 2 Basis Points, But Troubles Remain for Housing Market
October 21, 2022Mortgage rates rose by just two basis points this week, even as the 10-year Treasury yield finally broke through the 4% mark on a sustained basis last Friday due to continued uncertainty.
- State Attorneys General Subpoena 6 Top Banks as ESG Standoff Escalates
October 21, 2022A Republican-led coalition of 19 state attorneys general -- including Virginia's Jason Miyares -- served six of the largest U.S. banks with investigative subpoenas over their involvement with the United Nations-convened Net-Zero Banking Alliance, escalating the political backlash over firms' environmental, social and governance goals.
- Visa, Mastercard Draw New Government Scrutiny Over Debit-Card Routing
October 21, 2022The Federal Trade Commission is investigating whether the security tokens used by Visa Inc. and Mastercard Inc.
restrict debit-card routing competition on online payments, The Wall Street Journal reported Oct. 17, citing people
familiar with the matter. - Funding Pressures Will Knock on US Community Banks doors in 2023
October 21, 2022Significantly higher interest rates have allowed net interest margins to recover, but pressure on community banks'
funding base will begin to emerge later this year. The impact will be even more pronounced in 2023.