Latest News & VACUL Headlines
- 'Financial Hacking' Plagues DeFi in Latest Setback for Crypto
October 20, 2022Decentralized finance, the once red-hot slice of the crypto universe that was at the center of this year's collapse of the digital-asset world, is facing a rapidly increasing new challenge: financial hacking.
- Credit Unions Wary Despite Record-Low Delinquencies
October 20, 2022Credit quality has been historically strong for credit unions, but a couple of the factors driving that — low interest rates and government stimulus checks — have disappeared and credit unions are bracing for a change.
- CFPB Takes Action to Address Junk Data in Credit Reports
October 20, 2022Today, the Consumer Financial Protection Bureau (CFPB) issued guidance to consumer reporting companies about their obligation to screen for and eliminate obviously false “junk data” from consumers’ credit reports. Companies need to take steps to reliably detect and remove inconsistent or impossible information from consumers’ credit profiles.
- Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on Proposals to Prevent Bailout Risk and Guard Against Increased Concentration in Banking
October 20, 2022The Federal Deposit Insurance Corporation is taking an important step to reduce bailout risk among a group of systemically important financial institutions and guard against increasing concentration in banking. In conjunction with the Federal Reserve Board of Governors, the FDIC Board of Directors is issuing an Advanced Notice of Proposed Rulemaking to help prepare for a potential failure of a very large bank that isn’t one of the big Wall Street banks.
- NCUA Board Approves Risk Appetite Statement; Briefed on Central Liquidity Facility and Cybersecurity
October 20, 2022The National Credit Union Administration Board on Thursday approved the agency’s Enterprise Risk Appetite Statement, which helps the agency align risks and opportunities when making decisions and allocating resources to achieve the agency’s strategic goals and objectives. The NCUA Board was also briefed on the state of the Central Liquidity Facility (CLF) and cybersecurity trends affecting federally insured credit unions and the broader financial system.
- Happy International Credit Union Day!
October 20, 2022International Credit Union (ICU) Day® celebrates the spirit of the global credit union movement. The day is recognized to reflect upon the credit union movement's history, promote its achievements, recognize hard work and share member experiences. International Credit Union (ICU) Day® has been celebrated on the third Thursday of October since 1948.
- I Know it's Today ... We Won't Repeat the Mistakes of 2008
October 20, 2022Zest AI takes a trip back to the Great Recession to ask: What if we could have navigated loan decisioning more sure of the risks we were taking and found more members who needed our support?
- NCUA Board Meeting Coverage: With New Cyber Exam Procedures Coming Before Year-End, Cyber-Update Provided
October 20, 2022With its new Information Security Examination (ISE) procedures scheduled to go live for all credit unions before year-end, the NCUA board got an update on cybersecurity risks to both the agency and credit unions during its meeting today.
- NAFCU Credit Union Policy Podcast: Exploring the Risks and Benefits of BNPL Products
October 20, 2022NAFCU announces the release of Episode 7 of the NAFCU Credit Union Policy Podcast (aka the CUPP). This episode's topic: “Exploring the Risks and Benefits of BNPL Products for Your Credit Union.”
- CUNA Mutual Group: Corporate Check Fraud Alert - Oct. 20, 2022
October 20, 2022Credit union cashier's checks and/or corporate checks that closely resemble credit union authentic checks have been presented for payment at financial institutions in connection with scams.