Latest News & VACUL Headlines
- Mastercard to Bring Crypto Trading Capabilities to FIs
October 20, 2022Mastercard Inc. unveiled Crypto Source, a new offering that will allow banks and fintech companies to deliver cryptocurrency trading capabilities and services to their customers. The company's financial institution partners, in partnership with cryptocurrency custody providers, will be able to access a suite of buy, hold and sell services for select cryptocurrency assets.
- ValleyStar Credit Union Announces Chief Financial Officer
October 19, 2022ValleyStar Credit Union announces Mendy Shaffer as its chief financial officer.
- Call Report Due Date - Oct. 30, 2022
October 19, 2022Call Report is due no later than 11:59:59 P.M. Eastern as shown for the Sept. 30, 2022 call report cycle.
- Recession Fears Hit Risky Mortgage Debt Amid Default Concerns
October 19, 2022Investors are unloading securities sold by Fannie Mae and Freddie Mac that shift the risk of mortgage defaults away
from taxpayers, a sign of growing concern about defaults if rising interest rates cause a severe recession. The securities, called credit-risk transfers, could incur losses if rising defaults creep into the massive swaths of mortgage debt backed by the housing-finance giants. - FDIC Finalizes Rule Requiring Banks to Pay More for Deposit Insurance
October 19, 2022The Federal Deposit Insurance Corp. Board voted unanimously to finalize a rule requiring banks to pay more for deposit insurance, despite industry objections.
- League President Carrie Hunt Testifies at NCUA's Public Hearing on Budget Proposal
October 19, 2022League President/CEO Carrie Hunt testified Wednesday during an NCUA hearing on its 2023-2024 budget and the agency’s justification for its proposed expenditures.
- CFPB Research: Overdraft Fees and Economically Insecure Older Adults
October 19, 2022The Consumer Financial Protection Bureau has issued research that examines how overdraft fees affect economically insecure older adults.
- Bankers Betting Interest Rates Will Peak in First Half of 2023
October 19, 2022In the eyes of bankers, the U.S. is about three to nine months from seeing its highest interest rates in more than 15 years and perhaps even closer to an economic slowdown.
- SBA Wants to Add Fintechs to its Biggest Lending Program
October 19, 2022In what would be a major policy change, the Small Business Administration appears set to lift a 40-year moratorium on participation in the flagship 7(a) program by nondepository lenders.
- NCUA Releases Updates to its Automated Cybersecurity Evaluation Toolbox
October 18, 2022The National Credit Union Administration released an update of its Automated Cybersecurity Evaluation Toolbox or ACET. The ACET is an excellent resource — especially for small credit unions or credit unions with limited resources — to understand cybersecurity preparedness levels. To get the latest version, go to the ACET page and click on “Download the ACET Toolbox.” Additional information is also published in the Quick Installation Guide.