Latest News & VACUL Headlines
- Importance of DEI in the Governance of Credit Unions
October 13, 2022Today, a strong governance model should not only embrace the traditional fiduciary, strategic, and generative models, but also the positive and sweeping implications of diversity, equity, and inclusion (DEI) in its modus operandi.
- Credit Card Competition Act, NCUA Third-Party Authority Absent from Senate NDAA Agreement
October 12, 2022Lawmakers have released the text of the bipartisan agreement on a Senate substitute amendment for the National Defense Authorization Act (NDAA), which is likely be considered by the Senate in November. Absent from the list of amendments included in the substitute are the Credit Card Competition Act of 2022 and NCUA Third Party Vendor Authority, marking wins for the credit union industry, which has fought hard against the inclusion of those two measures in the NDAA and a third proposal that seeks to study interchange costs for those in the military, which is also absent from the substitute amendment.
- The Hidden Dangers in the Fed's Balance-Sheet Reduction
October 12, 2022The Federal Reserve's balance sheet runoff is picking up steam after its monthly cap on unreplaced maturities doubled to $95 billion last month. Last week alone, it shed $37 billion of assets.
- Edward Jones Abandons Plan to Open Industrial Bank
October 12, 2022The financial advisory firm Edward Jones has abandoned its effort to open a Utah-based industrial bank following recent discussions with the Federal Deposit Insurance Corp.
- 'Ransomware in the Financial Sector' Webinar Oct. 13
October 12, 2022During Cybersecurity Awareness Month, the NCUA is teaming up with the FBI, Treasury Department, and the Wisconsin Department of Financial Institutions to host an Oct. 13 webinar that will discuss measures credit unions and individuals can take to protect themselves from a ransomware attack.
- Reminder: Lending Risks Webinar Oct. 12
October 12, 2022A successful, well-run lending program does not happen by accident. Join CUNA Mutual Group's expert panelists as they share insights, perspectives, risk, and compliance considerations related to lending in this live Q&A session.
- CUNA, Leagues Support Bipartisan Senate Fair Hiring Bill
October 12, 2022CUNA and Leagues support the Senate Fair Hiring in Banking Act (H.R. 5025), introduced by Sens. Joe Manchin, D-W.V., Thom Tillis, R-N.C., Chris Van Hollen, D-Md., and Chris Coons, D-Del. The bill would allow for greater employment opportunities at federally insured financial institutions by reducing barriers to employment based on past criminal offenses.
- Mortgage Credit Availability Falls to Lowest Point since 2013
October 12, 2022Mortgage credit tightened in September, dropping to its lowest level since 2013, as lenders continued to reduce government-refinance and non-QM offerings, according to the Mortgage Bankers Association.
- Crypto Attack Swipes $100 Million from DeFi Service Mango
October 12, 2022An attacker spirited away about $100 million from the decentralized finance provider Mango by manipulating the price of its token in an exploit that wiped out depositors on the crypto platform.
- NAFCU Compliance Blog: Spooky CFPB Enforcement Actions on Remittance Transfers and Overdraft Fees
October 12, 2022If you haven’t already, it’s time to get into the spirit of Halloween. And what better way to do that than reviewing some spooky CFPB enforcement actions.