Latest News & VACUL Headlines
- Filene Research Institute Partners with Two Organizations to Create a Multi-phased Incubator
October 4, 2022Urban Strategies, Inc. and Native Women Lead join Filene to advance racial economic equity.
Madison, Wis. – Filene Research Institute is partnering with Urban Strategies, Inc. and Native Women Lead to create the Racial Economic Equity (REE) Incubator. The REE Incubator will work to advance racial economic equity through the credit union system by co-creating solutions that meet local community members’ needs and delivers resources, support and capital to communities of color.
- Fed Finalizes Updates to Debit Card Transactions Rule
October 4, 2022The Federal Reserve Board finalized revisions to the rule governing debit card transactions, which will become effective July 1, 2023.
- Virginia CU's Chris Saneda Shares Robotic Strategies for Credit Unions
October 4, 2022Virginia Credit Union Sr. SVP/COO Chris Senada and his very cool suspenders joined us in the Studio Lounge to share his highlights and takeaways from the CUNA Technology Council and CUNA Operations & Member Engagement Council Conferences. Chris, being a former Technology Council Executive Committee Member, had a very unique and experienced take on the event.
- CUNA Supports CRE Loan Accommodations, Workout Policy Statement
October 4, 2022A joint agency proposed policy statement on commercial real estate (CRE) loan accommodations and workouts is a thorough and well-supported update to existing guidance, CUNA wrote to NCUA Monday. NCUA—and other federal financial regulators—proposed the update, as the last one was made in 2009.
- FFIEC Announces Update to Cybersecurity Resource Guide for FIs
October 4, 2022The Federal Financial Institutions Examination Council (FFIEC), on behalf of its members, is issuing an update to the October 2018 Cybersecurity Resource Guide for Financial Institutions. The programs and tools in the guide are designed for, or otherwise available to, financial institutions. The purpose of this guide is to help financial institutions meet their security control objectives and prepare to respond to cyber incidents. For more information and to view a link to the updated FFIEC Cybersecurity Resource Guide, visit the NCUA Cybersecurity Resources webpage.
- Some Large Banks Said to Reimburse Less than 50% of Consumer Fraud Claims on Zelle
October 4, 2022Large banks that own the payment platform Zelle on average are reimbursing less than 50% of fraud claims reported by consumers who say money was stolen from their accounts by fraudsters, and that practice could violate federal law, according to a major critic of the industry on Capitol Hill.
- FSOC Calls for Legislation on Crypto Spot Markets
October 4, 2022The Financial Stability Oversight Council published its report on crypto regulation Monday, calling for the most significant and specific action from Congress yet out of the batch of reports written at the behest of President Biden.
- FinCEN Publishes Final Rule Around Beneficial Ownership Reporting Requirement
October 4, 2022The Financial Crimes Enforcement Network has issued a final rule establishing a beneficial ownership information reporting requirement. The rule, effective Jan. 1, 2024, sets a 30-day deadline for newly created entities to file initial beneficial ownership reports, while requiring existing entities to submit an initial beneficial ownership report within one year of the effective date.
- NCUA Resource: Sign Up to Receive Call Report, Cybersecurity Information
October 4, 2022The National Credit Union Administration invites credit unions to sign up for information on topics related to Call Reports and cybersecurity.
- White House Unveils Technical Standards Guidance in 'AI Bill of Rights'
October 4, 2022The White House Office of Science and Technology Policy released an "AI Bill of Rights" white paper on Oct. 4 that provides guidance on developing technical standards and policies to reduce unintended harm caused by artificial intelligence or automated data-processing systems.