Latest News & VACUL Headlines
- NAFCU Compliance Blog: PMI/MIP Refresher
October 6, 2022Your mortgage borrower wants remove the private mortgage insurance (PMI) or mortgage insurance premium (MIP) from their loan. Here's a PMI/MIP refresher that may prove helpful.
- Banking Groups Belie Warren's Report Alleging Rampant Fraud on Zelle
October 5, 2022The American Bankers Association, Bank Policy Institute, Consumer Bankers Association and The Clearing House disproved a report issued by U.S. Sen. Elizabeth Warren, D.-Mass., that alleged rampant fraud and theft on the payment platform Zelle and that the banks who own the platform are not refunding the majority of defrauded customers as promised, potentially violating federal laws. Warren on Oct. 3 unveiled a report that included her investigation findings on Zelle, based on data provided by the banks.
- Langley Voted Excellence in Retail at the Retailer of the Year Awards
October 5, 2022Langley Federal Credit Union has been awarded the Excellence in Retail award in Services & Entertainment at the 2022 Retailer of the Year Awards.
- US Bank Branch Closures Slow from Pandemic-Era Record Highs
October 5, 2022Coming off of two consecutive record years, U.S. bank branch closures have now slowed considerably. After the COVID-19 pandemic greatly accelerated digital banking, U.S. banks began shuttering branches at a rapid pace, leading to a record number of closures in both 2020 and 2021. While branch closings still outpace openings, the pace of closures has slowed in the past two quarters.
- Virginia's Luria Among Candidates Garnering Support from CUNA, CULAC's $2.5M Spend on Campaign Ads
October 5, 2022Rep. Elaine Luria is getting a boost from credit unions this election season, with CUNA and the Credit Union Legislative Action Council (CULAC) funding an ad touting the Congresswoman's work to support veterans and their families.
- America’s Gross National Debt Exceeds $31 Trillion for First Time
October 5, 2022America’s borrowing binge has long been viewed by some policymakers as sustainable because of historically low interest rates. But as rates rise, the nation’s fiscal woes are getting worse.
- 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.