Latest News & VACUL Headlines
- CUs, League Host NCUA Chairman Todd Harper
September 30, 2022Your League and member credit unions hosted National Credit Union Administration Board Chairman Todd Harper this week at the CEO Summit, our annual event for large credit unions.
- Congress Votes to Avert Government Shutdown
September 30, 2022The House has passed an interim funding bill to tide federal agencies over until mid-December. The vote came a day after the Senate approved the measure, and should prevent a government shutdown that would have gone into effect at midnight Saturday morning.
- Hurricane Ian Update From LSCU: 'Could Have Been a Lot Worse'
September 30, 2022As the sun rose on Thursday to the vast amount of damage left behind by the massive Hurricane Ian to many southeastern Florida communities, the League of Southeastern Credit Unions President/CEO Patrick LaPine said the early reports from credit unions in the path of the storm haven’t been as bad as they could have been. “You know, it could have been a lot worse,” LaPine said during an interview with CU Times early Thursday afternoon. To donate to Hurricane Ian relief efforts, LaPine asked people to give to the American Red Cross or the NCUF’s CUAid program.
- Fed Proposes Permanent Extension of Real Estate Debt Leniency
September 29, 2022In a policy statement proposed this week, Fed staffers petitioned the Board of Governors to make a series of tweaks to its supervisory policies that would allow financial institutions to accommodate delinquent real estate borrowers and restructure troubled loans without being penalized.
- For Community Lenders, Net Interest Margin Pressure Looms Large
September 29, 2022Community lenders are increasingly concerned about the downsides of rising interest rates — notably, weaker economic conditions and upward pressure on deposit costs.
- Yellen Tells White House She'll Stay as Treasury Chief Past Midterms
September 29, 2022Janet Yellen, eager to see through crucial projects, has told White House officials she's prepared to remain Treasury secretary well after the midterm elections, according to people familiar with the discussions.
- CUNA’s Gose Details Pushback on Interchange Bills
September 29, 2022CUNA Chief Political Officer Richard Gose appeared on CUBroadcast this week to provide an update on CUNA, League, and credit union opposition to House and Senate interchange bills. The Credit Card Competition Act (S.4674 and H.R. 8874) would allow merchants to route payments through an unaffiliated network.
- Are Labor Market Forces Stretching Your Collections Team Too Thin?
September 29, 2022In his Q3 Economic Outlook for Financial Institutions, SWBC’s Chief Economist, Blake Hastings, provided the following insights on deteriorating member balance sheets and rising delinquencies ...
- Big Banks Fight Rising Capital Requirements by Managing Down Risk Exposures
September 29, 2022Systemically important U.S. banks appear to have made progress managing down risk scores that determine part of their regulatory capital requirements.
- Home Sales Rise in August, But the Numbers are an Anomaly, Says Economist
September 29, 2022New home sales rose at an accelerated rate of 28.8% in August to 685,000 annualized units, but the surge is due to a data anomaly, according to NAFCU’s chief economist.