Latest News & VACUL Headlines
- CFPB Unlikely to Take Immediate Action on Buy-Now, Pay-Later Sector
September 29, 2022The Consumer Financial Protection Bureau balanced its view on buy now, pay later in its latest study by specifying areas of concern and recognizing the sector's potential to grow.
- NCUA Posts 2023–2024 Proposed Budget, Sets October 19 Public Briefing
September 29, 2022The National Credit Union Administration’s staff draft budget for 2023–2024 is now available on the agency’s website for review and comment. The staff draft budget has also been submitted for publication in the Federal Register, and the comment period is open until Oct. 28, 2022.
- Experian Report Underscores Dealers' Need for Credit Union Partnerships
September 29, 2022As the new-car inventory shortage continues, more shoppers turn to used vehicles and credit union financing to offset sticker shock.
- House Passes Credit Union Board Governance Modernization Act; Virginians Luria, Griffith Among Original Co-Sponsors
September 29, 2022The House passed the CUNA-League-led Credit Union Board Governance Modernization Act (H.R. 6889) Thursday. The bill was introduced by Reps. Juan Vargas, D-Calif., and Anthony Gonzalez, R-Ohio, and spearheaded by CUNA, the California Credit Union League, and the Ohio Credit Union League.
- NCUA Introduces Several Process Improvements to Enhance the CU Diversity Self-Assessment Experience
September 28, 2022To increase the accessibility and functionality of the Credit Union Diversity Self-Assessment, the NCUA has introduced several process improvements. These enhancements include additional details for submitting surveys, improved navigation, pre-population of certain fields, and compliance with the 21st Century Integrated Digital Experience Act. The modernization also upgrades security and ensures data integrity and confidentiality.
- Interchange Bill Prioritizes Large Retailers Over Consumers
September 28, 2022CUNA joined other financial services organizations in a letter to House leadership highlighting strong opposition to the interchange bill from Reps. Lance Gooden, R-Texas, and Peter Welch, D-Vt. The organizations warn warning the bill would reduce access to credit, increase security risks associated with credit card use, and limit credit card rewards programs.
- Senate Moves Ahead on Short-Term Spending Bill
September 28, 2022The Senate moved ahead on a short-term spending bill to avoid a partial government shutdown later this week.
- CU Trades Argue Interchange Bill a Threat to Credit Access
September 28, 2022Credit union trade organizations CUNA and NAFCU, along with six other groups, delivered a letter to U.S. House of Representatives leaders to raise their dire concerns over a bill that could reduce access to credit and credit card use for consumers.
- Registration Open for NCUA Webinar on Defending Against Ransomware Attacks
September 28, 2022A ransomware attack on your credit union could inflict serious financial damage and pose reputation risk. The National Credit Union Administration is teaming up with the FBI, Treasury Department, and the Wisconsin Department of Financial Institutions to host an Oct. 13 webinar to discuss how to protect your credit union and your members.
- President Biden Cites Bank 'Junk Fees' as Weighing Down Families
September 28, 2022Cracking down on so-called 'junk fees' is turning out to be good politics. President Biden admonished banks and specifically mentioned bank 'junk fees' in remarks Monday to the White House Competition Council in which the administration took credit for the dramatic drop in overdraft and nonsufficient-funds fees in the past year.