Latest News & VACUL Headlines
- 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.
- 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.