Latest News & VACUL Headlines
- Interchange Bills Would Increase Costs, Decrease Financial Access
September 27, 2022The Credit Card Competition Act would push more people away from access to financial products and services. CUNA, Leagues, and credit unions strongly oppose the bill, introduced by Sens. Roger Marshall, R-Kan., and Duck Durbin, D-Ill., in the Senate and Reps. Lance Gooden, R-Texas, and Peter Welch, D-Vt., in the House.
- Spectra FCU's Kristin Shultz Recognized as 2022 Credit Union Rock Star
September 27, 2022Congratulations to newly minted Credit Union Rock Star, Kristin Shultz, CEO of Spectra Federal Credit Union (Alexandria)!
- Debit Card Fraud Wave Hits Small Ohio Credit Union
September 27, 2022A small credit union in Ohio that has been hit by a flurry of hacks to member debit cards said it is part of a “massive” wave of similar attacks worldwide.
- FIs Point to Law Enforcement for Solutions in Combating P2P Fraud
September 27, 2022Financial institutions want law enforcement agencies to commit more time and resources to help combat fraud in real-time payments even as the Consumer Financial Protection Bureau is looking into holding banks and payment processors liable for errors made by consumers.
- Powell: Stablecoin Regulation Belongs to the Fed
September 27, 2022Federal Reserve Chair Jerome Powell said stablecoins are a type of private money and need to be regulated as such.
- CFPB Launches Effort to Spur New Opportunities for Homeowners in the Mortgage Market
September 27, 2022The Consumer Financial Protection Bureau (CFPB) is asking for public input on ways to spur new mortgage products that help households. The CFPB seeks insights on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances.
- National Credit Union Foundation Commits $250K to Hurricane Fiona Relief
September 27, 2022The National Credit Union Foundation has committed up to $250,000 from its CUAid program to support Puerto Rico-based credit union employees and volunteers affected by Hurricane Fiona. The grant will be made to the Inclusiv Network (Inclusiv), which will then manage individual donations to those affected by the hurricane.
- League Sends New Round of Letters to Congress on Interchange
September 27, 2022Following the recent introduction of a House version of the Credit Competition Act of 2022 (H.R. 8874), your League sent a new round of letters to every member of our Congressional delegation, noting our opposition to the House and Senate legislation and to any proposed changes to the current payments system.
- Delinquencies on Auto Loans Originated in ’21, ’22 Are Starting to Rise Relative to Earlier Loans, New Analysis Finds
September 27, 2022A new analysis has found that auto loans originated in 2021 and 2022 are starting to show higher delinquency rates relative to loans originated in previous years, even when compared to loans unaffected by pandemic-related stimulus payments.
- Minority Depository Institution Credit Unions Continue to Serve Members and Communities
September 27, 2022The National Credit Union Administration today released its annual report to Congress on the performance of minority depository institution (MDI) credit unions and the agency’s work to support them. MDI credit unions experienced growth in membership, assets, and loans in 2021 as they continued to provide safe, fair, and affordable financial services to their members and communities.