Latest News & VACUL Headlines
- Virginia-Based LICUs Among NCUA Grant Recipients
September 16, 2022NCUA has awarded more than $1.5 million in Community Development Revolving Loan Fund grants to help 90 low-income credit unions expand outreach to underserved communities, participate in mentoring relationships, receive training, and improve digital services and security. Virginia-based credit unions Richmond Heritage, RVA Financial and Virginia Educators are among the grant recipients.
- DHS Launches $1B Cybersecurity Grant Program for Critical Infrastructure Systems
September 16, 2022Critical infrastructure entities will get access to increased cybersecurity protections through a new funding mechanism announced by the White House this morning. The U.S. Department of Homeland Security launched a grant program providing state, local and territorial governments $1 billion in funding to strengthen the cybersecurity capabilities of critical infrastructure.
- Credit Unions, Merchants Out in Force on Capitol Hill on Opposite Side of Bill
September 16, 2022As credit unions represented by both NAFCU and various state leagues were hiking the Hill this week to lobby against the proposed interchange bill, more than 200 merchant trade associations and close to 1,700 companies were -- at the same time -- arguing the opposite point of view. Your League met this week (in-person, via virtual meeting or both) with Reps. Rob Wittman (R-1st) and Elaine Luria (D-2nd) to discuss interchange and other federal-level priorities, including overdraft programs. During the past six weeks, we've met with every member of our Congressional delegation -- in some cases, multiple times -- to lobby for our issues.
- What's Still Missing from Crypto Payments?
September 16, 2022Even though severe valuation declines have hit the cryptocurrency market in 2022, actual use of cryptocurrency is increasing.
- CFPB, FTC Say Court Ruling Would Undercut Credit Reporting Law
September 16, 2022The Consumer Financial Protection Bureau and the Federal Trade Commission say that a 2021 federal court decision could limit protections for consumers looking to remove errors on their credit reports.
- White House Urges Regulators to 'Redouble' Crypto Oversight Efforts; Notes Study of Central Bank Digital Currency
September 16, 2022The White House has released a series of reports, including from the Treasury Department, outlining a federal plan for digital-asset regulation and study of the creation of a central bank digital currency.
- Will New Merchant Code for Gun Sales Turn Issuers into 'Morality Police?'
September 16, 2022Now that the International Organization for Standardization has approved a new code to identify purchases at stores that sell guns and ammunition, many groups are speaking up about threats to privacy and second-amendment rights.
- League, CUs Engage With Lawmakers During Busy Week on Capitol Hill
September 16, 2022Your League and member credit unions met this week (in-person, via virtual meeting or both) with Rep. Rob Wittman (R-1st), Rep. Elaine Luria (D-2nd), and Sens. Mark Warner and Tim Kaine to discuss interchange and other federal-level legislative priorities. During the past eight weeks, we've met with every member of our Congressional delegation -- in some cases, multiple times -- to lobby for our issues.
- Why Crypto Users are Coming to Credit Unions
September 16, 2022Credit union members are embracing crypto at a faster pace than non-members. Says one CU CEO: "When the markets evolve to a point where consumers can actually pay their bills with digital currency, we'll be ahead of the curve."
- NCUA Releases Q2 2022 State-Level Credit Union Data Report
September 15, 2022Federally insured credit unions experienced continued growth in assets, shares and deposits, and loans outstanding over the year ending in the second quarter of 2022, according to the latest NCUA Quarterly U.S. Map Review, released today by the National Credit Union Administration.