Latest News & VACUL Headlines
- NAFCU Compliance Blog: Mortgage Servicing Transfer Notices
September 14, 2022Let's look at mortgage servicing transfer notices. In particular, let's discuss the timing and content requirements.
- CUs, League Make Case for ‘Credit Union Difference’ in Meeting with CFPB's Chopra; Note Impact of ‘One-Size-Fits-All’ Regulation, Ever-Evolving Regulatory Challenges
September 13, 2022In a meeting Monday with Consumer Financial Protection Bureau Director Rohit Chopra and Senior Policy Advisor (External Affairs) Charles Johanek, your League and leaders from 12 member credit unions discussed our regulatory priorities and how our ability to serve members is affected by an ever-evolving -- and challenging -- regulatory landscape.
- Registration Opens for NCUA DEI and ACCESS Summit Nov. 2-4
September 13, 2022The National Credit Union Administration will host its third summit focused on diversity, equity, and inclusion Nov. 2–4, 2022. The theme of this year’s summit is All-In on DEI & ACCESS. ACCESS represents NCUA’s initiative for Advancing Communities through Credit, Education, Stability, and Support.
- FTC to Convene First Meeting of Scams Against Older Adults Advisory Group on Sept. 29
September 13, 2022Representatives from 13 federal and state government agencies, along with representatives from industry and consumer advocates, will join the Federal Trade Commission on Sept. 29 for the first meeting of the newly formed Scams Against Older Adults Advisory Group. The advisory group was created as part of the Stop Senior Scams Act passed in March of this year.
- NCUA Preparing to Issue Guidance on Fintech Partnerships
September 13, 2022Similar to banking regulators, the National Credit Union Administration is concerned about the risks associated with financial technology companies. Speaking Monday at a conference held by NAFCU, NCUA board member and former Chairman Rodney Hood said the credit union regulator is developing a rule related to the integration of fintech.
- NAFCU Compliance Blog: NCUA Responds to Rising Rates by Revising Interest Rate Risk Framework
September 13, 2022NCUA recently published letter to credit unions 22-CU-09 and an accompanying supervisory letter, which both discuss changes to the Interest Rate Risk (IRR) framework. Let’s review this topic ...
- Late Night ACH File Delivery for Many Begins Sept. 12
September 12, 2022Late night ACH file deliveries have begun for many financial institutions as of Monday, Sept. 12. For others, the new part is Friday night file deliveries starting Sept. 16.
- CISA Welcomes Public Input on New Cyber Incident Reporting Requirements
September 12, 2022The Cybersecurity and Infrastructure Security Agency (CISA) announced its plans to issue a Request for Information (RFI) soliciting public input on approaches to implementing the cyber incident reporting requirements, pursuant to the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA), which President Biden signed into law in March 2022. The RFI will publish in the Federal Register on Monday, Sept. 12 and provide the public with 60 days to provide their written submissions.
- Appeals Court Rules in Favor of Credit Unions in FCDPA Lawsuit
September 12, 2022The 11th Circuit Court of Appeals vacated the plaintiff’s standing Thursday in Hunstein v. Preferred Collection and Management Services Inc., a Fair Debt Collection Practices Act (FDCPA) lawsuit. CUNA filed a brief stating that a ruling for the plaintiff would threaten the functioning of debt collectors, mortgage servicers, and the broader financial services industry.
- Merchant Code for Firearms Sales Gets a Green Light
September 12, 2022A new code identifying credit card sales of guns and ammunition has been approved by the International Standards Organization, creating a potential path for card networks to help law enforcement agencies identify suspicious sales of guns and ammunition.