Latest News & VACUL Headlines
- Appeals Court Rules in Favor of Credit Unions in FCDPA Lawsuit
September 9, 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.
- Consumer Sentiment Around Buying, Selling of Homes Declines for Sixth Straight Month
September 9, 2022The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 0.8 points in August to 62.0, its sixth consecutive monthly decline, as high home prices and elevated mortgage rates continue to weigh on consumer sentiment, particularly home-selling sentiment.
- ‘Limit Or Eliminate’—Biden Executive Order Triggers Shock U.S. Bitcoin Ban Proposal After Radical Ethereum Upgrade And Wild Crypto Price Swings
September 9, 2022Bitcoin, using the energy-intensive proof-of-work consensus mechanism, could be banned in the U.S. under a proposal made by the White House Office of Science and Technology.
- Friend to CUs Rep. Brad Sherman Also Congress’ Leading Crypto Skeptic
September 9, 2022Rep. Brad Sherman’s views on cryptocurrencies set him apart from most of his colleagues in Congress. The Northridge-area Democrat isn’t just wary of crypto: He hates it and views it as a threat to the national security of the United States.
- Tidewater Chapter Donates $10,318 to CHKD
September 9, 2022The Tidewater Chapter donated $10,318.54 to Children's Hospital of the Kings Daughters, the Norfolk-based Children's Miracle Network Hospital. The Chapter raised the funds through its June charity golf tournament, with a matching contribution of $4,000 through the Co-op Miracle Match Program.
- Crash the GAC Returns with Its 14th Cohort in 2023!
September 8, 2022Filene Research Institute, the Cooperative Trust and Credit Union National Association (CUNA) are pleased to announce that Crash the GAC is bringing back its 14th cohort to Washington D.C. Applications for Crash the GAC are now open and the deadline to apply is Friday, December 2, 2022.
- GAO Study on FI Supervision: Lessons Learned from Remote Supervision during Pandemic Could Inform Future Disruptions
September 8, 2022The GAO today released a study on the federal banking agencies' pandemic-related changes related to examinations.
- Fed's Barr Hints at Reforms in Capital, Merger and Climate Policies
September 8, 2022The Federal Reserve's vice chair for supervision laid out an expansive vision for his approach to financial regulation in the Biden era on Wednesday, suggesting that the central bank would pursue significant reforms of banks' capital rules, climate-risk assessments and bank-merger reviews.
- Mortgage Rates Reach Highest Level Since 2008
September 8, 2022Mortgage rates reached their highest level since 2008, inching closer to 6% this week, as it became clearer to investors that aggressive rate hikes from the Federal Reserve would continue.
- Crypto Exchange Targets Treasury Sanctions in National Security Clash
September 8, 2022Coinbase, the largest U.S.-based cryptocurrency exchange, is bankrolling a lawsuit against the Treasury Department challenging its decision to sanction a program that allowed North Korean hackers and other illicit actors to launder billions of dollars’ worth of digital tokens.