Latest News & VACUL Headlines
- 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.
- New Fed Banking Chief Michael Barr Lays Out Vision on Digital Currency; Keeping Banks Safe
September 8, 2022The Federal Reserve’s vice chairman for supervision Michael Barr said in his first policy speech Wednesday that he would work to make the financial system more fair and safe on several fronts. He called on Congress to pass a “much needed” law to bring stable coins inside the prudential regulatory perimeter, as the central bank continues to study a potential digital-based currency for the U.S. Federal Reserve. Generally, prudential regulation may include minimum capital or liquidity requirements as well as supervisory inspection of an asset class.
- House Republicans Want Answers From Fed on Digital Dollar
September 8, 2022U.S. Republican lawmakers are demanding answers from a top Federal Reserve official on how the central bank views its powers to issue a digital dollar.
- Regulators Take Tough Look at Small Banks' Partnerships with Fintechs
September 7, 2022Small banks that partner with fintech companies can expect more governmental scrutiny of those arrangements, industry observers said in response to a recent enforcement action against a community bank in Virginia.
- Banks' Tech Upgrades Can Hinder Financial Inclusion, Treasury Official Warns
September 7, 2022When banks make changes to improve services for some customers, those same moves could put up new barriers to minorities and other underserved groups, a Treasury Department official warns.
- Home Equity Loans Back in Vogue as Cash-Out Refis Fade
September 7, 2022Higher interest rates are crushing mortgage refinancing volumes, but homeowners are increasingly turning to second loans and are unlikely to slow down soon.