Latest News & VACUL Headlines
- Could Credit Card Late Fees Drop to $10?
January 19, 2023Credit card late fees could drop dramatically under a proposal expected to be released soon by the Consumer Financial Protection Bureau. Some analysts are predicting that late fees could be cut in half to as low as $15, while consumer advocates want the CFPB to reduce late fees to as low as $9 or make them proportional to the debt owed by a cardholder.
- Aaron Rouse Sworn into Virginia Senate
January 18, 2023Aaron Rouse was sworn into the Virginia Senate Wednesday, filling an open seat that gives Democrats a 22-18 majority in the chamber. State Sen. Rouse (D-Virginia Beach) defeated Republican Kevin Adams in a Jan. 10 special election for the state Senate seat once held by Rep. Jen Kiggans (R-Va.) before her congressional victory in the 2022 midterms.
- CFPB Says Servicers Should Offer Loss Mitigation Beyond COVID Hardships
January 18, 2023The Consumer Financial Protection Bureau said it expects mortgage servicers to continue offering forbearances, deferrals and loan modifications to consumers experiencing financial hardships unrelated to the COVID-19 pandemic.
- HB1727, CUs' Digital Asset Custody Services Bill, Passes the House
January 17, 2023HB1727, our credit union bill, had its third and final reading on the House floor today, meaning it has officially passed the chamber and moves to the state Senate for consideration.
- Credit Union Day at the General Assembly: 170 CU Advocates Joining Us at the Capitol on Thursday!
January 17, 2023More than 170 credit union advocates representing 38 credit unions from across the Commonwealth will gather at the state Capitol on Thursday for Credit Union Day at the General Assembly.
- 3 Virginians Among the 2023 GAC Crashers
January 13, 2023The 2023 GAC Crashers have been tapped from the largest applicant pool of credit union rising leaders in the program’s 14-year history. Three Virginians are among those selected to Crash the GAC: Courtney Gray - Marketing & Business Development Manager- Spectra Credit Union; Stephanie Potter - VP of Brand - ValleyStar Credit Union; and Tyjai Richardson - Member Liaison Specialist - Chartway Federal Credit Union
- CU's Digital Asset Custody Services Bill Passes House Committee in Unanimous Vote
January 13, 2023Credit unions won a victory Thursday, with our virtual currency custodian bill (HB1727) reporting out of the House Commerce and Energy Committee on a unanimous 22-to-0 vote. It now moves to the House floor for consideration. Passage in the House will send the measure to the state Senate for consideration.
- The 2023 Risk Landscape
January 12, 2023Amanda Parkhill, deputy director at NCUA’s office of examination and insurance, explained how the threat of a recession and continued economic challenges will affect key risk factors in early 2023 during CUNA’s 2022 Supervisory Committee and Internal Audit Conference in Las Vegas.
- CUNA Meets with Congressional Leaders Over CDFI Application Concerns
January 12, 2023CUNA and other organizations met with House Financial Services and Senate Banking, Housing, and Urban Affairs leadership staff Tuesday to discuss proposed changes to the Community Financial Development Institution (CDFI) Fund certification application.
- Get Recognized for Your Good Works in Community Involvement, Financial Education and Member Service
January 12, 2023Your League and CUNA want to recognize and honor your good work in serving your members, bettering your community, and arming individuals with the knowledge they need to successfully manage their finances.