VACUL Headlines
- Scams Target Older Americans at an Alarming Rate
May 17, 2022The number of elderly victims impacted by fraud has risen at an alarming rate, while the loss amounts are even more staggering.
- CFPB Providing Guidance to Other Agencies on Enforcing Federal Consumer Financial Law
May 17, 2022To promote consistency among enforcers and fair competition in the market, the Consumer Financial Protection Bureau (CFPB) is launching a new system to provide guidance to other agencies with consumer financial protection responsibilities on how the CFPB intends to enforce federal consumer financial law. The CFPB will issue Consumer Financial Protection Circulars to the broad set of government agencies responsible for enforcing federal consumer financial law.
- Did the TerraUSD Crash Tarnish the Concept of Stablecoins?
May 17, 2022When a stablecoin that was supposed to always be worth one U.S. dollar, TerraUSD, tanked last week, it sent a shock across the cryptocurrency markets. But did that crash tarnish the entire concept and value of stablecoins?
- Three CU-Related Bills Head to Markup in House Today, Including Bill Giving NCUA Oversight of Third Parties
May 17, 2022Three bills of strong interest to credit unions are on the agenda for markup by the House Financial Services Committee, one of which “poses a costly threat to the credit union industry,” according to NAFCU.
- Pages From the Diary of Mrs. C. Hunt - A Little Bit Dirrrty
May 17, 2022Let's dish some dirt and talk EMERGE Conference and today's House Financial Services Committee's markup of credit union legislation
- ‘Significant Risks’ Remain for Many Homeowners in Making Mortgage Payments, CFPB Report Finds
May 17, 2022The Consumer Financial Protection Bureau (CFPB) has published a report examining mortgage servicers’ responses to the COVID-19 pandemic, which it said reveals homeowners continue to face significant risks and challenges connected to working with their mortgage servicers.
- Supreme Court Ruling Means CFPB Must Start Over on Payday Loan Rules, Attorney Argues
May 17, 2022A Fifth Circuit Court panel is questioning whether a U.S. Supreme Court ruling requires the Consumer Financial Protection Bureau to invalidate a 2020 payday rule and to restart the process of new payday loan regulations.
- FOM Modernization Bill is Free-Market Solution to Address Financial Access
May 17, 2022CUNA wrote in support of several bills scheduled for markup Tuesday by the House Financial Services Committee, including the Expanding Financial Access for Underserved Communities Act, Close the ILC Loophole Act, and CDFI Bond Guarantee Improvement Act.
- FOM Modernization, ILC Loophole Legislation Scheduled for Markup
May 17, 2022The House and Senate are both in Washington, D.C., this week. The House Financial Services Committee will mark up several bills Tuesday, including the CUNA-League-supported Expanding Financial Access for Underserved Communities Act (H.R. 7003).
- USAA Scores Mobile Deposit Capture Patent Win Against PNC
May 17, 2022USAA continues to take on its large-bank rivals with patent suits. A court in Marshall, Texas, has awarded the San Antonio company $218 million in damages over its claims that PNC Bank infringed four USAA patents related to remote check deposit technology.