VACUL Headlines
- Bill Debuts in Senate That Would Create $2B Emergency Fund for CDFIs
May 13, 2022A dozen senators led by Senator Brian Schatz (D-HI) have introduced legislation in the Senate Banking, Housing and Urban Affairs Committee that would create a new $2-billion emergency fund for community development financial institutions (CDFIs).
- Redirecting the Focus of Ransomware in Our Credit Unions
May 13, 2022With ransomware no longer being a possibility, but a guarantee, CUs must be proactive and keep detection top of mind.
- Yellen Calls for Stablecoin Regulation
May 13, 2022Treasury Secretary Janet Yellen reiterated her call for Congress to regulate stablecoins following a significant decline this week in TerraUSD, The Wall Street Journal reported.
- NCUA Details Its AI Programs, Asks Congress for Third-Party Vendor Authority
May 13, 2022During a Friday hearing on Capitol Hill about artificial intelligence (AI) and RegTech, an official with the NCUA testified about the AI challenges facing the agency and the growing need for approval from Congress for the NCUA to have third-party vendor authority over those organizations supplying AI technology to credit unions.
- Aggressive Fed Throws Wrench into FIs' Deposit-Cost Plans
May 13, 2022Financial institutions started the year thinking they could hold off on raising the deposit rates they pay to customers, but a more aggressive Federal Reserve is starting to change that calculus.
- Remote Notarization Becoming a Must-Have Offering?
May 13, 2022Notarizing documents entirely over video was a matter of safety at the beginning of the pandemic, when people were eager to refinance their homes or take out loans but hesitant to congregate in person. Now, it’s about convenience and efficiency.
- Virginia Credit Union to Open New Location in Carytown
May 13, 2022Virginia Credit Union will open its newest branch location in the Carytown Place Shopping Center, 10 N. Nansemond Street, on Monday, June 13.
- Chopra's Expansive Vision for CFPB Authority is Facing Industry Pushback
May 13, 2022A dizzying number of policy changes and enforcement actions by the Consumer Financial Protection Bureau in recent weeks has prompted aggressive pushback from banks and industry executives.
- Four Ways Cannabis Banking Could Cross the Finish Line in 2022
May 13, 2022The legalization of cannabis banking looks as likely as ever, but the road lawmakers will take to get there remains an open question. After years of stasis, many policy analysts are suddenly bullish on the reform’s odds of passage.
- Nacha's Payments Innovation Alliance Releases Guide Addressing Contractual Considerations of Voice Payments
May 12, 2022Nacha's Payments Innovation Alliance has created a legal and risk mitigation resource guide for financial institutions seeking to implement voice payments capabilities and applications (skills) through smart devices, such as the Amazon Echo and Google Nest.