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Latest News Posts
- REGular Blog: SCOTUS finds CFPB's Funding Structure Constitutional
May 17, 2024In a 7-2 opinion released Thursday, the Supreme Court ruled that the CFPB's funding structure did not violate the U.S. Constitution, overturning a decision from the 5th Circuit Court of Appeals.
- VACUL Announces Board Election Results; New Officers
May 17, 2024Member credit unions elected the following individuals to the Virginia Credit Union League Board of Directors. The League is the statewide trade association for the Commonwealth's 99 member-owned, not-for-profit credit unions.
- Introducing Virginia Credit Union League’s Newest Hire Stephen McNiff
May 16, 2024The Virginia Credit Union League is thrilled to welcome Stephen McNiff to our team. As our new consultant for small and medium-sized member credit unions, Stephen brings a robust background in financial services that will greatly enhance the support we offer
- Report: CFPB Examines Credit Card Rewards Challenges
May 16, 2024The Consumer Financial Protection Bureau (CFPB) recently turned its attention to issues in credit card rewards programs, which could impact credit unions significantly. Their findings highlight concerns like vague terms, reward devaluation, and redemption issues—common problems that can frustrate cardholders and complicate credit management.
- Court Halts CFPB Rule on Credit Card Late Fees Amid Constitutional Concerns
May 16, 2024A Texas court has temporarily stopped the Consumer Financial Protection Bureau's (CFPB) new rule that would cap credit card late fees at $8. The preliminary injunction highlights constitutional questions concerning the CFPB's funding and halts the rule's implementation amid discussions on its impact on credit unions and the broader financial industry.
- Assessing the Impact of High Interest Rates on Inflation
May 16, 2024The Federal Reserve's recent strategy of increasing interest rates to temper inflation has shown mixed results, as detailed in recent statements from Fed officials. While the rates have reached a 23-year peak, their direct impact on consumer behavior and inflation remains uncertain, pointing to potentially prolonged high rates.
- Clutch Partners with the Virginia Credit Union League to Revolutionize Consumer Banking
May 16, 2024Clutch, a leading fintech platform specializing in omni-channel consumer loan and deposit account opening solutions exclusively for Credit Unions, proudly announces its strategic partnership with the Virginia Credit Union League.
- Sparrow and Virginia Credit Union League Unite to Empower Gen Z & Millennial Financial Futures
May 16, 2024Sparrow, a trailblazer in fintech disruption, is thrilled to announce a strategic partnership with the Virginia Credit Union League (VACUL), a historic organization championing the interests of credit unions across Virginia. This collaboration marks a new dawn in financial engagement, tailored to meet the unique needs and aspirations of Gen Z and Millennial members.
- Freedom First Lends $162 Million in Economically Distressed Areas in 2023 Direct Community Giving Exceeds $525,000
May 16, 2024Freedom First Credit Union invites you to review our newly released 2023 Community Impact Report. This report provides details of the targeted investment, economic development, financial education, and community outreach we accomplished in 2023.
- BayPort Foundation Charity Golf Classic Raises Over $165,000
May 16, 2024The BayPort Foundation is excited to announce that it has raised over $165,000 at its third annual Charity Golf Classic event, hosted on May 9, 2024. Fifty-two businesses sponsored the tournament, including the 84 golfers who played the award-winning golf course at the James River Country Club in Newport News.