WASHINGTON–A letter to NCUA Chairman J. Mark McWatters from Senate Finance Committee Chairman Orrin Hatch (R-UT) that questions the validity of the credit unions' federal tax exemption has drawn responses from both credit unions and bank groups alike, with the latter saying it’s pleased to see someone challenging what it called the “credit union power grab.”
Fresh Today
DES MOINES, Iowa–Iowa’s bankers have launched a multi-media campaign that includes television ads calling for an end to the credit union tax exemption.
WASHINGTON—A report published by the U.S. Government Accountability Office (GAO) has found weaknesses in the way financial regulators assess the impact proposed rules could have on small institutions and the economy.
WASHINGTON—Products and services from fintech companies should offer the same consumer protections as those offered by regulated entities, CUNA told a House subcommittee.
TEMPE, Ariz.—One analyst is suggesting that the problems with taxi medallion loans in New York City are already reaching CUs outside the Empire State.
WASHINGTON—The Department of Defense is being told that there are the compliance challenges associated with the DoD's explanation of guaranteed acceptance protection (GAP) insurance housed within the Military Lending Act (MLA) rule.
ALEXANDRIA, Va.–NCUA issued one prohibition order and three notices of prohibition in January.
WASHINGTON—The Senate Banking Committee is being urged to ensure credit unions' access to the secondary mortgage market in any housing finance reform legislation it considers.
BERRIEN SPRINGS — A planned merger between Honor Credit Union and a bank has been called off.
GRAND RAPIDS, Mich.–CU*Answers is inviting CFO and accounting managers to attend a full-day CFO Strategies Roundtable event, covering topics that are important to today’s credit union financial leaders.