WASHINGTON—Credit unions will be paying attention to a hearing by the Senate Committee on Finance today.
The subject matter, “Fairness in Taxation,” always gets credit union attention as there is always worry over threats to the credit union tax exemption. There has not been any substantive discussion of that tax exemption, however, and no credit union, bank or CU or bank trade association witnesses are scheduled to appear. Instead, addressing the committee, which is chaired by Sen. Orrin Hatch (R-UT), will hear from Dr. Lawrence Lindsey of The Lindsey Group; Deroy Murdock of the Atlas Group; Dr. Heather Boushey of the Washington Center for Equitable Growth, and Steven Rattner, chairman of Willett Advisors.
On Wednesday, the House Financial Services Committee will receive its semi-annual report from Richard Cordray, director of the CFPB.