CHICAGO— As the U.S. Department of Education begins resuming collections activities among defaulted borrowers, new research reveals the number of consumers at risk for default has soared past pre-pandemic levels.
THE feature
WASHINGTON—While the outcome of the credit union tax fight remains uncertain, it won’t be long before the odds of preserving the tax exemption come into sharper focus, according to one Washington expert.
WASHINGTON—To defend the credit union tax exemption, Anthony Hernandez says the movement must launch a coordinated campaign reminiscent of the H.R. 1151 effort, when credit unions and industry partners united to push Congress to pass the Credit Union Membership Access Act.
WASHINGTON--Credit union industry veteran Larry Blanchard is warning of a potentially uncertain future for the movement, amid swirling speculation over the sudden removal of two NCUA board members and increased attention from lawmakers on the industry's long-standing tax exemption.
OLYMPIA, Wash.—Calling it a “fatal mistake,” the pioneer of CU purchases of banks says the decision by the Washington State legislature to tax state-chartered credit unions that buy banks has weakened the state charter here and will lead to “ripple effects.”
WASHINGTON—Democratic lawmakers Elizabeth Warren and Maxine Waters are urging NCUA’s inspector general to investigate the dismissal of two Democratic board members and to assess whether the agency can function effectively without a complete board.
ALEXANDRIA, Va.—With just one active member on the NCUA board, the question looming over Alexandria is not whether Chairman Kyle Hauptman can act alone—it’s whether he will.
WASHINGTON—Stating its primary strategy has been to keep credit unions out of the tax bill, America’s Credit Unions said it has contingency plans ready should it need to shift its focus to getting CUs “out of the tax bill."
MILWAUKEE—Uncertainty about the economy, rates and more driven by the Trump Administration make it the right time for credit unions to step up their financial counseling efforts, says one economist, who stresses organic growth in key areas like auto lending and mortgages in ’25 will be critical.
WASHINGTON—More credit unions are considering converting to a mutual bank as the result of the increased threat to the movement’s tax status, according to Luse Gorman.