The U.S. Senate Finance Committee working group charged with examining the business income tax code released its report Wednesday with recommendations for reforms. It contained no mention of altering credit unions’ tax status in any way.
Under the headline "Credit Unions, Taxes, and Dishonest Bankers," Ryan Ellis wrote in Forbes that banks' attacks on the credit union tax status aren't "about fairness, or tax reform, or even good public policy."
President Barack Obama sent greetings Thursday to those celebrating International Credit Union Day. CUNA worked closely with the White House on the statement, and a number of credit union-friendly legislators also weighed in with the White House.
The NCUA’s revised supervisory approach to interest rate risk is covered in a recent Letter to Credit Unions (16-CU-08). The new standardized approach is designed to increase focus and resources toward higher risk credit unions.
CUNA has several major concerns with a CFPB proposal regarding disclosure of records and information. Specifically, the proposal would make changes to regulations regarding confidential supervisory information, confidential investigative information and the Freedom of Information Act.