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The Senate voted Tuesday in favor tax reform legislation that leaves the credit union tax status untouched, and the House is expected to re-vote on the measure Wednesday. CUNA unveiled its analysis of the bill Monday.
The common-sense regulatory reforms in the Senate's bipartisan regulatory relief bill would be a boon to local economies while continuing important consumer protections, R. Scott Woods, president/CEO of South Carolina FCU wrote to a local paper.
CUNA released its analysis of what the final tax reform bill means for credit union operations. The House-Senate tax reform conference committee reported its final tax bill, which would cut taxes by roughly $1.5 trillion over ten years and would make significant changes to and simplify U.S. tax laws.
Both the House and Senate will consider the Conference Report for H.R. 1, the Tax Cuts and Jobs Act. In addition, both chambers will consider another continuing resolution to continue government funding past its Dec. 22 deadline. The House bill would authorize government funding until Jan. 19. At the moment, it is unknown what the Senate will produce.
The DOD published CUNA-requested guidance pertaining to the Military Lending Act last week, amends the guidance in three questions presented in August, and clarifying a fourth issue not addressed in the August guidance.
CUNA and other organizations wrote to Acting IRS Commissioner David Kautter Friday with concerns that a recent implementation of the new multifactor authentication process change could adversely impact the residential mortgage industry.
Rep. Tom Emmer (R-Minn.) released a bill Thursday that would delay the expanded data collection and reporting requirements under HMDA. CUNA supports the bill, which would provide regulatory relief for credit unions.
CUNA has announced three keynote speakers at the 2018 CUNA GAC, motivational speaker Gian Paul Gonzalez, ABC News contributor Kristen Soltis Anderson and sales marketing expert Scott Stratten. GAC is scheduled for Feb. 25 to March 1, 2018.