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."
The second phase of Same Day ACH rollout has a Sept. 15 effective date, and a list of recommended action items to be performed has been released. All financial institutions must be prepared to receive by Sept. 15.
CUNA President/CEO Jim Nussle called for action as CUNA’s bipartisan, pro-consumer Campaign for Common-Sense Regulation has successfully pushed financial reform to the “head of a crowded field of issues" with the release of Rep. Jeb Hensarling's financial bill.