The House voted Thursday night in favor of the CUNA-backed bill, the Home Mortgage Disclosure Adjustment Act (H.R. 2954), which would raise the reporting threshold for certain Home Mortgage Disclosure Act requirements.
CUNA President/CEO Jim Nussle wrote a letter to members of Iowa Senate urging them to reject legislation that would place an additional tax on credit unions. Senate Study Bill 3197 would raise taxes on Iowa credit union members and reduce taxes on banks and their stockholders, many of whom do not live in the state. As bank attacks have ramped up in the state, CUNA works closely with the Iowa Credit Union League to combat the issue.
The Credit Union National Association (CUNA) and the National Association of Federally-Insured Credit Unions (NAFCU) today in a joint letter to Senate Committee on Finance Chairman Orrin Hatch defended the credit union industry's tax exemption status, stating that recent information propagated by state bank associations criticizing this status is erroneous.
Credit Union National Association witness Kim Sponem, President/CEO of Summit Credit Union in Madison, Wis., delivered the following oral testimony at today’s hearing in the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, titled “Examining the Current Data Security and Breach Notification Regulatory Regime.”
Credit Union National Association President/CEO Jim Nussle highlighted how credit unions continue to fulfill their statutory mission in response to a question from Sen. Orrin Hatch (R-Utah) to NCUA on whether credit unions are evolving beyond their original purpose.