Increased financial institution reporting to the IRS is bad for consumers, Mountain West Credit Union Association President/CEO Scott Earl wrote in AZCentral in response proposed language to require the additional reporting.
CUNA President/CEO Jim Nussle spoke with NCUA Vice Chairman Kyle Hauptman Monday on credit union pandemic-related issues and how NCUA can work to support credit unions through the pandemic and economic recovery.
Federally insured credit unions can get valuable information on Bank Secrecy Act and anti-money laundering compliance during a National Credit Union Administration webinar scheduled for April 14. Registration is now open, and it is scheduled to begin at 2 p.m. (ET).
CUNA supports legislation from Rep. Barry Loudermilk (R-Ga.) that would increase the Currency Transaction Report threshold to $30,000 and increase the dollar amount thresholds for filing Suspicious Activity Reports from to $10,000 for most financial institutions..
Both chambers of Congress are in session this week, and both are expected to consider the $1.9 trillion COVID relief legislation through the budget reconciliation process. The House Budget Committee will mark up its legislation starting Monday.
Federal policymakers unveiled an omnibus spending bill Monday that would fund the federal government through Sept. 30, 2021 and includes several CUNA-sought provisions related to pandemic relief. Congress passed the measure Monday evening.
CUNA wrote to Congressional leadership Tuesday in support of increased funding for the Cooperative Development Program, and specifically for community-based credit unions in developing countries, specifically at $20 million as in Senate Appropriations Committee legislation.
Credit Union Rock Stars are outstanding credit union professionals and directors from a wide range of disciplines who inspire and innovate to advance the missions of their credit unions. The 25 members of the 11th class of Rock Stars were selected for their exceptional creativity, innovation, and passion.