According to an annual report by the congressional Joint Committee on Taxation, the subsidy to the credit union industry will cost taxpayers $14.4 billion over the five years from 2016 to 2020. The value of the tax exemption is expected to climb by nearly 25 percent over this period, growing from $2.6 billion per year in 2016 to $3.2 billion in 2020 — thus indicating that the exemption will continue to balloon in following years.
ABA questions OCC approval of trust charters for crypto companies
ABA President and CEO Rob Nichols said the OCC's approvals raise important questions about the scope and oversight of the institutions.










