On the eve of the largest credit union industry lobbying event of the year, a Newsmax op-ed columnist on Friday argued against a rule change being considered at the National Credit Union Administration that would allow institutional investments in credit unions.
With the Arkansas legislature considering a bill that would allow state and municipal entities to deposit public funds in credit unions, a pair of op-eds today in the Arkansas Business publication made the case for ending state and federal tax subsidies for credit unions that pursue bank-like activities.
With the Senate holding a confirmation hearing tomorrow for two nominees to the three-member National Credit Union Administration board, Iowa Bankers Association President and CEO John Sorensen yesterday said it was a fitting moment to recognize that the agency is “out of touch and needs a new direction.”
ABA today pushed back on the National Credit Union Administration’s decision to allow the country’s third-largest credit union to acquire a rare nationwide charter.
A recent proposal by the National Credit Union Administration to raise the threshold at which credit unions must obtain appraisals for commercial real estate transactions from $250,000 to $1 million would create an unlevel playing field between banks and credit unions, ABA said in a comment letter to the NCUA today.
With less than a week before comments are due on the OCC’s August advance notice of proposed rulemaking on the Community Reinvestment Act, ABA VP Krista Shonk follows up an earlier podcast interview with tips on how to complete a comment letter and key points ABA will be making in its own letter.
On the latest episode of the ABA Banking Journal Podcast, Scott discusses how she teamed up with investors in her community to keep Union State Bank independent and provides advice for community bankers seeking to follow the same path.
As lawmakers contemplate further changes to the U.S. tax code, Florida Bankers Association President and CEO Alex Sanchez in a CNBC op-ed today made the case for closing the outdated loophole that allows large credit unions to avoid paying federal taxes, even though they effectively operate in the same manner as taxpaying banks.
Congress should act to eliminate the “outdated and abusive tax loophole” for large credit unions, wrote Florida Bankers Association President and CEO Alex Sanchez in a Wall Street Journal op-ed yesterday.