ABA President and CEO Frank Keating yesterday expressed the association’s strong opposition to efforts by the Credit Union National Association to ease further the already-loose field of membership requirements that ensure credit unions remain dedicated to serving people with meaningful common bonds.
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ABA and the Independent Community Bankers of America wrote to the House Appropriations Committee on Friday opposing the use of the congressional spending process as a back door for a credit union-backed provision to further expand their member business lending privileges.
Many credit unions are functionally no different from banks and the time has come for them to pay taxes, Florida Bankers Association President and CEO Alex Sanchez said in a Wall Street Journal op-ed yesterday.
Bill Brooks, a certified financial planner with CU Prosper, wrote in the Credit Union Times questioning whether credit unions are achieving their mission.
Following the NFL’s decision to give up its tax-exempt status, Frank Keating calls on Congress to examine another outrageous tax exemption.
Despite a promising proposal, the National Credit Union Administration today walked back somewhat from its plan to rein in expansive fields of membership for credit unions.
In recognition of Tax Day, the Financial Education and Advocacy Initiative will run ads Wednesday spotlighting credit unions’ outdated tax exemption.