Tax-exempt credit unions—which have seen significant growth in the years since the financial crisis—are increasingly “using their newfound financial heft to compete aggressively for business” against taxpaying banks, according to a Wall Street Journal article published today.
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For the first time in the history of the American Customer Satisfaction Index survey, customer satisfaction with banks exceeded satisfaction with credit unions, according to ASCI.
ABA Chair Laurie Stewart brings unique experiences to her role as a bank CEO and advocate, and sharing them can help make a difference for the industry.
As part of the National Credit Union Administration’s 2020-21 budgeting process, NCUA Board Member Todd Harper is requesting public comment to his proposal to create a dedicated consumer compliance examination program for larger and more complex credit unions.
In her first remarks as chairman of ABA today, Laurie Stewart pledged to be a persistent advocate for diversity and inclusion in financial services, as well as for a level playing field between banks and credit unions.
Meet Puget Sound banker Laurie Stewart, who is chairing ABA in 2019-20.
A majority of Americans across all political parties said they would support ending federal and state tax exemptions for large credit unions, according to a Harris Poll survey commissioned by the Florida Bankers Association.
The credit union industry has strayed from its original tax-exempt purpose and its tax exemption can no longer be justified, according to an economist at the nonpartisan Tax Foundation, a respected research group in Washington, D.C.
Banks and credit unions should receive the same treatment when operating on military bases, American Bankers Association President and CEO Rob Nichols wrote in an joint op-ed with the heads of the Associations of Military Banks of America and the Independent Community Bankers of America.
ABA today filed a petition for the full D.C. Circuit Court of Appeals to review its decision in the association’s challenge of the National Credit Union Administration’s 2016 field of membership rule.