News

The Internal Revenue Service has issued a proposal stating investment management and advisory fees paid by trusts and estates should be deductible only when they exceed 2% of the trust's adjusted gross income.

NAFCU has nominated two credit union attorneys to serve on the Federal Reserve Board's Consumer Advisory Council.

NCUA informed a Hawaii law firm that its regulations do not pre-empt the Hawaii Financial Abuse Act that requires federal credit unions to report suspected financial abuse of an elder.

Last Friday's sudden 50bps cut in the discount rate generated lots of prognostication and predictions in the economic community and in the CU sphere. But will the cut unfreeze the credit market and soothe the run to the safety of U.S. Treasuries, which fell yesterday more than they did after...

Last Friday's sudden 50bps cut in the discount rate generated lots of prognostication and predictions in the economic community and in the CU sphere. But will the cut unfreeze the credit market and soothe the run to the safety of U.S. Treasuries, which fell yesterday more than they did after...

In an effort to reassure its customers, Countrywide Financial Corp. ran ads in the <em>Los Angeles Times</em> yesterday saying that the business is safe and deposits are insured by the FDIC.

Fidelity National Information Services faces a lawsuit stemming from a data breach that was alleged to have been caused by a former employee in its Certegy check verification division.

Cognizant of the industry's emerging role in trying to calm member concern over mortgage turmoil, a prominent Virginia CUSO said today it has been sending out letters and e-mails to client CUs in two states and the District of Columbia urging they become &quot;pro-active&quot; on re-fi products as well as...