Executives from Southern California credit unions voiced their approval of a bill introduced Friday by Rep. Gary Miller that would establish a risk-based capital system.
The bill would give the NCUA the ability to adjust capital requirements when necessary.
Two bank lobby groups strongly advocated last week for its elimination and Congress begins writing tax reform legislation.
Senate committee’s option papers termed a wakeup call by industry trades.
Tuesday night action repeats lame duck session passage in House. Next up is Senate, which didn't act on measure last session.
House again to vote on eliminating annual mailing after measure passed last year but got no Senate vote.
“If I have anything to do with it, there will not be taxation on our credit unions,” the House Financial Services chairman said.
The NWCUA has sounded the alarm about three bills that aim to tax many credit unions and implement new regulations.
The Vermont showdown over whether a Montpelier credit union can keep on using “bank” and “banking” in its advertising appears headed a for a lengthy legal slog and perhaps compromise following the start of hearings last week by the state regulatory agency.
Vermont’s regulator, now at the center of a bank-credit union scrap over the use of “bank” and “banking” in credit union advertising, last week set Aug. 22 as the date for a preliminary conference hearing on a proposed cease and desist order against the $600 million Vermont State Employees Credit...