Senate committee’s option papers termed a wakeup call by industry trades.
A working group report on tax reform delivered to the the House Ways and Means Committee May 6 was overall good news for credit unions, but it included some recommendations to scrap the tax exemption, too.
Missouri Rep. Blaine Luetkemeyer's bill doesn't mention credit unions but would provide some regulatory relief, trades say.
Senate bill would end subsidies for the biggest banks and abandon Basel III for the smaller ones. Credit unions? Not mentioned.
CUNA signs letter from banks, payment providers praising House bill passage; NAFCU seeks focus on credit union concerns.
On April 10 the House Financial Services Committee has scheduled a hearing to focus on the regulatory burdens facing community financial institutions that will focus on credit unions.
NAFCU, CUNA invited to House Ways and Means working group session on Thursday as part of tax reform initiative.
Credit union trade associations shrugged off a 2014 budget amendment passed by the Senate March 22 that would “establish a deficit-neutral reserve fund to address the disproportionate regulatory burdens on community banks,” according to a release from sponsor Sen. John Boozman (R-Ark.).
CUNA, NAFCU line up credit union CEOs for April 10 session with House Financial Services Committee.
Industry trade associations shrugged off the exclusion. CUNA lobbyist says "those amendments never go anywhere."