As credit unions hunker down in defense of their federal tax exemption, the industry does have one thing in its favor. There are no known enemies among leadership on the House Ways and Means or Senate Finance Committees.
Florida congressman makes good on promise not to include tax exemption in debt reduction bill.
These powerful leaders oversee financial institutions and the NCUA, originate tax reform and wield considerable influence.
Trade group hits the Hill as Congress begins new session.
The law, which was passed in 2007, was extended one year and now expires Jan. 1, 2014.
After seeing little to no progress on credit union legislation during the first 11 months of 2012, two regulatory relief bills advanced within 24 hours of each other, with one passing both chambers and awaiting President Obama’s signature.
Congress is scheduled to call it a year on Friday but fiscal cliff negotiations might change that. Privacy notice bill scheduled for House vote today.
Industry economists agree that if the U.S. plunges off the fiscal cliff Dec. 31, credit unions probably won’t see any ill effects right away. However, even if a so-called grand bargain is reached between Democrats and Republicans, credit unions could see the loan growth momentum gained this year grind to...
Bill aimed at ending aiming lawsuits over ATM placard disclosures gets final approval in Congress.
Lending, liquidity and tax exemption are three areas where the search for the Grand Bargain could impact credit unions.