Industry organizations tell credit unions door is open for seeking refunds after 15-year fight with feds.
Class action status also ordered in case over alleged unauthorized change in credit life disability insurance rates. Insurer pays $116,000 fine.
In January, we learned the Federal Reserve is unlikely to raise interest rates until late 2014. With recent declining net interest margins, regulatory reform eating away at our fee income, the NCUA’s assessments and other earnings pressures on the horizon, improving noninterest income is more important than ever.
Bellco Credit Union doesn't have to pay unrelated business income tax on its income from credit insurance or on royalties from accidental death and dismemberment insurance.
Successfully suing the Internal Revenue Service over the unrelated business income tax and serving as a test case for the credit union movement might be enough political activity to last any financial institution for several years.