Some state-chartered credit unions have been told by the Internal Revenue Service that they are no longer tax exempt because the IRS hadn’t received their 990 forms.
Agency says not filing forms threatens tax-exempt status for some state-chartered CUs.
SAN ANTONIO — The NCUA and other regulators are over regulating to prevent another financial crisis, and CUNA is trying to push back to give credit unions more autonomy. That was the message of CUNA's top executives during a panel discussion at America's Credit Union Conference.
Regulators are overregulating, according to top CUNA executives at its annual conference, who say they're trying to strike a balance.
CUNA, NAFCU and NASCUS rewarded their leaders’ stewardship through challenging times last year.
The Wall Street Journal dropped the bombshell: “Banks Hit for Credit Union Ills,” read the headline on an article reporting that the NCUA was in talks with a bevy of Wall Street powerhouses (Goldman Sachs, Merrill Lynch, Citigroup and JPMorgan Chase) about the NCUA’s belief that Wall Street banks sold...
The NCUA has threatened to sue four investment banks if they don’t refund $50 billion from the sale of mortgage-backed securities to five corporate credit unions that the agency conserved last year, according to several sources within the credit union industry.
So the NCUA or Federal Reserve has issued a proposed rule that you detest. What to do? Hold your fire and be rational.
Fannie Mae and Freddie Mac should eventually be abolished and the government should cut back its role in the housing market while financial institutions should hold more capital.
ALEXANDRIA, Va. -- Large credit unions would have to file an annual report on incentive-based compensation programs and couldn't have any such programs that encourage exposure to inappropriate risks