Senate bill would end subsidies for the biggest banks and abandon Basel III for the smaller ones. Credit unions? Not mentioned.
Montana Democrat's departure may or may not affect tax reform, credit union exemption, lobbyists say.
Inspector General says community banks did not sufficiently use bailout money to increase lending to small businesses.
Senate, House plans don't include specifics on which tax loopholes to eliminate.
House again to vote on eliminating annual mailing after measure passed last year but got no Senate vote.
Veteran lobbyist says working groups include two on credit union radar and that credit unions not stated target, so far.
These three articles offer an in-depth look at the beginning of the new year for Congress and credit unions.
According to industry veteran John McKechnie, who was working on Capitol Hill back in 1986, the last time credit union tax exemption was on the Congressional chopping block, a “volatile” environment on Capitol Hill means credit unions should be vigilant when it comes to protecting their tax-exempt status in 2013.
Tax expenditures are receiving a lot of scrutiny as Congress looks for ways to increase revenues and cut the deficit.
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.