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WASHINGTON – The Government Accountability Office is in the early stages of a study on the credit union tax-exemption, but it still may be completed separately from Ways and Means Committee Chairman Bill Thomas’ (R-Calif.) latest request. “We’re still collecting information and analyzing that data,” Yvonne Jones, a director in GAO’s financial markets and community investment division who is heading up the team on the credit union tax study, said. She explained, “There are a large number of questions that we’re already looking at.” Jones said she would not expect a report out until much later in the year. GAO has not determined whether to combine the studies or begin a new one, which she said will look at NCUA’s corporate governance, and staffing is a consideration. Because Jones had just received the request, she was not prepared to discuss what GAO would specifically be looking into at NCUA and the agency needs to determine when staff with the proper expertise would be available. Jones added that she does not know when this second request from Thomas might be fulfilled but she expected to have a report by the end of the year. -

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