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WASHINGTON - In the last counterattack from CUNA, Associate General Counsel Mary Dunn has asked the Internal Revenue Service to look into why banks were permitted to organize as Subchapter S Corporations and what they are doing for the public with the preferential tax treatment. Despite the fact the bankers...

Driven by the need to meet the requirements of the Patriot Act and the Sarbanes-Oxley Act, the nation's financial institutions spent $2.6 billion on information technology to facilitate compliance, and another $6 billion on operational needs, according to Financial Insights. The research and advisory firm says it expects that trend...

HARRISBURG, Pa. - Credit unions in Pennsylvania interested in accessing information on the latest economic and market trends and learning how Pennsylvania credit unions stack up against national credit union behavior are now able to get their hands on the latest data through a new member publication, Pennsylvania Profile, put...

Like a school boy standing up to a playground bully, CSCU wanted the attendees and the entire credit union industry to understand that credit unions can make money with their credit card portfolios and that these portfolios are and should remain an integral credit union product. That sub-theme bubbled just...

SPRINGFIELD, Ill. - If Gov. Rod Blagojevich has his way with attempting to close the nearly $5 billion state budget deficit, credit union start-ups could see the application fee jump from $250 to $3,000. Blagojevich has proposed adjusting 200 fees to raise $57 million for the state's general revenue fund,...

MONETT, Mo. - Jack Henry & Associates, parent company of credit union data processor Symitar Systems, has promoted President Jack Prim to CEO and COO Tony Wormington to President. Michael Henry, the firm's chairman and CEO, will continue on as chairman. "Jack and Tony have both been performing the responsibilities...

WICHITA, Kan. -Another U.S. senator, Sam Brownback of Kansas, has come out against taxing credit unions. In a featured weekend address to the annual meeting of the Kansas Credit Union Association, the Kansas Republican said, "credit unions are about people and character. I would not favor taxing you." And in...

NEEDHAM, Mass. - Outsourcing and offshoring may be getting all the headlines, but America's financial institutions are still spending big on their own call centers, according to a new report U.S. banks will spend about $1.9 billion on contact center technology in 2004, and about $5.2 billion on the people...