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SALT LAKE CITY - No surprise, federal charter conversion proved to be topic No. 1 at the annual meeting of the Utah League of Credit Unions here. Even the state's new first district GOP Congressman, Rob Porter, opened a featured luncheon address with, "welcome to the federal charter," a remark...

WEST PALM BEACH, Fla. - The list of states where bankers have introduced legislation to tax credit unions is growing. So far, measures have been introduced in six states - a bill was defeated in New Mexico, and another was amended and passed n Utah to form a task force...

SYRACUSE, N.Y.-In a somewhat cannibalistic move that is becoming more common, a federal credit union merged with a former credit union last month. The $8.4 million Salt City Hospitals Federal Credit Union of Syracuse, N.Y. has merged with Beacon Federal, a former credit union mainly serving Carrier air conditioning employees,...

WASHINGTON-The House last week passed the bankruptcy reform bill by an overwhelming vote of 315-113, with one Democrat voting present. Though the House moved the bill quickly, the Senate is expected to take its time. The House approved an amendment to H.R. 975, the Bankruptcy Abuse Prevention and Consumer Protection...

ST. PAUL, Minn. - Deluxe Corp., one the country's largest check printers, recently said that higher jobless claims and lower consumer confidence have resulted in fewer checks being written and check-reorder cycles being extended, resulting in less checks for it to print. Deluxe prints checks for more than 10,000 credit...

WASHINGTON-Put away your Monopolyr money, because it is not working any more. Counterfeiting of U.S. currency has dropped markedly around the world since the introduction of the 1996-series currency, which included changing the designs and other technological updates. A joint report, issued by the Federal Reserve Board and the Treasury...

WASHINGTON - The IRS' Unrelated Business Income Tax for non-profits is nothing new to credit unions, but a recent flurry of credit union audits for UBIT has raised concern in a handful of states, notably Connecticut, Alabama, and Colorado. According to the IRS Code, UBIT is income that is unrelated...

ALEXANDRIA, Va.-Federal credit unions' lending and incidental powers authorities permit federal credit unions to facilitate certain functions of a city loan program. NCUA Associate General Counsel Sheila Albin wrote in a recent legal opinion letter that federal credit unions may aid a city government loan program by reviewing members' applications,...