ARLINGTON, Va.—NAFCU is providing additional insights when it comes to reporting the 21% excise tax on excess executive compensation implemented under the Tax Cuts and Jobs Act (TCJA).
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WASHINGTON–The two nominees for positions on the NCUA board told a Senate hearing of their commitment to safety and soundness of credit unions and the insurance fund, while also offering thoughts on what will guide their regulatory philosophies.
NEW YORK—New York Attorney General Letitia James is leading a coalition of 21 State Attorneys General in urging the Consumer Financial Protection Bureau not to adopt recently-proposed policies that would “erode critical consumer protections under the guise of fostering innovation in the consumer financial marketplace,” the New York AG’s office stated.
WASHINGTON—Noting implementation difficulties and the impact on credit unions' capital under the current expected credit loss (CECL) standard, NAFCU is urging the Financial Accounting Standards Board (FASB) to "reconsider its decision to include credit unions within the scope of CECL."
RALEIGH, N.C.–Coastal Credit Union said it has paid out more than $3.3 million in special dividends to eligible members through its Loyalty Bonus program.
SANFORD, Maine–Two Maine credit unions have announced plans to merge to create a CU with more than $700 million in assets.
MADISON, Wis. – The National Credit Union Foundation said it is partnering with Members Development Co. on a collaboration aimed at bringing credit unions additional value and resources on consumer financial health.
ARLINGTON, Va.–The National Association of State Credit Union Supervisors (NASCUS) said it is encouraged by a congressional hearing on serving cannabis-related businesses, adding Congress needs to act to eliminate federal prohibition.
WESTBROOK, Maine–Maine’s credit unions raised $792,200 during 2018 as part of its Campaign for Ending Hunger.
FALLS CHURCH, Va.–Seeking to improve service levels, Healthcare Systems Federal Credit Union said it has turned over management of its 20 ATMs to Dolphin Debit, the full-service ATM management company.