WASHINGTON—With credit unions’ tax status possibly under greater threat than ever, the House Ways and Means Committee begins work on tax reform Tuesday with a hearing titled “The Need to Make Permanent the Trump Tax Cuts for Working Families.”
Fresh Today
WASHINGTON—With the first tax reform hearing of the 119th Congress scheduled Tuesday, America’s Credit Unions sent a letter to House Ways and Means Committee leaders reinforcing the many benefits the credit union tax status brings to consumers and communities.
LOGANSPORT, Ind.— Jacob Rozzi was arrested over the weekend after allegedly making two bomb threats toward an office of Beacon Credit Union here, the Pharos-Tribune reported.
WASHINGTON — The Consumer Financial Protection Bureau has proposed a rule that would stop financial companies from “forcing” Americans to choose between participating in the financial system or giving up their rights, including those guaranteed by the Constitution, the CFPB said.
WASHINGTON—As the CFPB continues to issue a spate of rules and take numerous actions, the Bureau, in fact, recently rolled back one proposal, America’s Credit Unions reported.
CORINTH, Texas—DATCU CEO Glen McKenzie will retire from the $1.6-billion organization in June, the credit union announced.
PROCTOR, Minn.—Members of the $71-million Proctor Federal Credit union here have approved a merger with $245-million Centricity, CU based in Hermantown, Minn., Centricity reported on its website.
WASHINGTON—The Consumer Financial Protection Bureau has released a study of buy now, pay later borrowers, finding that more than one-fifth of consumers with a credit record used BNPL loans in 2022, with most of those consumers having subprime or deep subprime credit scores, the Bureau said.
WASHINGTON--The Defense Credit Union Council has sent a letter to leaders of the House Ways and Means Committee, urging their support for the preservation of credit unions’ federal tax-exempt status.
ALEXANDRIA, Va.--As wildfires continue in the Greater Los Angeles area, NCUA said it is monitoring the situation closely and has resources available to help affected credit unions.