December 6th, 20171130The Senate Banking Committee passed regulatory relief bill Tuesday morning that could provide significant lending relief to credit unions, according to the Credit Union National Association.
The Economic Growth, Regulatory Relief and Consumer Protection Act passed the committee with a vote of 16-7 Tuesday following a markup that morning.
"This bipartisan regulatory relief package is an example of what we can achieve when we work together," said Senator Joe Donnelly (D-Indiana) in a Senate press release. "The proposal would provide long-awaited regulatory relief to community banks and credit unions unintentionally burdened by rules...
December 4th, 201726117Credit unions' special tax status appeared to be in the clear as both the Senate and House passed their tax reform bills recently.
>> Related: Senate passes tax bill; stock market reaches record highs <<
The House passed its version of the bill in November. The Senate voted in favor of the Tax Cuts and Jobs Act early Saturday morning. Neither version of the bill proposes ending or changing the tax exempt status enjoyed by federally and state chartered credit unions.
"Both chambers of Congress have now passed tax reform bills without proposing any change to the credit union tax status, true evidence that both sides...
November 29th, 201731107Despite its very public controversies, the Consumer Financial Protection Bureau took an encouraging step toward helping relieve regulations on credit unions Monday.
>>Related: Court: Trump's pick should lead CFPB<<
The Credit Union National Association wrote new acting CFPB leader Mick Mulvaney a letter Monday, detailing some concerns credit unions have had with the agency and asking that he put a freeze on new rules and requirements. Later that day, Mulvaney announced a 30-day freeze on both rule-making and hiring.
"We're very pleased to see the bureau halt rule-making activities for the time being, as we've...
November 29th, 201730118The CUNA Mutal Group Foundation and CUAid are poised to present a meaningful Christmas gift to credit unions and their members suffering from the affects of natural disasters.
"There are still significant needs for the affected disaster areas and holidays can be especially hard for those displaced from their homes or businesses," said CUNA Mutual Group Foundation Leader Beth Cutler in a press release.
With that in mind, CUNA Mutual Group Foundation pledged Tuesday to match every dollar donated to credit union disaster relief fund CUAid – up to $100,000 – through Dec. 31. CUAid is the only disaster relief fund dedicated to...
November 27th, 20170111MONEY recently featured 13 credit unions among its list of best financial institutions in each U.S. state.
The reporters combed through data on the largest 90 brick-and-mortar banks, 50 credit unions and 15 online banks identified by the bank consultancy firm called Novantas, according to the article. Based on factors including fees, interest rates and account requirements, MONEY selected the best financial institution in each state.
“To pick the champions, we required minimum balances that were $1,500 or less, and we assumed that you could put up with online statements to avoid fees,” according to the MONEY article.
MONEY named...
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