The pandemic is likely to dominate the discussion during CUNA’s online Governmental Affairs Conference, but perennial issues such as the industry’s tax exemption will also be spotlighted.
The bank trade group called for lawmakers to revoke the industry’s tax exemption and suggested that credit union acquisitions of banks create a “brain drain” of local lending expertise that could slow any economic recovery.
As lawmakers look for ways to plug budget gaps, credit union groups are preparing for a possible assault on the industry's tax exemption at the state and federal level.
A coalition of free-market-oriented groups is calling on Senate Finance Committee Chairman Orrin Hatch to rethink his push for a new tax on credit unions.
Readers weigh in on whether or not banks should take a stand on gun control, opine on digital banking outages, reflect on banks building more branches in the internet age and more.
Lawmakers should consider taxing large, banklike credit unions that have strayed from their original fields of membership, argues a credit union executive.
Readers weigh in on a proposal for encouraging small bank installment loans, a firm that uses AI to reduce false alarms, what security improvements are needed for sharing customer data, and more.
The Treasury Department significantly raised an estimate for how much the exemption will cost the government over the next decade, giving bankers some hope that their complaints are finally being heard.
