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September 22, 2008
Briefs, September 22 — 26, 2008
- Golden Parachutes
- Regional Disaster Planning
- Housing Protest
May 12, 2008
Banks Head Off CU Legislation
Banks won a victory when they persuaded House members not to vote on a pro-credit union bill.
January 21, 2008
Credit Unions, IRS Clash in Court
The tax collector believes many credit unions should pay taxes on unrelated business.
November 26, 2007
Bank vs. Credit Unions: The War Continues
A three-year old legal case challenging credit union expansion takes a step forward.
September 17, 2007
Frank: Apply CRA to Credit Unions
The House Financial Services Committee chairman tells credit unions they should be subject to the Community Reinvestment Act.
July 16, 2007
Briefs, July 16 — 23, 2007
- Banks In Real Estate — Not!
- International Investments
- Credit Union Conversions
- Choice of Regulators
- Examiners Should be Happy
March 26, 2007
Credit Union Bill Reintroduced
Last year’s bill to liberalize credit union regulation has been reintroduced.
March 19, 2007
IRS Taxes Some Credit Union Income
The tax collectors say some of state credit unions’ income is not related to their main function and so may be taxed.
December 18, 2006
Credit Unions’ Report Card Shows Mixed Results
Credit unions don’t serve low- and moderate-income populations as well as banks do. But field of membership constraints may be part of the reason.
November 27, 2006
Credit Union Survey Cites Membership Restrictions
An NCUA survey says eased membership restrictions would help credit unions serve moderate-income persons.
September 04, 2006
Bankers Attack CU Conversion Rules
The NCUA thinks credit unions should stay credit unions, so the agency’s proposed rules governing conversions to banking charters leave a lot to be desired.
July 24, 2006
ABA Ends Suit against NCUA
July 03, 2006
Credit Union Regulator Speaks to Bankers
May 15, 2006
Hearing Considers CU-Bank Conversions
Few topics are more contentious than credit union-bank conversions. Congressional hearings failed to reach any consensus.
March 06, 2006
Consumer Protection Forum to Meet
Does the administration think banks and credit unions are routinely ripping off consumers? Treasury is about to convene a Consumer Protection Forum to deal with banks’ abuse of their customers, a top official says.
January 23, 2006
NCUA Backs Down on Credit Union Expansion
After losing lawsuits brought by banks, credit unions’ federal regulator has backed down, proposed for comment a less-aggressive version of its former rule on expanding into underserved areas.
December 19, 2005
NCUA Conversion Rules Questioned
The National Credit Union Administration doesn’t make it easy for a credit union to convert to a bank charter. Some in Congress say they set the standards for conversion in law. They’re asking if the NCUA is obeying the law, or making its own rules.
November 21, 2005
NCUA Chairman Replies to ABA Suit
The National Credit Union Administration chairman has replied to bankers’ criticism of her agency.
November 14, 2005
ABA’s Renews Credit Union Battles
The National Credit Union Administration has not mended its ways, so the American Banker Association has sued the agency yet again.
November 07, 2005
House Committee Considers Taxing Credit Unions
The House Ways and Means Committee held hearings on taxing credit unions. The usual players took their usual positions.
September 05, 2005
Should Credit Unions be Taxed?
The Congressional Research Service has researched the question of whether credit unions should be taxed. The agency’s conclusion: It’s a complicated question.
NCUA Folds on CU-to-Bank Conversion
Perhaps recognizing it looked a bit silly, the NCUA has dropped its objection to the way a Texas credit union had folded its disclosure forms. The credit union can go ahead and convert to a mutual savings bank.
July 11, 2005
NAFCU Replies to Reich
In a letter to the Senate Banking Committee, NAFCU disputed the argument by the FDIC vice chair that community banks are suffering because of unfair competition by tax-exempt credit unions.
June 27, 2005
The Credit Union Advantage
FDIC Vice Chairman John Reich supported community bankers in his testimony to the Senate Banking Committee last week. Reich called for more equivalent regulation, as credit unions have become major competition to banks.
May 16, 2005
CUs vs. Banks
Credit union associations recently produced an ad that had the intended goal of rebutting the banking industry’s contention that credit unions compete unfairly with banks.
