Hauptman: NCUA Must Make It Easier to Form a Credit Union

Hauptman: NCUA Must Make It Easier to Form a Credit Union

NCUA board Vice Chairman Kyle Hauptman believes that the NCUA must make it easier for groups to form new credit unions and should stop encouraging small, struggling credit unions to merge, reports David Baumann of the Washington CU Daily.

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Death and Taxes: A Tale of Bank vs. Credit Union Lobbying

Death and Taxes: A Tale of Bank vs. Credit Union Lobbying

Banks and credit unions have been duking it out in D.C. over the tax exemption status the latter are allowed. David Baumann recaps the lobbying efforts both sides are making to discredit the other.

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Hood: Regulators Need to Develop Joint Cannabis Banking Policy

Hood: Regulators Need to Develop Joint Cannabis Banking Policy

NCUA Board member Rodney Hood called on federal banking regulators to begin developing a joint principles-based approach to marijuana banking, reports David Baumann of the Washington CU Daily.

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IRS: CU, Bank Reporting Rule Would Raise $460 Billion in 10 Years

IRS: CU, Bank Reporting Rule Would Raise $460 Billion in 10 Years

Requiring financial institutions, including credit unions, to report to the Internal Revenue Service the inflows and outflows from customer accounts could raise $460 billion in additional tax revenue over ten years, according to IRS Commissioner Charles Rettig. Reported by David Baumann of the Washington CU Daily.

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NCUA to Accept Streamlined Applications for CDFI Certification

NCUA to Accept Streamlined Applications for CDFI Certification

Low-income, federally insured credit unions that wish to be certified as Community Development Financial Institutions may apply for the NCUA’s streamlined qualification process between Sept. 12 and Oct. 15, agency officials announced.

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CU Trades: NCUA is Too Picky in Anti-Money Laundering Exams

CU Trades: NCUA is Too Picky in Anti-Money Laundering Exams

NCUA examiners are too picky in their Anti-Money Laundering/Bank Secrecy Act enforcement and are citing financial institutions for small technical violations, NAFCU and CUNA have told the agency, reports David Baumann of the Washington CU Daily.

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DOJ Endorses Interchange Rule that Credit Unions Hate

DOJ Endorses Interchange Rule that Credit Unions Hate

The Justice Department this week threw its support behind the Fed’s proposed rule that would require financial institutions to give merchants a choice of debit card networks for online transactions and other purchases when consumers do not physically present their debit cards, reports David Baumann of the Washington Credit Union Daily.

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Biden to Nominate Harper for Full Term on NCUA Board

Biden to Nominate Harper for Full Term on NCUA Board

President Biden has announced his intention to nominate National Credit Union Administration Chairman Todd Harper to serve a full term on the agency board, reports David Baumann of the Washington Credit Union Daily.

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Credit Union Employees and Members Join Together to Celebrate Credit Unions with #ILoveMyCreditUnion

Credit Union Employees and Members Join Together to Celebrate Credit Unions with #ILoveMyCreditUnion

On July 30th, 2021, hundreds of credit unions, leagues, and partners from around the globe came together on social media to show the world what makes credit unions great. Emily Claus shares the inspiration behind the day, the stories that were told, and the success of the event.

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House Panel Approves Bill to Require Regulators to Focus on Charter Simplification

House Panel Approves Bill to Require Regulators to Focus on Charter Simplification

The House Financial Services Committee approved H.R. 4590, which would require federal financial regulators to develop a strategic plan to encourage the chartering of new credit unions and banks, reports David Baumann of the Washington Credit Union Daily.

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