SALT LAKE CITY - (12/02/04) -- The chief sponsor of theunsuccessful 2002 bid to tax state chartered credit unions said hewill push legislation calling on Congress to repeal the exemptionon state taxes for federally chartered credit unions. State Rep.Jeff Alexander, told The Credit Union Journal, he will sponsor aresolution, endorsed Tuesday by the state's Financial InstitutionsTask Force, urging Congress to reform NCUA and to allow states toassess sales and other taxes on all credit unions. Alexander andother advocates of the 2002 tax bill were frustrated when thelargest state credit unions--including giants America First CU andMountain America--escaped their tax initiative by converting to thetax-exempt shield of the federal charter. That move, along with theconversions of at least 10 other state charters here, has angeredmany lawmakers because it deprived the state of millions of dollarsin sales taxes, supervisory fees and other revenues.
-
As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
July 4 -
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3