WASHINGTON - (09/15/04) -- NCUA said representatives from theInternal Revenue Service will participate in the agency's AccessAcross America workshop Sept. 30 at the IRS office in San Jose,Calif., to teach credit unions about the availability of IRSprograms. A partnership between the two agencies was formed toteach credit unions about the VITA Program, offering free taxpreparation for low income people; the Earned Income Tax Credit ,and how to become an Electronic Return Originator, providingelectronic tax filing services. During the workshop, applicationswill be processed on-site for participation in the IRS's IndividualTaxpayer Identification Numbers Acceptance Agent program or to bean e-file provider. A second IRS-NCUA workshop is planned forNovember.
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As the CFPB reconsiders its open banking rule, banks and fintechs are locked in a bitter battle over who will pay for the new digital infrastructure.
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Hope Bancorp's acquisition of a business that serves Japanese companies should complement its historic focus on Korean business owners.
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The Department of Justice is seeking court approval to immediately fire more than 600 employees, slashing the CFPB's workforce by 53%.
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Australia's national Payments Systems Board has decided to remove surcharges on prepaid, debit and credit cards for electronic funds transfers, while lowering the cap on interchange fees. Also, Wells Fargo is seeking banks for its international payment network, and more in American Banker's global payments and fintech roundup.
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The exit highlights the steep challenges and high customer acquisition costs foreign fintechs face when entering the U.S. banking sector.
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Federal Reserve Gov. Michael Barr said Wednesday that his dissents over the past year on proposed regulatory changes reflect concern that oversight of banks could be significantly weakened.
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