PLYMOUTH, Mich. - (09/30/04) -- The Michigan CU League has becomethe first state credit union association to obtain the support ofits entire congressional delegation for the credit union taxexemption. The league has collected the names of the state's twosenators and 14 incumbent House members, as well as the likelywinner for the final House seat in November, expressly supportingthe tax exemption, according to David Adams, president of theleague. "We've been working on this ever sine the (American BankersAssociation) came out with Operation Credit Union," Adams told TheCredit Union Journal, of the banker's latest campaign to tax creditunions. Several other leagues are also in the process of gatheringthe explicit support of their congressional representatives for thetax exemption to help quell the bankers' campaign.
-
Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.
1h ago -
The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
6h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
9h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23 -
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
April 23 -
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
April 23