WASHINGTON - The IRS may soon find itself facing a second credit union plaintiff in a lawsuit over the agency’s interpretation of the Unrelated Business Income Tax (UBIT), according to CUNA Mutual Group’s Larry Blanchard, who heads up the UBIT Task Force.
Blanchard told Credit Union Journal the hope is for another plaintiff to be announced in April or Ma y. That suit is expected to focus on the issue of income from the sale of investments and annuities to members.
The bank was determined, by multiple industry rankings and experts, to be the best mobile banking provider in the U.S.. Bank of America took second place.
Succession planning experts say that the possible next generation of RIA owners need clear communication, tangible career paths and thoughtful compensation plans. But that is often easier said than done.
The move came 12 days after Canada's bank regulator said tokenized deposits are not legally distinct from ordinary deposits.
Bank of America, Capital One and other large banks have teamed up to publish a set of principles for agentic commerce. But the call for a set of standards from banks comes as other fintechs and payment companies are already forging ahead with the technology.
WestStar Bank of El Paso is acquiring Albuquerque's Southwest Capital Bank, bringing it six new branches in New Mexico.
The U.S. economy is expected to keep growing despite nagging inflation, according to the latest consensus report from the American Bankers Association's Economic Advisory Committee.
