Tax

The Treasury Department and the Internal Revenue Service issued a proposal that would allow pass-through businesses like Subchapter S banks to deduct 20% of their business income as part of the new tax law President Trump signed last year.

Multiple agencies are looking into its purchase of certain credits tied to low-income housing developments, the bank said in a securities filing Friday.

Depending on the asset class, about 11%-18% of earnings per share came from tax savings. The looming question is how do they top themselves in 2019 when tax rates don’t change like they did this year.

The recent decision involved sales taxes, but Wells Fargo recorded a net expense of $481 million under the assumption that it will also lead to higher state income taxes. Other banks may have to follow suit.

From medical expenses to home improvements, here's a look at some of the most frequently cited reasons homeowners are borrowing against their home equity.

Bankers would be better off cleaning their own houses and focusing on deregulation efforts, instead of going after credit unions, suggests NAFCU's Carrie Hunt.

After making the switch from banks to CUs four years ago, the CFO of American First Credit Union loves the movement – but he has some thoughts on how it can improve.

A coalition of free-market-oriented groups is calling on Senate Finance Committee Chairman Orrin Hatch to rethink his push for a new tax on credit unions.

Banks were helped by better loan spreads thanks to higher net interest margins, but the recently enacted tax cut helped boost profits by 27% from a year earlier.

Credit unions nationwide celebrated a recent victory for the CU tax status in Iowa, but bigger battles in more states could be just over the horizon.

In letters to the six largest U.S. banks, the Ohio Democrat accused the banking sector of moving call center jobs overseas while reaping benefits from the recent tax cut law.

The Pittsburgh bank opted to give more than half of its employees $2,000 pay hikes instead of the bonuses handed out by many rivals.

Iowa lawmakers have reached a compromise on tax reform that preserves credit unions' tax status in the Hawkeye State.

The itemized deduction for investment fees may have been eliminated, but clients still need guidance on paying IRA expenses. Here's what to tell them.

Long considered a political third rail in the U.S., the movement's tax exemption is taking some heat. Here's a sampling of how other countries have handled this debate.

NCUA Chairman Mark McWatters has responded to a controversial letter from U.S. Sen. Orrin Hatch questioning the credit union tax exemption.

The company benefited from increases in residential and construction lending.

Proposal would lower capital requirements for some, raise them for others; Mulvaney says enforcement division will continue to police lending discrimination.

Readers react to a drive for more public banks, weigh in the launch of an online-only bank, chime in on what millennials need and more.

Lawmakers approved a measure to increase the program's funding by nearly $3 billion over four years.