Tax

Company’s first earnings report since the data breach also discloses lots of suits and investigations; Senate bill also calls for one-year delay in corporate tax rate cut to 20%.

The Senate tax proposal released Thursday would cap the mortgage interest deduction for properties worth $1 million, a reversal from the House plan that would have limited the deduction to $500,000.

Here's a look at the 12 housing markets with the largest percentages of mortgages over $500,000 — the new threshold House Republicans have proposed for the mortgage interest deduction in their tax plan.

Bank lobbyists are increasingly worried that the Senate Republicans may go further than the House in taxing large financial institutions as part of their reform push.

CUNA’s Jim Nussle and NCUA Chairman Mark McWatters were among the big speakers at Monday’s opening session.

The financial services industry has largely warmly greeted the GOP’s proposed overhaul of tax policy, yet some provisions have triggered concern and uncertainty. Here is a rundown of the key provisions and how they may impact the industry.

Bankers are generally happy with the House Republican tax plan released last week, but one provision of the proposed overhaul is likely to give them pause: a cutback in the deduction for deposit insurance premiums.

A House Republican tax proposal that infuriated housing groups and sent homebuilder stocks sliding would only have a modest impact on the market for new homes and could end up being a net positive for the industry, according to Keefe, Bruyette & Woods analysts.

The proposed 20% corporate tax rate would benefit banks more than other industries; online lenders made nearly a third of new personal loans in the first half.

CUNA and NAFCU cautioned, however, that the bill is by no means final and could still change.