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The Advocate Blog

Ways And Means Working Group Tax Reform Report Delivered

The credit union tax status is one of many issues discussed in the just-released report on tax policy reform created by 11 House Ways and Mean working groups and delivered to the Joint Committee on Taxation.

The 550-plus page report does not contain any policy recommendations, but lists the pluses and... More

CUs Must Be Heard As Tax Talk Intensifies

The Credit Union National Association is vigorously defending the credit union tax exemption as the U.S. Congress continues to consider broad tax code changes.

However, "the days of playing defense are coming to an end--and the time for actively advocating for a continued tax exemption is here,"... More

NCUA Supports CU Capital Bill

The National Credit Union Administration backs a bill that would allow well-capitalized credit unions to match a growing deposit base from a growing membership with capital from sources other than retained earnings--which currently is the only type of capital that counts toward capital ratio.

Under current... More

Eastman CU Urges Rep. Griffith To Support Exam Fairness Bill

Eastman Credit Union recently wrote to Rep. Morgan Griffith (R-9) asking for his support on H.R. 1553, the bill that would institute new criteria and an appeals process in the regulator examination process.

“The current examination practice is costly, unwieldy and onerous to credit unions. This legislation... More

CU Journal: White House To Nominate CU Advocate to Post that Oversees Fannie/Freddie

The White House announced this morning it plans to nominate 11-term Democratic Rep. Melvin Watt, a strong credit union supporter, to head the Federal Housing Finance Agency, which regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks.

If confirmed by the Senate for the FHFA post, Watt,... More

Legislators Flock To URW Opening

When URW Community Federal Credit Union held a grand opening May 1 for its new facility, the well-wishers included lawmakers who represent the legislative districts in URW’s field-of-membership.

Speaking at the event were Rep. Robert Hurt (R-5), who recognized the need of more private capital to boost... More

Cordray Calls for Financial Education in Schools

The Consumer Financial Protection Bureau is recommending that policymakers implement a nationwide financial education program into grade school as well as standardized tests.

Upon issuing a white paper Tuesday, CFPB Director Richard Cordray called the current process "utterly unacceptable"... More

CUNA Says Relief Bill Is Good As First Step

Credit Union National Association President/CEO Bill Cheney Friday commended Rep. Blaine Luetkemeyer (R-Mo.) for introducing legislation that would address several regulatory burdens facing credit unions and community banks.

"This legislation is a good first step toward providing regulatory relief,... More

CUNA: Fin Lit Bill Will Complement CU Efforts

(From CUNA's News Now) Credit unions work hard to improve financial literacy in their communities, and Sen. Kay Hagan's (D-N.C.) new financial education bill will surely aid those efforts, the Credit Union National Association said Thursday.
 
During a financial literacy hearing Wednesday held... More

Cost Of Reg Burden Gets Human Face From CUNA Witness

The overwhelming regulatory burden, and the difficulty of raising capital, have made it more difficult for her credit union to reach out effectively to the Hispanic community in her area, the Credit Union National Association's witness told a hearing today on providing credit unions with regulatory... More

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