Though the Federal Reserve does not anticipate lifting interest rates for years, regulators and executives continue to be...
Time to End CU Tax Exemption
The American Bankers Association and Independent Community Bankers of America issued a joint letter on March 10 to House Ways and Means Committee Chairman Dave Camp, urging Congress to end the corporate tax exemption for credit unions. They emphasized that tax reform is intended to make the tax code fairer.
The trade groups noted that credit unions today comprise a $1 trillion industry with a tax exemption worth $12.8 billion over the next five years. They added that only 12 percent of the exemption is being passed through to consumers, and that eliminating it does not have to impact the pricing of credit union products.
They also stressed there is precedent for repealing outdated subsidies for financial firms, which Congress did in the 1940s and 1950s when it ended the exemptions for mutual insurance companies and savings banks.
Senate Banking Leaders Reach Fannie/Freddie Agreement
Senate Banking Committee Chairman Tim Johnson and top Republican Mike Crapo announced on March 11 that they have reached a bipartisan agreement on what to do with government-owned Fannie Mae and Freddie Mac and how to overhaul the housing finance market.
Draft text of the legislation is due in the next few days with a mark-up from the committee expected in the coming weeks, according to the announcement. The plan, which Johnson said had near unanimous backing on the panel, includes measures provided from several members of the committee.
As of March 7, 2014: The House and the Senate deadlines for a third reading have been reached this week. If a bill is still alive, it would have...
The FDIC, OCC and Federal Reserve Wednesday finalized guidance on the stress tests for medium-sized banks that are mandated by the Dodd-Frank...
Education / Events
Expanding Youth Savings Programs
The Federal Deposit Insurance Corp. is hosting a dialog on successful strategies for implementing results-oriented youth savings campaigns at a meeting the morning of Feb. 19 in Indianapolis. Read more/register by Feb. 14.
This year’s Mega is sparked by the theme, “Experience the Energy.” Energy radiates everywhere, from the energy within us to the energy that ignites our industry. The Mega Conference will revitalize you and others at your institution. We hope you will join us for the 2014 Mega Conference, April 28-30, at the Indiana Convention Center. We have a magnetic lineup of speakers and high-energy sessions that are designed to renew your energy and leave you recharged and rejuvenated!
April 28-30, 2014. Register Today!
Graduate School of Banking (GSB) Scholarship • August 2014 - University of Wisconsin, Madison
IBA Members Only - Two Scholarships Awarded
Scholarship Amount - $3,900 per recipient ($1,300 per year, applicable to first-year students only)
Since 1945 the Graduate School of Banking at the University of Wisconsin (GSB) has helped develop banking leaders through a program of advanced management education. Today GSB is widely recognized as the nation's leading and most progressive banking school. It counts nearly 20,000 bankers, bank regulatory officials and industry consultants as alumni. These alumni occupy positions of leadership in banks of all sizes, the industry and their communities. Read more and apply for scholarship online.