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 yesterday 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They also stressed there is precedent for repealing outdated subsidies for financial firms, which Congress did in the 1940s and 1950s when it ended the exemptions for mutual insurance companies and savings banks.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 have announced today, 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...
Efforts by Sens. Richard Durbin, D-Ill., and Al Franken, D-Minn., to increase scrutiny on banks’ data security efforts in the wake of large...
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.
For more than 30 years, the Maxi Awards have been recognizing excellence in bank marketing and advertising throughout the state. Entries will be accepted directly from an IBA member institution, or from an advertising agency on behalf of a member institution and materials that were initially used during the 2013 calendar year are eligible. (more)
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.