Links in “Credit Unions”
- UBIT Refund Guidance
If youâre a state-chartered credit union that had to pay Unrelated Business Income Tax (UBIT) in the past, you may be entitled to a refund of those taxes in light of a change in position by the IRS. The question is how do you go about this. CUNA has asked outside law firm Foley and Gardner to provide a memo for credit unions with general information about the refund claim process. [2/18/15]
- Metsger Says Modernizing FOM Rules Most Important Challenge for NCUA
NCUA Vice Chair Rick Metsger says that the most important issue that NCUA will need to address in the next couple of years is modernizing the rules governing fields of membership. He noted that federal regulations have not kept pace with state regulations in this area, which has widened the disparity between the federal and state charter. [2/18/15]
- Protect Your Financial Institution From Online Payment Fraud
Donât let the hackers win! Here are measures you can take to help protect your credit union from three main threats:Â theft of personal information, online banking malware, and ransomware attacks. [2/18/15]
- Highlights From the White House Cybersecurity Summit and Consumer Protection
Along with data security initiatives, a highlight of the White Houseâs Summit on Cybersecurity and Consumer Protection was a look at a partnership between MasterCard and First Tech Federal Credit Union, which involves a pilot program to allow consumers to authenticate and verify transactions using biometrics, such as facial recognition and voice recognition. [2/17/15]
- CUNA Needs Your Regulatory Burden Stories
The Senate Banking Committee is looking for real examples of how the regulatory burden has adversely affected financial institutions. CUNA is launching a new online tool today to collect the stories submitted by credit unions. The submissions should provide specific examples of how increased regulation has caused a reduction in services to members and/or increased costs to the credit union. [2/17/15]
- Congress to Take Another Look at Supplemental Capital
A bill, the Capital Access for Small Businesses Act, has been reintroduced yesterday in the House. The bill would allow NCUA to permit credit unions to accept other forms of capital, but would not change the cooperative structure of credit unions. [2/17/15]
- How to Prevent a Valentineâs Day Disaster
Itâs less than 24 hours until Valentineâs Day, and you havenât even thought about what to get for that special person in your life? Well then, this article could be a relationship saver. [2/13/15]
- CU Execs Call For CFPB Reorganization
A series of credit union and bank executives told a Congressional committee that the CFPB would be more effective if it was governed by a 5-member commission, similar to the governance structure of the Federal Reserve Board. A board or commission structure would require that an agenda be released before meetings and could allow for a more sensible and balanced approach to regulation. [2/13/15]
- NCUA Encourages Participation in America and Military Saves Week
NCUA is encouraging credit unions and their members to participate in a live Twitter chat on Thursday, February 26th at 11:00 A.M., and share their strategies for encouraging positive savings behavior. The conversation can be followed at @MyCUgov and participants can join in the dialogue by using the #NCUAChat Twitter hashtag. [2/13/15]
- New SBA Tool Links Small Businesses to Lenders
The SBA has developed a new tool called LINC (Leveraging Information and Networks to access Capital) to connect small business owners and entrepreneurs with potential lenders in their geographic area. Business owners will complete a short questionnaire that will be sent to every lender in the business ownerâs county. Once lenders have reviewed the information they will respond within 48 hours. [2/13/15]
