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IRS yields to UBIT court decisions

CUNA News Now Headlines 04/10/2014 - Provided as a courtesy and valuable service of the Credit Union National Association

CUNA: IRS UBIT memo clears way for past-tax refunds for CUs

Credit unions have received a much-sought-after interpretation by the Internal Revenue Service that clears nearly all credit union products from being subject to unrelated business income tax. More

NCUA clarifies hearing comments on supplemental capital

The National Credit Union Administration has "very limited statutory authority" to establish supplemental capital that would benefit federally insured, consumer credit unions by enhancing their net worth for prompt corrective action purposes, agency general counsel noted in a follow-up letter to a Tuesday House Financial Services Committee hearing at which he testified. More

Mo. CU members save $87M, says 'Show-Me Scorecard'

Missouri Credit Union Association leaders have been telling state and federal lawmakers a story recently, and while the story comes in different forms, it always ends the same: Credit unions offer myriad advantages to those who manage their finances with them. More

CFPB hits BofA with $727M in fines, repayments

Bank of America, N.A. and FIA Card Services, N.A. have been ordered to repay an estimated $727 million in relief to around 1.4 million consumers for alleged deception in the marketing of credit card add-on products. More

Ala. governor signs CU act improvements

Alabama Gov. Robert Bentley Monday signed into law House Bill 165, an update to the Alabama Credit Union Act. More

Hanscom FCU supports Team Andy in Boston Marathon

For most participants, a marathon is an individual event, a test of an athlete's will against distance and time. For Ray Phillips and Andy Martin, the Boston Marathon represents an inspiring partnership that is no less a test of strength and perseverance. More

Heartbleed bug could threaten website security

As was widely reported in the news media Wednesday, any organization with a website should become educated about a new and stealthy invader--the Heartbleed bug--to determine if it is a threat to their operation. More

Network develops female CU leaders in Kan., Mo.

Established nearly five years ago, the Women's Association of Credit Union Leaders offers both support and networking resources for female credit union leaders in Kansas and Missouri. More

Tighter rules may be on the way for alternative currencies

Money-laundering and know-your-customer controls will need to be applied to virtual currency transactions such as those made through bitcoin, U.S. Attorney General Eric Holder told U.S. House Committee on the Judiciary members this week. More

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