IRS Commissioner Douglas Shulman was asked to comment on the contrast between the IRS’s recent expansion of tax deductions for commercial banks and the agency’s simultaneous attempts to expand the application of the Unrelated Business Income Tax to credit unions, in a letter from CUNA.

A draft spending bill circulating in the U.S. House would continue borrowing authority for the National Credit Union Administration’s (NCUA’s) Central Liquidity Facility (CLF) to its full authority of $41 billion through FY 2009.

A special Monday session on the regulator’s corporate credit union stabilization plan drew a packed crowd at an early bird presentation at the CUNA Governmental Affairs Conference Monday.

Exiting CUNA Chairman Tom Dorety and CUNA President/CEO Dan Mica took the stage during the Annual General Meeting at the Governmental Affairs Conference Monday and provided attendees with a message of unification.

CUNA has elected Kris Mecham, president/CEO of Deseret First FCU in Salt Lake City, as its new chairman.

Another payment processor has been hit with a data breach that is affecting credit unions and banks. It is the third major breach of a card processor since December and comes on the heels of what may be the largest data breach in history.

Consumer advocate and three-time presidential contender Ralph Nader and CUNA senior economist Mike Schenk explain how credit unions have avoided the financial crisis caused by banks in an article in Counterpunch, a political newsletter.

The New Jersey Credit Union League highlighted results from an online survey of its membership on corporates at its Corporate Credit Union Forum Feb. 19.