Small businesses reveal cash flow as an overriding concern in a web-based survey from Boston-based Mercator Advisory Group’s regarding payment acceptance, B2B payments and banking services use and alternative lenders. The research, “Business Credit Cards...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
Senate Committee Approves Tax Bill, Preserving CU Tax Exemption
The Senate Finance Committee Thursday approved its version of tax reform legislation, which retains the credit union tax exemption. The bill now goes to the Senate floor, where it faces an uncertain future because it remains unclear if Senate Republicans have the...
OMB’s Mulvaney Likely Interim CFPB Chief; Once Called Agency ‘A Joke’
President Trump is likely to select Office of Management and Budget Director Mick Mulvaney as the interim director of the CFPB—an agency Mulvaney once called a joke. Mulvaney would temporarily replace Richard Cordray, who announced he was leaving the agency by...
This Thanksgiving, Bring Out Your Inner Oprah
Remember how much everyone couldn’t wait for 2016 to be over? I saved a cartoon on my phone the day after Christmas last year that summed it up perfectly. The cartoonist compared the year to a party guest who refuses to leave, illustrating it as a big round ball...
Credit Union Tax Exemption Is Off the Table in House Tax Reform Bill
As the House begins debate on its tax reform bill, members will be prohibited from offering any amendments—including changes to the credit union tax exemption. Voting 235 to 191, the House approved the rule for debate on the bill Wednesday afternoon, with a vote...
Forever 21 Card Breach, Gmail Risks & Malvertising
The fashion retailer Forever 21 confirmed a breach involving unauthorized access to data from payment cards used at an undisclosed number of its stores due malfunctioning encryptions on POS devices. The Los Angeles-based company said the probe focused on transactions...