The word repeal appears 278 times in the summary of Representative Dave Camp’s ambitious plan to revamp the U.S. tax code. Credit unions and pipelines are among the businesses relieved that the slashing doesn’t apply to them.
The location of the National Credit Union Administration suits its place in the hierarchy of U.S. financial regulators. Unlike its better-known peers, which are all clustered near the Capitol or the White House, the agency is a 20-minute drive from downtown Washington in good traffic.
Standard & Poor’s said President Barack Obama met with Treasury Secretary Timothy Geithner just before Geithner warned the company to expect a response to its downgrade of U.S. debt, an event that justifies its request to see White House communications to help defend fraud claims.
Some rural credit unions set up in eastern China as part of trials designed to improve financial services in the countryside have been unable to pay depositors since the start of 2013, China National Radio reported.
U.K. credit unions, which have total assets of 537 million pounds ($895 million), face new rules from Britain’s financial regulator as the government prepares to let them carry out a wider range of activities.
Coast Capital Savings and Meridian Credit Union lead Canadian credit unions planning to take advantage of regulations allowing them to expand across the country, challenging bigger competitors such as Royal Bank of Canada.