Tuesday, August 16, 2016

Bipartisan Agreement to Examine CU Taxation and Regulation

During a Candidate Forum in Iowa, the Quad City Times reported that candidates for federal office indicated a willingness to examine how credit unions are taxed and regulated.

The willingness to examine the regulation and taxation of credit unions was bipartisan.

Kim Weaver, a Democrat running for Congress in western Iowa’s 4th District, stated: "I would definitely support reviewing the regulations and seeing if they actually fit today, They are, in some parts, unfair to community banks."

Chris Peters, a Republican running for Congress in eastern Iowa’s 2nd District, said: "If they do the same things (as banks), they should be taxed at the same rate. If they’re straying outside their original charter, I think they should be taxed the same (as banks)."

The forum was hosted by the Community Bankers of Iowa at Prairie Meadows Convention Center on Thursday, August 11. Other issues explored during the candidate forum were the regulatory burden from Dodd-Frank Act and the Farm Credit System -- a retail government sponsored enterprise.

Read the story.

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