Removing Barriers Blog

CUNA Raises CU Concerns to Appropriations Committee Prior to Budget Hearings for DOJ, Treasury, and IRS
Posted April 10, 2019 by CUNA Advocacy

Prior to hearings in the House Appropriations Committee, CUNA wrote to Subcommittee leadership raising credit union issues as the subcommittees began hearings on federal agency budget requests from the DOJ, IRS and Treasury for fiscal year 2020.

Department of Justice
CUNA and its members have grown increasingly concerned with frivolous litigation spreading due to a lack of clarity with how the Americans with Disabilities Act (ADA) applies to websites.

Internal Revenue Service
CUNA reiterated several points from its new white paper on the importance of the credit union tax status, and also noted  several concerns with provisions in the Tax Cuts and Jobs Act (TCJA).

The bill imposes an excise tax on certain executive compensation provided by tax-exempt organizations. For-profit compensation agreements in effect on or before Nov. 2, 2017 are not affected by this excise tax, but no such provision exists for the not-for-profit sector.

Department of the Treasury
CUNA strongly supports the Treasury’s Community Development Financial Institutions (CDFI) Fund, which makes grants and other awards to certified CDFIs. As of March 31, credit unions are 289 of the 1,074 certified CDFIs nationwide.

CUNA noted two examples of the grant money bring used to leverage “significant amounts of private and non-federal dollars.”