InfoSight Spotlight: IRS Form 1098

Credit unions (i.e., “interest recipients”/lenders) who receive mortgage interest payments of $600 or more during a calendar year, must report those interest payments to both the member (i.e., payer of record making those payments) and to the IRS on “Form 1098, Mortgage Interest Statement.” In 1994, the IRS issued a final regulation on reporting prepaid […]

Alabama and Florida legislative sessions begin

Alabama and Florida lawmakers will each gather tomorrow to kick off their state’s 2018 Legislative Session. Since 2018 is an election year, there is motivation for both states to take care of critical business, such as passing a budget, and avoid needless controversies. Alabama legislators plan to get in, get out as quickly as they […]

President’s Point

Over the years, updates to federal laws have protected credit unions from frivolous lawsuits on issues like a missing ATM placard or changes to your privacy notices. Now, the latest issue to make its way to the lawsuit arena is website compliance under the Americans with Disabilities Act (ADA). Recently, credit unions in Alabama and […]

Executive Dialogue moves to March 2018

The seventh Annual Executive Dialogue is moving to March 14 -15, 2018 at the historic AAA Five-Diamond rated Ponte Vedra Inn & Club in Ponte Vedra, FL. This meeting is exclusively for large-asset-size credit union CEOs to exchange ideas with and ask questions of their peers. The conference will provide opportunities for engaging conversations on major topics […]

CUNA continues fight for CUs in wake of frivolous ADA web compliance lawsuits

As credit unions continue to receive demand letters threatening class action litigation concerning website accessibility requirements under the Americans with Disabilities Act, CUNA remains engaged with Congress and the Department of Justice (DoJ) to seek relief on this issue. CUNA and CUNA Mutual Group have been working closely to update credit unions on information regarding […]

Mork named chief of staff at CFPB

Committee Chairman Jeb Hensarling (R-TX) announced Kirsten Sutton Mork will become chief of staff at the Consumer Financial Protection Bureau in the coming weeks. Mark is staff director at House Financial Services Committee and spent four years as the House panel’s deputy staff director and had been Hensarling’s legislative director and financial services policy adviser. […]