August 22, 2018
The Tax Cuts and Jobs Act, which became law on December 22, 2017, imposes a substantial new penalty tax on tax-exempt organizations, including federal and state-chartered credit unions, regarding certain types of “excessive” compensation paid to their covered employees. This new penalty tax is effective for the taxable years of the credit union beginning after December 31, 2017 and will likely have a significant impact on the design and administration of the executive compensation programs of many credit unions.
Read More...
August 10, 2018
Enclosed is a link to an article that Eric Luse of our firm wrote for the American Banker explaining why the Federal Reserve Board’s dividend waiver rule is unworkable and unfair to mutual holding companies and public stockholders.
Read More...
August 2, 2018
On July 31, 2018, the Treasury Department issued its report on financial technology (fintech) companies and the OCC announced that it will begin accepting national bank charter applications from fintech companies.
Read More...
July 18, 2018
The SEC recently finalized a rule, effective September 10, 2018, that expands the definition of “smaller reporting company” (“SRC”) to include registrants with (i) a public float of less than $250 million, or (ii) annual revenues of less than $100 million for the previous year and either no public float or a public float of less than $700 million.
Read More...
March 9, 2018
The Department of Labor has issued a new final rule (the “Rule”) that will apply to certain disability claims filed on and after April 2, 2018.
Read More...
