August 31, 2023

New on the Compliance Blog: Combined statements, taxes

Compliance BlogAs credit unions work to meet the needs of more than 137 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday and Wednesday.

Here's a roundup of what's new this week:

Combined Statements: Regulatory Compliance Counsel JaMonika Williams discusses when credit unions can combine closed-end and open-end periodic statements, as credit unions look to reduce paper usage.

The Taxman ComethDirector of Regulatory Compliance Nick St. John dives into messages some credit unions have received from the Internal Revenue Service regarding their tax liability. The messages note their tax liability may be higher this year due to miscommunication over tax credits from the pandemic.

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