THE news

WASHINGTON—CUNA and the World Council of Credit Unions have written a joint letter supporting the Internal Revenue Service’s proposed rule reducing regulatory burdens related to the Foreign Account Tax Compliance Act (FATCA).

ITTA BENA, Miss.–In remarks at an event sponsored by an affiliate of a local credit union, Federal Reserve Chairman Jerome Powell said the U.S. economy looks strong, but it is also seeking ways to fight poverty in those “pockets” where it exists, such as the rural communities in Mississippi.

NEW YORK–Inclusiv, which was formerly known as the National Federation of Community Development Credit Unions, and the African-American Credit Union Coalition (AACUC) have joined forces to celebrate African American credit unions in a social media campaign that illustrates the impact of credit unions on their members and communities. February is Black History month.

NEW YORK–Many auto dealers have started 2018 with heavy inventories of unsold vehicles on their lots, with analysts suggesting the situation could put pressure on manufacturers to cut factory output as U.S. auto sales cool, according to a new report.