THE news

NEW YORK—As tax season arrives, some consumers may find they owe money for a credit card perk. If cardholders have received a bonus from their credit card company for successfully referring friends or family for new cards, they may owe taxes on that bonus.

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.