Cot­ton, Hill speak to credit unions

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U.S. Sen. Tom Cot­ton and U.S. Rep. French Hill spoke last week to mem­bers of the Na­tional As­so­ci­a­tion of Fed­er­ally-In­sured Credit Unions.

The or­ga­ni­za­tion held its 2017 Con­gres­sional Cau­cus, draw­ing credit union of­fi­cials from across the coun­try.

Cot­ton, a Repub­li­can from Dar­danelle, serves on the Se­nate Bank­ing Com­mit­tee. Hill, a Repub­li­can from Lit­tle Rock, serves on the House Fi­nan­cial Ser­vices Com­mit­tee and is for­mer CEO and chair­man of the board of Delta Trust and Bank­ing Corp.

Hill said he spoke about chal­lenges posed by the Dodd-Frank Act, which was passed after the 2008 fi­nan­cial cri­sis. He also touched on ef­forts to over­haul the na­tion’s tax laws.

The White House has an­nounced plans to un­veil new tax leg­is­la­tion later this month.

Credit unions are cur­rently ex­empt from federal cor­po­rate in­come taxes. Main­tain­ing that ex­emp­tion “re­mains our num­ber one leg­isla­tive pri­or­ity,” the as­so­ci­a­tion states on its web­site.

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