House reconciliation bill impact – new blog and resources provide insights

Several provisions in H.R. 1, the One Big Beautiful Bill Act, could potentially impact credit unions. A new Compliance Blog post outlines which provisions may affect credit union compliance obligations.  

Two additional member-only resources provide a deep-dive into specific provisions with potential impact on credit unions included in the House-passed bill, including:

• Excise tax on remittance transfers; and
• Excise tax on executive compensation

In addition to the two provisions outlined above, the following provisions are addressed in the blog: 

• Excise tax on parking and transportation benefits; 
• Long term savings or “Trump accounts;” 
• “No Tax on Overtime;” and 
• Regulatory modernization and efficiency. 

Read the full blog post here. Send your compliance questions regarding this bill—or general compliance questions—to the Compliance Team at compliance@americascreditunions.org.