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IRS Issues Final FATCA Regulation


The Internal Revenue Service (IRS) issued a final rule that implements information reporting and withholding tax provisions under the Foreign Account Tax Compliance Act (FATCA).  The rule describes the step-by-step process for U.S.

Posted By Sharon Bahr read more

WOCCU Participates on Financial Stability Board Legal Identifier Project


Since August, the World Council of Credit Unions (WOCCU) has been deeply involved in consultations regarding the Financial Stability Board’s (FSB) Legal Entity Identifier (LEI) project as a member of the FSB’s Private Sector Participation Group.  The LEI system will come into existence likely in March 2013 and will assign a unique number to every financial institution, including credit unions, and all other parties to "financial transactions" in

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