Credit Union Tax Exemption Mistakenly Included in House Bill

Language threatening the federal credit union tax exemption was discovered when the full text of a House bill based on the Simpson-Bowles commission report was released yesterday. Rep. Dennis Ross, the bill’s drafter and a credit union supporter, said the tax status was included due to a drafting error.

Eurozone Writes Off Greece, Focuses on Spain

In an effort to keep Greece from becoming the first major crack in what could become a Eurozone breakup, all attention has shifted to secure Spain’s economy as the looming Greek vote on June 17 casts a shadow on the 12-year-old monetary union.