Business Need Focus

Webinar: Credit Union Fraud Prevention – A Multi-Layered Approach

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Webinar: Credit Union Fraud Prevention – A Multi-Layered Approach Wednesday, July 15th at 2 p.m. Eastern Register Now! Your credit union may lack the resources to implement all best practices for fraud management in the near term. How can you develop a plan to help address concerns around new threats while maintaining a smooth and [Read More…]

A Better Way to Help Assess DDA Risk

Businessman Balancing Coins On Wooden Seesaw

It is no revelation that the Consumer Financial Protection Bureau (CFPB) wants to ensure that banks and credit unions are appropriately and fairly meeting the needs of consumers. This includes the agency strongly recommending that financial institutions implement an open-all strategy for consumer demand deposit accounts (DDAs) and help provide deposit account options for “credit [Read More…]

Regional Household Wealth Tier Breakdowns

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This month we wanted to take a closer look at estimated household wealth across the U.S.  Specifically, the map below shows the percent of households that fall into each estimated wealth tier within each region. How do regions along the east and west coasts stack up against the rest of the country?  Do regions in [Read More…]

Subprime Auto Bubble? Not Likely Say Experts

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There’s been a lot of chatter lately about a potential bubble forming as a result of subprime lending in the automotive industry. Phil LeBeau, at CNBC, recently interviewed Dennis Carlson, Deputy Chief Economist at Equifax, to get his take on the issue. Carlson and analysts at Equifax looked at data for new and used cars [Read More…]

Four Trends in Wage Audits and Earnings Verifications

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New unemployment insurance (UI) integrity regulations are looking to stem the “pattern of failure” of employers and state agencies to accurately report eligibility requirements. These failures account for $4.15B in improper benefits and overpayments and has helped create 10 states with insolvent unemployment trust funds. A new federal mandate, The Trade Adjustment Assistance Extension Act [Read More…]

Fraud Prevention: Crimes against Revenue on the Rise

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Fraud perpetrated by or on behalf of local public assistance recipients continues to be a recurring sore spot in the ability of local jurisdictions to control growing costs, and improve revenue collections and use. “Crimes against revenue” is a particular phrase used over past years by localities seeking to address this kind of public sector [Read More…]

King v. Burwell: Subsidies Stand

The U.S. Supreme Court has issued a ruling in the King v. Burwell case stating that the Affordable Care Act (ACA) does in fact allow the Internal Revenue Service (IRS) to provide Premium Tax Credits, or subsidies, for health insurance provided under the Federal Marketplace. Although the language of the law states that subsidies are [Read More…]

Illinois Budget Deficit Spurs Incentive Cuts

Illinois Budget Deficit

With a proposed budget deficit of nearly $4 billion for the 2016 fiscal year, the Illinois Governor’s Office has issued a press release which places a hold on certain future incentives for businesses. Effective immediately, the state is suspending all new applications for the Economic Development for a Growing Economy (EDGE) Tax Credit Program, Large [Read More…]

Tennessee Community Resurgence Job Tax Credit

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To help encourage job growth in impoverished areas of the state, Tennessee has recently passed legislation which enacts the Community Resurgence Job Tax Credit. Effective July 1, 2015, this credit provides $2,500 for each new full-time job created in a high-poverty area. The credit is available to businesses of any industry type which create at [Read More…]

ETS Tax Intelligence: SUI Account Consolidations

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Situation All states have unemployment insurance (“SUI”) anti-abuse provisions mandated by the passage of the SUTA Dumping Prevention Act of 2004.  In addition, many states have enacted even more stringent provisions aimed at further preventing manipulation of the joint federal-state unemployment insurance program.  One of these provisions is often referred to generically as an “account [Read More…]