From Congress Daily(subscription required): BANKING: The House Ways and Means Committee hears testimony Thursday on the tax-exempt status of credit unions, part of an examination of the tax-exempt sector Ways and Means Chairman Thomas launched last year. The credit union tax exemption has been in place for nearly 70 years. The industry argues it should remain tax-exempt because credit unions, which have 87 million members nationwide, are not-for-profit cooperatives generally run by volunteers, and they return their earnings to their members.

From the Chronicle of Philanthropy: Charity leaders are out of touch with the typical American donor's perception of the nonprofit world, according to a new report. Nonprofit officials overestimate donors' interest in public-policy debates -- such as the extent to which government ought to regulate charities - and underestimate donors' distaste for fund-raising techniques they associate with big business, such as telemarketing, the report says.