Community bankers’ message to Congress: Rein in credit unions
Community bankers are visiting members of Congress this week
Hundreds of community bankers arrived in the nation’s capital this week to deliver a familiar message to Congress: rein in those out-of-control credit unions.
The Independent Community Bankers of Americas’ “Capital Summit,” the community bankers’ equivalent of America’s Credit Unions’ “Governmental Affairs Conference,” is being held this week. Just like the “Hike the Hill” efforts by the credit union trade group, bankers are being shuttled to Capitol Hill to meet with lawmakers and their staffs.
As part of the summit, the ICBA outlined its lobbying objectives. Many of the objectives are similar to those favored by credit union trade groups, including stopping regulatory overreach, opposing credit card routing mandates and enacting marijuana banking legislation.
After those issues, the similarities end. The ICBA is focused on eliminating what it believes are the unfair advantages of credit unions.
continue reading »