ICBA to Washington: ‘Wake Up’ to Credit Union Risk

Oct 22, 2019
Wake Up

ICBA launched a nationwide campaign calling on policymakers and the public to “Wake Up” to the risky practices, costly tax subsidies, and irresponsibly lax oversight of the nation’s credit unions.

“ICBA and the nation’s community banks are calling on Washington to stop pressing the snooze button and wake up to the risks of aggressive, growth-obsessed credit unions and the costs of their taxpayer-funded subsidies,” ICBA President and CEO Rebeca Romero Rainey said in a national news release.

ICBA’s “Wake Up” campaign will encourage policymakers to open their eyes to the growing threats posed by credit unions’ abandonment of their founding mission facilitated by their captive federal regulator, the National Credit Union Administration.

The campaign will feature policy proposals, research, grassroots advocacy, and customizable resources to continue the call for policymakers to review the credit union tax subsidy. It follows the formation of the ICBA Credit Union Task Force to take on the trend of large credit unions using their tax subsidy to buy smaller community banks.

Learn More About “Wake Up”