ICBA push for credit union hearings makes news

Feb 03, 2020

ICBA's call for Congress to hold hearings on the surge in tax-exempt credit unions purchasing tax-paying community banks is generating headlines.

American Banker, Credit Union Journal, Credit Union Times, and CU Today covered ICBA's letter urging relevant committees to investigate how these acquisitions are reshaping the financial services landscape.

ICBA encouraged the committees to consider legislative solutions, such as taxing the largest and most growth-oriented credit unions and expanding regulatory scrutiny of these transactions. The requests are part of ICBA's ongoing initiative to "Wake Up" policymakers and the public to the growing threats posed by tax-exempt credit unions.