Op-ed: Credit union acquisitions erode tax base

A new op-ed from Independent Community Bankers of Minnesota President and CEO Jim Amundson says state and federal policymakers should put a stop to credit union acquisitions of community banks.

On LinkedIn, Amundson wrote that the wave of credit union acquisitions of community banks promises a negative impact on taxpayers and adds to the enormous cost of the industry’s tax subsidy.

As part of its "Wake Up" initiative, ICBA is calling on community bankers to use its Be Heard grassroots action center to urge Congress to hold hearings on the surge in credit unions purchasing community banks