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The Independent Community Bankers of America and the nation's community banks are 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.
Learn how the tax-exempt status of credit unions affects your state with our state-by-reports and gain key messaging guidance through the Wake Up Messaging Playbook.
March 19, 2021
ICBA-opposed legislation designed to expand credit union lending authority was introduced in the Senate.
Details: The Expanding Access to Lending Options Act of 2021 (S. 762), introduced by Sens. Tim Scott (R-S.C.) and Catherine Cortez Masto (D-Nev.), would authorize the National Credit Union Administration to increase the credit union loan maturity cap from 15 to 20 years.
ICBA Position: ICBA opposes further erosion of credit union restrictions justifying the industry's tax exemption and last month renewed its call for Congress to reexamine the credit union tax subsidy.
Grassroots: Meanwhile, community bankers can continue using ICBA's Be Heard grassroots action center to urge Congress to hold a hearing on the credit union tax exemption.
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Find out how community bankers can more effectively advocate for a level tax and regulatory playing field between tax-exempt credit unions and the community banking industry. Access your playbook today. You must be a member to access this content.
