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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.
April 05, 2021
ICBA is encouraging community bankers to call on Congress to hold hearings on credit union acquisitions of taxpaying community banks.
Taking Action: ICBA’s Be Heard grassroots action center makes it easy for community bankers to contact their members of Congress.
New Acquisition: ICBA last week renewed its call for policymakers to investigate credit union acquisitions of community banks following the purchase of a $1.6 billion community bank in Jonesboro, Ga., by a Florida credit union with more than $10 billion in assets.
ICBA Advocacy: ICBA continued its call for Congress to hold hearings on this trend and to request a GAO study on the evolution of the credit union industry and National Credit Union Administration supervision.
Next: Community bankers can continue the campaign against the credit union tax exemption at this month’s ICBA Capital Summit, which is set to livestream April 27 with remarks from top policymakers and virtual meetings with congressional offices.
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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.
