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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.
Community bankers have for years warned of the expansion of credit union powers, but Navy Federal Credit Union’s new “Community Bank” brand indicates credit unions recognize they’ve gone too far, ICBA President and CEO Rebeca Romero Rainey writes in a new LinkedIn post.
A new Politico column draws attention to the lack of regulatory transparency at tax-exempt credit unions, particularly their exemption from federal reporting requirements on overdraft fees.
Credit union acquisitions of community banks support the case for including credit unions and other nonbanks in regulatory policies on proposed bank mergers, Federal Reserve Governor Michelle Bowman said.
These state-by-state reports show how credit unions have exceeded their original mandate and how that unchecked growth has negatively affected local communities across every state.
Find your state
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.