Credit unions make friends-but not with bankers

From: Regional Economist | Date: October 1, 2003| Author: | Copyright information

Despite the rather low profile and mundane operations of the vast majority of credit unions, these institutions have long been a source of controversy in the United States, primarily in the banking community. For decades, bankers have objected to the tax breaks and sponsor subsidies enjoyed by credit unions and not available to banks. Because such challenges haven't slowed down the growth of credit unions, banks continue to look for other reasons to allege unfair competition.

Public awareness of the long-simmering credit-union debate was piqued about five years ago by a Supreme Court case ...

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