Alyssa Horwitz

2 months ago | cuinsight.com | Jason Stverak |Greg Mesack |John Pettit |Alyssa Horwitz

Recently, the Independent Community Bankers of America (ICBA) urged Congress to end what it calls an “unwarranted tax subsidy” for credit unions. The demand is as predictable as it is outrageous. While bankers paint credit unions as freeloaders, they conveniently ignore how banks themselves exploit the tax code to avoid paying taxes. Let’s call this attack what it is: a blatant attempt to eliminate competition by punishing the very institutions that put consumers and communities first.