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Utah League Warns Anew of `Ridiculous Propaganda'

SALT LAKE CITY - The Utah League of Credit Unions warned state lawmakers again last week that "until it stops heeding the ridiculous propaganda" of the banking lobby, the CU charter remains "broken" and will "never be fixed." The warning came in a Op-Ed piece appearing June 28 written by...

By Staff Writer | Updated on July 06, 2004

SALT LAKE CITY – The Utah League of Credit Unions warned state lawmakers again last week that “until it stops heeding the ridiculous propaganda” of the banking lobby, the CU charter remains “broken” and will “never be fixed.” The warning came in a Op-Ed piece appearing June 28 written by the president/CEO of the League, Scott Simpson, in the Standard Examiner newspaper. Responding to a letter-writing campaign unleashed prior to the June 22 gubernatorial primary by backers of Marty Stephens, a leading CU antagonist, Simpson said the League does not now seek “to escalate” the bank-CU fight, but CUs at the same time find it “necessary to respond when attacked.” Simpson reiterated the League’s position that it was neutral in the gubernatorial race maintaining also the bankers’ chief goal remains to be “free of competition” from CUs “of any size.” News headlines, wrote Simpson, “declare record profits and earnings about every quarter of Utah banks but it will never be enough for Utah banks.”

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