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NCSL Committee, 18-4, Rejects Banker-Backed Exemption Bid

In an almost eerie case of d?j? vu, CUNA has turned back a banker-backed attempt to write new policy language revoking the credit union tax-exemption into the official position of the National Conference of State Legislatures convened here last week.

By Jim Rubenstein | Updated on August 22, 2006

NASHVILLE, Tenn. — In an almost eerie case of d?j? vu, CUNA has turned back a banker-backed attempt to write new policy language revoking the credit union tax-exemption into the official position of the National Conference of State Legislatures convened here last week.

The 18-4 vote favoring retention of the exemption by the Financial Services Committee was hailed by CUNA and state league representatives as a solid victory in rejecting bids by the American Bankers Association to draw new support in Congress next year for killing the tax-exemption.

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