PEEWAUKEE, Wis.–Embroiled in a legislative spat with bankers over a bill to introduce Community Reinvestment Act rules for CUs into the state, the Wisconsin Credit Union League Tuesday called banker tactics an attempt to put CUs out of business and “take them over.”

The latest volley from the league attacking what it called the banking lobby's “bait and switch” strategy to zero in on large CUs and their low-income offerings followed an earlier exchange of press releases marked by one Monday from the Wisconsin Bankers Association claiming lawmakers now have “proof” CUs are failing the underserved.

The exchange came after a hearing last week before the Assembly's Financial Institutions Committee on a bill sponsored by Representative Mark Gottlieb (R-Port Washington), pro temp speaker, requiring CUs over $100 million to document their service record to low-income and minorities.

The league is vigorously opposing the bill, which is not expected to receive lawmaker attention this session but with bankers vowing it will be pushed hard perhaps during a special session later in 2008.

The Gottlieb bill also contains a provision for CUs to switch to mutual savings banks.