DENVER — Not content to fight their battles in the halls of Congress, the courts and the pages of the Federal Register, banks and credit unions are also jockeying for favored positions in the platforms of the two major political parties.
"Credit unions were originally conceived of as institutions to help meet the financial needs of people of modest means, and they have been granted impressive government benefits to encourage that mission," American Bankers Association President/CEO Edward Yingling wrote in a letter to the chairmen of both parties' platform committees. "Today, too many credit unions have strayed from that focus."
But CUNA President/CEO Dan Mica and NAFCU President/CEO Fred Becker countered that credit unions were the good actors in the latest financial services crisis and should be rewarded accordingly.
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