Credit unions don't perform as good as banks on 65% of fair lending practices, according to a report by an organization that is pushing Congress to mandate that credit unions comply with the Community Reinvestment Act.
"While mainstream credit unions have made progress in lending to lower-income individuals, credit unions as a whole are not meeting public expectations for institutions that receive tax exemptions and are entrusted with the mission of serving people of modest means," according to a study by the National Community Reinvestment Coalition.
The report urges Congress to include credit unions under CRA and mandate that NCUA enhance the rigor of its anti-discrimination reviews.
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