Inside Sources: What Happens If the Credit Union’s Tax Exemption Gets Removed?

The push to end tax exemption and treat credit unions more like banks would not make the allocation of credit better, cheaper and more efficient. Instead, it would reduce competition and limit credit, affecting mostly the underserved population. You can read this op-ed at Inside Sources. What Happens If the Credit Unions’ Tax Exemption Gets […]

Inside Sources — Credit Unions: A Formula That Congress Got Right

The head of the Florida Bankers Association recently opined that credit unions aren’t paying enough in taxes. The comment was rich, considering that banks control 93% of financial depository institution assets. Deemed too big to fail, it was these very banks that turned their backs on consumers and small businesses during the last recession, while […]

Real Clear Policy: Reform Wall Street To Help Main Street

There’s finally light at the end of the seven-year-long tunnel: The Senate is set to take action to right the Dodd-Frank Act’s many wrongs. For customers of Main Street financial institutions –regional banks, credit unions and community banks – the proposed reform will benefit them, their communities and the general economy. To read more, visit […]

Morning Consult: When It Comes to Banking, Size Does Matter

In a reaction to the last major financial crisis, Dodd-Frank (the Wall Street Reform and Consumer Protection Act) was passed, and with it came hundreds of new regulations designed to provide additional financial stability, as well as ending the bailouts of “too big to fail” giant financial institutions. In its effort to prevent a future […]

Real Clear Markets: When Regulators Pick Winners, Consumers Are The Losers

A welcomed theme in the recent election cycle was promise of a thoroughgoing review of unneeded regulations. Regulations that never were subjected to consumer cost-benefit analysis, or that pick winners and losers, or that are in a constant state of flux are prime candidates for repeal. Within the financial community many regulations have arrived as […]

Banks “Too Big To Fail?”

In recent years, we have heard complaints of how difficult it is for many of us to get a mortgage loan.  The flagship example was Fed Chairman Ben Bernanke’s difficulty obtaining a mortgage – a credit denial that is difficult to explain.  A review of bank and credit union behavior reveals that banks have pulled […]

The Hill’s Congress Blog: Protecting Banks is Not the Answer

Some banks are asking state legislators to pass resolutions calling on the U.S. Congress to eliminate the nonprofit status of credit unions, effectively imposing new taxes on the banks’ smallest of rivals.  Said differently, “too big to fail” banks – those first to get in line for federal help and bailouts – are coming to […]

ACI in Real Clear Policy: Are Banks Too Big To Compete?

This article written by ACI president Steve Pociask discusses so called “too big to fail” banks and their attempts to squash competition with the help of Congress.  It raises the question — are big banks are too big to compete?  The article, published in Real Clear Policy, can be downloaded on their website.

Be Careful When Crying Wolf

If you have a lick of sense and are in the banking business, you’ll be very careful about attacking small, well-behaved competitors.  The public has not forgotten the banks’ outrageous overdraft fees, the low account balance fees, scams surrounding foreclosures, the unwillingness togive mortgages, and the deeply resented TARP – almost a trillion dollars the […]