Bank lobby lashes out at credit unions

[seafan]

Source: The Hill

The nation’s biggest bank lobby sent Democratic leaders a letter Friday lashing out at credit unions for seeking to expand their lending authority to improve the economy.
In a lengthy letter to Speaker Nancy Pelosi (D-Calif.) and House Education and Labor Committee Chairman George Miller (D-Calif.), the American Bankers Association (ABA) urged lawmakers not to increase the amount of money credit unions may lend.
ABA and 56 state and regional bank lobbying associations said lawmakers should “oppose this unnecessary expansion of lending authority.”

The bank lobby’s effort comes after Rep. Paul Kanjorski (D-Pa.) urged Pelosi and House leaders to raise the business lending cap for credit union members from 12.25 percent to 25 percent.
Kanjorski argued an increase would lead credit unions to lend more to small businesses and create as many as 100,000 jobs. Kanjorski personally appealed for the change with President Barack Obama on Air Force One as the president visited Allentown, Pa.

The bank lobbies said the change “will only increase the risk exposure of credit unions” and “result in credit unions straying further from their traditional mission of serving customers, particularly those of modest means.”

.....

Credit union lobbying groups immediately shot back, saying banks have failed to increase lending to small business attempting to weather the bleak economy.
“I continue to find it interesting that the ABA and the cabal of state banking organizations continue to focus on credit unions while the (Federal Deposit Insurance Corporation) continues to take over a record number of banks,” said Dan Berger, executive vice president at the National Association of Federal Credit Unions (NAFCU). “Like my grandfather used to say … those in glass houses.”

Read more: http://thehill.com/homenews/house/70685-banks-lash-out-at-credit-unions-in-letter-to-senior-democrats

---

If there were ever any doubt whatsoever that Big Finance Lobby/Wall Street are actively trying to destroy the middle class, this is yet another indication.


Support your local credit union, people. You will own a piece of it. They also issue credit cards, provide great banking services, and will be happy to see you walk in the door.

[The Velveteen Ocelot]

1. I love my credit union. I'll never use a regular bank again.

[Blue_Tires]

12. +1

hope to have my insignificant accounts transferred completely over by next month...

[rpannier]

13. I have both a CU and a bank (in the states)

My bank is in a small community and it is excellent -- it helps that the bank pres doesn't see his bank as the next BofA
My CU is in a larger community near Chicago and they are great as well

I've come to the conclusion that if you're in a city -- Credit Union
Small town either will work

[prairierose]

23. That is exactly the way that I feel about my CU..

now that I have been with them for several years, I will never go back to a bank.

[Andy823]

68. I agree.

I moved my business accounts and personnel accounts to the local credit union about 5 years ago, and I am very happy with them. I left Bank of America when they closed down the branch I used, which was 20 miles from my home. I did not use the local banks because of problems I had with them in the past, but when a local credit credit union opened up a local office, I switched the them. I would never go back to the banks.

[shanti]

88. +2

i've banked at my cu for the past 15 years - it's the best financial decision i ever made! i'd never go back to a regular bank.

[efhmc]

116. 25 plus years using my credit union. Moved from Houston 12

years ago and still use them.

[laughingliberal]

2. Just when you think their greed and contempt for the middle class couldn't get worse.

Why do the banksters hate America?

[tomm2thumbs]

29. This is what Health Insurers would do to Health Co-ops - Corporate Suffocation!

At least we can see it for what it is - I would hope that they'd let Walmart get into the banking system and compete with Wall Street banks - they need some real competition out there and at least Walmart would provide it. In this case, sometimes you have to pit shark against shark.

[nxylas]

72. They love America!

In the same way that vampires (of the old-skool Universal/Hammer variety, not these pale modern emo vampires) love virgins.

[CaliforniaPeggy]

3. I love my credit union!

I will not willingly use a bank.

I applaud the credit unions for seeking to do the job the banks aren't!

K&R

[msongs]

4. our credit union has lousy rates n service as well, don't use it nt

[Kali]

7. mine's the same

been disappointed with the two in my little town

[Divine Discontent]

39. I use the one associated with my employer, outside of not having to pay for the account, I don't

like the customer service I've received. They're arrogant and their rules are very restrictive. I hear many people like theirs, so more power to the credit unions, because banks are absolutely horrible.

[Nostradammit]

18. Then why on Earth do you call it "our" credit union?

We switched from a lousy bank to a wonderful credit union and won't look back.

F*ck the banks.

[JetCityLiberal]

32. Because they don't sell hero worship President Obama merchandise like your link? n/t

[tonekat]

5. Nationalize the Banks

Really. Letting greedheads run the financial backbone is not justified, especially now.

[defendandprotect]

33. Completely agree . . .

[dhpgetsit]

6. What has it got in it's pocketses?

My Profits! Does it have my precious Profits?

[Jane Austin]

8. OMG!

That reads like The Onion!

'Twoud be hysterically funny if not so sad.

[silverweb]

9. I love my credit union.

I've been with them for over 25 years, including having business accounts and loans, and they have been wonderful 100% of the time. I want nothing to do with commercial banks.

[exboyfil]

10. I refinanced my mortgage a couple of months ago

with my credit union. They had very competitive rates for a 15 yr mortgage, and, best of all, low closing costs. They plan to keep the loan inhouse which I also like.

[Name removed]

111. Deleted message

Message removed by moderator. Click here to review the message board rules.

[lostnfound]

11. Proud and happy credit union user here. nt

[denbot]

14. We no longer use banks. Just our credit union.

Fuck'em.

[AllyCat]

15. I've been a member of one for about 15 years now and a new one is opening in my little burg.

Can't wait to join there too!

[Vidar]

16. Say no to banks, yes to credit unions.

[Bozita]

17. Kudos for CUs

CU member since '66.

[defendandprotect]

19. 'Cause capitalism is about competition . . . oh, yeah !!!

Capitalism is about killing the competition -- !!!

[orwell]

30. Monopolies don't like to compete...n/t

[defendandprotect]

20. dupe

[lovuian]

21. thank God for the Credit Union

they are competition

[SeattleGirl]

22. Fuck 'em!

I finally gave up on banks, and now belong to a credit union.

One of the best decisions I've made.

[Rosa Luxemburg]

24. Lobbyists should be put in a large boat and released out into the ocean

[avaistheone1]

26. Ross Perot was right all along. He said to get the lobbyists out of Washington, and

to beware of the sucking sound of corporations taking our jobs out of the country.

Although I did not vote for him, now in retrospect I wish I did so.

[Robb]

96. It would've been interesting, if nothing else. nt

[JHB]

117. Perot talked a good game, but never forget that....

...he was one of those lobbyists, and made his fortune on government contracts.

[Historic NY]

50. near Somalia.

[muntrv]

71. There's no government and no taxes in Somalia. Perfect place for lobbyists.

:evilgrin:

[Xithras]

94. The Somali's wouldn't want them

They only want people who can be ransomed for cash. Who would PAY to rescue a lobbyist?

[mbperrin]

54. As long as it's a leaky boat with 10 pounds of raw liver for each lobbyist

aboard....

[brentspeak]

76. No. Let them stay on the boat

So an accompanying submarine can then torpedo it.

[2Design]

25. it is easier to like your credit union once you leave and try banking

you will go back - they are better over the long haul

[avaistheone1]

27. The banks prove once again they are slime and can't be trusted.

They have no shame.

[rumpel]

28. What nerve! n/t

[Gamey]

31. I Believe In Free Markets

That's why banks and insurance companies should DIE! They should be subjected to Death Panels of by and for the people. From here on forward, energy, air and water should also be included as those most valuable resources in our lives that are under our complete and total control. Not some ConglomoCorp. Not PoliticoCorp. Not noone but US.

[Iwillnevergiveup]

34. K&R for credit unions!

I've belonged to one for 20 years and have never been sorry. In fact, every time I talk to them or visit, I commend them for their courteous service. Once, when a deposit I mailed didn't reach them for a week or so, they called because 2 checks that came in would have overdrafted my account. They covered the checks and said not to worry about it - eventually they'd get my deposit. Then, someone called me back and said it had been received and credited to my a account. How about that?

By contrast, I got a mileage check for $18.00 drawn on a Wells-Fargo bank. I took it to a local W-F branch, and they refused to cash it because I didn't have an account there. And I never will.

I've persuaded 2 friends to drop B of A and join a credit union. Hopefully, this will continue. :evilgrin:

[Jack Rabbit]

35. Let me see . . .

The banks were bailed out because they were too big to fail. And then they used their gifts from the taxpayer to lobby Congress against reform. No they're lobbying Congress to keep credit unions form competing with them.

OK, bankers . . .
FAIL, YOU MOTHERFUCKERS!!
And go jump out a twentieth story window while you're at it.

[liberation]

40. I have noticed a trend that the more vocal pro "free market" business types...

... are usually the ones least likely to succeed in a competitive environment. And can only succeed either by piggybacking to other people's success, or by increasing (illegally or by colluding with the government) the barriers of entry to such levels, as to make it impossible for others to even dare to compete with you.

In other words, just like the "pro-life" contingent is really an "anti-choice" movement, the "free marketeers" are really "anti-competition" The raping of the English language, in order to pervert the meaning of the terms used to drive the conservative memes in the past three decades in this country, could make Orwell blush.

[pjt7]

36. Credit Unions Need More Support

from out Goverment.

[Left Coast2020]

37. ABSOLUTELY!! I love my CU too.

I hope its okay to plug mine, but I love Selco CU--21 years. And BTW, Go Ducks!

[earcandle]

38. True dat. We love our Credit Union also!

I really appreciate the across the board equality.  

[ima_sinnic]

41. I have been a member of 2 credit unions in 2 states for amost 15 yrs

The only fees I've ever paid were those of my own making--overdraft fees during a period when I was on the edge financially and had to float checks--but even those were sometimes waived by a teller or CU officer if I could cover the balance within 24 hrs. I have a Visa debit card from each of them that is good anywhere a credit card is, and both credit unions have total online banking access. In every way they have fit what I need. I would not bank at one of the McBanks if my life depended on it.

[pnorman]

42. This is what I just posted on a couple of union-related Listserves I participate in:

Bank lobby lashes out at credit unions

The nation’s biggest bank lobby sent Democratic leaders a letter Friday lashing out at credit unions for seeking to expand their lending authority to improve the economy.

In a lengthy letter to Speaker Nancy Pelosi (D-Calif.) and House Education and Labor Committee Chairman George Miller (D-Calif.), the American Bankers Association (ABA) urged lawmakers not to increase the amount of money credit unions may lend.
.
.
.

http://thehill.com/homenews/house/70685-banks-lash-out-at-credit-unions-in-letter-to-senior-democrats

That commie agit-prop classic, "Its A Wonderful Life", should be appearing all over the TVs this month. It's well worth watching time after time, so watch it again, along with your kidz. The above news item is like Henry Potter (Lionel Barrymore) trying to put the blocks to George Bailey! (Jimmy Stewart)

Fraternally, P

PS: Check this out: FBI Considered "It's A Wonderful Life" Communist Propaganda
http://www.wisebread.com/fbi-considered-its-a-wonderful-life-communist-propaganda

[twitomy]

108. Here is another article by the same guy.,.

BTW..Interesting story abou the FBI...

http://www.wisebread.com/why-is-rich-often-equated-with-evil

Thought it was good a good article too.

[Andronex]

43. Avoiding the big Banks...

and doing business with a credit union instead, is probably the most significant political action the average american citizen can make.

[mstinamotorcity]

44. They are only

looking out for their own interests. Members of credit unions have an actual stake in how well they do.you get to see annual reports and get updated status on how well your credit union is doing. They also partner with other credit unions to have more buying power.not merging to be super bank. They loan to its members and give more personal attention. Sometimes the interest and finance charges may be a little high according to your history of credit,but your lending chances are better if you belong to a credit union.As far as credit cards go.unless you really need it,you should keep balances low.Charge no more than fifty dollars at one time.break the payment down into three payments honoring minimal requirements.do the same thing every ninety days.this will keep your account active.They may decide to lower your available amount of credit (sorry,talking about banks with credit cards)or want to get you to purchase more by telling you they will increase finance charges and all the other fine print moments.Personally i cut all credit card up when Dubya got into office. I knew times were going to get rough.Joined a credit union and been counting pennies ever since.The banking system is trying to recoup their losses by trying to gain access to you credit union dollar.Their need for their big bonus payouts and corporate greed won't allow even the hint of decency.With all the problems we have had with these financial institutions and investment banks i hope Americans can now see the light. Meaning, no longer let yourself be called a consumer. and when someone calls you that correct them and let them know you are an educated purchaser.

[depakid]

45. Who's it going to be Democrats?

BTW:

Credit unions already operate under usury provisions.

They seem to be doing fine.

[waronbanks]

46. When Chase

Ramped up my credit card interest rate by 9% for no reason other than they want to rape the American public before tougher regulations kick in (and by "tougher" I dont mean "tough"...still pretty lame regulation changes if you ask me!) I canceled the credit card and got one through my credit union and also refinanced my car loan (which was also through Chase) through my credit union. Thats what all Americans should do...stop giving the banks our business since everything they do is designed to make us fail. They want us to fail on our payments, default on our loans, buy into their shitty system set up to make huge profits off of the middle and lower income population.

There should be all out War on Banks...they caused the meltdown and continue to steal every dime they can from hard working Americans.

[MadMaddie]

115. You nailed it! The truth is they can't compete and so they

have to use their influence to crush any competitions. Credit Unions have been very low key and running their successful business models.

Welcome to DU!!

[barbtries]

47. i would love to switch my money to a credit union

but can i? aren't there prerequisites, like working in a particular field or having your employer affiliated with the credit union? thank you.

a few days ago i signed up online to look into getting an account at a credit union. i gave them my email and my phone number. i was told someone would be contacting me. it never happened.

[Gormy Cuss]

52. Some credit unions are chartered to serve a city or county.

You may have one of those near you. Check the phone book and do a web search. Any CU without a corporate name or the word "employees" in its name may be a community CU.

[tabbycat31]

57. check with the credit union

I interviewed with one last year and their only prerequisite for membership was that you lived, vacationed, worked, or worshiped in M or O county, NJ. It started out as only employees for a telecommunications company.

[mstinamotorcity]

66. All of your replies are

on the money. Look for credit union that work with in your community and some credit unions let you refer friends and family. There are a lot of ways to get in. get you local yellow pages or go online and pull up the listing for credit unions in your area. Ask family members about credit unions they belong to and find out how they like the service. See if their credit union gives bonuses for referrals.Mine does. Don't be a slave to corporate banking. Find your niche and get out.

[barbtries]

91. i'll try

and i appreciate all the responses. as i mentioned in my post, the local credit union i inquired about (i filled out a web form) told me i would be hearing from them and i never did. maybe they're extremely busy. i won't give up though. thanks to all.

[hobbit709]

48. If the banks are against it, I'm for it.

[Historic NY]

49. Why do they hate people so much? .The Credit Union is people....

its the cops, teachers, fireman, retired and just plain Joe that take a chance on each other. I have had and still have a car loan and home equity loans at rates far below my regular bank. I think they are just pissed because they are losing and the CU's are gaining.

[peacebird]

51. Love our credit union! We have always carried our mortgages there, and our CC's

Our IRA's and our 401K's. We do all our "banking" at the credit union! Would not have it any other way. Great rates, phenomenal service.

Have used nothing but credit union for almost 30 years.

[shireen]

53. just joined the NASA credit union

after my Visa with Chase jacked up my interest rate, despite good credit rating and timely payments, i was able to get a CC with them with a very reasonable APR.

So far, my regular bank, M&T, has been treating me well, and seems to be 'behaving' fairly well compared to the other big banks in the news. I'll stay with them as long as they do a good job.

[Paula Sims]

55. Just be careful of who insures those deposits

Not all Credit Unions are insured by the FDIC or NCUA, some are insured by state private insurance companies so that they can raise the insured amount. That's how the whole S&L debacle started in Ohio -- the S&L's didn't want FDIC insurance on their deposits, went private, those insurance companies went under, and then we have the early 1990's. . .

I was at a local credit union and they were FDIC/NCUA insured but decided to go private so I bailed. Then I went to a local bank that was bought out by B of A. Now I'm just waiting for my husband to get another job (he's been out for a year and a half) before we tackle that beast.

[fascisthunter]

56. fuckers!

[ananda]

58. THANK GOODNESS FOR CREDIT UNIONS!

The credit union is the last bastion of sane
economic harboring for our endangered money.

[pscot]

59. Fuck the banks

And the parasites who operate them.

[windbreeze]

60. Keep your hands off my credit union...

and what the banks don't like, is that the credit union, is people like me and you....wb

[Odin2005]

61. Oh FUCK THEM!!! Or better yet, these Banksters can go fuck themselves.

:grr:

[Not Sure]

62. Until there's a credit union bailout, the banks can just STFU

[Cleita]

63. I joined a credit union when my bank went under early in the year and

I wish I had done it sooner. Not only that they sent me a post card the other day offering car loans at 3.9% interest with no gimmicks.

[Daphne08]

64. My husband and I are in the process of moving our money

to a credit union right now!

Screw these greedy banks!

[SOS]

65. Take your money out of the national banks

The 19 largest banks (Citi, Bank of America, JPM Chase etc) are the culprits.
Take your money out!

Go to a CU or a state-chartered bank.

Since We the People have no voice in the Senate when it comes to regulating these crooks, there is only one option left....
Vote with your money.

[valerief]

67. +1,000,000

[muntrv]

69. I'm a CU employee. This is another way for you to support local business.

[orbitalman]

70. SCREW these banks...

I say audit them and catch them with their pants down.

[old mark]

73. We had a bank account for several years just to pay bills online,

found that our credit union offered the same service and closed our last bank account last year. We will never go back to a bank.

mark

[Joe Chi Minh]

74. The bank lobbies said the change “will only increase the risk exposure

of credit unions” and “result in credit unions straying further from their traditional mission of serving customers, particularly those of modest means.”

Whatever else you might think about the banks and their lobbyists, you'd have to have a heart of stone not to be moved by the depth of their compassion and solicitude for the little guy.

Oh, the pity and the sorrow.... I'm sure if Michelangelo were alive today, he'd want to sculpt a Pieta of a leading banker.

[JackInGreen]

75. I would love

to use the local credit union that my other half does, however, due to previous current collections (medical) they won't allow me to open or be added on to any account.
I'll be damned if I sign on with a regular bank in this day and age, so for now, I'm out in the cold.

[BrklynLiberal]

77. Whenever I could join a CU, I did. They are way better than regular banks.

A credit union even helped me buy my house.

[Uncle Joe]

78. Kicked and recommended.

Thanks for the thread, seafan.

[SHRED]

79. I belong with 2 and great service!!

[Wizard777]

80. DO IT! Expand away! America is all about unions. Even credit unions.

Besides if Pelosi replies to the bankers letter. They'll charge her fees to read it. :banghead:

[Joe the Liberal]

81. I'll take a credit union over a regular bank anyday. n/t

[Homer Wells]

82. A deep and heartfelt "FUCK YOU!!!!!

to the banking lobby.

:mad: :mad: :mad: :mad: :grr: :grr: :grr: :grr:

[GrantDem]

83. I will never use a bank again. I love our local Credit Union.

The banking industry lobby sort of gave away the ulterior motive of their line of BS:

“result in credit unions straying further from their traditional mission of serving customers, particularly those of modest means.”

In other words... Us banks... We don't do that.

[dave29]

84. Our credit union has been fantastic.

.

[onethatcares]

85. just where the hell do those credit unions get off???

I mean "straying from their mission of serving customers" next thing you know, they'll start paying decent interest rate on savings and there goes the neighborhood.

Repeat after me, loudly and loudlyer, USURY, USURY, USURY it's what we need.

:hide:

[ribrepin]

86. Add Ribrepin and Mr. Ribrepin to the list of happy customers

We have slowly transferred all our financial business to our local credit union. Our credit Union handles our mortgage, car loan, checking, savings and CD accounts. Couldn't be happier.

When we decided to get our first credit card for internet purchases, we used a recommendation from our credit union. When someone got ahold of the number and began charging, they alerted us within two days and removed the charges. We use the credit union for all our financial needs.

[Reader Rabbit]

87. Suck it, banksters!

Credit unions are the ultimate people-powered revolution!

[ThoughtCriminal]

89. Merry Christmas Mr. Potter!

Just a minute — just a minute. Now, hold on, Mr. Potter. You're right when you say my father was no business man. I know that. Why he ever started this cheap, penny-ante Building and Loan, I'll never know. But neither you nor anybody else can say anything against his character, because his whole life was...Why, in the twenty-five years since he and Uncle Billy started this thing, he never once thought of himself. Isn't that right, Uncle Billy? He didn't save enough money to send Harry to school, let alone me. But he did help a few people get out of your slums, Mr. Potter. And what's wrong with that? Why...Here, you're all businessmen here. Doesn't it make them better citizens? Doesn't it make them better customers? You...you said...What'd you say just a minute ago?...They had to wait and save their money before they even ought to think of a decent home. Wait! Wait for what? Until their children grow up and leave them? Until they're so old and broken-down that they...Do you know how long it takes a working man to save five thousand dollars? Just remember this, Mr. Potter, that this rabble you're talking about...they do most of the working and paying and living and dying in this community. Well, is it too much to have them work and pay and live and die in a couple of decent rooms and a bath? Anyway, my father didn't think so. People were human beings to him, but to you, a warped frustrated old man, they're cattle. Well, in my book he died a much richer man than you'll ever be!

[Maineman]

90. I have found credit unions much more desirable than banks

We are members of two credit unions, one for about 25 years.

[JohnWxy]

92. www.congress.org to send email. Let's expand credit unions!!

www.congress.org mkes it easy to send an email to your Senators or Representative

[rox63]

93. I've been with my CU for nearly a decade

I'll never go back to a conventional bank. I pay no fees for my checking account, they refund a certain amount of out-of-network ATM fees each month, and my credit card interest rate has been only 8.5% for the last couple of years. They aren't threatening to hike any of their rates at all.

[Blue_In_AK]

95. Credit unions forever.

I LOVE my credit union.

[gleaner]

97. I just switched to ....

a credit union after Chase Manhattan took over my regular banking chain. I have never felt more relieved in my life as far as how my banking needs are being dealt with. Also, the credit union wants my business. I'm not just another small depositor that a big bank wants to stomp into the earth. I will never go back. I'm also going to call and write too my Congressman and the House Banking Committee and tell them how furious this type of meddling from those greedy bastards of the ABA makes me. I also am pressing for greater regulation for them. I'm tired of seeing people trampled underfoot by suits who think they run the store.

[Nikki Stone1]

98. Leave the credit unions alone, you bankster motherfuckers!

:grr: :grr: :grr: :grr: :grr: :grr: :grr: :grr: :grr: :grr: :grr:

[SoapBox]

99. Of ALL the nerve / And, I L-O-V-E my credit union!

...these banks (BIG mega ones in particular) have some kind of nerve. I would saw them up and sell off the pieces if I had it my way. The crooks and liars at the "top" would be banned from any such positions forever, after what they've done to America.

I've belong to 3 credit unions for 30 years at least. I joined my first one after being screwed by First Interstate.

Never ever have I looked back...Let the banks Eat Cake is what I say!

[Honeycombe8]

100. How does a person find a credit union? I thought your employer had to have one for you to join it.

But it appears that is not the case?

[virgogal]

101. Most are available to anyone.

[CountAllVotes]

118. You can find a credit union in the state you live in here

http://banktracker.investigativereportingworkshop.org/credit-unions/

Note: I also found the local bank where I have a hefty $50.00 in. They have a a Toxic Asset ratio as of June 2009 of over 47%. And to think, they wonder why I only have $50.00 in the dump? :think:

:puke: in the meantime re: them.

I personally belong to 3 credit unions. One of them I've been a member of for almost 30 years. :thumbsup: to credit unions! :D :D :D

:dem: :kick:

[Honeycombe8]

120. Thanks mucho! I'm going to check this out. nt

[varelse]

102. I

I will never go back to a commercial bank.

[colsohlibgal]

103. I Got The Religion

After years with my bank, Chase, I dumped them a couple of weeks ago for a local credit union and feel cleansed. However minute, I like being a part owner and not forking my money over to billionaires. I hope the stampeding to credit unions picks up even more.

[underpants]

104. Desperation

someone is doing, and has been, their business better than they have

credit unions and middle sized banks were not the problem.

[yurbud]

105. we should put a credit union president in charge of overseeing banks

[nikto]

106. FUCK the Big Banks and their little lobbyists too!

Regarding America's money, I say...

Bring it all back to the neighborhoods of America
and screw Wall st & the Big Banksters.

Don't forget:
GLASS-STEAGALL HAS NOT BEEN RE-INSTATED!!!

[geckosfeet]

107. Opened and account with local CU a few weeks back. Getting ready to dump my bank.

[Bonobo]

109. I closed my business and personal BOA account and moved to my credit union. Yes!

I am happy that MY money is no longer feeding the grinning rictuses of the fat-cat stockholders of BOA.

[ProudToBeBlueInRhody]

110. Fuck you big banks!

I only use a credit union and it's great!

[Alcibiades]

112. This is how to get rid of the banksters

Of course, they don't point this out, but the banks have been the ones with the greatest say over credit union regulation for years. The irony is that many of the requirements that bank lobbyists have asked for because they thought they would make credit unions less competitive have pretty much also meant that they have been far more stable than the big banks.

[DesertDiamond]

113. Awww. The banks are looking out for the well being of their competitors...

Isn't that touching?

[onager]

114. The banksters are always trying this BS. And always lose.

e.g., Google "Credit Union Membership Access Act 1998." Or just "banks attack credit unions." You'll get a lot of hits. The banksters come up with some new argument every few years as to why credit unions should not exist. So far, it's been an Epic Fail.

Very few Congress-critters seem to be enthused about joining the banks in such an obvious David-v-Goliath fight. At least not publicly. So the banksters' efforts usually end with new laws basically saying - "Keep your grubby paws off the Credit Unions."

Not too long ago, the banks came up with the great idea that credit unions should not enjoy non-profit, tax-exempt status (since the CU members provide the capital for the CU, etc.)

After all, credit union members are typically working stiffs. We don't pay hefty Vapor Fees so that George Herbert Walker Shitforbrains Gotbux XIV can sit on his fat ass and do nothing except come up with more and more usurious ideas for new "banking products."

That must drive the banksters absolutely crazy. I hope.

(Yes, I have been a happy CU member for many years, through my job. The CU has a branch where I work. Everybody there knows me and vice-versa. And as a nice bonus, their on-line banking/bill-paying is great.)

[BlueCollar]

119. I fired banks twenty years ago

Have only done business with Credit Unions since. Best move I ever made.

[NuttyFluffers]

121. maybe they need a bank run or two to bring them back into line...

:evilgrin:

would that get their attention? hey, if we're all going down, might as well humble those with hubris, right?

:spank:

what? what? only talking strategy here...

O8)

[Doctor_J]

122. They're for "free enterprise" as long as doesn't compete with them

I hope I live long enough to see the next revolution, when lobbyists can't leave their homes for fear of being executed.