“We are not after customers. We are after the managers of large credit unions that are trying to have it both ways -- act like a bank but at the same time continue to use the credit union tax subsidy.”
“Our concerns about mixing banking and commerce didn't begin with the Wal-Mart application; they were just amplified by it. The industrial loan charter represents a back door through which commercial firms are entering the banking business.”
“Banks -- which completely fund the FDIC, from its pencils to premiums -- will be pleased to see their money better spent. And customers should appreciate enhanced coverage levels.”
“The banking industry is losing a valued friend, but we're confident that the committee will maintain the civil and pragmatic approach that Chairman Oxley fostered.”
“But if NCUA really wants to make sure low- and moderate-income individuals are served by credit unions, it would establish meaningful criteria and a system for assessing whether the mission is being accomplished.”
