Congress is under increasing pressure to investigate credit union acquisitions of community banks, ICBA President and CEO Rebeca Romero Rainey wrote in a recent article on LinkedIn.
Impact: In the article, Romero Rainey discusses the growth of these tax-subsidized acquisitions, the impact on consumers and industry consolidation, and the need for Congress to hold hearings.
Grassroots: Meanwhile, community bankers can continue urging their members of Congress to hold hearings on credit union acquisitions via a customizable message to lawmakers via ICBA’s Wake Up page and recently published Wake Up Messaging Playbook.