Florida Bankers’ attacks on credit union plan are pound foolish
Last week the Florida Bankers Association released a sheet of talking points aimed at coalescing opposition around state Sen. Rene Garcia‘s legislative initiative — SB 1154 — that would allow credit unions to accept deposits from public sources. The bankers’ document paints the member-owned cooperatives as avaricious monsters feeding at the public trough, though the FBA’s own members — giants like Bank of America, SunTrust, Wells Fargo and J.P. Morgan Chase are represented on their board — currently profit massively off of deposits originating from taxpayers, partly owing…
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