MADISON, Wis. - After a delayed vote of several hours due to other items on the day's calendar, the Wisconsin Senate passed the Credit Union Consumer Choice Bill, S.B. 274/H.B. 573 by a vote of 24-9 late in the evening Feb. 8. The Senate also defeated several amendments offered on the floor that would have brought credit unions under some form of the Community Reinvestment Act. The banking lobby had pushed hard to get a CRA amendment attached to the CU bill in an attempt to kill the measure. "We couldn't be more pleased by this vote," said Wisconsin Credit Union League President Ron Halvorsen. "We have stated all along that this bill is designed to give more Wisconsin consumers the right to choose a credit union, and the Senate boldly stood up for the little guy in the face of a withering lobbying push by the banks." Evan Bane, director of communications at the league called the banks' objectives "blatently transparent. There was no nobel intent here, just a maneuver to kill our bill, plain and simple." The Credit Union Consumer Choice Bill is scheduled to be heard by the state Assembly Financial Institutions Committee on Feb. 16. A date for a full Assembly floor vote has not yet been scheduled.
Wisconsin Senate passes CU bill, banker amendments fail
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