Last week, Wisconsin Gov. Jim Doyle put an end to a measure that would have allowed Educators Credit Union in Racine, Wis., to continue to sell cars.
Educators was ordered by the Wisconsin Office of Credit Unions last year to shut down its used car business by April 2010 after a complaint was filed by the Wisconsin Automobile and Truck Dealer Association.
In early June, an amendment was added to the state's budget in an overnight session of the Joint Finance Committee that would exempt Educator from a state law that prohibits credit unions from selling cars. Gov. Doyle vetoed the amendment in his budget bill announcement.
Gov. Doyle also vetoed three other provisions that would have affected credit unions. One provision would have provided credit unions with a more direct route to bank conversion; another limited CUSO lending authority, and the last was a requirement for credit unions to match data on delinquent taxpayers.
--lsiegriest@cutimes.com
Educators was ordered by the Wisconsin Office of Credit Unions last year to shut down its used car business by April 2010 after a complaint was filed by the Wisconsin Automobile and Truck Dealer Association.
In early June, an amendment was added to the state's budget in an overnight session of the Joint Finance Committee that would exempt Educator from a state law that prohibits credit unions from selling cars. Gov. Doyle vetoed the amendment in his budget bill announcement.
Gov. Doyle also vetoed three other provisions that would have affected credit unions. One provision would have provided credit unions with a more direct route to bank conversion; another limited CUSO lending authority, and the last was a requirement for credit unions to match data on delinquent taxpayers.
--lsiegriest@cutimes.com
