Sen. Jerry Moran (R-Kan.), Sen. Jon Tester (D-Mont.) and Sen. Mark Kirk (R-Ill.) introduced a regulatory relief bill for community banks July 24 that includes four provisions. Two of those exclusively benefit community banks, and two would benefit both community banks and credit unions.
However, the CLEAR Act contained no credit union-exclusive regulatory relief provisions.
The snub by Tester is particularly painful because the Montana Credit Union Network contributed $49,233, and CUNA another $11,000, toward his successful re-election in 2012, according to Federal Election Commission records. Granted, political candidates aren't supposed to exchange favors for campaign donations. But if trade associations can't leverage PAC donations into support on Capitol Hill, are credit unions getting enough bang for their bucks?
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