The bankers talk out of both sides of their mouths. As they endeavor to keep credit unions from expanding their business lending powers and reforming their 1930s capital structure, they also want to embody credit unions. Imitation is the sincerest form of flattery.
Banks are being two-faced by trying to rein in credit unions while acting like them.
Bank of America announced last month that in June it will stop authorizing overdrafts at ATMs and for everyday debit card purchases unless a customer has a linked savings account or credit card.