X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SALT LAKE CITY – Nearly three years after Utah banks filed complaints, the Federal Elections Commission has finally put to rest accusations the Utah League of Credit Unions and eight of its members acted improperly in supporting the successful campaign of U.S. Rep. Rob Bishop (R. Utah) in defeating a Utah banker. “This all turned out as we anticipated-silly allegations to start with,” declared Scott F. Simpson, president and CEO of the League. In vindicating CUs, the FEC told the League in a formal notice sent to attorneys that it lacked any reason to pursue banker allegations that the League or the eight CUs had violated federal law by financing newsletters, a poll and various member communications to support Bishop in his primary bid. The banks had complained the League and the CUs led by America First FCU had spent $140,000 for distribution of newsletters and other correspondence in an advocacy role. America First had also extended a $40,000 loan to help Bishop finance his campaign. But the FEC held that the CU correspondence with members was legitimate and that there was no requirement for the League to reveal the costs of telephone polling and canvassing of neighborhoods performed for Bishop who defeated Kevin Garn, chairman of the First National Bank of Layton and a cousin of former U.S. Sen. Jake Garn, also a banker. Garn was also Speaker of the Utah House at the time of his defeat. The FEC also held that the America First loan was legal and was not unduly favorable to Bishop, a school teacher, who had received a strong endorsement from the League. -

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.