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WASHINGTON — CUNA took the Government Accountability Office report requested by Bernie Sanders (I-Vt.) one step further in several categories to reveal additional favorable figures for credit unions in defending against bankers’ attacks.

According to CUNA’s analysis of the study, it would take approximately 313 years for the credit union tax-exemption of an estimated $1.4 billion a year, as figured by Treasury, to equal the $438 billion (2006 dollars) the federal government spent cleaning up after the failure of the Federal Savings and Loan Insurance Corp. The total taxpayer cost boils down to $166 billion for resolution and $272 billion in total interest costs.

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