WASHINGTON — Bernie Sanders (I-Vt.) may have left the House for the Senate, but his vigorous support of credit unions and criticism of the big banks has not changed.
"I want to see credit unions grow and flourish because they are good for the working people of Vermont and the working people of America," Sanders said.
Credit unions are vitally important to helping low-income families get a leg up, he said, "You understand that while some talk about a booming economy, five million more people have slipped into poverty and the middle class has begun to shrink," Sanders stated. These are the people most susceptible to predatory lenders, he pointed out.
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The way credit unions are constantly under attack from the bankers, he added, "You must be doing something right."
No matter the arguments of the banking groups against the credit union tax-exemption, Sanders said, "Let me tell you, as long as I'm a member of the United States Senate, they are not going to tax credit unions…The American public would be much better off if the United States Senate looked at the tax breaks…and general rip offs of the big banks." Sanders cited many of the statistics from the recent General Accounting Office report, which he had requested.
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