MADISON, Wis. — In a ramped up anti-credit union attack by bankers on Community Reinvestment Act compliance, the Wisconsin Bankers Association said last week it has introduced a bill in the state legislature aimed at the "large, nontraditional Wisconsin credit unions" that need to document serving low income and minorities.
The bill, introduced Feb. 28 in the Wisconsin Assembly and later amended, would subject CUs over $100 million in assets to CRA-like rules in line with banks, said the banker trade group.
The Wisconsin Credit Union League countered that the proposed legislation is an attempt by the banking industry to avoid scrutiny on its role in serving low-income consumers.
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