WASHINGTON –Regulatory relief for credit unions will help them save the American economic system, and thereby save America, Congressman Paul Kanjorski (D-Pa.) told NAFCU's Congressional Caucus today.
"You have the power to fill the void caused by the shakeup in the financial services industry," said Kanjorski, one of the key allies of credit unions on Capitol Hill.
While Kanjorski made no promise about this year, he pledged to help tell the story of all the good things credit unions do next year to persuade his colleagues to pass regulatory relief.
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"Credit unions will be seen as the top sailor in a rough sea," he said.
He added that because there will be fewer banks in the next few years because of failures and mergers, the banking lobby will not to be able to go after credit unions as strongly.
Kanjorski, who faces a difficult re-election battle this November, said the campaign will be intense because of the philosophical differences between the parties.
"But the issue that comes first for both parties is the nation, which we're trying to save," he noted.
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