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Ad Criticizes CUs on Interchange and Raises Specter of Taxing Them

An ad depicting a duck with a cigar in its mouth takes aim at credit unions' tax exempt status due to widespread credit union opposition of an amendment that would give the Fed the power to regulate interchange fees.

By Claude R. Marx | Updated on June 15, 2010

An ad depicting a duck with a cigar in its mouth takes aim at credit unions’ tax exempt status due to widespread credit union opposition of an amendment that would give the Fed the power to regulate interchange fees.

“If it walks like a bank…Talks like a bank…Quacks like a bank…It should be taxed like a bank,” the ad says from the Washington-based Democratic advocacy group American Family Voices. The ad shows a picture of a duck with a cigar sticking out of its mouth.

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