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Former credit union lobbyist Marvin Umholtz said the industry shouldn’t fear a new banker super PAC, saying the Friends of Traditional Banking PAC, will function “more like a scalpel than a battle axe.”

According to its website, www.friendsoftraditionalbanking.com, the new bankers’ PAC was organized by the Utah Bankers Association and includes representatives on its advisory council from 10 other state bankers associations that have historically been hostile to credit unions, like Kansas and New Jersey.

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