In a letter to the chairman and ranking member of the oversight subpanel of the House Ways and Means Committee, CUNA President/CEO Bill Cheney said the bank lobby "absolutely refuses" to accept the fact that credit union tax status has always been a function of the ownership structure of credit unions.
"It has never been about the power or mission of the credit union," Cheney wrote to Chairman Charles Boustany (R-La.) and Ranking Member John Lewis (D-Ga.).
Cheney was responding to a letter submitted for the record by the American Bankers Association during a July 25 hearing by the subcommittee on taxes.
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