Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Stating he wants to set the record straight, NAFCU President/CEO B. Dan Berger told Rep. Steve King (R-Iowa) that some banks – and not credit unions – may deserve additional scrutiny from the Government Accountability Office.

“Perhaps the banking industry is the one that needs the real study, given that nearly one-third of banks are Subchapter S corporations that pay no corporate income tax,” Berger wrote in a rebuttal to King’s call for a GAO report that would help determine whether credit unions still deserve their current tax exemption.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

David Baumann


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.