Low-income residential community.

Credit unions do not belong in the Community Investment Act, credit union trade groups said in letters to the Office of the Comptroller of the Currency and the House Financial Services Committee.

“While not subject to (the reinvestment act) credit unions do have a specified mission of meeting the credit and savings needs of consumers, especially persons of modest means,” Mitria Wilson, CUNA’s senior director of advocacy and counsel, wrote in a letter to the OCC.

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David Baumann

 

Credit Union Times

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