Banks versus credit unions. Banks versus credit unions. (Source: Shutterstock)

Citing research it funded, the American Bankers Association is asking the NCUA and its Inspector General to initiate a “top-to-bottom” review of the credit union industry because, the bankers contend, credit unions have abandoned their mission.

A private research group, Federal Financial Analytics, studied the credit union industry and reported this week that it believes that credit unions increasingly are abandoning their mission to serve Americans of modest means and are becoming indistinguishable from banks.

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