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An American flag flies outside the Capitol building in Washington, D.C. An American flag flies outside the Capitol building in Washington, D.C., U.S. Photographer: Al Drago/Bloomberg

The FDIC is “looking at” the implications of credit unions purchasing banks, FDIC Chairwoman Jelena McWilliams said Wednesday, indicating that credit unions may have an advantage because of their tax structure and absence of Community Reinvestment Act enforcement.

“The playing field may not be exactly level,” McWilliams said, at a House Financial Services Committee that featured prudential regulators.

David Baumann

 

Credit Union Times

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