The ABA's Banksplaining Machine Just Won't Quit

Like Daylight Savings Time, New Year’s Eve, dentist appointments and oil changes, you can count on certain things happening each year in our lives. But let’s add one more thing to that list: Arguments for taxing credit unions by bankers.

It’s the political messaging version of your loud, and possibly drunk aunt coming over to your house to catch up and make you feel bad about the choices you’ve made in your life. But you hold firm in your choices and politely defend them without showing too much emotion. And then she’s gone until next year. You stew for a while and complain to your spouse and then move on.

That feels like the life cycle of the pro/con messaging battle between the banks and credit unions. This argument has been going on for years with zero change to the tax status for credit unions. You can argue that it’s just a matter of time before the tax status is removed. You can also argue that pulp-free orange juice tastes better than that disgusting pulp-filled version that only, I assume, psychopaths drink. That argument will get you just about as far as this back-and-forth messaging from both sides.