American Banker: Credit unions’ tax-subsidized bank purchases harm consumers

American Banker, April 8, 2022, Credit unions’ tax-subsidized bank purchases harm consumers

While credit union lobbyists plead innocence due to branch closures—most of which

, by the way, are occurring at the largest banks—credit unions are in fact exacerbating consolidation among locally based community banks. The ugly truth is that this phenomenon involves larger credit unions using their tax subsidy to make inflated purchase offers of smaller, healthy institutions.