“Given the change in the financial sector over the last several decades, it would be useful for lawmakers to reexamine the extent to which credit unions currently fulfill their original purpose. If they have strayed from their intended function and now resemble other taxed financial institutions, their exemption would represent a disparity across similar economic activities.”

-Erika York, Tax Foundation

“But if your word is your bond, does everyone who speaks share a common bond? In that case, the concept of a common bond is meaningless. That is the direction that the nation’s credit union movement, including its federal regulator, appears to be moving — and that’s something the public and policymakers need to stop and think about.”

-Aaron Klein, The Brookings Institute

“With respect to the credit unions and community banks, Congress set up credit unions in a certain way. They are not subject to taxation and they also don’t have CRA requirements…. I’m getting to that the playing field may not be exactly leveled.”

-Jelena McWilliams, FDIC Chair