Fake American Banker retweetledi
This is an incredible @AmerBanker piece.
A credit union advocate admits that credit unions would, in fact, gain an unfair advantage over community banks with a higher FDIC cap - that they would use the higher cap to attract larger business accounts.
Of course, that's pretty much beyond their mission, and it's exactly what two community bankers recently complained about in another American Banker piece (see below).
Credit unions are supposed to be sleepy little member-driven coops. They're not. But they're tax exempt.
Not sure the credit union guy thought carefully enough about this one....
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