Good afternoon.
I want to bring to your attention an article in this morning’s Wall Street Journal – Some Smaller Bankers Still Owe TARP Money: Lifeline Turns Into Long-Term Source of Capital.
As noted in the article, “Five years after the financial crisis, 113 small to midsize U.S. banks still owe taxpayers about $2.7 billion.”
While credit unions proudly served Main Street America throughout the financial crisis and continue to assist in the economic recovery, many bailed-out banks are still struggling to meet obligations to the American taxpayer. We hope that you will keep this article in mind the next time the banking industry continues to shamelessly attack the good work of credit unions.
If you have additional questions about credit unions or the legislative issues impacting credit unions, please feel free to contact me at (703) 842-2204 or bthaler@nafcu.org.
Sincerely,
Brad Thaler
Vice President of Legislative Affairs
National Association of Federal Credit Unions