Lobbying equals playing rough?
March 24, 2010 | alternatives, federal legislation, industry | Comments (0)Now even credit unions and community banks are being criticized for exercising their constitutional rights. I’m beginning to dislike the media. From the story:
Because they are smaller, credit unions and community banks have managed to escape the scrutiny aimed at their Wall Street brethren. But, size isn’t everything.
Credit unions and community banks are part of the same financial industry that spent millions of dollars lobbying against measures that would have beefed up consumer protection rights. They were also hit hard by the recession and had to take bailout money from the government. The difference, advocates of Move Your Money campaign said, is that they didn’t create the nation’s financial meltdown.
Well the payday lending industry didn’t cause the recession OR take bailout money.
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