America's community banks in danger of extinction due to credit union tax loophole
"In 1994, there were only 14 credit unions in the nation that were $1 billion or larger. Today, there are 300 and growing," said Friends of Traditional Banking Advisory Council Member
Alex Sanchez, who is also president and CEO of the Florida Bankers Association, in a recent FOX Business op ed.
"Meanwhile, according to FDIC official records, the number of banks in our nation is at the lowest point in recent history. From a high of 18,033 in 1985, there were 5,477 as of the third quarter of 2018."
Read his full op ed here:
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