This week's In the News looks at the debate between the banks and credit unions over the issues of membership. The nine resources discussed provide background information about the debate and the arguments from both sides of the issue. On February 25, 1998, the Supreme Court ruled that the National Credit Union Administration's policy of permitting federal credit unions to serve multiple unrelated groups was unlawful. As a result, the credit union lobby persuaded the House of Representatives to overwhelmingly pass HR 1151, the Credit Union Membership Access Act, by a vote of 411-8. HR 1151 will allow credit unions to form multiple common bonds with certain limitations. Similar legislation is now under consideration in the Senate.
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