AFV LAUNCHES AD IN POLITICO CALLING ON CONGRESS TO TAX CREDIT UNIONS LIKE REGULAR BANKS- AND PASS THE DURBIN SWIPE FEE AMENDMENT

If it walks like a bank, talks like a bank, and quacks like a bank... it should be TAXED like a bank.

In 1934, Congress gave not-for-profit credit unions tax-exempt status due to their unique role as lenders of last resort for the poor and underserved.

But today, credit unions comprise a $680 billion industry. This is not your grandfather's credit union.

So why are these not-for-profit credit unions crying wolf about common sense interchange swipe fee reform?

Credit unions are carrying the water for credit card giants VISA and MasterCard— and the big Wall Street banks that helped cause the financial crisis.

It's about protecting profits.

Interchange fees cost small businesses and consumers $48 billion every year.

If credit unions want to play with the big boys—and share in their profits—then Congress should tax them like banks.

Today, American Family Voices took out an ad in Politico to tell Congress that credit unions should no longer receive special treatment... and to make sure to pass the Durbin Swipe Fee amendment into law.

You can click here to view the ad.