Credit Unions' Allies Join Push for Quick Senate Action

Credit unions enlisted consumer activist and small- business allies Monday to pressure senators to quickly pass legislation easing membership limits.

"The American people want all consumers to have the ability to join a credit union," Stephen Brobeck, executive director of the Consumer Federation of America, said at a Capitol Hill news conference. "Consumer groups representing tens of millions of Americans strongly support Senate action to preserve this consumer choice."

And Americans for Tax Reform is "very much in support of this bill" to protect credit unions from special-interest attacks by bankers who seek to eliminate competition, said the group's general counsel, Peter Ferrara.

Credit unions want the full Senate to vote on the bill before the Memorial Day break begins May 25. But GOP leaders have said the Senate will be busy until at least June on other high-profile legislation.

The credit union industry and its supporters vowed a heavy lobbying assault during the break if the Senate dallies. "If we can't get it done by Memorial Day, we will be in every Senate office in the United States," said Daniel A. Mica, president of the Credit Union National Association.