Credit unions vs. banks

Banks and credit unions have fought for decades over the latter's federal tax exemption, but for the first time during the ongoing battle, there are signs policymakers may be willing to take a second look. American Banker set out to answer three vital questions: Do credit unions still deserve their tax exemption, how did the fight become so cantankerous, and what would happen to both industries if the exemption was taken away? Talking to both sides of the debate and outsiders, we offer the definitive look at the state of play and how it might change.