Congress To Utah Bankers: Don'tBother

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WASHINGTON - (02/11/05) -- There is virtually no chanceCongress will get involved in Utah's credit union-bank wars, evenif state lawmakers pass the anti-credit union resolution making itsway through the legislature, a key member of Congress saidThursday. "I don't think the chairman has any interest in thisissue, and if the chairman has no interest I don't see it goinganywhere in the committee," Utah Sen. Robert Bennett told TheCredit Union Journal Thursday, referring to Senate BankingCommittee Chairman Richard Shelby of Alabama. Bennett, scion of awell-known banking family in Utah, said he has been following thestate's credit union-bank wars for years but sees little interestin attacking the issue outside of Utah. The non-binding resolutionasking Congress to allow states to tax federally chartered creditunions has very little support in Congress, according to Bennett."I just don't see Congress doing anything with it," he stated. Thecredit union tax issue, he noted, was debated in the 1990's duringthe fight over HR 1151, and "there's no appetite to revisit it," hesaid, adding he has relayed his feelings to the Utahbankers.

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