Expanded CU Services Sought

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WASHINGTON - (04/26/05) -- The House is expected to vote assoon as Tuesday on a bill to allow federal credit unions to expandlifeline services, like check cashing, money orders and wiretransfers, to non-members within their fields of membership. Butthe provision allowing services to non-members has a long way to gobefore final passage, as it has yet to be introduced in the Senateand is opposed by the banking lobby which sees it as anotherexample of credit unions expanding their reach beyond thetraditional common bond. At least half a dozen states have passedsimilar allowances for state chartered credit unions over the pasttwo years.

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