Following this year's legislation requiring banks to help fix the Savings Association Insurance Fund, Congress will soon address common charters for banks and thrifts. Repeal of the Glass-Steagall Act, which separates commercial and investment banks, will also be a top priority. Moreover, insurance underwriters and agents now acknowledge it's time to remove the barriers between banking and insurance.

It would be difficult to justify revamping the financial system without at least considering the role of credit unions. Moreover, recent judicial proceedings almost guarantee credit unions will be front and center in the upcoming legislative debates.

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