WASHINGTON - National Credit Union Administration Chairman Norman E. D'Amours in a July 25 speech warned bankers not to sue expanding credit unions.
Speaking to Women and Housing in Finance, a Washington group whose members belong to banking trade associations and regulators, Mr. D'Amours said credit unions are fulfilling their legislative mission of serving people who need access to financial services.
If banks try to block that movement, they might be left holding the bag.
"When banks try to stop credit unions from reaching out into new areas, they ... might find themselves saddled with the responsibilities credit unions have," he said.
If banks block the industry's expansion, Mr. D'Amours said, "they are running the risk of people on Capitol Hill saying: Well, fine - but we'll assume you'll get involved" in poor areas.