Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Thursday, May 19, 2011

Wisconsin's Credit Unions Under Attack, But From Whom?

Have the people of Wisconsin ever had a greater enemy than their governor?

The Wisconsin Legislature's Joint Finance Committee Thursday voted to include language in the state budget bill that would make it easier for Wisconsin's 2.2 million credit union members to be stripped of their equity in the cooperative financial institutions they own--by permitting direct conversion from a credit union to a bank charter, according to the Wisconsin Credit Union League.

The vote on the budget amendment came after the provision was inserted into the bill without any public hearings, without any notice to credit unions, and without seeking any input from credit unions or their members, the Wisconsin league said.



http://www.alternet.org/newsandviews/article/592193/wisconsin%27s_credit_unions_under_attack%2C_but_from_who/