Lawmakers tone down battle between banks, credit unions

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A legislative battle between banks and credit unions eased somewhat Tuesday as lawmakers backed off a bill imposing a tax on credit unions.

A joint House-Senate committee on financial institutions recommended against the bill taxing large credit unions after the chairman declared it dead.

The bill would have levied a 2.25% tax on the business lending income of credit unions with assets of more than $100 million. It would have assessed another 2.125% tax on such income in excess of $25,000.

It was . . .


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