From Deseret News archives:
Saga of banks, credit unions isn't over
"Are you a member?" was a question for generations of Utahns with obvious spiritual connotations. Today, chances are this inquiry is about good standing with a credit union, not a religious denomination. Banking advocates, usually a droll bunch, become zealots when complaining of "unfair advantages" enjoyed by credit unions.
The seven-year fight has been bitter. Each camp invested tremendous resources in federal, state and legislative campaigns. Both sides hired armies of lobbyists for skirmishes at the Capitol while public relations firms battled in the media for hearts and minds of the general public. (My clients, the Industrial Banks, have declared themselves Switzerland in the dispute, so I am neutral.) In 1998, legislators enacted restrictions on credit unions for commercial lending, branching and membership. The combat continued until the 2003 Legislative Session, when credit unions retreated. The banking community declared victory.
In politics, as in military warfare, victory is not always determined by territory gained or lost but who has the best public relations support to create the impression of success. The banks' spin doctors (including LaVarr) have done a phenomenal job of establishing a consciousness that banks were the victors of this long conflict on Capitol Hill. The numbers tell a different story and suggest the struggle is not finished.
Comments
- Downtown holiday displays kick off 10:40 p.m.
- Shoppers 'experience' Black Friday 10:32 p.m.
- Ogden postmaster to retire 10:31 p.m.
- Comments sought on Bitter Creek 10:31 p.m.
- National news briefs 10:29 p.m.
- Cougars turn back Wildcats' 10:23 p.m.
- Hogle Zoo showcases honeybees 10:22 p.m.
- Birthdays for Saturday, Nov. 28 10:18 p.m.
- Brown to discuss assault 10:18 p.m.
- Ansel Adams print up for auction 10:17 p.m.
- BYU would like friendlier rivalry
263 - Protests against Phoenix LDS temple
211 - RSL wins MLS Cup on penalty kicks
202 - Thunder rolls by Jazz
136 - Letters: Rushing to judge Palin
133 - Boys basketball rankings
127 - Editorial: Poor welcome for Palin
112 - Man trapped in Nutty Putty cave dies
108 - Letters: Trump card for believers
92 - Rivalry Week is highly profane
87
Sloan's first successful two point line up was Stockton and Hornacek..Jeff...
year and best team when they played DWill and Fish together. They have been...
This is a real tragedy for all involved. The Daily Herald had a map of the...
Dick picks BYU... Who woulda thought?
Using greatness as defined by BYU fans Boise State is hands down the best...
Just for those how thought the Utes would go down big - Utah 60 Illinois 58....
There are a lot of people posting that must not have even read the article or...
MEM just beat POR at POR. The Blazer starters played big minutes the subs...
The Weber Cats got close...for a few minutes. But then Jackson Emery made...
I like to wish both BYU and Utah the best of luck in the rivarly...


You can be the first to comment on this story.