Banks fight back with $50,000 donation

The Utah Bankers Association said Wednesday it will donate $50,000 to local school districts in response to recent media advertisements taken out by the Utah League of Credit Unions regarding a controversial resolution now under consideration by the Legislature.

"Instead of responding to the Utah League of Credit Unions' misleading mass media attacks with a media campaign of their own, Utah's banks have decided to instead donate an equal sum to Utah's school district foundations," the UBA said in a statement.

Media reports have stated that the credit union league has spent $50,000 on its advertising campaign opposing HJR1, "A Joint Resolution Related to Financial Institutions." The resolution, having been approved by the Utah House, is now under consideration by the Senate.