Anti-Credit Union Super PAC Says Feenstra Ready for Battle With CUs

Friends of Traditional Banking highlights Representative's reelection as vital to group's efforts in taking on credit unions.

A banking Super PAC says that a newly reelected House member from Iowa has made it clear he’s ready to take on the largest credit unions.

Friends of Traditional Banking is touting its three victories in House and Senate races and citing comments from Rep. Randy Feenstra, R-Iowa, as evidence that credit unions might face some problems during the 118th Congress.

The group said Feenstra told the Super PAC during an Oct. 12 call that, “I’m not afraid to call out the largest credit unions who are behaving like banks. Thanks to Friends of Traditional Banking, we can take the fight to them!”

Feenstra vs. Credit Unions

As the chairman of the Iowa Senate’s Ways and Means Committee, Feenstra proposed to impose state income taxes on credit unions.

And his pre-election comments may also take on added urgency for credit unions since he is seeking a seat on the tax-writing House Ways and Means Committee.

Friends of Traditional Banking Endorsements

Friends of Traditional Banking endorsed three candidates in this year’s House and Senate races and all of them won.

In addition to Feenstra’s victory, Republican Ted Budd was elected North Carolina’s next Senator while Republican Ron Johnson of Wisconsin won his bid for another term.