Looking back 14 years ago finds the American Bankers Associationcharging that a CUNA program to win bankers' signatures onstatements of support violates antitrust laws. “Failing to makeclear that your association is not advocating economic retaliationagainst those who do not sign the support statement could quicklyraise the specter of antitrust violations,” ABA General CounselJohn Gill wrote to CUNA. CUNA spokeswoman Mary Reardon responded,“The idea was never to boycott or take business from the banks. Itwas to gather information.” Some credit unions have reportedlypulled deposits out of banks that failed to sign the “BankersStatement of Support” pledge that CUNA is using as part of itsOperation Grassroots lobbying program. Whether or not that actionis an implicit part of the lobbying effort raises the question ofpossible antitrust violations. That issue also finds America's 100largest credit unions growing at a 7.1% clip significantlyoutpacing the overall growth rate of 4.6% among credit unions. Thatgroup represented some $47.1 billion at yearend or 23% of allcredit union assets.
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