CUs Keep Distance From Debate Over Immigration Reform

With affirms over proposed immigration controls popping up across the political division the financial services industry is keeping an organ of sight on how some of these proposals may affect by what mode they reach out to immigrants.

The issue is of particular importance to credit unions, who pride themselves upon serving the underserved, and novel immigrants are a growing and profitable niche within the unbanked.

Among the tougher proposals is that of U Rep James Sensenbrenner (R-WI), which would make it a crime for any individual or business to help illegal immigrants come into the country or to help them stay here. CUNA Manager of Legislative Affairs Katie Herberder noted that the bill doesn't specifically mention financial services providers-but that's part of the question since it also doesn't specifically provide a carve-out for like providers, either. "It is true broadly worded, so it could potentially impact any business," she observ "We are monitoring it, on the other hand ...