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WASHINGTON–While credit unions are hailing regulatory relief provisions in S 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, numerous consumer groups and others are blasting it as a gift to Wall Street that wipes away the consumer protections and other safeguards put in place following the deep recession of a decade ago.

DES MOINES, Iowa—Nearly 1,000 credit union advocates descended on this state’s capitol Wednesday to push back against a state bill that would increase taxes on Iowa’s credit unions, while lowering them for banks.