IANAL, but if non-profit organizations are exempt from this law, then that necessarily includes credit unions, which are non-profit financial institutions run solely for the benefit of their membership.
If credit unions as part of the non-profit community, are exempt from this law, then banks can claim unfair competition.
Of course the law could exempt all non-profit organizations except credit unions, however that seems to be an option legislators are unhappy with. So, banks get the exemption too.
Slashdot Mirror
IANAL, but if non-profit organizations are exempt from this law, then that necessarily includes credit unions, which are non-profit financial institutions run solely for the benefit of their membership. If credit unions as part of the non-profit community, are exempt from this law, then banks can claim unfair competition. Of course the law could exempt all non-profit organizations except credit unions, however that seems to be an option legislators are unhappy with. So, banks get the exemption too.