Response to the following questions:
1. Why did commercial banks pursue legal action against the credit union industry in the late 1990s? What was the result of this legal action?
2. How has the credit union industry performed over the last 20 years?
3. What are the three types of finance companies and how do they differ from commercial banks?
4. How does the amount of equity as a percentage of assets compare for finance companies and commercial banks? What accounts for the difference?
If possible, please give examples to better understand your response.