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Banks will Succeed in Halting MBL Cap Increase, Kiplinger's Predicts

WASHINGTON - Once again, banking lobbyists will be successful in their attempts to stop the member business lending cap from being increased to 20%, according to Kiplinger's. In its July 1 issue, the publication wrote "credit unions won't win a bigger share of business loans...again." "Every year, they try to...

By Staff Writer | Updated on July 19, 2005

WASHINGTON – Once again, banking lobbyists will be successful in their attempts to stop the member business lending cap from being increased to 20%, according to Kiplinger’s. In its July 1 issue, the publication wrote “credit unions won’t win a bigger share of business loans…again.” “Every year, they try to persuade Congress to boost their business lending from 12.25% of assets to 20%, and every year, banking lobbyists block it,” Kiplnger’s wrote. The Credit Union Regulatory Improvements Act (CURIA) would increase member business lending limits to 20% from 12.25% of assets and allow NCUA to increase the threshold for defining a member business loan from $50,000 to $100,000.

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