WASHINGTON — On a day when lawmakers are looking at problems caused by other sectors of the financial services industry, NAFCU is reminding them of the benefits of regulatory relief for credit unions.
In a letter to members of the House Financial Services Committee, NAFCU President Fred Becker urged the lawmakers to raise the cap on member business loans from 12.25% to 20% of a credit union's assets and to enact a risk-based capital system.
He said those changes would help credit unions make up for some of the loss of capital in the economy as a result of the reluctance of some banks to lend money.
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