Search
 

Trades Urge Senators to Raise Cap on Member Business Loans

As senators prepare a jobs-creation package that CUNA and NAFCU hope will include an increase in the MBL cap, the trades yesterday wrote letters reiterating their support for the measure.

By Claude R. Marx | Updated on January 19, 2010

As senators prepare a jobs-creation package that CUNA and NAFCU hope will include an increase in the MBL cap, the trades yesterday wrote letters reiterating their support for the measure and criticized what NAFCU called the “shameless opposition” of the banking industry.

NAFCU Executive Vice President B. Dan Berger wrote lawmakers that raising the cap would be “an important step in the recovery of the small business community and the overall economy.” He cited a 2001 Treasury Department study, which concluded that credit union business lending didn’t negatively impact the profitability of other insured depository institutions and that credit union business loans are less risky than similar loans made by commercial banks.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

So You Bought a Bank. Now What?

So You Bought a Bank. Now What?

Mike Horrocks |

Baker Hill presents a guide to post-bank acquisition commercial lending risk for credit unions.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.