The Wisconsin Credit Union League continues to criticize the banking industry's use of the Small Business Lending Fund for what it claims is misuse.
At issue is $30 billion approved by Congress in 2010 for U.S. banks in an effort to get credit flowing to struggling small businesses. To date, the fund has distributed $4 billion, according to the U.S. Treasury Department, which oversees the program.
The Wisconsin league has joined a growing number of critics of the loan fund saying the money is not being funneled to small businesses but is actually being used by banks in to repay debt acquired through the Troubled Assets Relief Program.
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