CUNA Chief Economist Bill Hampel has responded to a Fitch Wire article critical of raising the credit union member business lending cap that read like it came straight off a banker lobbyist talking points list.
The April 13 article by Fitch Senior Directors Kellie Geressy-Nilsen and Joseph Scott sourced bank lobbyists, saying they "disagree that loans are hard to come by" and that "banking trade groups argue that credit unions do very little business lending."
The article even took a shot at credit unions' tax-exempt status. "Banks clearly don't enjoy" the same advantage, and added that "banks and credit unions are also subject to different regulators and government rules."
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