U.S. Reps. Steve Stivers (R-Ohio) and Steve Chabot (R-Ohio) paid visits to credit unions this month to reiterate their support for raising the MBL cap.
Against a backdrop of a groundswell of support to expand business lending authority, one outcome is becoming an unfortunate black eye on those efforts.
NCUA says vast majority of LICUs already were below cap, same with the 1,003 offered the new opt-in.
Between March 2011 and March 2012, credit unions in Oregon and Washington grew their business lending by 9% to nearly $2.5 billion.
CU trades offer measured praise while ICBA blasts administration move as "outrageous."
Of the more than 1,000 small businesses that applied through Biz2Credit in July, loan approvals from credit unions are continuing to slow down.
Agency offers streamlined opt-in to 1,003 credit unions as part of White House drought relief package. Says move could double LICU lineup.
Community bank lobby signs up supporters opposed to raising credit union member business lending cap.
Members of the so-called “silent majority” of credit unions that oppose S. 2231, the bill that would increase the member business lending cap for credit unions, spoke out as banking lobbyists pressed the issue to lawmakers.
Nearly five years after the housing bubble burst and the financial system collapsed, politicians are still clamoring for new ways to free up capital and spark growth across the country. The most recent effort, put forth by Sen. Mark Udall, proposes to increase the lending limit of credit unions from...