WASHINGTON — Credit unions told their congressmen Wednesday that raising the member business lending cap will spur job growth.
Senate Majority Leader Reid said he'll continue work to see bill to raise cap brought before chamber.
To help promote increasing business lending access, Minnesota credit union representatives traveled to Washington, D.C., for a Hike the Hill event.
The House Financial Services Committee plans to vote this week on several bills it says will spur job creation and ease the regulatory burden.
CUNA letter cites survey showing that 60% of small businesses cite lack of credit as a serious problem; NAFCU says 12.25% cap hinders local lenders.
Employers added 120,000 jobs last month and the unemployment rate dropped slightly to 8.6%, the Labor Department reported Friday.
Now comes the hard part. As tumultuous as the House subcommittee hearing on raising the cap on member business lending was, the really difficult battle will take place in the months ahead.
WASHINGTON — While the topic was ostensibly a bill to raise the cap on credit union member business lending, credit unions and banks sparred over a range of subjects at an Oct. 12 House subcommittee hearing.
The Wisconsin Bankers Association says most of the state’s credit unions are not near their respective member business lending caps.
House subcommittee hears both sides of debate over raising the member business lending cap for credit unions.