NAFCU reminded credit unions they should contact both senators and U.S. House representatives over the congressional break to gather support for increasing the member business lending cap.
The combination of election-year politics and the desire of lawmakers not to have to choose between credit unions and community bankers have helped erect a series of roadblocks to raising the cap on member business lending.
The NCUA plans no discussion or action "at this time," on the agency report issued this week that supported the idea of secondary capital for credit unions, NCUA Chairman Debbie Matz said.
WASHINGTON -- For credit unions, Senate Banking Committee Chairman Christopher Dodd's proposed regulatory overhaul is both the best of bills and the worst of bills.
Though credit unions aren't directly involved in the health care debate, due to some parliamentary maneuvering they are likely to lose the ability to offer certain student loans.
Preemption of state laws and exempting more credit unions from examination by the new consumer regulator are key priorities of the credit union trade associations as a Senate panel begins marking up regulatory restructuring this afternoon.
After months of bipartisan bashing of the Federal Reserve's actions during the recession,
While credit union representatives each had their five minutes of fame at the House Financial Services and Small Business Committees' hearing on business lending, that was about all the attention they received.