Credit unions could make more loans if the Small Business Administration streamlines its loan approval and evaluation processes and Congress raises the cap on member business loans, Corning FCU President/CEO Gary Grinnell told a House panel.
Corning FCU CEO testifies on the Hill for the second time this month.
League president says four Missouri CUs are at or near their cap, says raising cap to 27.5% would generate 1,676 jobs in his state.
Randolph-Brooks FCU EVP/chief lending officer Mark Sekula tells House subcommitee that credit unions don't deserve to use "broad brush."
Thursday morning House hearing focusing on financial reform's impact on business lending; set for same time as Senate MBL hearing.