First regulators put the squeeze to your credit unions and now the squeeze is on credit union executives.
Now comes the hard part. Former New York Governor Mario Cuomo famously said that “you campaign in poetry and govern in prose.”
Here we go again. Saying that it would “expand the options for small businesses at no expense to taxpayers,” Sen. Mark Udall (D-Colo.) last week reintroduced a measure to raise the cap on member business lending from 12.25% of assets to as much as 27.5% of assets.
CUNA and NAFCU are urging more senators to sign on as co-sponsors of Sen. Mark Udall’s bill to raise the cap on member business lending.
Sen. Mark Udall (D-Colo.) introduced a bill to raise the cap on member business loans from 12.25% of assets to 27.5%.
The continued push to raise the member business lending cap for credit unions in light of banks scaling back aid is the focus of an article in the Wall Street Journal.
WASHINGTON — House Speaker John Boehner promised that the House will work hard to ease the regulatory burden so credit unions can lend more money and businesses can create new jobs.
WASHINGTON — Saying that it is a “no brainer,” Sen. Mark Udall announced today he would renew his push for legislation to raise the cap on member business loans.
NCUA Chairman Debbie Matz renewed her call for supplemental capital for credit unions in a letter to the Senate Banking and House Financial Services Committees.
Credit unions will have to wait until next year to expand member business lending following yesterday's unsuccessful effort by Sen. Mark Udall to bring up the legislation in the waning days of the lame duck Congress.