Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – Small business owners in Colorado and Georgia will have more of an early say on how proposed state regulations may affect them. On April 4, Colorado Gov. Bill Owens extended relief for the state’s more than 493,000 small businesses by signing into law HB 06-1041. The new law continues the requirement that state agencies prepare a cost-benefit analysis of proposed rules that may affect small businesses when requested by the Colorado Department of Regulatory Agencies. In Georgia, Gov. Sonny Perdue signed an executive order in March to help the state’s more than 722,000 small businesses have a voice in the state’s regulatory process. As in Georgia, most states’ regulatory flexibility laws include requirements that states’ agencies perform an economic analysis before they regulate and consider less burdensome alternatives for small businesses. Colorado credit unions did $283.7 million worth of business loans in 2004, the last year data was collected by CUNA. Georgia’s credit unions did $70.4 million that year. Each credit union still had roughly 1% or less of the business lending market share compared to banks. Banks easily dominated having $25.3 billion in business loans in Colorado and $130 billion in Georgia. Eleven states have introduced similar legislation this year for small business regulatory relief, according to the SBA. Thirteen states and Puerto Rico currently have “active” statutes in place while 29 states have “partially” used statutes.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.