WASHINGTON — Credit unions would be eligible to sell theirdistressed loans or mortgaged-backed securities to the government,under the current version of the $700 billion bailout plan unveiledby the Treasury Department and currently pending in Congress.
The provision, which was supported by the NCUA and the tradeassociations, is part of a bill that congressional leaders hope topass by the end of the week.
CUNA President Dan Mica and NAFCU President Fred Becker bothissued statements on Saturday praising the inclusion of creditunions but said the measure could change as it moved through theprocess.
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