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NAFCU Reiterates Support for Use of TARP Funds to Buy Bad Assets

WASHINGTON - NAFCU today again urged lawmakers to use some of the money set aside to help troubled financial institutions to buy bad mortgages.

By Claude R. Marx | Updated on January 12, 2009

WASHINGTON – NAFCU today again urged lawmakers to use some of the money set aside to help troubled financial institutions to buy bad mortgages.

“NAFCU strongly urges the 111th Congress and the incoming Obama Administration to uphold this mandate set forth in the Emergency Economic Stabilization Act by allocating funding to the purchase of mortgage-related troubled assets just as funding being allocated to the CPP. Doing so would not only help credit unions, but also help bring TARP relief to Main Street and not just Wall Street,” NAFCU Senior Vice President, Government Affairs B. Dan Berger wrote members of the House Financial Services Committee.

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