Former Treasury Secretary John Snow endorsed raising the cap on credit union business and commercial lending and told attendees at PSCU's 2010 Member Forum that he hoped credit union efforts to raise it would succeed.
|"I hope your efforts [to raise the cap] prevail," Snow told the attendees, recounting how as Treasury Secretary under the George W. Bush Administration he drew the ire of banking groups by not backing an effort to tax credit unions.
|"When you tax something, you have less of it, and we need more credit union activity, not less," Snow said, amplifying his previous observations that credit unions have money to lend and "we need lending in this country."
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? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
