Business loans aren't for everybody, according to the top regulator of Texas credit unions.
The collapse two weeks ago of the $1.6 billion Texans Credit Union tied to faulty, CUSO-linked commercial lending shows that "business loans are not for everyone and that no matter how much advance planning, the risk of making mistakes" can be costly, said Harold Feeney, commission of the Texas Credit Union Department.
Commenting on NCUA's April 15 conservatorship of the suburban Dallas CU, Feeney said Monday that "mistakes are made when corners are cut" and that apparently figured in Texans' failure.
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