For the past few years, advocates have continued to push for increasing the member business lending cap, and 2011 saw more of the same efforts.
The latest appeal came from NAFCU President/CEO Fred Becker, who penned another letter to President Obama asking that the current 12.25% of assets be increased to 27.5%.
"Unfortunately, due to the outdated member business lending cap, the ability of credit unions to assist their members and local small businesses is unnecessarily hindered," Becker wrote in a Dec. 7 letter. "In keeping with your request for policymakers to present job creation measures that won't impose a burden on taxpayers, increasing the member business lending cap would not cost the American taxpayer a single dime."
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