Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
L.I. editorial Include CUs small banks in bill
LONG ISLAND, N.Y. (2/9/10)--Allowing credit unions to expand their small business lending programs makes sense now that President Barack Obama has announced a program to lend community banks $30 billion, according to an editorial in the Long Island Business News. “The Credit Union National Association, which obviously supports any legislation that would expand its members’ scope, argues that the legislation would create 7,000 jobs in New York without government expenditures,” the Business News said. “The pitch as a whole makes sense, but we’ve worried that linking credit unions to small businesses while also bailing out giant banks would leave community banks in the cold. “Now, however, there is a plan to include community banks in the economic turnaround,” the publication continued. “In his State of the Union address last week, President Obama advocated a new government program that would lend community banks $30 billion. That money would then be lent to small businesses. "And once those banks are involved, allowing credit unions to expand their business-loan programs would be a lot less offensive,” the Business News concluded. U.S. Sen. Kirsten Gillibrand (D-N.Y.) wrote an op-ed piece in the Jan. 29 issue of the Business News and explained why she backs member business lending (MBL) at credit unions. She co-sponsors a bill that would raise credit unions’ MBL cap and increase the loan amount that would trigger the cap (News Now Feb. 1). To read the editorial and the News Now article, use the links:
Other Resources

RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
3 hours ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
4 hours ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
6 hours ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
7 hours ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
7 hours ago