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Washington
Inside Washington (02/18/2009)
* WASHINGTON (2/19/09)--Strict limits on financial executives’ pay could harm credit unions, small and regional banks, and savings and loans, White House press secretary Robert Gibbs said Sunday (The Washington Times Feb. 16). The Obama administration is seeking to revise a provision in a $787 billion economic stimulus package signed Tuesday that would further limit executive compensation. Under the proposal, financial institutions that receive bailout money from the Troubled Asset Relief Program (TARP) would not be able to pay top executives more than $500,000 until TARP funds are repaid ... * WASHINGTON (2/19/09)--Provisions in an $787 billion economic stimulus package signed into law Tuesday aim to increase Small Business Administration (SBA) lending, but guidance that is set to take place on March 1--a $250,000 limit on the goodwill value--could squash those intentions. Industry observers worry that the goodwill limit could actually discourage SBA lending. The agency is re-evaluating the guidance and could issue a revised version before next month, said Jim Hammersley, SBA loan division director (American Banker Feb. 18). Other provisions in the stimulus affecting the SBA include $69 million to expand staff and marketing, and improve lender oversight, and an increase on SBA loan guarantees to 90% from 85% ... * WASHINGTON (2/19/09)--The National Association of State Credit Union Supervisors (NASCUS) leadership will travel to Washington, D.C., next week for business and credit union system group meetings during the Credit Union National Association’s (CUNA) Government Affairs Conference (GAC). The NASCUS board of directors and Credit Union Executive Council will meet Monday and Tuesday. NASCUS committees will meet Tuesday. NASCUS leadership also is scheduled to meet with congressional leaders and credit union system groups during the GAC. Meetings are also planned for the NASCUS regulator leadership and the National Credit Union Administration ...


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