Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Inside Washington (09/19/2012)
  • WASHINGTON (9/20/12)--U.S. House members voted late last week to increase the federal government's subsidy for loans backed by the U.S. Small Business Administration (SBA). The increase is needed because of higher default rates on SBA-backed loans made from 2005 to 2008 (American Banker Sept. 19). Under the stopgap measure, the House agreed to raise the SBA's federal subsidy to $333 million from $210 million appropriated for the current fiscal year, which ends Sept. 30. "The goals of our oversight changes are twofold: ensuring that our loans benefit only the small businesses for which the lending programs are intended, and protecting the taxpayer dollars that support our loan programs," SBA administrator Karen Mills told the House Small Business Committee in June. "We believe we now have the tools and structures in place to more effectively achieve both goals. But there are some obstacles that we must overcome." The challenges relate to the "stratification" of its current portfolio …


RSS





print
News Now LiveWire
#creditunions teach #college students how to handle the plastic http://t.co/SYy24PSQmn
33 minutes ago
How you might change how you bank in 2015 @Bankrate http://t.co/wRhQsyTvul
50 minutes ago
#NewsNow Ohio, Ga. video: Merchants not watching your wallet http://t.co/7jc7rECKSF
1 hour ago
What will a viking raid? Town or your wallet? http://t.co/JJYXXAGk7g @OhioCreditUnion @GCUAGov #StoptheDataBreaches http://t.co/7jc7rECKSF
2 hours ago
#creditunions face 'perfect storm' of tech changes in 2015 #NewsNow http://t.co/K2a6GZX8k5
2 hours ago