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
Credit card issuers could see a reduced burden for 1 year under a @CFPB proposal issued this week. News Now: http://t.co/CYVXLUmVBq
8 hours ago
RT @CUEscan: Branches Will Be the Cornerstone of Growth http://t.co/fVqPPaGeVL http://t.co/xxMyKGQMrl
8 hours ago
RT @asmarterchoice: According to @Bankrate study, customers more likely to find FREE checking at #Creditunion than a bank! http://t.co/ntCb…
9 hours ago
Ditch monthly subscriptions to save $$, @YoungFreeMI Fielder tells @freep http://t.co/TFnsps4Dui #ASW2015
9 hours ago
.@federalreserve extends comment period for capital surcharges on systemically important U.S. bank holding cos. http://t.co/MOJJBn9DfA
10 hours ago