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
NCUAs Matz backs small biz MBL cap lift
ALEXANDRIA, Va. (6/1/10)--National Credit Union Administration (NCUA) Chairman Debbie Matz, marking the end of National Small Business Week on Friday, praised small businesses as vital contributors to job creation and again spoke in favor of increasing the current cap on credit union member business lending (MBL). “An enhanced ability for credit unions to lend for business purposes – if properly regulated, with appropriate safeguards – can become an even greater spur to job creation in the future,” Matz said, adding that the NCUA would “promptly revise” its regulation “to ensure that additional capacity in the credit union system would not result in unintended safety and soundness concerns” if the MBL cap was lifted. The Treasury last week sent its own proposed legislation that could lift the MBL cap to as high as 27.5% of a credit union’s assets, and Rep. Barney Frank (D-Mass.), who chairs the House Financial Services Committee, recently said that his committee would soon hold a hearing on MBLs. The Credit Union National Association has steadfastly supported lifting the MBL cap, saying that increasing the current 12.25% of assets loan ceiling to 25% would inject over $10 billion in assets into the economy, creating as many as 100,000 new jobs.


RSS





print
News Now LiveWire
Jobless claims drop to lowest level since 2000 http://t.co/ywyVpWJT1x @USDOL #unemployment #workforce #labor
8 minutes ago
Wanted: 12 young writers for @CUNA's youth fin ed resource #Googolplex #NewsNow http://t.co/cwR9ph3BvJ
21 minutes ago
Registration now open for @CUNA @WOCCU summer conference in Denver July 12-15 http://t.co/opq1jypsXL #ACUC #CUinDenver2015
16 hours ago
Emergency loans post- #Blizzard2015 offered by @ScientFCU in Conn. http://t.co/U9tIBzPOZV
17 hours ago
Did you get your spot in the @CUCB #CherryBlossom 10 Mile Run? Check lottery results here http://t.co/6rxT0osyWJ @CU4Kids @CMNHospitals
17 hours ago