Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Texas newspaper editorial Raise CUs MBL cap
ODESSA, Texas (4/11/08)--Congress should pass HR 1537--the Credit Union Regulatory Improvements Act--and raise credit unions’ member business lending caps, according to an editorial in a Texas newspaper. The Odessa American (April 9) said that raising the cap for credit unions from 12.25% of total assets to 20% makes sense. “Common sense would say that caps on credit union business loans should not exist if banks are free of such restrictions,” the newspaper stated. “But raising the limit is the best option for the benefit of free enterprise at this point. “Raising the cap would, according to estimates, open up another $875 million in business lending just from the approximately 20% of Texas credit unions that offer business loans” the paper continued. “And the raised limit might encourage other credit unions to get into business lending.” The editorial concludes that it is time for Congress to relieve stifling regulations imposed on credit unions for the past 10 years, and encourage and reward business entrepreneurship, which it says has been a source of pride and accomplishment throughout the history of the U.S. This is the first time that the editorial board of the newspaper has published an editorial supporting credit unions that has not been an opinion/editorial piece from the Texas Credit Union League, said Winter Prosapio, league advocacy-communications director.
Other Resources

RSS





print
News Now LiveWire
Data breach fatigue? No wonder: 45% of Americans said they had received breach notification from retailer/card-issuer http://t.co/gRIuZanUNQ
1 hours ago
Season's greetings from playlists to cookies #NewsNow http://t.co/5gu8nrCoyL
1 hours ago
Panelists decrypt payment trends for #creditunion leaders http://t.co/rXvI63w1sU
1 hours ago
tax status preservation, reg relief among @CUNA successes in 113th Congress #NewsNow http://t.co/fWhzXoT5kK
2 hours ago
16.9% of U.S. homeowners underwater, down from peak 31.4% in 2012, reports @zillow http://t.co/EbILqY1HMz
18 hours ago