Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Wis. league Economy would gain speed with MBL cap lift
PEWAUKEE, Wis. (8/3/11)--If Congress were to raise credit unions’ member business lending (MBL) cap, that would hasten the U.S economic recovery, the Wisconsin Credit Union League told Corporate Report Wisconsin magazine (August). Economic recovery--at least in business lending--could gain some speed if credit unions were allowed a larger share of the business loan market, Tom Liebe, league vice president of government affairs, told the publication. “The real losers today are Main Street businesses, not because credit unions can’t make the loans, but because Congress established that cap in 1990,” Liebe told the magazine. “Credit unions have money to lend, and our commercial lending has increased each of the last three years. But Wisconsin credit unions are turning small businesses away when they’d otherwise make the loan because of that arbitrary cap.” To read the article, use the link. The Credit Union National Association (CUNA) and credit unions are pressing Congress to increase credit unions’ MBL cap to 27.5% of assets from 12.25%. Doing so would open up more opportunity to offer MBLs, inject $13 billion in loans into the economy and create as many as 140,000 new jobs, with no cost to taxpayers, CUNA said.
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
13 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
14 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
16 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
18 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
18 hours ago