Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA witness to testify on small business lending
WASHINGTON (2/24/10)--St. Mary's Bank CU President/CEO Ronald Covey, who is testifying on behalf of the Credit Union National Association (CUNA), will be among those discussing the condition of small business and commercial real estate lending before members of the House Financial Services Committee and Small Business Committee on Friday. Treasury Assistant Secretary for Financial Stability Herbert Allison, U.S. Small Business Administrator Karen Mills, Federal Reserve Governor Elizabeth Duke, Federal Deposit Insurance Corporation Chair Sheila Bair, Comptroller of the Currency John Dugan, and Office of Thrift Supervision Director John Bowman will also testify in a separate panel. Other industry representatives and leaders will also testify dring the hearing. Small business lending will be one of the many issues highlighted by credit unions and credit union leagues as they hike Capitol Hill to meet with their state representatives this week. CUNA and credit unions have called on Congress to expand credit unions' ability to work with small businesses by lifting the current member business lending cap of 12.25% to 25% of a credit union's assets. The House Financial Committee is also scheduled to hear Federal Reserve Chairman Ben Bernanke's Semiannual Monetary Policy Report later today, and will discuss finance industry compensation during a Thursday hearing.


RSS print
News Now LiveWire
#NewsNow No stretch for CU to loan to fledgling yoga studio http://t.co/4ryQisBtW1
49 minutes ago
.@CUNA's Pierce: Every dollar a CU spends on complying with a regulation is a dollar that is not spent to the benefit of its membership.
54 minutes ago
(2of2)...that incentive structure for CUs and banks is quite different, and regulatory structure should reflect those differences."
55 minutes ago
Pierce: When considering reg burden as it relates to consumer financial protection, it is critical that policymakers understand...(1of2)
56 minutes ago
.@CUNA's Pierce: "Without meaningful relief, consolidation in CU sector will continue."
1 hours ago