Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (01/19/2010)
*WASHINGTON (1/20/10)-- While Congress was in recess last week, U.S. Senate Minority Whip Jon Kyl, of Arizona, met with seven credit union leaders from his state and spent more than 45 minutes discussing the Senate version of a member business lending (MBL) bill, The Small Business Lending Enhancement Act (S. 2919.) That bill proposes to increase the MBL cap to 25% of a credit union’s assets. The credit union representatives stressed to Kyl and his staff that the current cap represents an unnecessary restriction on lending and is forcing credit unions to turn down small businesses seeking credit. They explained that even credit unions that aren’t hitting the cap feel pushed to "cherry-pick" loans because the cap doesn't allow them to diversify their portfolios to meet the needs of their membership as a whole. Austin De Bey, of the Arizona Credit Union League, reported from the meeting, “One credit union held that they aren't near the cap yet, but the request for loans has increased so much because banks are referring them to credit unions, that they would reach the cap very soon if the rate of new loan request continued”... * WASHINGTON (1/20/10)—On Jan. 29, at the Federal Deposit Insurance Corp.’s conference on interest rate risk, Federal Reserve Board Vice Chairman Donald Kohn will be a featured speaker. The symposium is being conducted to address topics associated with banks' potential exposure to an expected rise in short-term interest rates this year. (American Banker Jan. 19) Specific topics are to include interest-rate risk management strategies at banks of all asset sizes, how extending maturities on liabilities might mitigate risk, and also the FDIC’s supervisory view on banks' management of interest rate risk...


RSS





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