Possible Legislation That Increases Current Cap On Credit-Union Lending

Important article for small business lending. We will be looking closely at this struggle and what is in the best interests of small business.

According to Emily Maltby of The Wall Street Journal, “Credit-union lobbying groups in Washington are pushing for legislation that would lift a 12-year-old law that curtails credit-union lending to 12.25% of total assets.

“Raising the cap to 25% and easing other restrictions would allow credit unions—important sources of financing for many small operations—to extend up to $10 billion in additional business loans in the first year the cap is lifted, according to the Credit Union National Association in Washington.”

To read the complete article go to: Credit Unions Fight Cap Law