Credit Unions, Banks Battle Over Small Biz Lending Cap

Law360, New York (March 6, 2012, 3:53 PM EST) -- Credit unions on Tuesday again urged lawmakers in Washington to include a bill that would allow credit unions to more than double their small business lending in legislation aimed at spurring jobs, asking Congress to ignore the banking industry's fierce objections.

Both the Credit Union National Association and the National Association of Federal Credit Unions asked members of both chambers of Congress to include legislation that would allow credit unions to make loans to small businesses equal to 27.5 percent of their assets. Federal law currently...
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