Credit Unions, Banks Renew Fight Over Lending Cap Bill

Law360, New York (November 30, 2012, 7:37 PM EST) -- The U.S. Senate is poised to vote on a bill that would nearly double credit unions' ability to make small business loans, reigniting a brawl on Capitol Hill over whether lifting the current cap would allow credit unions to use their tax-exempt status to undercut small banks in the tight lending market.

Credit union and small bank lobbyists descended on Capitol Hill in the week following Thanksgiving to push senators on the Small Business Lending Enhancement Act, S. 509. The Senate is expected to vote on...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.