Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Gillibrand Pushes For Increased Credit Union Lending To Small Businesses

Wednesday, December 5, 2012 - 12:44 PM

The New York Democrat is backing the Small Business Lending Enhancement Act, a bipartisan bill to lift restrictions on credit unions, allowing them to more than double their small-business lending. She said the act would create more than $9.4 million in additional business lending in Western New York in one year.

But the banking industry is lining up against the idea. Banks have long complained that the nonprofit, member-owned credit unions have a competitive advantage over them, because credit unions don’t pay taxes but still compete for many of the same customers as banks.

Gillibrand pushes for increased credit union lending to small businesses - Business - The Buffalo News

StewieStewie56 posts since
Jan 18, 2010
Rep Points: 318