Wednesday, April 25, 2012 10:21:00 AM
American Banker this week published on its Web site the results of a poll entitled “Should CUs Be Permitted to Expand Small-Business Lending?”
Given the strong banker opposition to legislation that would raise the credit union member business lending (MBL) cap, results of the poll question are a bit surprising, with 28% of respondents in favor of the lift and 17% unsure but in favor “as long as credit unions are required to hold plenty of capital to cover losses”.
Of respondents, 55% voted against the lift, agreeing with the claim that as tax-exempt institutions, credit unions should stay focused on individuals.
The results of the poll are available by clicking here.