ICBA, ABA Urge Opposition to Power Credit Union grave | Business ...

(Press box) 18 July 2012

Independent Community Bankers of America (ICBA) and the American Bankers Association (ABA) for all U.S. senators, legislation that would extend those tax-exempt savings banks continue lending to the business processes to oppose it. A joint letter to lawmakers wrote that the unions that the law to raise the cooperative business lending cap (p. 2231) and even harmful in disputed credit unions.

legislation would only benefit a select few savings to harm, while the taxpayer to the banks, associations wrote. Community banks are based on the fertile small business lenders, and have stood by their subscribers in these difficult economic times. They will help to strengthen the Small Business Lending boom and the demand is expanding, and they pay federal support to states and local taxes to municipalities.

S. 2231 more than doubled the congressionally imposed limits on credit union business lending authority, the obsession with the growth of savings banks, to use the tax breaks and get the loan, the taxpayers, community banks like to make in their communities. This will reduce the funding of federal revenue tax-paid credit unions over taxpayers to the banks.

expansion of corporate borrowing authority, tax-exempt savings would also increase the risks to the financial system. Government Accountability Office reported in January, failed credit cooperatives were more member of the Company?s capital stock of loans to assets than other sectors.

credit unions are also concerned about the extended push-to-business lending his authority. In April, a number of credit union leaders expressed their opposition to this legislation. They wrote that the failure of several large financial savings was due to too much credit, the industry for the expanded business lending authority and that the silent majority of the savings banks do not want and do not need to prepare S. 2231.

For more information about ICBA, and http://www.icba.org read together with the ICBA / ABA letter.

About ICBA

Independent Community Bankers of
America?, people vote more than 7,000 community banks of all sizes and types of charter, is directed exclusively to representatives of the banking industry and its membership effective advocacy, best-in-class education and quality of products and services. For more information, visit http://www.icba.org.

credit ? grave ? ICBA ? Opposition ? power ? Union ? Urge

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