Washington Post Notes CUNA Ire re: Obama Plan Posted by AVCU on 11:41 AM

The "Washington People" column in yesterday's American Banker newspaper notes the heat and intensity of CUNA's reaction to the Obama small business lending plan. That should gain the credit union position additional notice in Washington.

The article "Warm and Hot" addresses reactions to President Obama's plan to give Troubled Asset Relief Program money to community banks to spur small-business lending. It cites that the Credit Union National Association "went for the jugular," saying it was "outraged and baffled" that the administration's plan did not help credit unions engage in more business lending. "Credit unions can inject more than $10 billion into the economy," CUNA Chief Executive Dan Mica said in a statement. "But the administration overlooked — or snubbed — the opportunity."