Credit Unions Make Pitch at Congressional Bank Hearing Posted by AVCU on 3:37 PM

As reported by Credit Union Times, credit unions testified in opposition to federal legislation this week that would ease regulatory burden for banks if it doesn't contain an increase in the business lending cap for the nation's credit unions as well. Chief executives of both CUNA and NAFCU addressed the demand by small business for credit unions to provide more business lending. Banking representatives were steadfastly opposed to an increase in credit union business lending authority, suggesting they should either be taxed or convert to bank charters.