In a video pitch for 250,000 community bank employees to call members of Congress, Camden Fine claims that credit union business lending is bad for communities and bad for bank customers. Fine is President of the Independent Community Bankers Association. Defeat of the credit union MBL bill, S.2231, is the main purpose of community banker visits to Capitol Hill this week. Statistically, however, bankers hold 95% of small business lending in the U.S. Even if every credit union loaned every dollar available upon passage of S.2231, bankers would still hold about 90% of all small business lending.
Don't let bankers decide whether your credit union should do business lending! If S.2231 fails, that's what will happen. Call 1-877-642-4223 or send email to Vermont's congressional delegation urging them to let credit unions assist small businesses at no taxpayer expense.
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