Community Bankers Association of Illinois

Action Alert! Oppose the Udall Credit Union Business Loan Cap Change Amendment
July 14, 2010

CBAI is calling on community banks to urge Illinois' Senator Richard Durbin and Roland Burris to oppose the Sen. Mark Udall (D-CO) Amendment that would raise the credit union business lending cap and increase the size of loans exempt from the cap. The amendment offered yesterday afternoon to the CBAI-backed $30B Small Business Lending Fund would raise the cap on credit union member business loans from 12.25% to 27.5%. Expanding credit union commercial lending powers would do more to promote the interests of the large, multi-bond credit unions than reduce joblessness and create new employment opportunities. Passage of this amendment would amount to an unfair and counterproductive power grab by taxpayer-subsidized credit unions.

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If you have any questions regarding this email please contact Kraig Lounsberry at 800/736-2224 or David Schroeder at 847/909-8341.

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