A few weeks ago U.S. regulators approved an initial rule for the government to seize and dismantle large, troubled financial firms, including a stipulation that, in limited cases, could allow other creditors to get more favorable treatment. The Federal Deposit Insurance Corporation (FDIC), an institution created in the 1933 Great Depression to rest...
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In any company, an aggressive business strategy can generate an uptick in revenue, but at what cost? In the finance industry, aggressive subprime lending came at the cost of the now failed housing market. You may be surprised to know (or maybe not) that many borrowers whose credit scores qualified them for more conventional loans were pushed ...
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Credit unions operate like banks in many ways and offer similar consumer services offered by banks. However, less than one-third of credit unions make business loans and not all credit unions offer business services such as business checking accounts or merchant account services.
Currently, credit unions' small business lending is limited to 12.25 ...
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The new Small Business bill contains an amendment that would more than double the business lending cap from 12.25% of total assets to 27.5% for Credit Unions. While Credit Unions officials continue to lobby Congress for this raising of the cap on the small-business loans, this new proposal has angered community bankers across the country. Why...
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