More Business Lending Would Challenge Credit...

More Business Lending Would Challenge Credit Unions

More Business Lending Would Challenge Credit Unions

Fitch Ratings announced on Friday that it opposes legislation in Congress that would raise credit unions member business lending from the current limit of 12.25% to 27.5%.  Fitch said that limited experience and lack of infrastructure would be a challenge for credit unions particularly smaller credit unions with limited resources.  They also noted that credit unions enjoy tax exempt status and are also subject to different rules and regulators than banks.