WASHINGTON, D.C. – A vice president of The Heartland Institute, a free-market think tank, today said he believes strongly in the ideas behind legislation that would make it easier for credit unions to lend more money to their members.
The measure, The Small Business Lending Enhancement Act, is proffered by Rep. Ed Royce (R-CA) in the House of Representatives. If passed, the bill would relax a cap that Congress in 1998 placed on lending by credit unions – democratically governed institutions that provide depository and lending services. The following statement may be used for attribution.
“This is exactly the type of policy that conservatives should be supporting. Nearly all small businesses have trouble accessing credit, and Congress needs to do everything it can to assure that regulatory barriers don’t make an already-difficult situation worse.
“Moving forward with credit union lending reforms ranks among the most important actions Congress could take to return the economy to full employment and robust economic growth.”
The Heartland Institute is a 28-year-old national nonprofit organization with offices in Chicago, Illinois; Washington, DC; Austin, Texas; Tallahassee, Florida; and Columbus, Ohio. Its mission is to discover, develop, and promote free-market solutions to social and economic problems. For more information, visit our Web site or call 312/377-4000.