The ABA opposes rules relaxing loans that can be made by credit union. On what grounds, you ask?
“We strongly urge Congress and the Administration to oppose this proposal,” the groups wrote. “Business lending is vital to economic recovery and growth, but business lending must be done by skilled lenders that have the experience and expertise to do so in a safe manner and with sound supervision.”
ROTFL!! Maybe they hired a bunch of talented people in the past couple of years to replace the unskilled lenders that made predatory loans.
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