I think the committee has rightly and properly said, we want to keep credit unions focused in the area where they have traditionally been focused, providing the service they have traditionally provided. We are going to allow some commercial lending because they have gotten into that area. But there is empirical evidence that credit unions can get in trouble with their commercial lending. We want to take advantage of that evidence and put a limit on it.
Bill Bennett: “I think the committee has rightly and properly said, we want to keep credit unions focused in the area where they have…”
Editor's note · Context
Discussing limits on commercial lending by credit unions during Senate floor debate.
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