ANLA joined 26 other mostly small business coalitions and associations in calling on Congress to embrace H.R.4293, the “Restore Main Street’s Credit Act of 2012.” RESTORE, introduced by Rep. Kurt Schrader (D-OR) on March 28. The RESTORE Act would exempt brick and mortar businesses with 20 or fewer full-time employees from having their loans count against the business lending cap placed on credit unions. It also would require the National Credit Union Administration to issue guidelines for an appropriate amount of lending to credit worthy businesses while ensuring for safety and soundness of those institutions. Supporters believe that these law changes, while modest, would bring some relief to businesses affected by the credit crunch without costing taxpayers. To view a copy of the letter sent to Congress, click
here. To send a letter urging your elected representatives to cosponsor the measure, click
here.
