Small business lending

The democratic nominee has supported regulatory relief and small business lending for CUs

Trade group will work with U.S. Small Business Administration to expand accessibility of SBA products to credit unions.

The agency has earmarked all funds from a Hurricane Harvey recovery package for direct relief, despite calls to get more bankers involved in the process. It remains to be seen how the agency will handle the cleanup for Hurricane Irma.

It’s highly debatable whether the artificial intelligence engines that online lenders typically use, and that banks are just starting to deploy, are capable of making credit decisions without inadvertent prejudices.

Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.

Karen Mills, former head of the Small Business Administration, says the glut of online lenders could help entrepreneurs obtain funds quickly.

The agency has a relatively new program designed to quickly get funds into disaster-stricken areas. The problem is that many bankers don't know it exists.

The designation allows the $1 billion credit union to process SBA loans within 36 hours and to approve them without sending them to the agency first.

Federal Reserve Chair Janet Yellen defended post-crisis reforms but allowed that further adjustments may be necessary to reduce adverse effects on small businesses and subprime borrowers.

Readers weigh in on a proposal to ease the leverage ratio, how post-crisis regulations have influenced lending, a CFPB overdraft fee study, and more.