Regulators, Obama emphasize importance of small-business loans

02/8/2010 | Wall Street Journal, The · Reuters · Bloomberg Businessweek

Federal regulators on Friday urged banks to ease up on lending to small businesses as the president called on Congress to support his plan to use $30 billion in bank-bailout funds for small-business loans and tax credits for hiring new workers. The Federal Reserve, FDIC and other regulators issued a joint statement saying they were concerned lenders are tightening their standards in response to the financial crisis.

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