Several lawmakers question small-business loan plan

10/1/2010 | IdahoReporter.com

The Small Business Lending Fund recently signed by President Barack Obama has drawn opposition from several legislators in Congress. The bill, which allocates $30 billion for banks looking to offer loans to small businesses over the next decade, "allows banks to convert [Troubled Asset Relief Program] money into this new program and escape the restrictions and oversight that Republicans insisted be included in TARP," said Rep. Mike Simpson, R-Idaho.

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