DENVER—U.S. Sen. Michael Bennet is urging Federal Reserve Chairman Ben Bernanke to develop ways to determine how federal regulators and banks are making sure credit is available to small businesses struggling with the financial crisis.
Bennet told Bernanke during a Senate Banking Committee hearing Thursday that Colorado businesses say they are maxing out credit cards because they can’t get loans. The Colorado Democrat asked Bernanke if there’s a way to determine whether banks are balking at bad risks, don’t have support from regulators or aren’t following federal officials’ direction.
Bernanke said he would talk to his staff about coming up with useful measurements. The Senate is considering his nomination to a second term as Fed chairman.
