Senate Doesn't Include MBL Cap
Credit unions received some discouraging news on Capitol Hill last week when the draft version of a Senate jobs creation bill didn't include a provision to raise the cap on member business lending.
It's the second setback on the issue during a two-week period. President Obama failed to mention the issue in the portion of his State of the Union address that focused on job creation, and his proposal to make money available to community banks to increase business lending does not include credit unions. Lobbyists for CUNA and NAFCU hope the MBL provisions will be added later.