MBL Cap Lift Should Not Be A 'Turf War'
Being able to provide small businesses with the capital they need to create jobs and lift up the nation's economy should supersede any "turf" banks are trying to guard, said Texas Credit Union League Chief Advocacy Officer Buddy Gill.
"The key thing is this should be about small businesses. Period. The best chance to pass this [12.25% MBL cap lift] is to make sure small businesses are out front telling their stories," Gill said.
Credit unions should not "fall into the trap" of making the issue about them against banks, Gill urged. The industry's track record speaks for itself with fewer chargeoffs and the growing number of stories about small business owners being turned down by banks for refinancing or extended lines of credit. Many of them are finding relief at CUs after their long-time banks gave them the cold shoulder.
Gill said the Texas league, like many others, has been out front encouraging small businesses to speak to their legislators particularly those in the Senate.
"This is about helping small businesses and getting them the capital they need."