N.M. Rep.: MBL Increase 'Smart Approach'
Reiterating his support to the Credit Union Association of New Mexico, U.S. Rep. Martin Heinrich (D-N.M.), a co-sponsor of H.R. 3880 legislation to raise the member business lending cap, said the change makes fiscal sense for small businesses.
"We've got to take a smart approach to regulation that goes after what the problems are. We shouldn't blame or hold accountable credit unions and community banks for some of the problems Wall Street banks created," Heinrich said. "We need to come up with policies that treat small community institutions differently than national institutions. That is the smart and correct approach to regulation."