Udall Makes Another Plea on MBLs
"We all know the national associations for banks and credit unions regularly snipe at each other. It's like the Hatfields and McCoys, but this is not a bank or credit union issue. This is a small business issue," Udall (D-Colo.) said during a floor speech, in support of his amendment to raise the cap on MBLs from 12.35% of assets to as much as 27.5% of assets.
Udall and the credit union trade associations are seeking to get enough support for the amendment to get it attached to the small business lending bill that the Senate is expected to resume considering this week.
He urged his colleagues to "avoid the associational infighting that would have us believe that this is about banks or about credit unions-because this truly is about small businesses."