For the second time this month, Connecticut credit union representatives have met with Rep. Jim Himes (D-Conn.) to discuss the proposed member business lending cap.
Himes met with Kathy Chartier, board chair of the Credit Union League of Connecticut at the $29 million Members Credit Union in Stamford, Conn., where she serves as CEO. They discussed the current status of the cap proposal and other issues moving through Congress. Also in attendance were League President/CEO Tony Emerson, Nick Moalli, league assistant vice president, and representatives from nearby credit unions.
"We need to see laws in place that allow smaller institutions like credit unions compete with the larger ones," said Himes, who is also a member of the House Financial Services Committee.
"I appreciated the opportunity to speak with Rep Himes about the potential impact that the interchange provisions could have on credit unions," Chartier said, adding "and I came away from our conversation assured that he understands our concerns and will work to protect us in the final regulations."
Himes met with league officials and CU reps at an Aug. 5 luncheon to discuss the MBL cap, provide an update on a number of congressional bills of importance to credit unions, including the interchange fee issue.