On-Site Coverage: Schumer Optimistic About MBL Hike
WASHINGTON - The Senate’s No. 3 Democrat said today there is a “decent’’ chance his chamber will pass Sen. Mark Udall’s bill to raise the cap on member business lending to as much as 27.5% of assets.
“If you believe in small business lending why not increase the cap? As I understand it the initial cap was an arbitrary number and there hadn’t been one before,’’ Sen. Charles Schumer (D-N.Y.) said in response to a question from Credit Union Times at an event sponsored by Politico.