After Flap, Pro-MBL Body Checks Abound: Print Preview
Despite comments made by co-sponsor Sen. Chuck Schumer (D-N.Y.) April 23 that suggested a vote on S. 2231 may be delayed, credit union trade associations continue to crash the net in support of the Small Business Lending Enhancement Act.
Schumer was quoted in trade publications telling bankers that a vote on raising the member business lending cap has been delayed until this summer. The comment caused a ruckus because credit unions have been anticipating it since late March when Senate Majority Leader Harry Reid (D-Nev.) promised a vote.
Brad Thaler, NAFCU's vice president of legislative affairs, also agreed that the Senate would probably address other legislation first. Thaler said that although lawmakers have been cautious to sign on in support of S. 2231, he’s confident credit unions will get the 60 votes needed to secure a super-majority to overcome any bipartisan challenge.
“I think a lot of people in the Senate view this as a fight between their friends and realize once they take a stand, they’re upsetting one side or another,” Thaler said. “They’re hesitant to do that until they have to.”