On Member Business Lending Bill, Trades Are Sticking With Plan A: Print Preview
Even after news that a vote on S. 2231 won’t happen as quickly as hoped, credit union trade associations say they aren’t pursuing Plan B to promote legislation that would raise the member business lending cap to 27.5% of assets.
Passing legislation is a process, not an event, stressed NAFCU President/CEO Fred Becker. Credit unions must remain unrelenting in their support of MBL legislation, he said, and not give up or walk away.
When asked if he thought Sen. Johnson’s comments may have influenced other senators to avoid a vote on S. 2231, Senate Banking Committee spokesman Sean Oblack sidestepped the question, saying, “On March 15th on the Senate floor, Majority Leader Reid committed to voting on member business lending. We are not aware that there has been a change.”
S. 2231 sponsor Udall said he still believes his bill will come to a vote this year.