Trades Say Johnson’s Likely Banking Chairman Successors Are Credit Union Friendly
Trade association representatives on Capitol Hill say senior leadership on the Senate Banking Committee, poised to replace Chairman Tim Johnson (D-S.D.) who recently announced he will retire at the end of the current congressional session, is credit union friendly.
Should Democrats retain Senate majority following the 2014 mid-term elections, Sen. Jack Reed (D-R.I.) would be next in line to chair the committee. Last congress, Reed was an original co-sponsor of S. 2231, the Small Business Lending Enhancement Act, which would have raised the member business lending cap to 27.5% of assets.