NCUA Board Can Seize MBL Initiative
For the last five and a half years, I and other NCUA Board members have supported legislation in Congress that would increase the amount credit unions may lend for member business loans. We have written letters to and testified before Congress, published articles and columns and spoken at events across the country in support of new MBL limits for credit unions. Despite the support of the regulator and the efforts of the credit union industry, Congress has not yet acted.
As a result of still being where we were five and a half years ago, many credit unions have been unable to encourage additional member business loans, small businesses have been stymied and the economy of this country has not been given another tool to help it move forward.