ABA, ICBA in town for conferences that have taxing credit unions high on the agenda.
Surrounding the chocolates, roses and love-filled greeting cards that made the rounds in Washington on Valentine’s Day, was an announcement from Rep. Ed Royce (R-Calif.) re-introducing a bill that would increase the member business lending cap from 12.25% of assets to 27.5%.
Participation loans also seen as way to boost business as member business lending cap hike reintroduced again in Congress.
California Republican Ed Royce and co-sponsoring Democrat Carolyn McCarthy of New York bring MBL cap-raising bill back for 2013 session.
Sen. Mark Udall (D-Colo.), primary sponsor of S.2231, which would increase the member business lending cap to 27.5% of assets, received loud cheers as he spoke in favor of the legislation to about 500 gathered in Washington Nov. 27 to hike the hill in favor of the bill.
Texas Republican called CFPB, Dodd-Frank "legislative drive-by shooting" at NAFCU Congressional Caucus earlier this year.
The Tuesday night reception drew lawmakers, credit unions and business owners and kicked off CUNA’s latest Hike the Hill.
Not so fast. After announcing Monday afternoon that a Senate vote was imminent, CUNA now says it’s not so.
CUNA announced Monday it has been told by Capitol contacts that a vote on S. 2231 could come in the next 48 hours.
Credit union trade associations have entered the 2012 election homestretch, with both CUNA and NAFCU confirming PAC spending figures reported by the Federal Election Commission and website OpenSecrets.org.