CEO makes pitch to president at community college town hall meeting, tells Obama of having to reject business' loan request.
Democratic Sen. Dianne Feinstein and GOP Rep. Darrell Issa, both Californians, have signed on to raising the lending cap.
Cheney sends letter to president asking backing of bills in Congress that would raise cap to 27.5% of assets.
CUNA and NAFCU use last week’s jobs report to renew their push for lawmakers to raise the cap on member business lending.
During the first five months of 2011, CUNA’s political action committee received $502,266 in contributions toward its efforts to influence the outcome of political campaigns, and NAFCU’s fundraising efforts netted $53,669, according to reports filed with the Federal Election Commission.
Trades report contributions to congressional lobbying efforts.
Might this time finally be the charm for member business lending? After years of lobbying and cajoling, credit unions will finally get their wish on June 16 when the Senate Banking Committee holds a hearing on Sen. Mark Udall’s (D-Colo.) legislation to raise the cap on member business loans.
Board move pinned on expected June 16 Senate Banking Committee hearing on legislation to raise member business lending cap.
CUNA’s PAC raised $93,774 in April and NAFCU’s raised $14,250, according to forms filed with the Federal Election Commission.
Lobbyists for CUNA and NAFCU said today that Reps. Ed Royce and Carolyn McCarthy plan to introduce legislation this week to raise the cap on member business loans to as much as 27.5% of assets.