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.
Now comes the hard part. Former New York Governor Mario Cuomo famously said that “you campaign in poetry and govern in prose.”
Here we go again. Saying that it would “expand the options for small businesses at no expense to taxpayers,” Sen. Mark Udall (D-Colo.) last week reintroduced a measure to raise the cap on member business lending from 12.25% of assets to as much as 27.5% of assets.
Sen. Mark Udall (D-Colo.) introduced a bill to raise the cap on member business loans from 12.25% of assets to 27.5%.
WASHINGTON — House Speaker John Boehner promised that the House will work hard to ease the regulatory burden so credit unions can lend more money and businesses can create new jobs.
WASHINGTON — Rep. Ed Royce (R-Calif.) plans a renewed push to raise the cap on member business loans because it’s a way of creating jobs without involving government.
Credit unions lost one of their strongest congressional allies this year and will have to deal with more Republicans in both the House and Senate next year.
Say farewell to the wisecracking, brainy lawmaker from suburban Boston and say hello to the soft-spoken, courtly former lumber company owner and trial lawyer from Birmingham, Ala.
Thanks to the voters' decisions earlier this month, after a two-year hiatus we will be able to find out.
Rep. Ed Royce, a strong supporter of credit union causes such as raising the cap on member business lending, announced last night that he will seek the chairmanship of the House Financial Services Committee.