Excluding a provision to raise the member business loan cap would cost jobs and therefore CUNA will oppose the small business lending bill without such an amendment, CUNA President/CEO Bill Cheney wrote Senate leaders today
The combination of election-year politics and the desire of lawmakers not to have to choose between credit unions and community bankers have helped erect a series of roadblocks to raising the cap on member business lending.
Sen. Susan Collins (R-Maine) has become the first member of her party to sign on as a co-sponsor of an amendment by Sen. Mark Udall (D-Colo.) that would raise the cap of 12.25% of assets to up to 27.5% of assets.
Calling it a "zero dollar stimulus," NCUA Chairman Debbie Matz today urged the Senate to approve an amendment that would raise the cap on member business loans from 12.25% of assets to as high as 27.5% of assets.
Raising the cap on member business loans would do much to jumpstart the economy, NAFCU Executive Vice President Dan Berger wrote Senate leaders today.
LAS VEGAS -- If Colorado Senator Mark Udall's amendment to raise the regulatory credit union business lending cap to 27.5% is successful, it will create 108,000 new jobs in the first year.
CUNA and NAFCU are redoubling their efforts to lobby senators to support an amendment by Sen. Mark Udall (D-Colo.) that would raise the cap on member business loans from 12.25% of assets to 27.5% of assets.
Senate leaders haven't made a commitment to allow Sen. Mark Udall (D-Colo.) will be allowed offer his amendment to raise the cap on member business loans for credit unions, his spokeswoman said today.
After having dropped off for a month, CUNA's Credit Union Legislative Action Council is again on the list of top of the top 20 donors to federal candidates, according to data compiled by the Center for Responsive Politics.
NAFCU has written U.S. Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.) over its concern with an amendment capping ATM fees.