Despite a recess in the Senate, CUNA is urging credit unions to continue meeting with senators in an effort to increase the member business lending cap.
The banking industry's push to stonewall attempts to attach an amendment to a bill that would raise the member business lending cap continues to draw the ire of the Wisconsin Credit Union League.
A Supreme Court nomination and energy legislation are taking center stage in the Senate this week, thus putting a job creation bill on the back burner.
The Wisconsin Credit Union League has stepped up its criticism of banks that have stonewalled attempts to attach an amendment to a bill that would raise the member business lending cap.
Partisan maneuvering derailed, at least temporarily, Senate action on s small business lending bill.
Whether they call the pristine greenery of the Pacific Northwest or the rolling hills of New England home, many credit unions share a common approach when it comes to business lending:
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
In a late-night session and after extensive procedural maneuverings, the Senate last night approved a $30 billion fund that community banks can access to fund more business loans
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.