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.
CUANY says its hill hiking also prompted call from New York Sen. Schumer to primary sponsor Sen. Udall of Colorado.
The Tuesday night reception drew lawmakers, credit unions and business owners and kicked off CUNA’s latest Hike the Hill.
Hope held out for packaging Transactional Account Guarantee extension with member business lending cap hike.
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.
HR 1418, a bill to raise the cap on credit union member business lending, now has 140 co-sponsors, a chief sponsor says.
Political newspaper The Hill will include member business lending as a topic during a public event Wednesday that will focus on access to capital.
Credit union consultant, blogger and Capitol Hill veteran Marvin Umholtz said the nation’s growing political divide is apparent among credit union leaders and fuels comments he receives from his readers and colleagues.
CUNA has been receiving feedback regarding league endorsements and PAC donations that reflect divide, said President/CEO Bill Cheney.