Credit union industry figures blitzed Washington media outlets this week to bring attention to S. 2231, the bill that would increase the MBL cap.
Having more than enough money to lend would seem to be a good problem to have. For many credit unions, however, the economy’s stalls and starts to recovery in 2011 kept members more focused on paying down debt and trimming expenses. Taking out new loans? Not so much.
Representatives of CUNA and NAFCU are using appearances at today's joint hearing of two House committees to press their case for raising the cap on member business lending.
St. Mary's Bank President/CEO Ronald Covey and Mid-Atlantic Federal Credit Union President/CEO Rick Wieczorek are scheduled to discuss the state of business lending and commercial restate during a House committee hearing on Friday.