Keeping the momentum going, Sen. Mark Udall (D-Colo.) is scheduled to speak at the Credit Union Association of Colorado this morning to promote legislation that would raise the member business lending cap.
|Udall, along with several six other senators co-sponsored S. 2919, which was introduced in December. The bill seeks to raise the MBL limit from 12.25% of a credit union's assets to 25% and increase the minimum business loan subject to that cap from $50,000 to $250,000.
|At today's news conference, Udall is set to be joined by a Colorado woman who had to take out a second mortgage on her house to open a salon five years ago, according to Udall's office.
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