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As senators prepare a jobs-creation package that CUNA and NAFCU hope will include an increase in the MBL cap, the trades yesterday wrote letters reiterating their support for the measure and criticized what NAFCU called the “shameless opposition” of the banking industry.

NAFCU Executive Vice President B. Dan Berger wrote lawmakers that raising the cap would be “an important step in the recovery of the small business community and the overall economy.” He cited a 2001 Treasury Department study, which concluded that credit union business lending didn’t negatively impact the profitability of other insured depository institutions and that credit union business loans are less risky than similar loans made by commercial banks.

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