Credit unions got a glimmer of hope today when Sen. Charles Schumer (D-N.Y.) said he still would like to have legislation to lift the cap on member business lending.
"I do hope to get that as part of a future jobs bill or as part of the [financial services] regulatory restructuring legislation," Schumer said in response to a question from Credit Union Times during a conference call with reporters.
When asked why the legislation-which he has strongly backed-wasn't included in the jobs bill that lawmakers are scheduled to take up next week, Schumer replied "The bill is narrow and we wanted to keep it focused on provisions that have had bipartisan support."
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