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Banking lobbyists had strong words for the latest credit union industry efforts to combine member business lending legislation with an extension of the Transaction Account Guarantee, legislation at the top of bankers’ wish lists.

In a Nov. 23 article in Politico, Independent Community Bankers of America Executive Vice President Paul Merski said S.2231, which would increase the member business lending cap to 27.5% of assets, doesn’t have enough votes to pass in the Senate. So, credit unions are “trying to attach it like a barnacle” to the TAG bill, Merski said, which he called non-controversial.

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