Rep. Ed Royce, a strong supporter of credit union causes such as raising the cap on member business lending, announced last night that he will seek the chairmanship of the House Financial Services Committee.
CNN, Fox and MSNBC have all projected that the GOP will win a majority of seats in the House, thus ending the Democrats' four-year control of that chamber.
In politics, the party that controls Congress usually gets the lion's share of the campaign money.
NAFCU has added more federal legislators and an additional regulator to the roster of speakers for its 2010 Congressional Caucus.
The campaign giving patterns of CUNA and NAFCU in February could be best described as the calm before the proverbial storm.
Raising the cap on member business loans is risky in light of the problems facing credit unions and would take away businesses from "tax-paying community banks," said Independent Community Bankers of America Senior Vice President Stephen J. Verdier.
Rep. Brad Sherman, a member of the House Financial Services Committee, urged his colleague who is writing the jobs creation bill to include in it an increase in the cap on member business lending.