Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
MBL backers increase after CU Hill visits
WASHINGTON (3/1/10)--Credit union advocacy gained great results during last week’s Credit Union National Association (CUNA) Governmental Affairs Conference (GAC), with various credit union representatives securing 16 new co-sponsors for legislation that would increase the 12.25% of assets cap on member business lending by credit unions. The legislation in question, H.R. 3380 and S. 2919, would allow credit unions to lend as much as 25% of their total assets to members that own small businesses and would raise the "de minimis" threshold related to these loans to $250,000. The adding of these new cosponsors happened as 4,000 credit union representatives blanketed Capitol Hill during CUNA’s GAC, meeting with lawmakers on top credit union issues such as interchange and increasing the MBL cap. The House version of the bill is now also cosponsored by Rep. Carolyn Maloney (D-N.Y.), Rep. Chellie Pingree (D-Me.), Rep. Carolyn Kilpatrick (D-Mich.), Rep. James Langevin (D-R.I.), Rep. John Sarbanes (D-Md.), Rep. Elton Gallegly (R-Calif.), Rep. Gary Peters (D-Mich.), Rep. Larry Kissell (D-N.C.), Rep. Candice Miller (R-Mich.), Rep. Patrick Kennedy (D-R.I.), Rep. Alan Grayson (D-Fl.) Rep. Christopher Carney (D-Pa.), Rep. Steve Kagen (D-Wisc.), Fortney Stark (D-Calif.), Rep. Gus Bilirakis (R-Fl.) and Rep. Neil Abercrombie (D-Hi). Senators Bernie Sanders (I-Vt.) and Arlen Specter (D-Pa.) signed on to support S. 2919. (See related story: GAC grassroots advocacy gets results)
Other Resources

RSS





print
News Now LiveWire
American Banker reporter follows up with CUNA's Schenk on holiday spending survey results http://t.co/T5DmIWUkaM
9 minutes ago
CFA/CUNA holiday survey spending plans results http://t.co/uyZtkNfkmD
13 minutes ago
CUNA/CFA give holiday spending tips:budget,compare,pay off quickly,save early for next year.
15 minutes ago
CFA's Brobeck points consumers to the better rates and fees at #creditunions
18 minutes ago
Households w incomes less than $25,000 fared worse over yr than those over $100,000 Brobeck notes
19 minutes ago