WASHINGTON – What is expected to be the final effort to get the increased in the member business loan cap passed in this Congress failed Sunday in the Senate when one key senator objected to a proposal to vote the bill.
Sen. Mark Udall, D-Colo., the chief sponsor of the bill, attempted to bring up the MBL bill for consideration by the Senate under so-called unanimous consent, but that effort was blocked by Sen. Richard Shelby, R-Ala., and the measure was not considered.
The effort is probably the last chance the bill, which would have raised the cap on MBLs from the current 12.25% of assets to 27%, will be considered in this Congress, at least the fourth Congress to consider a raise in the MBL limit in recent years.
