WASHINGTON – As efforts to increase the member business loan cap in yet another Congress failed again Sunday in the Senate, CUNA and NAFCU vowed to continue to work with the next Congress to raise MBL limits.
“We certainly appreciate Senator Udall’s [Mark Udall, D-Colo.] member business lending amendment,” said CUNA President Bill Cheney. “We made a lot of progress on member business lending and we will not let that go to waste. Sen. Udall has made it clear that he wants to continue to work with us. We will not let this die.”
Brad Thaler, NAFCU's director of legislative affairs, stressed that NAFCU will stay on point. “We appreciate Sen. Udall’s continued efforts to press for support of S.2919. We believe raising the member business lending cap is a win-win for our economy and taxpayers. It would help small businesses access the capital they need to create new jobs and fund their businesses at no cost to taxpayers by simply allowing credit unions to use the capital that they have available.”
Cheney added that in the next Congress CUNA will be focused heavily on gaining traction for capital reform for CUs. “Supplemental capital will be our top priority in the next Congress,” he said.
