Supplemental Capital Steps To Plate, As MBL Relief Strikes Out
WASHINGTON — CUNA is doing what it can to find a something of a silver lining in the fact no progress was made in the current Congress on member business loan relief.
"While Congress was debating nuclear arms treaties, Don't Ask Don't Tell and other major issues, the fact that credit unions would even come up in that conversation is something," said CUNA CEO Bill Cheney.
Although CUNA will be shifting its focus in 2011 to prioritize supplemental capital and capital reform, efforts to lift the MBL cap are still ongoing, he said.
"We will continue to work on member business lending behind the scenes, simply becase we did make a lot of progress," Cheney related. "I'm sorry that we didn't succeed in getting it done already, but the work continues."