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Washington
CUNA statement urges Senate action on MBLs
WASHINGTON (3/3/10)--The Credit Union National Association (CUNA) continues to encourage legislators to support S. 2919, the Small Business Lending Enhancement Act, calling the member business lending (MBL) legislation "a job creation bill that would not cost the taxpayers a dime and would not increase the size of government." CUNA made the comments in a statement submitted for the record of a hearing Tuesday by the Senate Banking subcommittee on economic policy, entitled “Restoring Credit to Main Street: Proposal to Fix Small Business Borrowing and Lending Problems.” In the statement, CUNA urged support of S. 2919, which would increase the credit union MBL cap from 12.25% to 25% of a credit union’s total assets and would increase the "de minimus” threshold for member business loans from $50,000 to $250,000. CUNA has estimated that the increased MBL cap would free an extra
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