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News Now

Washington
CUs continue push for MBL support in Senate this week
WASHINGTON (7/27/10)--The Credit Union National Association (CUNA) and sponsor Mark Udall (D-Colo.) continue to work to drive support for member business legislation ahead of potential action this week. Job-boosting small business legislation was discussed last week, with an amendment that would create a $30 billion lending fund for small banks being added on Thursday. It is not known if the MBL legislation, which would lift the MBL cap imposed on credit unions from the current 12.25% to 27.5% of total assets, will come up for discussion this week, and the potential for discussion on the small business bill is also unknown at this time. While the house will wrap up the first half of 2010 at the end of this week, the Senate will likely remain in session through August 6. Further action on small business legislation could take place at that time. The House schedule for the week includes discussion of supplemental funding bills and possible changes to funding for the department of Housing and Urban Development. A House Financial Services Committee markup on internet gambling legislation will also take place later today.


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