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Cheney meets with Senate leader Reid
WASHINGTON (7/22/10)—Credit Union National Association (CUNA) President/CEO Bill Cheney continued to press the case for credit unions in Congress, meeting with Senate leader Harry Reid (D-Nev.) and Sens. Spencer Bachus (R-Ala.), John Boehner (R-Ohio), Richard
Click to view larger image CUNA's Bill Cheney discusses credit union legislation pending in the Senate with Majority Leader Harry Reid (D-Nev.) during a meeting Wednesday in the leader's suite of offices in the U.S. Capitol. A key element of their discussion: credit union member business lending legislation. (CUNA Photo)
Click to view larger image House Minority Leader John Boehner, of Ohio, discusses the outlook for the congressional calendar with CUNA President/CEO Bill Cheney during a meeting Wednesday. (CUNA Photo)
Shelby (R-Ala.), Charles Schumer (D-N.Y.) and Patrick Leahy (D-Vt.) on Wednesday. As Senate Majority Leader, Reid is vital to any action the Senate takes, and is a central figure in the current debate over potential small business legislation. Reid is a cosponsor of Sen. Mark Udall’s pro-member business lending legislation. CUNA has estimated that lifting the MBL cap beyond the current limit of 12.25% could create over 108,000 new jobs and inject $10 billion in new funds into the economy, boosting the prospects for small businesses while removing taxpayer funds from the process. Cheney also continued to encourage the congressional leaders to consider allowing alternative capital for credit unions in this and upcoming congresses. The CUNA leader brought a similar message to their discussions with Rep. Barney Frank (D-Mass.) and Sen. Chris Dodd (D-Conn.) on Tuesday. Cheney also met with the National Credit Union Administration’s Chairman Debbie Matz and board member Gigi Hyland on Tuesday, and intends to meet with board member Michael Fryzel in the near future. Cheney has also scheduled a meeting with U.S. Treasury Assistant Secretary for Financial Institutions Michael Barr in early August, and CUNA is working with the Treasury on alternative capital and interchange fee legislation.


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