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News Now

Washington
MBL opportunities coming up in Congress CUNA says
WASHINGTON (11/17/10)--While it is unclear how much the Congress will accomplish during the year-ending lame duck Congressional session, the Credit Union National Association (CUNA) will attempt to attach member business lending related legislation to any and all legislative vehicles that look likely to progress through Congress. CUNA Vice President of Legislative Affairs Ryan Donovan said that “there is plenty that could keep Congress in session through much of the month of December, and that gives us more time to continue to push the enactment of the MBL cap increase.” CUNA is working with Senators Mark Udall (D-Colo.), Charles Schumer (D-N.Y.) and Harry Reid (D-Nev.) to advance the MBL cap lift legislation, and is currently laying the ground work for further work when the new Congress begins next year. The most noteworthy hearing of this week took place on Tuesday, as the Senate Banking Committee approved the nomination of Peter Diamond for the Federal Reserve’s Board of Governors. The Committee also discussed mortgage servicing, modification and foreclosure issues during the hearing.


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