Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Senate MBL vote postponed this week
WASHINGTON (11/27/12)--Reflecting the fast and furious pace of change in the current, month-long, lame duck congressional session, U.S. Senate leadership announced its schedule for the week and now is expected to take up Budget Act points of order and a plan to move forward on the Defense Authorization bill.

Absent from this week's Senate line up is a vote on S. 2231, a bill to increase credit union member business lending (MBL) authority. As late as this morning, MBL bill supporters were told to anticipate a vote this week--perhaps as soon as Wednesday.

However, after consultation with several Senate offices, the Credit Union National Association (CUNA) now does not expect a vote on S. 2231 this week. However, a vote is considered likely during the lame duck session, which is currently targeted to end Dec. 21.

S. 2231 would increase the MBL cap to 27.5% of a well-capitalized, experienced credit union's assets, up from the current 12.25% limit. H.R. 1418 is the House version of that legislation.

"The situation is and will remain fluid until a vote is cast," said CUNA Senior Vice President of Legislative Affairs Ryan Donovan Monday.

He emphasized that CUNA's grassroots advocacy effort this week, to push for a favorable vote on S. 2231, is very well timed.

More than 500 credit union and small business representatives are expected to be on Capitol Hill Tuesday and Wednesday participating in the CUNA-sponsored "Hike the Hill" to highlight the ways in which the legislation will bolster small businesses and help the economy at no cost to American taxpayers. (See related story: 500 CUs, small biz press for MBL passage this week.)


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
9 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
14 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
15 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
17 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
17 hours ago