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Washington
Texas CU league backs MBL cap lift in iRoll Calli
WASHINGTON (4/16/10)--The Texas Credit Union League again stepped in to the member business lending (MBL) cap debate on Thursday by publishing a pro-MBL cap lift ad in D.C.-based publication Roll Call. The Texas League ad focuses on the unique story of bagel shop owner Suzanne Herman, who “had problems finding capital” for her business until she worked with her local credit union.
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The Independent Community Bankers of America (ICBA) have also chimed in on the financial regulatory reform debate, encouraging legislators to end too big to fail and “cut the giants down to size and make them pay their fair share.” The ICBA ad was also published in the pages of Roll Call. The MBL issue has certainly garnered some attention in the recent weeks, with state credit union leagues and independent backers seeking support for the legislation through district town hall meetings, district office visits, advertising, and pro-MBL editorials. Rep. Paul Kanjorski's (D-Penn.) bill that would lift the member business lending cap from 12.25% to 25% of assets and exclude loans less than $250,000 from being defined as a "business loan" currently has a total of 112 cosponsors. Similar legislation has also been introduced by Sen. Mark Udall (D-Colo.). The Credit Union National Association has estimated that lifting the MBL cap would inject up to $10 billion in new capital into the economy, potentially creating as many as 108,000 jobs, all at no cost to taxpayers.


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