Time Is Now To Take MBL Action

The Credit Union National Association (CUNA) is pushing hard for a vote on member business lending (MBL) cap legislation during the lame duck session of Congress, and CUNA President/CEO Bill Cheney in a video said he needs the help of credit unions and small business owners “to make this vote a reality.”

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MBL legislation made Sen. Majority Leader Harry Reid’s (D-Nev.) list of ‘to-do-items for this lame duck session of Congress, and Senate leadership has committed to a floor vote on MBL legislation. CUNA and credit union leagues are also urging credit unions to participate in a national Washington fly-in set for Nov. 27-28, during the heart of Congress’ lame duck session, expressly to advocate for an MBL vote. Word surfaced last week that the banking trade associations are organizing a fly-in of their own in an attempt to counter credit union efforts–another reason CUNA is urging credit unions to respond to this call for action.

Cheney’s new MBL video also features commentary from Senate MBL chief sponsor Sen. Mark Udall (D-Colo.) and clips from a recent Capitol Hill pro-MBL rally held by CUNA and pro-MBL coalition partners.

“Altogether, our actions stress the crucial role credit unions play in small business expansion and job growth. We have made a strong case; many in Congress support us,” Cheney said.

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