WASHINGTON As expected, credit union congressional allies reintroduced bills to raise the member business loan limit and allow credit unions to raise supplementary capital, signaling a new lobbying pitch for the perennial credit unions bills.
Republican Ed Royce of California once again introduced a bill that would raise the MBL limit from the current 12.25% of assets to 27%. The bill has been introduced in the past six Congresses.
And Democrat Brad Sherman of California introduced a bill that would allow credit unions to raise new forms of capital. The supplementary capital bill also has been before Congress several times before.
Both bills were introduced just a week before some 4,000 credit union executives and volunteers will make their annual lobbying pilgrimage to Capitol Hill during CUNA’s Government Affairs Conference.