CUNA Adds Lobbying MuscleTo Push For MBL Cap Increase
WASHINGTON-As final votes were being assembled on the small business lending bill before Congress, which could raise the member business loan cap to as much as 27.5% from the current 12.25% for credit unions, CUNA hired a new outside lobbying firm to help in the effort, Hecht Spencer & Associates. Timothy Hecht, a former deputy political director for the first Bush White House, and Franklin Phifer, a former aide to the House Ways and Means Committee, are lobbying for the trade group.
Filene Seeking CU InputInto Interchange Survey
MADISON, Wis.-The Filene Research Institute has launched a study to determine the effects the interchange reform on credit unions, and is asking CU execs to participate in an online survey at http://filene.org/blog/post/interchangesurvey. Deadline is July 16. The resulting report, detailing both the changes to interchange and the broader ramifications of the financial reform bill, will be available from the Filene Research Institute this fall.
Fla. CU CEO Charged InConspiracy To Steal Funds
TALLAHASSEE, Fla.-The president of Florida A&M University FCU and a program director at the university were charged last week in a federal indictment alleging conspiracy to steal $134,000 of U.S. Department of Housing and Urban Development funds. Eugene Telfair, the 57-year-old president of the $23- million CU, and Robert Nixon, 45, director of FAMU's Institute on Urban Policy and Commerce, were charged with conspiracy, theft from an organization receiving federal funds and embezzlement of funds entrusted to a federally-insured credit union.