May 12, 2014

NAFCU touts raising MBL cap to Congress

May 13, 2014 – NAFCU Vice President of Legislative Affairs Brad Thaler on Monday urged House and Senate leaders to support of bipartisan legislation in both bodies that would raise the member business lending cap for credit unions.

In recognition of National Small Business Week, Thaler enumerated how H.R. 688, the "Credit Union Small Business Jobs Creation Act," and S. 968, the "Small Business Lending Enhancement Act," would allow credit unions to extend credit to small businesses and help drive the economy without using taxpayer money.

Thaler wrote that as Congress "considers ways to address credit availability for small businesses, the potential that exists with credit unions and their 97 million members should not be overlooked. Our nation's credit unions have money to loan to small businesses; however, an outdated and arbitrary business lending cap stands in their way."

Thaler urged the lawmakers to "leave no stone unturned" when it comes to helping small businesses thrive and create jobs.