Last week was a pivotal week for member business lending (MBL) on Capitol Hill. Significant progress was made with the House and Senate leadership as well as the Treasury and the Administration. The LSCU and CUNA is looking for legislative action sometime after the Easter recess.
The closer credit unions get to MBL advancements, the more opposition is expected.
Click here to see letters sent Wednesday from the ABA and the ICBA to Secretary Tim Geithner urging Treasury to oppose lifting the cap. Also on the
same page are grassroots action alerts from ICBA and ABA on this issue. Banks are increasing the volume against us on this issue, and it is critical that credit unions make their voices heard. This push for MBL legislation is nearly in the critical stage. It is important that credit unions keep up the momentum into the Congressional recess. Because of the current state of play, the League is not targeting the White House and Treasury. If the situation changes, the strategy will be altered.
An action alert message and constituent letter can be
found here for credit union use. A combined House-Senate letter is now available at
http://capwiz.com/cuna/home/. If you prefer to speak directly with your member of Congress, rather than send an e-mail, please call their Washington offices and leave a polite yet firm message using the talking points below.
Click here for a list of the Alabama and Florida delegation's phone numbers and fax numbers. If you call, fax or e-mail separate from the capwiz system, please let the League know so that we may keep up with the level of contacts for each office.
The Political Action Center on the LSCU Web site is password protected and credit unions need to login to view the materials. It's easy to request a password, just hit login and then sign up.
Please contact LSCU Vice President, Legislative Affairs,
Mark Landreth at (850) 558-1012 or LSCU Vice President, Legislative Affairs/Staff Counsel
Will McCarty at (205) 437-2137 with any questions.