A letter signed by 58 House members, including Corrine Brown (D-FL), was sent to House Speaker Nancy Pelosi (D-CA) and House Minority Leader John Boehner (R-OH) asking them to consider raising the member business lending cap. The letter asked House leaders to "do more to support America's small businesses by modifying the statutory limitations that have currently prevented many credit unions from doing more to advance the economic recovery." Specifically pointed out in the letter was legislation
HR 3380 introduced by Rep. Paul Kanjorski (D-PA) and Ed Royce (R-CA) to raise the credit union member business lending cap from 12.25 percent to 25 percent and for "any future jobs-creation legislation that the House considers" to include MBL legislation.
The letter followed the aggressive Hill visits by more than 4,000 credit union officials at last week's CUNA GAC. During those visits, the LSCU delegation was able to get Rep. Gus Bilirakis (R-FL) and Rep. Alan Grayson (D-FL) to add their names as co-sponsors of Rep. Kanjorski's legislation. In total, 34 new co-sponsors were added to legislation during the GAC
Rep. John Boehner (R-OH) received a letter signed by House members urging the business lending cap be raised.