Click here to read Bill Cheney's recent letter to President Obama urging him to advocate for the increase in member business loan (MBL) authority for federally insured credit unions up to 27.5% of assets as championed by Senator Mark Udall (D-CO) and others.
In his letter, Cheney commends Treasury Secretary Geithner, as well as NCUA Board Chair Debbie Matz for their endorsement of the increased MBL authority. Last May, Treasury Secretary Geithner provided a letter to Congress in support of the Udall amendment. This letter, which Treasury helped draft, is very important to CUNA's efforts, especially since this Treasury Secretary has not sent a similar letter to Congress in support of any other interest group’s specific legislation.
Click here to review the letter from Geithner.
You can find both of these letters and many more MBL resources by visiting the
MBL and Interchange Resource page. It is password protected so please request a password, if you don't already have one.