CUNA President/CEO Dan Mica had two high profile appearances Tuesday talking about member business lending. Mica was a live guest on the Fox Business Channel explaining why raising the member business lending cap will help small businesses. Mica also took questions concerning a New York Times article about Eastern Financial CU.
Later in the day, Mica testified before the House Financial Services Committee to talk about raising the MBL cap. Chairman Barney Frank (D-MA) and the rest of the committee embraced the ideas Mica spoke about. He said afterward that the Administration actually likes the idea of a negotiated MBL capacity. This is the first time the Administration has publicly embraced the idea. Chairman Frank told the committee that he intends to have a "markup" of MBL legislation soon.
Click to view Mica's Fox Business Channel appearance.