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Sen. Schumer publicly backs MBL cap lift

Chuck Schumer Photo

Credit unions received major public support last week when Sen. Charles Schumer (D-NY) publicly backed raising the member business lending (MBL) cap.

Through a statement, Sen. Schumer said that lifting the "job-killing" lending cap "would be a win" for small businesses. "In these difficult economic times, we must ensure that they have access to the credit they need to grow and create jobs," he added.

Sen. Schumer, one of 20 co-sponsors of S. 509, released the statement ahead of President Obama's address to the naton Thursday evening. Sen. Bill Nelson (D-FL) is also a co-sponsor.