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Raise the Cap on Business Lending

Congressmen and businessmen got together on Capital Hill to call for a lifting of the member business lending cap for credit unions.

By Claude R. Marx | Updated on February 09, 2012
Rep. Carolyn McCarthy takes the podium at Wednesday's press conference to promote the MBL bill she co-sponsored..

A bipartisan pair of lawmakers joined with industry lobbyists and some small-business owners on Wednesday to push for passage of a bill that would raise the cap on credit union small business lending. In the House, the two main sponsors are Republican Ed Royce of California and Democrat Carolyn McCarthy of New York. They held a Hike the Hill news conference where they were joined by a North Carolina contractor and New Mexico oil and gas specialist who said letting credit unions lend more to small businesses would help spur growth and create jobs.

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