Credit union member business lending made a to-do list published Nov. 5 by the National Journal that originated from Senate Majority Leader Harry Reid's (D-Nev.) office.
Despite the encouraging news that credit unions are still on Reid's mind, the Washington Beltway publication added a dash of pessimism, saying the length of the list ensures many items will not be completed in this Congress.
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S. 2231, which would raise the member business lending cap to 27.5% of assets, will indeed have to compete with some high-profile legislative priorities, according to the report. The list also includes the fiscal cliff, farm bill, defense authorization, cyber security and one from the banking lobby's wish list, the extension of unlimited federal deposit insurance for transactional accounts.
CUNA Executive Vice President of Government Affairs John Magill said the number of bills that must be passed during the lame duck session increases the likelihood that member business lending could be attached to another piece of legislation.
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