Trade association representatives on Capitol Hill say senior leadership on the Senate Banking Committee, poised to replace Chairman Tim Johnson (D-S.D.) who recently announced he will retire at the end of the current congressional session, is credit union friendly.
Should Democrats retain Senate majority following the 2014 mid-term elections, Sen. Jack Reed (D-R.I.) would be next in line to chair the committee. Last congress, Reed was an original co-sponsor of S. 2231, the Small Business Lending Enhancement Act, which would have raised the member business lending cap to 27.5% of assets.
"He's been supportive of credit unions and their members, and would do a great job as chairman," Katie Marisic, NAFCU director of political affairs, said of Reed.
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