CUNA’s Cheney Releases Video Urging Action in Support of MBL Bill

With the Nov. 6 elections now in the rearview mirror, credit union advocates are again focused on passing legislation in Congress to increase the credit union member business lending (MBL) cap, and Credit Union National Association (CUNA) President and CEO Bill Cheney released a video this morning urging credit unions to take action.

“We anticipate a robust lame duck session,” CUNA Executive Vice President John Magill said Wednesday. “We are launching a massive, grassroots Hike the Hill event just as lawmakers return for the post-election session.  And, with the number of lingering, must-pass legislative items pending there will be many vehicles to serve as an engine for credit union legislation.”

The grassroots event Magill referred to is the MBL-focused Hike the Hill that will take place in Washington, D.C., on Nov. 27 and 28. The Northwest Credit Union Association (NWCUA) will issue a call-to-action to its member credit unions in the Northwest on Tuesday, Nov. 13.

“We have our best chance (and most likely our last chance for this Congress) to convince Congress to enact our member business lending bill during the final session,” Cheney stated in an email today. “I need your help—and the help of credit unions and their business-borrowing members—now to make this win a reality.”

“They know how close we are,” he wrote. “We must meet this challenge.”

“In some senses this has been a ‘status quo’ election, with the majority parties in the House and Senate, and leadership in the White House, remaining the same once a new session of Congress begins in January,” said Magill, who also explained why this may be favorable development for credit unions.

“It means there is no rationale for holding off action for the next year on pending priority legislative items hoping for different outcomes,” he said. “And MBL legislation, as recently as this week, was identified by Senate leader Harry Reid (D-Nev.) as one of his 26 ‘unfinished business’ items for the year.”

Click here to view Cheney’s full video.


Questions? Contact a member of the Association’s Legislative Affairs team:

Jennifer Wagner, Vice President of Legislative Advocacy
Mark Minickiello, Vice President of Legislative Affairs
Pam Leavitt, Policy Advisor

Posted in Advocacy News, Business Solutions, Industry Insight, Strategic Link.