The Senate will vote early next week on S. 3637, a bill that has been seen as a possible companion for MBL legislation that would extend TAG coverage for banks. “The status of our MBL bill on Capitol Hill remains very fluid,” NWCUA President and CEO Troy Stang said. “The situation is evolving hourly.”
Anticipating a lame-duck Senate vote on legislation to increase the MBL cap, CUNA has called for a national fly-in the week after Thanksgiving to make a timely push with legislators. According to Bill Cheney, “This is likely our last chance to really make an impact on this legislation for this Congress.”
Sen. Harry Reid reiterated his commitment to giving the credit union MBL bill a vote on the Senate floor during the lame-duck session. Credit unions now have an opportunity for advocacy with Congress in recess and the legislators campaigning in their home districts.
Sen. Jeff Merkley touched on his support for the MBL bill and outlined his plan for rejuvenating the housing market during Thursday morning’s general session at the NWCUA’s Convention.
U.S. Senate majority leader Harry Reid to Congress: “Democrats and Republicans are going to have to make a decision on where they stand for American credit unions.”