Congress is recognizing that in just two weeks, 4,000 credit union leaders will be in Washington for CUNA’s Governmental Affairs Conference. As a result, credit union legislative activity is heating up. We’re hearing Reps. Peter King (R-NY) and Brad Sherman (D-CA) plan to re-introduce their capital reform bill soon, perhaps even next week. It will be similar to last year’s bill, authorizing NCUA to permit new sources of supplemental capital and taking care to ensure credit unions’ not-for-profit, cooperative structure is unaffected. We also anticipate Rep. Ed Royce (R-CA) and Sen. Mark Udall (D-CO), either before or during the GAC, will re-introduce their bills raising the MBL cap. To read more, sign-up for the CUNA Cheney Report HERE
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Austin De Bey