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Michigan Credit Union League Home » Information Services » Publications » News Articles  

MCUL Editorial on MBL Hits Huffington Post   (Misc News: April 2, 2012)

An editorial written by MCUL & Affiliates CEO David Adams urging Congress to support the credit union member business lending legislation is featured in one of the most widely read online publications.

The piece, which touts the many benefits the economy would see if this legislation is enacted, is now on the Huffington Post website, an active community of news and blogs which receives more than one million comments each month.

In the editorial, Adams advocates for swift passage of S. 2331, the Credit Union Small Business Jobs Bill. “This one simple move would free up an estimated $13 billion in additional capital and create over 140,000 new jobs in the U.S. And for once, this legislation would not cost taxpayers a dime. No TARP. No HARP. No bailouts. Just commonsense legislation that frees up capital for businesses,” he writes.

It’s expected that the Senate will take up the legislation when Senators return from spring recess, perhaps as soon as April 16. The bill has the support of both Michigan senators, and its companion legislation in the House is cosponsored by nine of Michigan’s 15 U.S. representatives. Adams goes on to explain that the only opposition to the bill is from the bankers. “Banks need more competition, not less. Let's stop giving the banks every type of legislation they have ever wanted and instead, stand up to their self-serving objections by urging swift passage of S. 2231.”

Click here to read Adams’ full editorial.

MCUL continues to urge credit unions to contact members of Congress to speak out about the importance of the MBL legislation. The league invites credit union executives to visit the MCUL CapWiz website to send a letter thanking their congressman for his or her sponsorship or to another of the state’s congressmen who are not currently co-sponsors. Michigan congressmen who are not currently on the bill are: David Camp, R-Midland; Dan Benishek, R-Iron Mountain; Tim Walberg, R-Tipton; Justin Amash, R-Cascade Township; Mike Rogers, R-Brighton, and John Dingell, D-Dearborn.

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