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

CUNA: Senate Vote on MBL Unlikely This Week   (Misc News: April 16, 2012)

A vote on member business lending is planned in the Senate, but is not expected this week.

With senators returning to Washington following the spring recess, CUNA officials said previously that a vote could take place any time after today, but Ryan Donovan, the group’s senior vice president of legislative affairs, told CUNA News Now that the vote was unlikely this week. The House and Senate are expected to remain in session through April 30.

That means there is still time to reach out to senators and representatives to ask them for their support or thank them if they are already signed up as co-sponsors on the bills in the House and Senate. Both of Michigan’s senators, Democrat Carl Levin of Detroit and Democrat Debbie Stabenow of Lansing, are already co-sponsors of the bill. In the House, nine of Michigan’s 15 congressmen are signed on as co-sponsors.

Those representatives not 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.

Click here to visit the MCUL & Affiliates CapWiz page to send thank you letters to those who are backing the bill as well as those who have not signed on yet.

Agendas for the next two weeks of the congressional calendar are still being developed, but a House Financial Services Committee vote is scheduled this week to address a deficit package that incorporates some changes to the Consumer Financial Protection Bureau and the National Flood Insurance Program, among other issues.

House MBL sponsor Rep. Ed Royce, R-Calif., has said that a vote in that chamber would follow a Senate vote.

But CUNA added that Congress could also take up other legislation that is important to credit unions:

  • A bill to permit the NCUA to allow credit unions to accept additional forms of capital, provided it does not alter the cooperative ownership structure of credit unions (H.R. 3993); and
  • A bill to ensure that credit unions and other entities or individuals that provide information to the CFPB would not waive their right to privacy protections (S. 2099).

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