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Gov. Kaine Tells League, CUs He’d Support Raising MBL Cap

Representatives from the League and credit unions met with Gov. Tim Kaine in Richmond on Tuesday to discuss key credit union issues.

The highlight of the meeting was Gov. Kaine’s support for raising the member business cap, noting that he considered it a small business and credit availability issue.

Both Kaine and his Republican opponent, Gov. George Allen, are seeking the League’s endorsement as they vie to win the U.S. Senate seat of the retiring Jim Webb.

“We appreciated the opportunity to hear directly from Gov. Kaine on where he stands on a number of key credit union issues, including member business lending, regulatory burden and supplemental capital,” said League President Rick Pillow.

The League and credit unions have already met with Gov. Allen. The League Board will ultimately make a decision on which candidate to endorse.

Tags: federal law, MBL, MBLs, Member Business Lending, SB 2231

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