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New Credit Union Bill Introduced to Expedite Senate Floor Consideration

Posted on 3/26/2012

The NDBA-opposed credit union legislation was reintroduced in the Senate last week as a way to bypass the normal committee process and allow the bill (now S. 2231) to be brought directly to the Senate floor at any time. Majority Leader Harry Reid (D-NV) has not announced a timeframe for consideration of this legislation, and it is likely to be subject to a 60 vote threshold if it is brought up for consideration.

NDBA is urging North Dakota bankers to contact Senators Conrad and Hoeven in opposition to this latest version of the legislation, which would raise the member business-lending cap for certain large credit unions from 12.25 percent to 27.5 percent of total assets.

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