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Credit Union Amendment ‘Very Controversial,' Sen. Johnson Says

Posted on 3/20/2012

An amendment to the jobs package by Sen. Mark Udall (D-CO) that would more than double the business-lending cap for a select group of large credit unions is "very controversial," Senate Banking Committee Chairman Tim Johnson (D-SD) said on the Senate floor yesterday.

"The Banking Committee has held a hearing on this issue, and…this is a very controversial matter," Chairman Johnson said. "From the testimony of the witnesses at the Banking Committee hearing and the ongoing conversations over the past months, it is clear there is no consensus. If the Senate chooses to move forward on this issue, I urge the Senate to move forward carefully."

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