Thursday, January 3, 2013

Another Congress, No Action on CU Business Lending Bill

The 112th Congress has left town without taken any action on the credit union business lending bill.

This is the fifth consecutive Congress, where the credit union lobby has sought expanded business lending authority for credit unions and came up empty.

I suspect that legislation to expand the business lending authority for credit unions will be re-introduced, when the 113th Congress convenes.

But I don't know why credit unions should believe that the outcome will be any different this time around. As Albert Einstein once said, "[t]he definition of insanity is doing the same thing over and over again and expecting different results."


  1. Keith,
    you may very well be right....we do need to stop doing the same thing over and over. But, we may have learned something in the process of stopping TAG. Perhaps we should work to prevent every bill that helps the bankers from now on. After non of us get what we want for awhile, then maybe we can learn to work together to pass legislation we each need.

  2. Counterpoint from another great...
    I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed. — Michael Jordan

  3. How many Congresses did it take for the banks to lose the Glass–Steagall Act? How long did it take for banks to finally get interstate banking?

    Getting things thru Congress takes time. Sometimes decades.

  4. Comparing cuna to michael jordan.
    Comparing mbl relief to glass-st or interstate banking.
    Shows how truly mis-focused cuna (cu not accountable) is.
    Demonstrates how terrible it is that we dont hold them accountBle. No wonder some of the best and biggest have disaffiliated.
    And mbl isnt even the top priority!!!



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