Senators Announce Bipartisan bill to exempt COVID-19 MBLs from cap Senate introduces bill to exempt COVID-19 MBLs from cap, Nussle responds

May 11, 2020

May 8, 2020
Washington, DC

Lauren Williams
CUNA Communications

Credit Union National Association (CUNA) President/CEO Jim Nussle released the following statement Sen. Ron Wyden (D-Ore.) introduced a Senate companion bill Friday to a House bill that would exempt pandemic-related business loans from credit unions from the member business lending cap for one year. 

“As small businesses across the country face unprecedented economic hardships, expanding access to capital will be crucial to helping communities remain economically resilient in the face of this pandemic," said CUNA President/CEO Jim Nussle. "Sen. Wyden's proposal is a much needed solution that will leverage the strong relationships that credit unions have in their communities to help Main Street recover and rebuild from this crisis.”