Pascrell Signs-On MBL Reform, Call-to-Action Continues

Posted by Marissa Anema Wednesday, December 14, 2011 10:50:00 AM

WASHINGTON – Congressman Bill Pascrell (D-8) yesterday told N.J. credit union advocates meeting at Credit Union House that he had added his name as a co-sponsor to the Small Business Lending Enhancement Act (H.R. 1418), which would increase the credit union member business lending (MBL) cap.

Pascrell was an MBL reform co-sponsor in the 111th Congress.

In addition to Pascrell, N.J. delegation members Andrews (D-1), Holt (D-12), Pallone (D-6), Rothman (D-9), and Payne (D-10) have added their names to the bill since the 112th Congress convened in January. Rep LoBiondo’s office informed NJCUL last week that he was adding his name to the bill, which he confirmed during yesterday’s NJ Day at Credit Union House.

Once LoBiondo’s paperwork is completed, seven out of N.J.’s 13-member House delegation will have added their names to the bill, a net gain of one over the last Congress.

“We will continue to recruit co-sponsors, and leave no stone unturned,” said NJCUL President/CEO Paul Gentile. “Now that we’ve secured all our past sponsors, we’re setting our sights on getting additional new names on the bill."

The nationwide MBL reform Call-to-Action continues. New Jersey credit union professionals, volunteers, and members are urged to visit NJCUL’s Web site where they can easily send a pre-drafted email or letter to their Washington lawmakers in support of MBL reform. New Jersey’s active participation is very important because Senator Robert Menendez (D) and Congressman Scott Garrett (R-5) serve on committees that will prove key weigh-stations for the legislation.

The NJCUL Online Grassroots Action Center is available at: www.capwiz.com/cuna/nj/home

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