Credit Unions Tap Rand Paul

Credit Unions Tap Rand Paul

Add another name to the list of groups who want Kentucky Sen. Rand Paul at their event.

Paul has been added to the National Association of Federal Credit Unions (NAFCU) caucus conference.

Reports Marc Rapport of Credit Union Times:

“Several more lawmakers well known to the credit industry have been added this week to the speaker lineup for the Congressional Caucus set by NAFCU for Sunday through Wednesday at the Mayflower Renaissance Hotel in Washington, D.C….Paul is GOP lead cosponsor of S. 968, the ‘Small Business Lending Enhancement Act of 2013.’”

The bill would allow an insured credit union to take on more member business loans – up to 27.5 percent of the credit union’s total assets. That number is currently capped at 12.25 percent. Essentially, credit unions would have a longer rope to work with when lending out money.

The credit union would only be allowed to increase that percentage if it meets certain conditions.

Paul will be one of a number of Congressmen (21 in total) speaking at the conference, almost all of whom sit on a finances committee of some sort.

While Paul has been occupied with foreign relations, Syria, and and Constitution recently, an invitation to a conference from a well-respected financial services caucus speaks volumes about how Paul is viewed in the financial industry. Which is clearly pretty highly, if he’s speaking on the conference’s final day (Sept. 11).

Paul is a member of the Committees on Foreign Relations, Health, Education, Labor and Pensions (HELP), Homeland Security and Government Affairs and Small Business and Entrepreneurship.

And yes, he’s busy. But NAFCU thinks highly enough of him that they wanted him at their conference.

What do you think of Rand Paul’s belief in small business?




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