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JOBS Act Shows Banks Still Have Clout

“The case we’re making is that we have something that puts money in the hands of small businesses,” said Brad Thaler, vice president of legislative affairs for the National Association of Federal Credit Unions. “We think it should be included in the package ... or be offered as an amendment on the floor.”

But Ballentine said that adding the credit union business lending matter to the JOBS Act would make “a noncontroversial bill more of a controversial effort,” and he has been urging Senators not to side with the credit unions.

One well-placed lobbyist said that both Reid and Sen. Charles Schumer (D-N.Y.) are working to get a bill, but that some “Republicans will be upset that it’s not going through the [Banking] Committee.”

“Republicans are generally OK with these bills,” this lobbyist said. “But going through the committee would take time, and the leadership is trying to keep the bill clean.”

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