Oregon MBL bill passes out of state House committee
SALEM, Ore. - The Technical Bill with Member Business Loans (H.B. 2775) passed out of the state House Business Labor and Consumer Affairs Committee March 20. The bill is expected to go to the floor of the House for a vote sometime this week. H.B. 2775 updates the Oregon Credit Union Act by deleting outdated and unnecessary language, including the removal of the $100,000 limit on amounts business and non-business organizations may borrow from a credit union. The Credit Union Association of Oregon expects the Oregon Bankers Association will propose amendments when the bill reaches a Senate committee.