Rep. Bruce Braley's (D-Iowa), co-sponsorship of legislation that would increase the member business lending cap, is getting high marks from the state's credit unions.
Braley is a co-sponsor of the Small Business Lending Enhancement Act (H.R. 1418), which would raise the MBL cap from 12.25% to 27.5% of assets.
In Iowa, several credit unions are at or near the cap and restricted from making further business loans, said Andy Hawkinson, president/CEO of the $495 million DuTrac Community Credit Union in Dubuque, Iowa.
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