Lending Cap, SBA Focus of House Hearing With Two CU CEOs Scheduled
Two credit union executives will testify regarding credit unions’ work with the Small Business Administration and the difficulties posed by the credit union member business loan cap in a House subcommittee hearing on Thursday.
Robert Marquette, president and CEO of the $2.2 billion Members 1st Federal Credit Union of Mechanicsburg, Pa., will speak on behalf of NAFCU, and Brett Martinez, president and CEO of the $2 billion Redwood Federal Credit Union of Santa Rosa, Calif., will testify on behalf of CUNA.
The Subcommittee on Investigations, Oversight and Regulations hearing will address regulatory burdens associated with lending to small businesses. It will place special emphasis on the management of the Small Business Administration’s financial assistance programs.
The panel, chaired by Rep. Mike Coffman (R-Colo.) is looking for input on the current state of small business lending and how the SBA could improve processes to make programs run more efficiently.
Two bank representatives will also testify during the hearing, which is scheduled for 10 a.m.