Reps. Ed Royce (R-Calif.) and Greg Meeks (D-N.Y.) reintroduced the Credit Union Small Business Jobs Creation Act March 2. The bill would raise the credit union member business loan cap from 12.25% to 27.5% of assets for eligible institutions.
Another piece of credit union legislation is introduced before CUNA's Governmental Affairs Conference.
The House Financial Services Committee passed the Protecting American Taxpayers and Homeowners Act July 24 by a vote of 30-27.
House panel passes measure to eliminate Fannie Mae and Freddie Mac, largely privatize secondary mortgage market.
Measure similar to proposed legislation in House, would raise cap to 27.5% of assets.
California Republican Ed Royce and co-sponsoring Democrat Carolyn McCarthy of New York bring MBL cap-raising bill back for 2013 session.
WASHINGTON—The political pitch to raise the credit union member business lending cap are claims that doing so will spur job growth. According to credit union executives that attended this year’s Governmental Affairs Conference, that claim is more than just wishful thinking.
WASHINGTON — With legislation to raise the cap on member business loans languishing in committee, CUNA reached out to business groups to help make its case.
Congressmen and businessmen got together on Capital Hill to call for a lifting of the member business lending cap for credit unions.
WASHINGTON — Industry lobbyists brought in business owners to tell their stories on Wednesday.