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Representatives of CUNA and NAFCU are using appearances at today’s joint hearing of two House committees to press their case for raising the cap on member business lending from 12.25% of assets to 35%, a move they say will enable credit unions to do more to help jumpstart the economy.

Mid-Atlantic Federal Credit Union President/CEO Rick Wieczorek pointed out that his credit union is going hit the 12.25% cap soon and “we may soon face a situation where our efforts [to help businesses] are curtailed arbitrarily.”

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