Lawmakers on Capitol Hill last week again failed to bring up a proposal to raise the cap on member business loans.
The increase-which had been endorsed by the Obama administration-was caught up in election-year politicking in the Senate. At press time, it wasn't clear what form the small business lending bill was going to take, but lobbyists for CUNA and NAFCU said it was unlikely that the final bill would include the amendment to raise the cap from 12.25% of assets to 27.5% of assets.
Lawmakers from both parties were objecting to a main provision of the bill to set up a $30 billion fund to help community banks.
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