On a party-line vote, the House today passed a bill aimed atstimulating lending to small businesses, following a Senate votelast week.
|The bill, which passed 237-187, creates a $30 billion fund thatcommunity banks can tap into to make small business loans.
|The NCUA, CUNA and NAFCU unsuccessfully attempted to persuadesenators to consider an amendment that would have raised the cap onmember business loans from 12.25% of assets to 27.5%. The amendmentwasn't among those allowed to be offered. To expedite passage inthe House, lawmakers didn't allow any amendments in thatchamber.
|President Obama is scheduled to sign the bill on Monday.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
