In separate letters, CUNA and NAFCU both urged the House Financial Services Committee to raise the cap on member business loans.
"America's credit unions and their 93 million members stand ready to be part of the solution to the economic problems our nation faces. To that end, we encourage you to make increasing the credit union member business lending cap a key part of the committee's plan to promote economic recovery and job creation," CUNA President/CEO Bill Cheney wrote the panel.
NAFCU Executive Vice President B. Dan Berger stressed the benefits to the overall economy from raising the cap.
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