So far, three lawmakers have signed on as co-sponsors to the bill introduced yesterday by Reps. Edward Royce (R-Calif.) and Carolyn McCarthy (D-N.Y.) that would raise the cap on credit union member business loans from 12.25% to as much as 27.5%
The co-sponsors are Reps. Russ Carnahan (D-Mo.), Hank Johnson (D-Ga.) and Gary Peters (D-Mich.). There are 435 members of the House.
The measure is a companion measure to a bill introduced last month by Sen. Mark Udall (D-Colo.) Udall's bill has 18 co-sponsors in the 100-member Senate.
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