WASHINGTON – Credit unions will get to make their case next month about why they should have the cap raised on member business loans from 12.25% to 27.5%.
Rep. Shelley Moore Capito, chairman of the House Subcommittee on Financial Institutions and Consumer Credit, said Wednesday that her panel will hold a hearing "sometime in October" on the legislation as it looks at ways to jumpstart the economy and create more jobs
The West Virginia Republican made her announcement during a speech at NAFCU's Congressional Caucus in the Mayflower Hotel, but in a subsequent interview with Credit Union Times she said she still hasn't decided whether to support the bill, which is sponsored by Reps. Ed Royce (R-Calif.) and Carolyn McCarthy (D-N.Y.).
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