MBL Measure Not on Roster of Panel’s Job Creation Bills
The House Financial Services Committee plans to vote this week on several bills it says will spur job creation and ease the regulatory burden on businesses.
One approach the committee isn’t taking up this week is raising the cap on member business loans.
The panel, which held a hearing on the measure in October, hasn’t scheduled a markup of the legislation. A similar hearing was held by the Senate Banking Committee last June and that panel hasn’t held a markup of the bill either. Both the House and Senate versions would raise the cap from 12.25% of assets to as much as 27.5% of assets. Last week, CUNA tried to increase interest in the measure by sponsoring a Hike the Hill with several small business groups.
The bills that the panel is scheduled to consider include mandating the Securities and Exchange Commission to do cost benefit analyses of regulations and one requiring the Consumer Financial Protection Bureau to preserve the confidentiality of privileged information it receives from financial institutions, as other banking regulators do.