The congressional effort to raise the member business lendingcap rides again.

Rep. Ed Royce (R-Calif.) announced Thursday he hasre-introduced legislation that would increase the MBL cap forcredit unions to 27.5% of assets.

H.R. 688, co-sponsored by Rep. Carolyn McCarthy, D-N.Y., has been described by creditunion trade associations as having very similar language to lastyear's House version, H.R. 1418. Royce and McCarthy have alreadyrecruited 34 additional co-sponsors for the bill, according to anannouncement from Royce.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 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.