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NAFCU and CUNA on Tuesday urged passage of a bipartisan bill filed in the House which once again attempts to raise loan term limits and exclude more loans from the Member Business Lending cap.

The bill filed by Brian Fitzpatrick (R-Pa.) and Vicente Gonzalez (D-Texas) would drop language that limits most credit union loans to terms of 15 years or less, and instead allow NCUA to set limits at its discretion. First mortgages for primary residences are already excluded from those limits, but credit unions want to be able offer longer-term loans of 20 to 30 years for second homes and commercial loans, either as first lien or second lien.

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Jim DuPlessis

A journalist for decades.

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