Legislation that would exempt certain housing loans from the member business lending cap will be introduced this week, Rep. Ed Royce (R-Calif.) told 2014 Credit Union National Association Governmental Affairs Conference attendees this morning. The bill, known as the Credit Union Residential Loan Parity... More
Two key pieces of legislation that would enhance the credit union charter were introduced in the U.S. House last Thursday: One bill (H.R. 688) would address the credit union member business lending (MBL) cap, and another (H.R. 719) would improve credit unions’ access to secondary capital.
WASHINGTON (UPDATED: 2/14/13, 12:15 p.m. ET)--Rep. Ed Royce (R-Calif.) today reintroduced legislation (H.R. 688) that would increase the credit union member business lending (MBL) cap to 27.5% of assets, from the current 12.25%-of-assets level, and the Credit Union National Association in a letter thanked... More