Status
The Member Business Loan Expansion Act (H.R.4868) was introduced in the House and referred to the House Committee on Financial Services on July 23, 2023.
Our Position
DCUC is working with our fellow trades in supporting this legislation.
Background
This bill revises requirements related to the terms and lending limits of certain credit union loans.
Specifically, the bill (1) allows the National Credit Union Administration Board to lengthen the maturity term of certain loans made by a credit union and (2) raises the credit limit for credit union member businesses under which such loans are excluded from overall credit union lending limits.
Finally, the bill expands the definition of a community financial institution by (1) allowing insured credit unions to qualify and (2) raising the average asset limit. (Community financial institutions are subject to reduced asset requirements for purposes of Federal Home Loan Bank membership.)
Resources
Handouts of DCUC's current advocacy priorities are available for download. These handouts include information on each advocacy priority and talking points you can use when contacting your state representatives and senators.
The Member Business Loan Expansion Act (H.R.4868) was introduced in the House and referred to the House Committee on Financial Services on July 23, 2023.
Our Position
DCUC is working with our fellow trades in supporting this legislation.
Background
This bill revises requirements related to the terms and lending limits of certain credit union loans.
Specifically, the bill (1) allows the National Credit Union Administration Board to lengthen the maturity term of certain loans made by a credit union and (2) raises the credit limit for credit union member businesses under which such loans are excluded from overall credit union lending limits.
Finally, the bill expands the definition of a community financial institution by (1) allowing insured credit unions to qualify and (2) raising the average asset limit. (Community financial institutions are subject to reduced asset requirements for purposes of Federal Home Loan Bank membership.)
Resources
Handouts of DCUC's current advocacy priorities are available for download. These handouts include information on each advocacy priority and talking points you can use when contacting your state representatives and senators.