WASHINGTON — The key sponsor of a bill to raise the cap on member business lending said today it won't be a part of a small business lending bill that the House will take up next week.
"They are fast-tracking the Senate bill and not allowing amendments," Rep. Paul Kanjorski (D-Pa.) said in response to a question from Credit Union Times after a speech to NAFCU's Congressional Caucus.
The small business lending bill was passed by the Senate last week and includes a $30 billion loan fund for community banks. Senate leaders declined to allow an amendment to raise the cap on MBLs from 12.25% to as much as 27.5% of assets.
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
Already have an account? Sign In Now
© 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.
