NCUA Chairman Debbie Matz is reiterating her support for raising the cap on member business lending and on Thursday promised lawmakers that her agency would beef up its enforcement to manage the additional risks to the credit union system.
In testimony prepared for delivery at a Senate Banking Committee hearing Matz said the existing limits "often inhibit credit unions from meeting the financial needs of credit-worthy members who are self-employed or small business owners.''
Matz endorsed legislation sponsored by Sen. Mark Udall (D-Colo.) that would raise the cap from 12.25%of assets to as much as 27.5%.
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