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%.
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.
