WASHINGTON — NCUA Chairman Debbie Matz told a panel of skeptical senators Thursday that raising the cap on member business loans would actually improve credit unions' risk environment while creating more jobs,
She said at a hearing of the Senate Banking Committee that legislation introduced by Sen. Mark Udall (D-Colo.) to raise the cap from 12.25% to as much as 27.5% of assets would "give credit unions an opportunity to prudently grow their portfolios.''
In response to a question from the panel's top Republican, Sen. Richard Shelby (R-Ala.) Matz said that that allowing credit unions to make more business loans would actually allow them to "diversify their portfolios and improve safety and soundness.'
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