WASHINGTON — NCUA Chairman Debbie Matz told a panel of skeptical senators that raising the cap on member business loans would actually improve credit unions' risk environment while creating more jobs.
She said at a June 16 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."
After Matz's testimony, credit union and bank representatives clashed on the wisdom of passing Udall's bill.
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