NCUA Chairman Debbie Matz told a House panel on Wednesday that raising the cap on member business loans in a way outlined in current legislation would help credit unions and small businesses and do so in a safe and sound manner.
She said the legislation, with the agency's promise to beef up its regulation of business lending, will result in a structure that "prudently protects safety and soundness."
Matz made her remarks in testimony prepared for delivery at Wednesday afternoon's hearing of the House Financial Services Committee's Subcommittee on Financial Institutions and Consumer Credit. She endorsed the legislation just as she endorsed a companion bill in the Senate when she testified before the Senate Banking Committee in June.
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