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.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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.
