Search
 

Royce's New Bill Tips MBL Cap

Bill introduced Thursday by Rep. Ed Royce (R-Calif.) excludes 1- to 4-family residence loans from MBL cap.

By Nicholas Ballasy | Updated on March 13, 2014

Rep. Ed Royce (R-Calif.), introduced a bill on Thursday that would provide relief for credit unions by lifting the member business lending cap for certain residential loans.

“The Credit Union Residential Loan Parity Act is a common sense fix that frees up more than $5 billion in additional capital for small businesses and job creation. The bill treats loans financing the purchase of a 1-4 unit building as real estate loans rather than business loans; as they are currently treated by banking regulators,” Royce told CU Times.

“It also provides meaningful relief to credit unions running up against the business lending cap, and increases the availability of rental housing,” he added.

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:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 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.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.