Reps. Ed Royce (R-Calif.) and Greg Meeks (D-N.Y.) reintroduced the Credit Union Small Business Jobs Creation Act March 2. The bill would raise the credit union member business loan cap from 12.25% to 27.5% of assets for eligible institutions.
Both CUNA and NAFCU support the bill.
The language of the legislation is similar to a bill introduced in the last Congress by Royce and Rep. Carolyn McCarthy (D-N.Y.) to raise the cap.
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