Oppose Credit Union Member
Business Lending
Undaunted by their unsuccessful push for a higher business lending cap in the previous Congress, the credit union industry has wasted little time reintroducing member business lending legislation; deceptively recast as the Credit Union Small Business Jobs Creation Act. Introduced again in the House by Reps. Ed Royce (R-CA) and Carolyn McCarthy (D-CA), the bill (H.R. 688) raises the cap on member business loans that a credit union can make to 27.5% of assets, up from 12.25. At the present time, only the House version has been introduced. ICBA expects a Senate version to be introduced in the future, and will update accordingly.
Contact your lawmakers and make sure they know that your bank stands firmly in opposition to ANY expansion of credit union business lending powers.
Credit Union Member Business Lending Advocacy Resources
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Contact
Brian R. Anderson
Director, Congressional Advocacy
Independent Community Bankers
of America
1615 L St, NW
Washington, DC 20036
Phone: (800) 422-8439
Email: brian.anderson@icba.org
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