|
December 23, 2009 -
A bill to increase credit union member business lending (MBL) was introduced in the Senate, a companion bill to H.R. 3380, Promoting Lending to America’s Small Businesses Act of 2009.
Both bills would increase credit union MBL to 25 percent of assets and raise the threshold for a MBL to $250,000. The legislation in both chambers would also exempt loans made to non-profit religious organizations and as well as loans made in qualified underserved areas.
S. 2919 was introduced by Sen. Mark Udall (D-Colo.) and co-sponsored by Sens. Charles Schumer (D-N.Y.), Barbara Boxer (D-Calif.), Joseph Lieberman (I-Conn.), Olympia Snowe (R-Maine), Susan Collins (R-Maine) and Kirsten Gillebrand (D-N.Y.)
H.R. 3380, introduced by Rep. Paul Kanjorski (D-Pa.), has 48 co-sponsors. It has been referred to the House Financial Services Committee. The Senate bill, S. 2919, has been referred to the Senate Banking Committee.
|
 |
|
|
NASCUS News Story Archive
Pressroom |
