Sens. Dan Sullivan (R-Alaska) and Mazie Hirono (D-Hawaii) introduced a bill on November 12 to exempt loans made to veteran-owned businesses from a credit union’s member business lending (MBL) cap, the Veterans Member Business Loan Act (S. 2834).
The MBL cap is 12.25 percent of assets.
A similar bill was introduced earlier this year in the House of Representatives.
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