Tuesday, November 12, 2019

Bill Would Exempt Veteran-Owned Businesses from MBL Cap

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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