Federal lawmakers have introduced three bills in the U.S. House of Representatives that would impact credit unions . The bills, introduced between February 14 and 15, deal with member business lending, supplemental capital, and privacy notification requirements.
The new member business lending bill (MBL) is. H.R. 688 and was introduced by U.S. Rep. Ed Royce (R-CA)on February 14 . It would lift the credit union member business lending cap to 27.5% of assets, from the current 12.25%.