National Association of Federal Credit Unions (NAFCU) President and CEO
"We thank Chairman Miller for ensuring that veterans have access to all the resources possible to succeed after their service," said Berger. "Credit unions have always been a great resource for veterans, and this legislation will remove barriers to credit unions helping veterans succeed. We strongly urge other members of
Under H.R. 5061, "veteran" would include anyone who served on active duty, and who was discharged or released under conditions other than dishonorable. If enacted, his MBL measure would advance a key element of NAFCU's five-point plan (http://nafcu.pr-optout.com/Tracking.aspx?Data=HHL%3d8%2c71A0-%3eLCE18.37%403-GLCE17.6&RE=MC&RI=4277697&Preview=False&DistributionActionID=39593&Action=Follow+Link) for credit union regulatory relief.
NAFCU is urging an increase in credit unions' MBL cap from 12.25 percent of assets to 27.5 percent. It also supports exempting from the MBL cap loans made to non-profit religious organizations, businesses with fewer than 20 employees and businesses in "underserved areas."
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