|
 |
|
|
|
|
|
| Bipartisan Solutions to Promote Economic Growth |
|
The House Financial Services Committee hearing today will examine ways to promote economic growth, and a letter from America’s Credit Unions details several bipartisan policy solutions that would help increase credit union service to members.
Emphasizing how credit unions delivered $41.5 billion in benefits to consumers in 2025, the letter urges committee members to support the following bipartisan bills that would help credit unions increase financial wellness in more communities:
• Expanding Access to Lending Options Act (H.R. 4167), which would extend the statutory loan maturity limit for federal credit unions past the current 15-year maturity limit for loans other than primary mortgages;
• Minimizing Outdated Restrictions that Exclude (MORE) Opportunities for Homeownership Act (H.R. 7647) to update the definition of “community financial institution” in the Federal Home Loan Bank Act, to make it easier for smaller credit unions to join the FHLB system;
• Credit Union Investment Authority Act (H.R. 10082), to amend the Federal Credit Union Act to allow federal credit unions to invest in corporate debt and asset-backed securities;
• Increasing Credit Union Lending for Business Growth Act (H.R. 1791), to update the minimum threshold for what counts as a member business loan; and
• Veterans Member Business Loan Act (H.R. 507), to exempt loans to veteran-owned small businesses from the MBL cap.
The letter also encourages continued support for the Treasury’s Community Development Financial Institution (CDFI) Fund, a “bipartisan cornerstone for expanding access to capital in underserved communities.”
Copyright © 2024-2026 America's Credit Unions. (link) |
|
|
|
|
|
|
