Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
NEW: Royce to intro new MBL-related legislation this week
WASHINGTON (UPDATED: 9:25 A.M. ET, 2/25/14)--Legislation that would exempt certain housing loans from the member business lending cap will be introduced this week, Rep. Ed Royce (R-Calif.) told 2014 Credit Union National Association Governmental Affairs Conference attendees this morning.

The bill, known as the Credit Union Residential Loan Parity Act, would exempt one-to-four-unit non-occupied dwellings from the cap.

"We should take a closer look at [the MBL regulation] and where it doesn't work, fix it," Royce said.

"While this legislation is not a panacea to your biz lending woes it will provide relief," he added. The regulatory relief measure would also help increase affordable housing stock, Royce said.

These type of housing loans make up around 20% of CU MBL balances, he noted.

He asked credit unions to add a request for bill cosponsors to their list of asks when they hike Capitol Hill this week.

Do what you do best, "get some cosponsors," he said.


RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
5 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
6 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
8 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
8 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
11 hours ago