FOM modernization, ILC loophole legislation scheduled for markup

The House and Senate are both in Washington, D.C., this week. The House Financial Services Committee will mark up several CUNA-supported bills Tuesday, including the CUNA-League-supported Expanding Financial Access for Underserved Communities Act (H.R. 7003).

H.R. 7003 would:

  • Allow all federal credit unions to add underserved areas to their field of membership.
  • Exempt business loans made by credit unions in underserved areas from the credit union member business lending cap.

 

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