NAFCU hails Rep. Miller’s reintroduction of legislation excluding veterans’ loans from MBL cap

WASHINGTON, DC (March 2, 2015) — National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger today hailed Rep. Jeff Miller, R-Fla., chairman of the House Veterans Affairs Committee for his leadership by reintroducing a bill Thursday that would exclude veterans’ loans from the statutory credit union member business lending (MBL) cap.
“This legislation will remove barriers to credit unions’ efforts to provide veterans with more economic opportunity,” said Berger. “We thank Chairman Miller for his leadership on this issue and look forward to working with him, his staff and the bill’s cosponsors toward passage of this legislation.”

The bill’s cosponsors are Reps. Pete Aguilar, Julia Brownley, Jared Huffman, Ted Lieu and Mark Takano, all D-Calif.; Tom MacArthur, R-N.J.; Dina Titus, D-Nev.; and Lee Zeldin, R-N.Y.

The bill, H.R. 1133, is the same proposal Miller offered last July – would advance a key element of NAFCU’s five-point plan for credit union regulatory relief. It would cover loans to any veteran who served on active duty and was discharged or released under conditions other than dishonorable.

The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.

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