Sens. Dan Sullivan (R-Alaska) and Mazie Hirono (D-Hawaii) introduced a bill today to exempt loans made to veteran-owned businesses from a credit union’s member business lending cap. The bill, S. 2834, would exempt loans made to veterans from counting against a credit union’s member business lending cap.
“This bipartisan bill will make it easier for America’s veterans to access credit and invest in their future and their communities. Credit unions proudly serve tens of millions of active duty and veteran members and fully support veteran entrepreneurs and their families," said CUNA President/CEO Jim Nussle. "We thank Sens. Sullivan and Hirono for their leadership on this issue, and look forward to engaging with lawmakers as this bill moves through the legislative process.”
This bill is the Senate companion to H.R. 2305, introduced earlier this year by Reps. Vicente Gonzalez (TX-15), Paul Cook (CA-08), Tulsi Gabbard (HI-02), and Don Young (Alaska).