WASHINGTON—America’s Credit Unions’ CEO Jim Nussle met with Rep. Scott Fitzgerald (R-WI) and Brian Fitzpatrick (R-PA) this week. Both members have introduced credit union supported legislation this year.
The association noted that Fitzgerald, along with Reps. Juan Vargas (D-CA), Young Kim (R-CA) and Brad Sherman (D-CA), introduced the Expanding Access to Lending Options Act (H.R. 6933) in January. It would allow federal credit unions to make loans with maturities up to 20 years. The current limit is 15 years.
Supportive Speech
Fitzgerald—a member of the House Financial Services Committee—also gave a speech on the House floor in January calling for support of H.R. 6933.
Fitzpatrick—a member of the House Ways and Means Committee—has introduced two recent pieces of credit union legislation:
- Veterans Member Business Loan Act (H.R. 4867) would exempt loans made to veteran-owned businesses from the member business lending cap
- Member Business Loan Expansion Act (H.R. 4868) would expand credit union business lending ability to $100,000 (up from the current $50,000) and allow federal credit union loan maturities past 15 years
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