releases: http://royce.house.gov/news/documentsingle.aspx?DocumentID=397858
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| http://royce.house.gov/news/documentsingle.aspx?DocumentID=397858 | Royce Pushes Credit Union Lending Regulatory Relief | 2015-12-06 | 2015 | 2015-12 | Republican | House | CA | Edward Royce | R000487 | royce.house.gov | legacy | Today, U.S. Representative Ed Royce (R-Calif.) spoke in support of credit union lending regulatory relief and presented an amendment mirroring his previously introduced legislation, H.R. 1422 or the Credit Union Residential Loan Parity Act, during a House Financial Services Committee markup: "This amendment mirrors legislation Ive introduced, H.R. 1422 or the Credit Union Residential Loan Parity Act. What I'm doing here is drawing attention to the need for credit union regulatory relief and hopefully I'm not belaboring the point. If I could point out again, the Credit Union Residential Loan Parity Act makes a small but significant change to the MBL cap calculation for credit unions. And that change alone unleashes $11 billion in capital for small businesses, and would do that of course without costing taxpayers a dime. This discussion is especially timely considering the Wall Street Journals recent report on the biggest banks in the U.S. making far fewer loans to small businesses and ceding market share to alternative, non-bank lenders that frankly charge significantly higher rates," said Rep. Royce. "Credit unions, if I could wrap up here, have a history of stepping into the small business lending space at times of economic hardship. The SBA finds that 80% of new credit union lending beyond the current cap would go to small businesses. We should allow them to do more. Mr. Chairman, I appreciate your continued interest in this issue and I look forward to working with you to advance credit union regulatory relief. With that, I ask that the amendment be withdrawn Mr. Chairman and I yield back," concluded Rep. Royce. Rep. Royce and Rep. Jared Huffman (D-Calif.) introduced H.R. 1422, the Credit Union Residential Loan Parity Act, on March 18, 2015. Specifically, the bill removes loans made for the purchase of non-owner occupied, 1-4 unit dwellings from the calculation of the member business lending (MBL) cap currently imposed on credit unions.Importantly, the bill maintains the ability of the National Credit Union Administration (NCUA) to apply stringent underwriting and servicing requirements to these loans, which often depend on rent as a chief contributor towards repayment. Rep. Royce is also the author of H.R. 1188, the Credit Union Small Business Jobs Creation Act.The bill increases the member business lending (MBL) cap for qualified credit unions from 12.25% to 27.5%. To qualify for the higher cap a credit union must be well capitalized, have a history of member business lending experience, be operating near the cap for at least one year, and receive approval by the NCUA. Watch Rep. Royce's remarks during debate on H.R. 2287, or the National Credit Union Administration Budget Transparency Act, at the markup here or by clicking on the image below: | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |