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119-s-110119th CongressWALLET

Veterans Member Business Loan Act

Sponsored By: Senator Sullivan, Dan [R-AK]

Introduced

Summary

This bill would exempt loans made to veterans from credit unions' aggregate member business loan limits. It adds "made to a veteran" into the member business loan rules and uses the veteran definition in 38 U.S.C. §101.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Veteran loans counted as business loans

This bill would change which loans count as member business loans at credit unions. Loans made to veterans would be added to the member business loan definition. The bill would define "veteran" by referring to section 101 of title 38, United States Code. If enacted, the change would take effect 180 days after enactment and could change reporting, rules, or limits that apply to those loans.

Sponsors & CoSponsors

Sponsor

Sullivan, Dan [R-AK]

AK • R

Cosponsors

  • Sen. Hirono, Mazie K. [D-HI]

    HI • D

    Sponsored 1/16/2025

  • Sen. Coons, Christopher A. [D-DE]

    DE • D

    Sponsored 3/12/2025

  • Sen. Merkley, Jeff [D-OR]

    OR • D

    Sponsored 3/25/2025

  • Sen. Whitehouse, Sheldon [D-RI]

    RI • D

    Sponsored 4/30/2025

Roll Call Votes

No roll call votes available for this bill.

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