Veterans Member Business Loan Act

# Veterans Member Business Loan Act (HR 507) – Summary **What the Bill Does** This bill would modify federal regulations governing credit unions by exempting loans made to veterans from the aggregate loan limits that credit unions must follow. Currently, credit unions operate under caps on how much they can lend for business purposes. This bill would create an exception, allowing credit unions to make larger business loans to veterans without counting those loans toward their regulatory limits. **Who It Affects** The primary beneficiaries would be veterans seeking business loans through credit unions.

Credit unions themselves would also be affected, as they'd gain more flexibility in lending to this specific group. The change could indirectly impact non-veteran borrowers, depending on how credit unions allocate their remaining lending capacity. **Current Status** The bill was introduced in the 119th Congress by Representative Vicente Gonzalez (D-TX) and is currently in committee, meaning it has not yet advanced to a full House vote. No further action has been taken at this time.