H.R. 507In committeeJobs & the economy
Business loans to veterans would no longer count against credit union lending caps
Data as of July 11, 2026
HR 507 exempts veteran business loans from the 12.25% federal credit union lending cap, taking effect six months after signing.40-second read · 4 questions answered below
Decoded
What does this do?
Federal credit unions are currently capped at lending 12.25% of their assets in member business loans. HR 507 removes veteran business loans from that calculation entirely, so those loans no longer count toward the cap. The change would take effect six months after the bill is signed into law.
Who does it affect?
Veterans who are members of a federal credit union and want to start or grow a business would be directly affected. Federal credit unions that serve veterans would also gain more flexibility in how much they can lend.
Why does it matter?
Under current law, credit unions near their cap must turn away business loan applicants. Excluding veteran loans from the count creates additional room within the same cap, which changes how many business loan applications a credit union can approve.
Where does it stand?
- Introduced
- House committee — You are here
- House vote
- Senate
- President's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
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Official title
Veterans Member Business Loan Act
- Introduced:
- January 16, 2025
- Latest action:
- January 16, 2025
Referred to the House Committee on Financial Services.
Read the official bill on Congress.govMake the call
Three steps: where you stand, your script, the call.