Search Results: keywords:"veterans loans"

  • S. 110 — To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan.
    Status:Introduced in Senate
    Words:379

    S. 110, known as the “Veterans Member Business Loan Act,” is a bill introduced in the 119th Congress to change how credit unions define a member business loan. It aims to exclude loans made to veterans from being categorized as member business loans under the Federal Credit...

    Simple Explanation

    S. 110 is a bill that wants to help veterans by allowing credit unions to give them loans without counting these loans as "business loans," which have limits. This way, credit unions can lend more money to veterans without worrying about hitting their business loan cap.

  • H. R. 507 — To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan.
    Status:Introduced in House
    Words:459

    H. R. 507, known as the “Veterans Member Business Loan Act,” seeks to amend the Federal Credit Union Act to change how loans given to veterans are classified. The bill proposes that any credit extended to veterans should not be and is no longer considered as part of "member...

    Simple Explanation

    Imagine there's a rule for lending money from a piggy bank that can only be used for kids' lemonade stands. Now, this new bill wants to change the rules so when the piggy bank lends money to a kid who was in the army, it doesn't count as a lemonade stand loan. This should help those army kids get more money easily.