Bill · S. 110· Senate(119-S-110)
Veterans Member Business Loan Act
- Introduced
- 1/16/2025
- Last activity
- 1/16/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Dan Sullivan
- Cosponsors
- - 0 - 4
- Introduced
- In Committee
What this bill would do
This bill, titled the "Veterans Member Business Loan Act," aims to amend the Federal Credit Union Act. It seeks to change the definition of a member business loan by excluding extensions of credit made to veterans. Specifically, it adds a provision that excludes loans made to a veteran from the current definition. The term "veteran" will be defined according to the meaning given in section 101 of title 38, United States Code. These changes are set to take effect 180 days after the act is enacted.
Yes· 3 of 7
Would veterans be better off under this, taking everything together?+4
The bill specifically benefits veterans by facilitating easier access to credit through credit unions.
Does this make it easier to run a small business?+3
The bill eases credit access for veterans by altering how credit union loans are categorized under the Federal Credit Union Act.
Does this increase the pay, pensions or support veterans receive?+3
The bill expands financial opportunities for veterans by changing the regulatory definition of loans available through credit unions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Exclusion of veteran loans from member business loan definitions: This provision seeks to exclude extensions of credit made to a veteran from the definition of a member business loan under Section 107A(c) of the Federal Credit Union Act (Section 2(a)).
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Veterans+4Good For Middle Class Households+2Good For Low Income Households+1
- Economy And Finance
- Improves Small Business Support+3Increases Job Creation+2
- National Security And Foreign Policy
- Improves Veterans Benefits+3
- Social Issues And Justice
- Improves Poverty Reduction+1
- 4/30/2025
- 1 Cosponsor added.
- 3/25/2025
- 1 Cosponsor added.
- 3/12/2025
- 1 Cosponsor added.
- 1/16/2025
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Christopher CoonsDemocrat · Delaware
Mazie HironoDemocrat · Hawaii
Jeff MerkleyDemocrat · Oregon
Sheldon WhitehouseDemocrat · Rhode Island