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Kelly testifies against upping credit unions' business-lending cap

ABA Chairman-Elect – and president and CEO of SpiritBank in Bristow – Albert "Kell" Kelly testified before the House Financial Services' Financial Institutions Subcommittee on Oct. 12 and strongly opposed a bill that would raise the member business-lending cap for qualifying credit unions from 12.25 percent to 27.5 percent of total assets.

Kelly went on to say that credit unions seeking to expand their business lending have the option to convert to a mutual savings bank charter.

You can read his full testimony by clicking here.

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