H.R. 507 — Veterans Member Business Loan Act

This section amends the definition of member business loan to exclude any extension of credit made to a veteran (as defined in 38 U.S.C. 101). (Thus, such loans do not count toward the limit capping total member business loans outstanding at the lesser of 1.75 times actual net worth or 1.75 times the minimum net worth required to be well capitalized; the amendment takes effect 6 months after enactment.)