Those looking to purchase property for private or commercial use in the coming months should all be aware that The Economic Growth, Regulatory Relief, and Consumer Protection Act now allows credit unions to make more loans to homeowners and small businesses.
The Economic Growth, Regulatory Relief, and Consumer Protection Act
From the Chairman of the Senate Banking Committee, Mike Crappo, “This step toward right-sizing regulation will allow local banks and credit unions to focus more on lending, in turn propelling economic growth and creating jobs on Main Street and in our communities. This is an important moment for small financial institutions, small businesses, and families across America.”
The Idaho senator’s website goes on to explain, “The Economic Growth, Regulatory Relief and Consumer Protection Act right-sizes the regulatory system for smaller financial institutions, allowing community banks and credit unions to succeed and invest further in their local areas. Rather than spending time on compliance, these institutions can redirect resources toward what they do best – approving mortgages, providing credit, and lending to small businesses and families in their communities.”
Stonebridge Mortgage Group can help you with your real estate loans and other mortgage solutions, both residential and commercial. We serve the greater Portland area and are located in Gresham, Oregon. Visit us in historic Downtown Gresham today to learn more about our mortgage services.
Call us today at 503.661.5580