US covered bond bill finds SME traction
Senators Corker and Hagan filed an adjusted US Covered Bond Act as an amendment to the Senate version of the Jumpstart Our Business Startups Act (Jobs Act) on Wednesday — nearly a year after the Covered Bond Bill (HR 940) was introduced to the House of Representatives. By aligning the prospective legislation with SME lending and job creation, the Act may draw broader political support and several industry associations have backed the move.
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