senator mark udall's small business lending enhancement act. this much-needed commonsense legislation would increase the statutory member is this lending cap from 12.25% to 27.5% and impose statutory and regulatory safeguards on increased leading to protect the insurance fund from additional risk. the safeguards were designed by treasury and the ncua. we estimate the credit unions could land an additional $13 billion to their members who own small businesses in the first year, helping them to create 140,000 new jobs without an outlay of a single taxpayer dollar. as my written testimony describes credit unions have continued to lend to their members throughout the financial crisis. increasing business by 38% since 2007. bubba banks commercial loan portfolios shrank by 5%. currently there are over 330 credit unions need the cap and they account for over half the business loans subject to the cap. these credit unions have been a source of most of the growth and credit union business lending. over the next two years these credit unions will dry up

senator mark udall introduced legislation that would raise the cap to 27.5% of total assets. there is a wide range of views op this matter especially as congress considers proposals to speed the economic recovery. i think that it is important that we take the time to examine this issue here in committee and provide the opportunity for all sides to fully express their views on this subject. i look forward to your testimony, chairman, to our other witness' testimony, and to the question and answer period. i see there are any other members present. has been chairman of the national credit union administration since august of 2009. she was the executive vice president and chief operating officer of andrews federal credit union of maryland. chairman mass served as a board member from january 2002 to object 2005. chairman mass, welcome, and please proceed. >> thank you. [inaudible] sorry. thank you, chairman johnson. i appreciate this opportunity to discuss regulation and supervision and the significance of such lending for small businesses. credit unions have always offered member