Who is affected and how:

• Veterans: Directly affected because loans they receive from credit unions are explicitly captured by the statutory definition of member business loans. That can clarify eligibility and regulatory treatment for veteran borrowers seeking business financing through credit unions.

• Credit unions (and their members): Practically affected because the change alters the statutory classification of certain loans. Credit unions will likely review and update lending policies, underwriting checklists, loan documentation, and compliance controls to reflect that loans to veterans fall within this member business loan category.

• Regulators and supervisors: Affected because exam processes, guidance, and supervisory expectations may need update to ensure consistent treatment and reporting of loans to veterans that fit the member business loan definition.

• Small businesses and local economies: Indirectly affected because clearer statutory treatment of veteran business loans may make it simpler for credit unions to offer or report business lending to veteran entrepreneurs, potentially improving access to financing for veteran-owned small businesses.

Nature and magnitude of impact:

• The change is primarily definitional and administrative; it does not appropriate funds or alter taxes. Impact is therefore expected to be modest: some compliance and operational adjustments for credit unions and clarifying benefits for veteran borrowers, with no large-scale fiscal or regulatory shifts.

Uncertainties and implementation notes:

• The practical consequences will depend on existing credit union policies and how regulators interpret the expanded definition in guidance or exams. Any change in credit union lending behavior (e.g., increased outreach or products for veterans) would depend on internal business decisions rather than a direct funding or mandate in the amendment.