Member Business Loan Expansion Act
118-HR-4868118th CongressIntroduced Jul 25, 2023Finance and Financial Sector
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Referred to the House Committee on Financial Services.
Sponsor
Rep. Gonzalez, Vicente [D-TX-34](D-TX-34)2 cosponsors
Summary
Member Business Loan Expansion Act
This bill revises requirements related to the terms and lending limits of certain credit union loans.
Specifically, the bill (1) allows the National Credit Union Administration Board to lengthen the maturity term of certain loans made by a credit union, and (2) raises the credit limit for credit union member businesses under which such loans are excluded from overall credit union lending limits.
Finally, the bill expands the definition of a community financial institution by (1) allowing insured credit unions to qualify, and (2) raising the average asset limit. (Community financial institutions are subject to reduced asset requirements for purposes of Federal Home Loan Bank membership.)
Actions (3)
Referred to the House Committee on Financial Services.
Jul 25, 2023House floor actions
Introduced in House
Jul 25, 2023Library of Congress
Introduced in House
Jul 25, 2023Library of Congress