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United States · Bill · HR

H.R. 299 (114th)

Capital Access for Small Community Financial Institutions Act of 2015

referredUnited States· United States Congress· EN

Introduced

13 January 2015

Last action

14 April 2015 · Introduced

Status

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Rep. Stivers, Steve [R-OH-15], Rep. Beatty, Joyce [D-OH-3], Rep. Tiberi, Patrick J. [R-OH-12], Rep. Carson, André [D-IN-7]

Subjects

Housing

Source updated

7 April 2025

Housing

Summary

Capital Access for Small Community Financial Institutions Act of 2015 Amends the Federal Home Loan Bank Act to treat certain privately insured credit unions as insured depository institutions for purposes of determining eligibility for membership in a federal home loan bank. Permits a credit union which lacks federal deposit insurance and has applied for membership in a federal home loan bank to be treated as meeting all the eligibility requirements for federal deposit insurance if the supervisor of the chartering state has determined that it meets all federal deposit insurance eligibility requirements. Deems such a credit union to have met the eligibility criteria for federal home loan bank membership if, six months after its application date, the state supervisor has failed to act upon the application. Prohibits the application of a state law authorizing a conservator or liquidating agent of a credit union to repudiate contracts to any: (1) extension of credit from a federal home loan bank to a credit union which is a member of that bank, or (2) security interest in the assets of the credit union securing such extension of credit. Declares that if a federal home loan bank makes an advance to a state-chartered credit union that is not federally insured: (i) the bank's interest in any collateral securing such advance has the same priority and is afforded the same standing and rights that the security interest would have had if the advance had been made to a federally-insured credit union, and (2) the bank has the same right to access such collateral that it would have had if the advance had been made to a federally-insured credit union. Amends the Federal Deposit Insurance Act to require private deposit insurers of credit unions that are members of a federal home loan bank to submit copies of their audit reports within seven days to the Federal Housing Finance Agency. Directs the Government Accountability Office to study: (1) the adequacy of insurance reserves held by a private deposit insurer that insures deposits in an insured credit union or any credit union eligible to apply to become one, and (2) such credit unions' compliance with federal regulations governing disclosure of a lack of federal deposit insurance.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 13 January 2015

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 13 January 2015

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 13 January 2015

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 25 March 2015

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  5. 26 March 2015

    Vote

    Ordered to be Reported by the Yeas and Nays: 56 - 1.

    Source: Committee

  6. 26 March 2015

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  7. 13 April 2015

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  8. 13 April 2015

    Passed

    On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H2119)

    Source: Floor

  9. 13 April 2015

    Passed

    Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H2119)

    Source: Floor

  10. 13 April 2015

    Floor

    DEBATE - The House proceeded with forty minutes of debate on H.R. 299.

    Source: Floor

  11. 13 April 2015

    Floor

    Considered under suspension of the rules. (consideration: CR H2119-2120)

    Source: Floor

  12. 13 April 2015

    Floor

    Mr. Neugebauer moved to suspend the rules and pass the bill.

    Source: Floor

  13. 13 April 2015

    Calendars

    Placed on the Union Calendar, Calendar No. 39.

    Source: Calendars

  14. 13 April 2015

    Reported

    Reported by the Committee on Financial Services. H. Rept. 114-58.

    Source: Committee

  15. 13 April 2015

    Reported

    Reported by the Committee on Financial Services. H. Rept. 114-58.

    Source: Committee

  16. 14 April 2015

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

10 official files

Referred in Senate (text)

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  • Referred in Senate (text)

    Referred in Senate · EN · 14 April 2015

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  • Referred in Senate (PDF)

    Referred in Senate · EN · 14 April 2015

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  • Reported in House (text)

    Reported in House · EN · 13 April 2015

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  • Reported in House (PDF)

    Reported in House · EN · 13 April 2015

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  • Engrossed in House (text)

    Engrossed in House · EN · 13 April 2015

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 13 April 2015

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  • Passed House without amendment

    summary · EN · 13 April 2015

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  • Introduced in House (text)

    Introduced in House · EN · 13 January 2015

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  • Introduced in House (PDF)

    Introduced in House · EN · 13 January 2015

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  • Introduced in House

    summary · EN · 13 January 2015

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Sponsors

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Sources

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