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United States · Bill · HR

H.R. 3380 (111th)

Promoting Lending to America's Small Businesses Act of 2009

referredUnited States· United States Congress· EN

Introduced

29 July 2009

Last action

29 July 2009 · Introduced

Status

Referred to the House Committee on Financial Services.

Sponsors

Rep. Kanjorski, Paul E. [D-PA-11], Rep. Royce, Edward R. [R-CA-39], Rep. Paul, Ron [R-TX-14], Rep. Poe, Ted [R-TX-2], Rep. Kaptur, Marcy [D-OH-9], Rep. Ryan, Tim [D-OH-13], Rep. Fudge, Marcia L. [D-OH-11], Rep. Pascrell, Bill, Jr. [D-NJ-9], Sen. Baldwin, Tammy [D-WI], Rep. Speier, Jackie [D-CA-14], Rep. Culberson, John Abney [R-TX-7], Rep. Carnahan, Russ [D-MO-3], Sen. Heinrich, Martin [D-NM], Rep. Ortiz, Solomon P. [D-TX-27], Rep. Michaud, Michael H. [D-ME-2], Rep. Braley, Bruce L. [D-IA-1], Rep. Schrader, Kurt [D-OR-5], Rep. LaTourette, Steven C. [R-OH-14], Rep. Sherman, Brad [D-CA-32], Rep. Pallone, Frank [D-NJ-6], Rep. Filner, Bob [D-CA-51], Rep. Baca, Joe [D-CA-43], Rep. Waters, Maxine [D-CA-43], Rep. Carson, André [D-IN-7], Rep. Baird, Brian [D-WA-3], Rep. Bartlett, Roscoe G. [R-MD-6], Rep. Johnson, Eddie Bernice [D-TX-30], Rep. Wu, David [D-OR-1], Rep. Honda, Michael M. [D-CA-15], Rep. Burton, Dan [R-IN-5], Rep. Hinchey, Maurice D. [D-NY-22], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Petri, Thomas E. [R-WI-6], Rep. Napolitano, Grace F. [D-CA-32], Rep. Bishop, Timothy H. [D-NY-1], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Ellsworth, Brad [D-IN-8], Rep. Schauer, Mark H. [D-MI-7], Rep. Upton, Fred [R-MI-6], Rep. Kildee, Dale E. [D-MI-5], Rep. Massa, Eric J. J. [D-NY-29], Rep. Bishop, Sanford D. [D-GA-2], Rep. Castor, Kathy [D-FL-14], Rep. Sutton, Betty [D-OH-13], Rep. Rothman, Steven R. [D-NJ-9], Rep. Payne, Donald M. [D-NJ-10], Rep. Simpson, Michael K. [R-ID-2], Rep. Schakowsky, Janice D. [D-IL-9]

Subjects

Discovery layer

Source updated

14 August 2025

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Summary

Promoting Lending to America's Small Businesses Act of 2009 - Amends the Federal Credit Union Act to increase the total permissible amount of member business loans by an insured credit union (excluding those made to nonprofit religious organizations) to a limit of 25% of the credit union's total assets. Increases from $50,000 to $250,000 the maximum total extensions of credit a borrower or associated member of an insured credit union may have before any extension of credit shall be considered a member business loan. Revises the prohibition against an increase in the total amount of member business loans by an undercapitalized insured credit union until it becomes adequately capitalized. Repeals the condition of becoming adequately capitalized, and requires only that the National Credit Union Administration Board approve the increase. Excludes from the definition of "member business loan" any extension of credit, meeting other specified criteria, that is made to a member for commercial, corporate, business, farm, or agricultural purposes in an underserved area.

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

Timeline

  1. 29 July 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 29 July 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 29 July 2009

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 29 July 2009

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  • Introduced in House (PDF)

    Introduced in House · EN · 29 July 2009

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  • Introduced in House

    summary · EN · 29 July 2009

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Sponsors

Showing 48 of 129 sponsors and actors.

Related records

Sources

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