Credit Union Community Reinvestment Act

Summary

Credit Union Community Reinvestment Act - Amends the Community Reinvestment Act of 1977 to declare that: (1) the field of membership of a credit union shall be treated as the community served by such union; and (2) insured credit unions have a continuing and affirmative obligation to help meet the credit needs of the community served by such unions. Directs the National Credit Union Administration Board to: (1) exercise its authority under the Federal Credit Union Act to encourage any insured credit union whose total assets exceed $25 million to help meet the credit needs of the community it serves; and (2) take such a credit union's record of meeting those needs into account in its evaluation of any application to expand the credit union's field of membership or to establish a deposit facility. Authorizes Board deference to the State regulator of a credit union for enforcement of any State law requirements that are no less stringent than those of the Act.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 March 1998

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• Introduced in House (PDF)

  Introduced in House · EN · 11 March 1998

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• Introduced in House

  summary · EN · 11 March 1998

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