Restore Main Street's Credit Act of 2012

Summary

Restore Main Street's Credit Act of 2012 - Amends the Federal Credit Union Act to exclude from the definition of "member business loan" (and related loan limits) an extension of credit made to a Main Street business (an organization, other than a nonprofit organization, with 20 or fewer full-time employees that possesses, occupies, or leases property other than a home for its business's operations). Instructs the National Credit Union Administration Board (NCUAB) to issue guidelines for extensions of credit made by an insured credit union to a Main Street business in order to promote: (1) appropriate levels of such extensions within the credit union's total lending portfolio, and (2) the credit union's cooperative nature and its safety and soundness.

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Timeline

1. 28 March 2012

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 28 March 2012

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 March 2012

   Introduced

   Introduced in House

   Source: IntroReferral

4. 26 April 2012

   Referred

   Referred to the Subcommittee on Financial Institutions and Consumer Credit.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 28 March 2012 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 28 March 2012

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 28 March 2012

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 28 March 2012

  Open at official source

Sponsors

• Kurt Schrader · D · Sponsor
• Earl Blumenauer · D · Sponsor
• PETER DEFAZIO · D · Sponsor
• Rep. Hahn, Janice [D-CA-44] · D · Cosponsor
• Rep. Jackson, Jesse L., Jr. [D-IL-2] · D · Cosponsor
• · hsba00 · Standing

Related records

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