Member Business Loan Expansion Act

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.)  

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 July 2023

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• Introduced in House (PDF)

  Introduced in House · EN · 25 July 2023

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• Introduced in House

  summary · EN · 25 July 2023

  Open at official source

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