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United States · Bill · HR

H.R. 5189 (117th)

Member Business Loan Expansion Act

referredUnited States· United States Congress· EN

Introduced

7 September 2021

Last action

7 September 2021 · Introduced

Status

Referred to the House Committee on Financial Services.

Sponsors

Vicente Gonzalez, Rep. Fitzpatrick, Brian K. [R-PA-1], Pete Aguilar, Norma Torres, Rep. Bonamici, Suzanne [D-OR-1], Rep. Carbajal, Salud O. [D-CA-24], Carolyn Bourdeaux, Dwight Evans, Dean Phillips

Subjects

Discovery layer

Source updated

3 January 2025

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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.)

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

Timeline

  1. 7 September 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 7 September 2021

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  3. 7 September 2021

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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Sponsors

Related records

Sources

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