Credit Union Regulatory Relief Act of 2008

Summary

Credit Union Regulatory Relief Act of 2008 - Amends the Federal Credit Union Act to: (1) permit a credit union to invest in securities for its own account, subject to certain percentage limitations; and (2) increase the investment and lending limit in credit union service organizations from 1% to 3% of a credit union's total paid and unimpaired capital and surplus. Excludes credit union loans to nonprofit religious organizations from limitations placed upon member business loans. Authorizes the National Credit Union Administration Board (Board) to establish longer loan maturity dates. Directs the Board to prescribe criteria for continued membership of certain member groups in the case of certain credit union conversions to a community charter. Revises requirements for credit union membership in certain underserved areas. Empowers a federal credit union to provide short-term loans as an alternative to payday loans. Authorizes a credit union board of directors to expel a member based on just cause, including disruption of credit union operations (as well as nonparticipation, as under current law). Excludes from the meaning of member business loan subject to certain limitations (thus permitting without such limitations) any extension of credit to a member, meeting specified criteria, whose proceeds are to be used for commercial, corporate, business, farm or agricultural purposes in an underserved area. Amends the Clayton Act to exempt from its premerger notification and waiting period requirements any mergers of one insured credit union activities with another which require agency approval under the Federal Credit Union Act.

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

Timeline

1. 3 March 2008

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 3 March 2008

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 March 2008

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 March 2008 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 March 2008

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 March 2008

  ViewDownloadOpen at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in House

  summary · EN · 3 March 2008

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Kanjorski, Paul E. [D-PA-11] · D · Sponsor
• Rep. Royce, Edward R. [R-CA-39] · R · Sponsor
• Rep. Rodriguez, Ciro D. [D-TX-28] · D · Cosponsor
• Rep. Altmire, Jason [D-PA-4] · D · Cosponsor
• Rep. Ackerman, Gary L. [D-NY-5] · D · Cosponsor
• Rep. Miller, Jeff [R-FL-1] · R · Cosponsor
• Rep. Lipinski, Daniel [D-IL-3] · D · Cosponsor
• Rep. Walsh, James T. [R-NY-25] · R · Cosponsor
• Rep. McHugh, John M. [R-NY-23] · R · Cosponsor
• Rep. Clarke, Yvette D. [D-NY-9] · D · Cosponsor
• Rep. Young, Don [R-AK-At Large] · R · Cosponsor
• Rep. Paul, Ron [R-TX-14] · R · Cosponsor
• Rep. Feeney, Tom [R-FL-24] · R · Cosponsor
• Rep. Carson, André [D-IN-7] · D · Cosponsor
• Rep. Hare, Phil [D-IL-17] · D · Cosponsor
• Rep. Green, Gene [D-TX-29] · D · Cosponsor
• Rep. Carnahan, Russ [D-MO-3] · D · Cosponsor
• Rep. Brown, Corrine [D-FL-5] · D · Cosponsor
• Rep. Filner, Bob [D-CA-51] · D · Cosponsor
• · hsba00 · Standing

Related records

• related to → Credit Union Regulatory Improvements Act of 2007