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H.R. 3380 · 111th Congress

Promoting Lending to America's Small Businesses Act of 2009

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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

PKD KanjorskiSponsor
127 cosponsors · 94 D, 33 R
ERR Royce MKD Kaptur RPR Paul TPR Poe TBD Baldwin JCR Culberson RCD Carnahan MFD Fudge MHD Heinrich SOD Ortiz BPD Pascrell TRD Ryan JSD Speier BBD Braley MMD Michaud KSD Schrader SLR LaTourette FPD Pallone BSD Sherman BBD Baird JBD Baca ACD Carson BFD Filner MWD Waters RBR Bartlett DBR Burton MHD Honda EJD Johnson DWD Wu MHD Hinchey END Norton TPR Petri GND Napolitano TBD Bishop HJD Johnson BED Ellsworth DKD Kildee EMD Massa MSD Schauer FUR Upton SBD Bishop KCD Castor DPD Payne SRD Rothman MSR Simpson BSD Sutton WJR Jones JSD Schakowsky GCD Connolly THD Holden JHD Hall JLD Lewis JPR Pitts TWD Walz KDD Dahlkemper DYR Young NAD Abercrombie GBR Bilirakis CCD Carney EGR Gallegly AGD Grayson PKD Kennedy CKD Kilpatrick SKD Kagen LKD Kissell JLD Langevin CMD Maloney CMR Miller GPD Peters CPD Pingree PSD Stark JSD Sarbanes BBR Bilbray CBD Brown SCD Cohen VER Ehlers DIR Issa SJD Jackson Lee NLD Lowey EMD Markey CMD McCarthy JMD McGovern GMD Meeks NRD Rahall DRR Rohrabacher BSD Stupak CSD Shea-Porter LWD Woolsey RHD Holt HBD Berman JCD Chu WHR Herger SKD Kosmas JLR Linder FLR LoBiondo JMD McDermott CPD Peterson BPR Posey MQD Quigley GKD Butterfield GGD Green PHR Hoekstra JMR Miller CMR McMorris Rodgers EBD Blumenauer JCD Conyers DDD Davis PHD Hare DHR Hunter TRR Rooney ZWR Wamp PTD Tonko KCR Calvert DCD Christensen AED Eshoo VFR Foxx AHD Hastings DKD Kucinich TMR McClintock LRD Richardson LSD Sanchez AWD Weiner CRD Rodriguez BMD Markey WCD Clay PDD DeFazio JJD Jackson

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Promoting Lending to America's Small Businesses Act of 2009 - Amends the Federal Credit Union Act to increase the total permissible amount of member business loans by an insured credit union (excluding those made to nonprofit religious organizations) to a limit of 25% of the credit union's total assets.

What it does: CRS summary · Introduced in House · Jul 29, 2009

Promoting Lending to America's Small Businesses Act of 2009 - Amends the Federal Credit Union Act to increase the total permissible amount of member business loans by an insured credit union (excluding those made to nonprofit religious organizations) to a limit of 25% of the credit union's total assets.

Increases from $50,000 to $250,000 the maximum total extensions of credit a borrower or associated member of an insured credit union may have before any extension of credit shall be considered a member business loan.

Revises the prohibition against an increase in the total amount of member business loans by an undercapitalized insured credit union until it becomes adequately capitalized. Repeals the condition of becoming adequately capitalized, and requires only that the National Credit Union Administration Board approve the increase.

Excludes from the definition of "member business loan" any extension of credit, meeting other specified criteria, that is made to a member for commercial, corporate, business, farm, or agricultural purposes in an underserved area.


Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Promoting Lending to America's Small Businesses Act of 2009

Latest action (Jul 29, 2009): Referred to the House Committee on Financial Services.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 29, 2009

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.