H.R. 1422 · 114th Congress
Credit Union Residential Loan Parity Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RoyceSponsor22 cosponsors · 18 D, 4 R
D
Huffman
TR
D
Ryan
RK
D
Kind
CS
R
Stewart
EN
D
Norton
DY
R
Young
JB
D
Brownley
JG
D
Garamendi
AL
D
Lowenthal
AG
D
Grayson
JH
R
Heck
EB
D
Blumenauer
PD
D
DeFazio
BS
D
Sherman
JH
R
Herrera Beutler
MC
D
Capuano
RL
D
Larsen
KC
D
Clark
MW
D
Waters
SL
D
Lynch
SM
D
Moulton
JL
D
Langevin1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Federal Credit Union Act to revise the definition of "member business loan," which currently excludes an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is a member's primary residence.
What it does: CRS summary · Introduced in House · Mar 18, 2015
Credit Union Residential Loan Parity Act
Amends the Federal Credit Union Act to revise the definition of "member business loan," which currently excludes an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is a member's primary residence.
Removes the condition that the dwelling be a member's primary residence, and so denying eligibility for a member business loan to any requested extension of credit that would be fully secured by a lien on a 1- to 4-family dwelling, regardless of whether it is or is not the member's primary residence.
Declares that this Act does not preclude the National Credit Union Administration from treating an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is not a member's primary residence as a member business loan for purposes other than certain member business loan limitation requirements under the Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Credit Union Residential Loan Parity Act
Latest action (Mar 18, 2015): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 18, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.