H.R. 5419 · 114th Congress
Credit Union Examination Reform Act of 2016
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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
GuintaSponsorNo cosponsors.
This bill amends the Federal Credit Union Act to permit an examination to be carried out only once every 18 months of a federal credit union or an insured credit union that:
What it does: CRS summary · Introduced in House · Jun 9, 2016
Credit Union Examination Reform Act of 2016
This bill amends the Federal Credit Union Act to permit an examination to be carried out only once every 18 months of a federal credit union or an insured credit union that:
- has total assets of less than $1 billion;
- is well capitalized (or adequately capitalized, in the case of an insured credit union);
- was found in its most recent examination to be well managed, with a composite rating (under the Uniform Financial Institutions Rating System) of 1, in the case of a credit union that has total assets of more than $200 million, or 1 or 2, in the case of a credit union that has total assets of $200 million or less; and
- is not currently subject to a formal enforcement proceeding or order by the National Credit Union Administration (NCUA).
Such limitation shall not apply if the NCUA determines that such a credit union: (1) should be examined more often because of safety and soundness concerns, or (2) has violated the law.
The NCUA shall issue a report on how this bill affects its budget.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Credit Union Examination Reform Act of 2016
Latest action (Jun 9, 2016): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 9, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.