H.R. 5189 · 117th Congress
Member Business Loan Expansion Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
GonzalezSponsor8 cosponsors · 7 D, 1 R
R
Fitzpatrick
PA
D
Aguilar
NT
D
Torres
SB
D
Bonamici
SC
D
Carbajal
CB
D
Bourdeaux
DE
D
Evans
DP
D
Phillips1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill revises requirements related to the terms and lending limits of certain credit union loans.
What it does: CRS summary · Introduced in House · Sep 7, 2021
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.)Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Member Business Loan Expansion Act
Latest action (Sep 7, 2021): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Sep 7, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.