H.R. 3745 (112th): Faith-Based Lending Protection Act

112th Congress, 2011–2013. Text as of Dec 20, 2011 (Introduced).

Status & Summary | PDF | Source: GPO

HR 3745 IH

112th CONGRESS

1st Session

H. R. 3745

To amend the Federal Credit Union Act with respect to the limitations on member business loans.

IN THE HOUSE OF REPRESENTATIVES

December 20, 2011

Ms. BROWN of Florida introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal Credit Union Act with respect to the limitations on member business loans.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘Faith-Based Lending Protection Act’.

SEC. 2. MEMBER BUSINESS LOAN EXCLUSION FOR LOANS TO NONPROFIT RELIGIOUS ORGANIZATIONS.

    Section 107A(a) of the Federal Credit Union Act (12 U.S.C. 1757a(a)) is amended by inserting ‘, excluding loans made to nonprofit religious organizations,’ after ‘total amount of such loans’.