H.R. 4191 (112th): Credit Union Small Business Lending Act

Introduced:
Mar 08, 2012 (112th Congress, 2011–2013)
Sponsor:
Rep. Kurt Schrader [D-OR5]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on March 8, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Mar 08, 2012
Referred to Committee Mar 08, 2012
Cosponsors
1 cosponsors (1R) (show)
Committees

House Financial Services

House Small Business

The committee chair determines whether a bill will move past the committee stage.

Full Title

To amend the Federal Credit Union Act and the Small Business Act to improve small business lending, improve cooperation between the National Credit Union Administration and the Small Business Administration, and for other purposes.

Summary

No summaries available.

Text

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Last updated Mar 08, 2012.
4 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/8/2012--Introduced.
Credit Union Small Business Lending Act - Directs the Administrator of the Small Business Administration (SBA) to establish a dedicated process by which credit unions participating in a certain small business loan program may receive approvals and repurchases concerning program loan guarantees.
Requires such process to:
(1) be distinct from that used by participating non-credit unions, and
(2) make use of existing agency resources.
Amends the Small Business Act to direct the SBA Administrator to implement a program to:
(1) provide outreach and assistance to credit unions to increase their participation in the SBA small business loan program,
(2) simplify the application process for such participation, and
(3) provide a guaranty of up to 85% for loans made by credit unions to their members in underserved areas.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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