H.R. 3439 (105th): Credit Union Community Reinvestment Act

Mar 11, 1998 (105th Congress, 1997–1998)
Died (Referred to Committee)
Joseph Kennedy II
Representative for Massachusetts's 8th congressional district
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Last Updated
Mar 11, 1998
4 pages

This bill was introduced on March 11, 1998, in a previous session of Congress, but was not enacted.

Introduced Mar 11, 1998
Referred to Committee Mar 11, 1998
Full Title

To amend the Community Reinvestment Act of 1977 to require insured credit unions to meet the credit needs of the community served by the credit union.


No summaries available.

1 cosponsors (1D) (show)

House Financial Services

Financial Institutions and Consumer Credit

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

Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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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.

Credit Union Community Reinvestment Act - Amends the Community Reinvestment Act of 1977 to declare that:
(1) the field of membership of a credit union shall be treated as the community served by such union; and
(2) insured credit unions have a continuing and affirmative obligation to help meet the credit needs of the community served by such unions.
Directs the National Credit Union Administration Board to:
(1) exercise its authority under the Federal Credit Union Act to encourage any insured credit union whose total assets exceed $25 million to help meet the credit needs of the community it serves; and
(2) take such a credit union's record of meeting those needs into account in its evaluation of any application to expand the credit union's field of membership or to establish a deposit facility.
Authorizes Board deference to the State regulator of a credit union for enforcement of any State law requirements that are no less stringent than those of the Act.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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