H.R. 1418 (112th): Small Business Lending Enhancement Act of 2011

Introduced:
Apr 07, 2011 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Edward “Ed” Royce
Representative for California's 40th congressional district
Party
Republican
Text
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Last Updated
Apr 07, 2011
Length
9 pages
Related Bills
S. 509 (Related)
Small Business Lending Enhancement Act of 2011

Referred to Committee
Last Action: Mar 08, 2011

S. 2231 (Related)
A bill to amend the Federal Credit Union Act, to advance the ability of ...

Reported by Committee
Last Action: Mar 26, 2012

 
Status

This bill was introduced on April 7, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 07, 2011
Referred to Committee Apr 07, 2011
 
Full Title

To amend the Federal Credit Union Act to provide certain credit unions with the authority to make additional member business loans, and for other purposes.

Summary

No summaries available.

Cosponsors
144 cosponsors (97D, 47R) (show)
Committees

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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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


4/7/2011--Introduced.
Small Business Lending Enhancement Act of 2011 - Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union.
Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would result in a total amount of such loans outstanding at any one time of up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria.
Prohibits an insured credit union that has made such a member business loan but that is not well capitalized from making any new member business loans until it becomes well capitalized and obtains Board approval.
Directs the Board to develop a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations.
Directs the Comptroller General to study the status of member business lending by insured credit unions.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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