H.R. 3993 (112th): Capital Access for Small Businesses and Jobs Act

Feb 09, 2012 (112th Congress, 2011–2013)
Died (Referred to Committee)
Peter “Pete” King
Representative for New York's 3rd congressional district
Read Text »
Last Updated
Feb 09, 2012
3 pages
Related Bills
H.R. 719 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Feb 14, 2013


This bill was introduced on February 9, 2012, in a previous session of Congress, but was not enacted.

Introduced Feb 09, 2012
Referred to Committee Feb 09, 2012
Full Title

To clarify the National Credit Union Administration authority to improve credit union safety and soundness.


No summaries available.

45 cosponsors (30D, 15R) (show)

House Financial Services

Financial Institutions and Consumer Credit

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Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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The bill’s title was written by its sponsor.

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.

Capital Access for Small Businesses and Jobs Act - Amends the Federal Credit Union Act to empower federal credit unions to receive payments, representing equity, on certain uninsured non-share capital accounts, subject to such terms, rates, and conditions as may be established by the board of directors, within limitations prescribed by the National Credit Union Administration Board (Board).
Requires any Board-prescribed system of prompt corrective action to take into account that credit unions rely predominantly (under current law, must rely) upon retained earnings to build net worth.
Redefines "net worth" with respect to any insured credit union (other than a low-income credit union) to include non-share capital accounts, as authorized by the Board, that:
(1) do not alter the cooperative nature of the credit union;
(2) are uninsured;
(3) are subordinate to all other claims against the credit union, including the claims of creditors, shareholders, and the National Credit Union Share Insurance Fund;
(4) are available to be applied to cover operating losses of the credit union in excess of its retained earnings and, to the extent so applied, will not be replenished;
(5) are subject to maturity limits as determined by the Board; and
(6) are offered by a credit union that is sufficiently capitalized and well-managed.

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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