H.R. 4293 (112th): Restore Main Street’s Credit Act of 2012

Mar 28, 2012 (112th Congress, 2011–2013)
Died (Referred to Committee)
Kurt Schrader
Representative for Oregon's 5th congressional district
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Last Updated
Mar 28, 2012
3 pages

This bill was introduced on March 28, 2012, in a previous session of Congress, but was not enacted.

Introduced Mar 28, 2012
Referred to Committee Mar 28, 2012
Full Title

To amend the Federal Credit Union Act to exclude loans made to Main Street businesses from the definition of a member business loan, and for other purposes.


No summaries available.

4 cosponsors (4D) (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.

Restore Main Street's Credit Act of 2012 - Amends the Federal Credit Union Act to exclude from the definition of "member business loan" (and related loan limits) an extension of credit made to a Main Street business (an organization, other than a nonprofit organization, with 20 or fewer full-time employees that possesses, occupies, or leases property other than a home for its business's operations).
Instructs the National Credit Union Administration Board (NCUAB) to issue guidelines for extensions of credit made by an insured credit union to a Main Street business in order to promote: (1) appropriate levels of such extensions within the credit union's total lending portfolio, and (2) the credit union's cooperative nature and its safety and soundness.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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