H.R. 1862: Capital Access for Small Community Financial Institutions Act of 2013

113th Congress, 2013–2015. Text as of May 07, 2013 (Introduced).

Status & Summary | PDF | Source: GPO and Cato Institute Deepbills

I

113th CONGRESS

1st Session

H. R. 1862

IN THE HOUSE OF REPRESENTATIVES

May 7, 2013

(for himself, Mr. Carson of Indiana, and Mrs. Beatty) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Federal Home Loan Bank Act to allow non-Federally insured credit unions to become members of a Federal Home Loan Bank.

1.

Short title

This Act may be cited as the Capital Access for Small Community Financial Institutions Act of 2013 .

2.

Inclusion of non-Federally insured credit unions

Section 4 of the Federal Home Loan Bank Act ( 12 U.S.C. 1424(a) ) is amended—

(1)

in subsection (a)

(A)

in paragraph (1), by inserting after community development financial institution, the following: a State credit union (as such term is defined under section 101 of the Federal Credit Union Act (12 U.S.C. 1752)),;

(B)

in paragraph (2)

(i)

in the matter before subparagraph (A), by inserting after insured depository institution the following: or State credit union;

(ii)

in subparagraph (A), by inserting after (other than a community financial institution) the following: or State credit union; and

(iii)

in subparagraph (B)

(I)

by inserting after insured depository institution’s the following: or State credit union’s; and

(II)

by inserting before the semicolon the following: or State credit union; and

(C)

in paragraph (3), by inserting after insured depository institution the following: or State credit union; and

(2)

in subsection (b)

(A)

by inserting after institution the following: or State credit union; and

(B)

by inserting after institution’s the following: or State credit union’s.