skip to main content

S. 3813: Veterans Member Business Loan Act


The text of the bill below is as of Mar 10, 2022 (Introduced).


II

117th CONGRESS

2d Session

S. 3813

IN THE SENATE OF THE UNITED STATES

March 10 (legislative day, March 7), 2022

(for himself and Ms. Hirono) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan.

1.

Short title

This Act may be cited as the Veterans Member Business Loan Act.

2.

Member business loan definition

(a)

In general

Section 107A(c) of the Federal Credit Union Act (12 U.S.C. 1757a(c)) is amended—

(1)

in paragraph (1)(B)—

(A)

in clause (iv), by striking or at the end;

(B)

in clause (v), by striking the period and inserting ; or; and

(C)

by adding at the end the following:

(vi)

made to a veteran;

;

(2)

in paragraph (2)(B)(ii), by striking and at the end;

(3)

in paragraph (3), by striking the period and inserting ; and; and

(4)

by adding at the end the following:

(4)

the term veteran has the meaning given the term in section 101 of title 38, United States Code.

.

(b)

Effective date

The amendments made by subsection (a) shall take effect 180 days after the date of enactment of this Act.