U.S. Congress - S.2231 A bill to amend the Federal Credit Union Act, to advance the ability of credit unions t...
S.2231 - A bill to amend the Federal Credit Union Act, to advance the ability of credit unions to promote small business growth and economic development opportunities, and for other purposes.
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- Official: A bill to amend the Federal Credit Union Act, to advance the ability of credit unions to promote small business growth and economic development opportunities, and for other purposes. as introduced.
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Official Summary
3/22/2012--Introduced.Small Business Lending Enhancement Act of 2012 - 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 exceedingOfficial Summary
3/22/2012--Introduced.Small Business Lending Enhancement Act of 2012 - 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.
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Organizations Supporting S.2231
- National Cooperative Business Association
- National Association of Federal Credit Unions
- Missouri Credit Union Association
- Spokane Teachers Credit Union
- Credit Union National Association
Organizations Opposing S.2231
- Independent Community Bankers of America
- Georgia Bankers Association
- Tennessee Bankers Association
- American Bankers Association
Latest Letters to Congress
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Please support S.2231
dannyjones
December 06, 2012
I am writing as your constituent in the 5th Congressional district of Washington. I support S.2231 and hope you will, too. S.2231 is a bill to amend the Federal Credit Union Act, to advance the ability of credit unions to promote small business growth and economic development opportunities, and for other purposes. Please see the following info graphic for supporting data: http://www.mygenfcu.org/sites/default/files/images/s2231-_web.jpg
S.2231 A bill to amend the Federal Credit Union Act, to advance the ability of credit unions to promote small business growth and economic development opportunities, and for other purposes. lcanale November 20, 2012
I am writing to ask for your support of the Credit Union Small Business Jobs Bill (SB #2231). I work at Numerica Credit Union and we take pride in providing financial services to over 90,000 members. Many of our members own or work for a small business. We provide a low cost alternative to small businesses and when the great recession began, Numerica was there to provide loans and accounts to these business owners when the banks would not.
America’s small businesses are the driving for... -
S.2231 A bill to amend the Federal Credit Union Act, to advance the ability of credit unions to promote small business growth and economic development opportunities, and for other purposes.
mariniak
June 28, 2012
I am writing as your constituent in the 1st Congressional district of Virginia. I support S.2231 - A bill to amend the Federal Credit Union Act, to advance the ability of credit unions to promote small business growth and economic development opportunities, and for other purposes., and am tracking it using OpenCongress.org, the free public resource website for government transparency and accountability.
Sincerely,
DAVID MARINIAK
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