S.2919 - Small Business Lending Enhancement Act of 2009

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. view all titles (2)

All Bill Titles

  • 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.
  • Short: Small Business Lending Enhancement Act of 2009 as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
12/21/09
 
 
 
 
 
 
 

Official Summary

Small Business Lending Enhancement Act of 2009 - Amends the Federal Credit Union Act to increase the total permissible amount of member business loans by an insured credit union (excluding those made to nonprofit religious organizations) to a limit of 25% of the credit union's total as

Official Summary

Small Business Lending Enhancement Act of 2009 - Amends the Federal Credit Union Act to increase the total permissible amount of member business loans by an insured credit union (excluding those made to nonprofit religious organizations) to a limit of 25% of the credit union's total assets. Increases from $50,000 to $250,000 the maximum total extensions of credit a borrower or associated member of an insured credit union may have before any extension of credit shall be considered a member business loan. Directs the National Credit Union Administration (NCUA) Board to report semiannually to Congress on the status of member business lending made by insured credit unions during the reporting period.

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Organizations Supporting S.2919

  • National Association of Realtors
  • Bethpage Federal Credit Union
  • Credit Union Association of New York
  • California and Nevada Credit Union Leagues
  • Credit Union National Association
  • National Association for the Self-Employed
  • ...and 14 more. See all.

Organizations Opposing S.2919

  • American Bankers Association
  • Independent Community Bankers of America
  • Community Bankers Association of Ohio




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