[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 544 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                 S. 544

 To amend the Federal Credit Union Act to provide a sunset for certain 
ways in which credit unions may be Agent members of the National Credit 
            Union Administration Central Liquidity Facility.


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                   IN THE SENATE OF THE UNITED STATES

                           February 28, 2023

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

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                                 A BILL


 
 To amend the Federal Credit Union Act to provide a sunset for certain 
ways in which credit unions may be Agent members of the National Credit 
            Union Administration Central Liquidity Facility.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. AGENT MEMBERSHIP.

    (a) In General.--Section 304(b)(2) of the Federal Credit Union Act 
(12 U.S.C. 1795c(b)(2)) is amended by striking ``all those credit 
unions'' and inserting ``such credit unions as the Board may in its 
discretion determine''.
    (b) Sunset.--
            (1) In general.--Section 304(b)(2) of the Federal Credit 
        Union Act (12 U.S.C. 1795c(b)(2)) is amended by striking ``such 
        credit unions as the Board may in its discretion determine'' 
        and inserting ``all those credit unions''.
            (2) Effective date.--The amendments made by paragraph (1) 
        shall take effect on the date that is 3 years after the date of 
        enactment of this Act.
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