H.R.2351 - Credit Union Share Insurance Stabilization Act111th Congress (2009-2010)
|Sponsor:||Rep. Kanjorski, Paul E. [D-PA-11] (Introduced 05/12/2009)|
|Committees:||House - Financial Services|
|Latest Action:||House - 05/12/2009 Referred to the House Committee on Financial Services. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.2351 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in House (05/12/2009)
Credit Union Share Insurance Stabilization Act - Amends the Federal Credit Union Act (FCUA) to grant the National Credit Union Administration (NCUA) increased borrowing authority until December 31, 2010.
Requires the NCUA Board to: (1) establish a National Credit Union Share Insurance Fund (NCUSIF) Restoration Plan whenever it projects that the equity ratio of the NCUSIF will fall below a designated minimum equity ratio; and (2) establish the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) to make payments connected to the actual or threatened conservatorship or liquidation of a corporate credit union. Authorizes the TCCUSF to borrow from the Secretary of the Treasury, subject to specified conditions.