H.R.1646 - To amend the Federal Credit Union Act to provide an exception from the member business loan cap for loans made to aid in the recovery from a disaster.113th Congress (2013-2014)
|Sponsor:||Rep. Maloney, Carolyn B. [D-NY-12] (Introduced 04/18/2013)|
|Committees:||House - Financial Services|
|Latest Action:||04/18/2013 Referred to the House Committee on Financial Services. (All Actions)|
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Summary: H.R.1646 — 113th Congress (2013-2014)All Information (Except Text)
Introduced in House (04/18/2013)
Amends the Federal Credit Union Act to exempt from the limit on member business loans those that are: (1) used to aid in the recovery from a major disaster declared under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, and (2) made within five years after such a declaration.
Directs the National Credit Union Administration Board to issue regulations defining when an extension of credit aids in the recovery from a disaster.