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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Passed House

Capital Access for Small Community Financial Institutions Act of 2014

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Federal Home Loan Bank Act to authorize privately insured credit unions to become members of a Federal home loan bank, and for other purposes.


Actions Overview (2)

Date Actions Overview
05/06/2014Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 0 (Roll no. 195).(text: CR H3418)
11/21/2013Introduced in House

All Actions (12)

Date Chamber All Actions
05/07/2014SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
05/06/2014-7:05pmHouseOn motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 0 (Roll no. 195). (text: CR H3418)
05/06/2014-6:58pmHouseConsidered as unfinished business. (consideration: CR H3434)
05/06/2014-4:47pmHouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
05/06/2014-4:33pmHouseDEBATE - The House proceeded with forty minutes of debate on H.R. 3584.
05/06/2014-4:33pmHouseConsidered under suspension of the rules. (consideration: CR H3418-3420)
05/06/2014-4:33pmHouseMrs. Capito moved to suspend the rules and pass the bill, as amended.
03/14/2014HouseOrdered to be Reported (Amended) by the Yeas and Nays: 55 - 0.
Action By: Committee on Financial Services
03/14/2014HouseCommittee Consideration and Mark-up Session Held.
Action By: Committee on Financial Services
12/04/2013HouseHearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Action By: House Financial Services Subcommittee on Financial Institutions and Consumer Credit
11/21/2013HouseReferred to the House Committee on Financial Services.
11/21/2013HouseIntroduced in House

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Carson, Andre [D-IN-7] 12/02/2013
Rep. Tiberi, Patrick J. [R-OH-12] 12/02/2013
Rep. Beatty, Joyce [D-OH-3] 12/03/2013

Committees (2)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Financial Services11/21/2013 Referred to
03/14/2014 Markup by
House Financial Services Subcommittee on Financial Institutions and Consumer Credit12/04/2013 Hearings by
Senate Banking, Housing, and Urban Affairs05/07/2014 Referred to

No related bill information was received for H.R.3584.


Latest Summary (2)

There are 2 summaries for H.R.3584. View summaries

Shown Here:
Passed House amended (05/06/2014)

Capital Access for Small Community Financial Institutions Act of 2014 - (Sec. 2) Amends the Federal Home Loan Bank Act to treat certain privately insured credit unions as insured depository institutions for purposes of determining eligibility for membership in a federal home loan bank.

Permits a credit union which lacks federal deposit insurance and has applied for membership in a federal home loan bank to be treated as meeting all the eligibility requirements for federal deposit insurance if the supervisor of the chartering state has determined that it meets all federal deposit insurance eligibility requirements.

Deems such a credit union to have met the eligibility criteria for federal home loan bank membership if, six months after its application date, the state supervisor has failed to act upon the application.

Prohibits the application of a state law authorizing a conservator or liquidating agent of a credit union to repudiate contracts to any: (1) extension of credit from a federal home loan bank to a credit union which is a member of that bank, or (2) security interest in the assets of the credit union securing such extension of credit.

Declares that if a federal home loan bank makes an advance to a state-chartered credit union that is not federally insured: (i) the bank's interest in any collateral securing such advance has the same priority and is afforded the same standing and rights that the security interest would have had if the advance had been made to a federally-insured credit union, and (2) the bank has the same right to access such collateral that it would have had if the advance had been made to a federally-insured credit union.

Amends the Federal Deposit Insurance Act to require private deposit insurers of credit unions that are members of a federal home loan bank to submit copies of their audit reports within seven days to the Federal Housing Finance Agency.

(Sec. 3) Directs the Comptroller General (GAO) to study: (1) the adequacy of insurance reserves held by a private deposit insurer that insures deposits in an insured credit union or any credit union eligible to apply to become one, and (2) such credit unions' compliance with federal regulations governing disclosure of a lack of federal deposit insurance.