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

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Small Business Lending Enhancement Act of 2013

Official Titles

Official Titles - Senate

Official Titles as Introduced

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.


Actions Overview (1)

Date
05/16/2013 Introduced in Senate

All Actions (1)

Date
05/16/2013 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Action By: Senate

Committees (1)

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 Reports
Senate Banking, Housing, and Urban Affairs05/16/2013 Referred to

Related Bills (1)

A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-congress measures.

Subjects (6)

  • Administrative law and regulatory procedures
  • Banking and financial institutions regulation
  • Congressional oversight
  • Credit and credit markets
  • National Credit Union Administration

Latest Summary (1)

There is one summary for S.968. View summaries

Shown Here:
Introduced in Senate (05/16/2013)

Small Business Lending Enhancement Act of 2013 - Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union.

Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would result in a total amount of such loans outstanding at any one time of up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria. Prohibits an insured credit union that has made such a member business loan but that is not well capitalized from making any new member business loans until it becomes well capitalized and obtains Board approval.

Directs the Board to develop a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations.

Directs the Comptroller General to study the status of member business lending by insured credit unions.