All Information (Except Text) for S.968 - Small Business Lending Enhancement Act of 2013113th Congress (2013-2014)
|Sponsor:||Sen. Udall, Mark [D-CO] (Introduced 05/16/2013)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 05/16/2013 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
There is 1 version of this bill. View text
Click the check-box to add or remove the section, click the text link to scroll to that section.
Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Titles as Introduced
Small Business Lending Enhancement Act of 2013
Actions Overview (1)
|05/16/2013||Introduced in Senate|
05/16/2013 Introduced in Senate
All Actions (1)
|05/16/2013||Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.|
Action By: Senate
05/16/2013 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|Sen. Paul, Rand [R-KY]*||05/16/2013|
|Sen. Collins, Susan M. [R-ME]*||05/16/2013|
|Sen. Begich, Mark [D-AK]*||05/16/2013|
|Sen. Boxer, Barbara [D-CA]*||05/16/2013|
|Sen. Brown, Sherrod [D-OH]*||05/16/2013|
|Sen. Gillibrand, Kirsten E. [D-NY]*||05/16/2013|
|Sen. Leahy, Patrick J. [D-VT]*||05/16/2013|
|Sen. Nelson, Bill [D-FL]*||05/16/2013|
|Sen. Reed, Jack [D-RI]*||05/16/2013|
|Sen. Sanders, Bernard [I-VT]*||05/16/2013|
|Sen. Schumer, Charles E. [D-NY]*||05/16/2013|
|Sen. Whitehouse, Sheldon [D-RI]*||05/16/2013|
|Sen. Heinrich, Martin [D-NM]*||05/16/2013|
|Sen. King, Angus S., Jr. [I-ME]*||05/16/2013|
|Sen. Levin, Carl [D-MI]||05/20/2013|
|Sen. Wyden, Ron [D-OR]||06/20/2013|
|Sen. Feinstein, Dianne [D-CA]||07/31/2013|
|Sen. Hirono, Mazie K. [D-HI]||02/24/2014|
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Banking, Housing, and Urban Affairs||05/16/2013||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
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.