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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Credit Union Residential Loan Parity Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Federal Credit Union Act to exclude a loan secured by a non-owner occupied 1- to 4-family dwelling from the definition of a member business loan, and for other purposes.


Actions Overview (1)

Date
03/18/2015Introduced in House

All Actions (2)

Date
03/18/2015Referred to the House Committee on Financial Services.
Action By: House of Representatives
03/18/2015Introduced in House
Action By: House of Representatives

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
House Financial Services03/18/2015 Referred to

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Subjects (4)


Latest Summary (1)

There is one summary for H.R.1422. View summaries

Shown Here:
Introduced in House (03/18/2015)

Credit Union Residential Loan Parity Act

Amends the Federal Credit Union Act to revise the definition of "member business loan," which currently excludes an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is a member's primary residence.

Removes the condition that the dwelling be a member's primary residence, and so denying eligibility for a member business loan to any requested extension of credit that would be fully secured by a lien on a 1- to 4-family dwelling, regardless of whether it is or is not the member's primary residence.

Declares that this Act does not preclude the National Credit Union Administration from treating an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is not a member's primary residence as a member business loan for purposes other than certain member business loan limitation requirements under the Act.