To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3866 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 3866

 To amend the Federal Credit Union Act to exclude extensions of credit 
    made to veterans from the definition of a member business loan.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 28, 2017

    Mr. Gonzalez of Texas (for himself and Mr. Cook) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Federal Credit Union Act to exclude extensions of credit 
    made to veterans from the definition of a member business loan.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. MEMBER BUSINESS LOAN DEFINITION.

    (a) In General.--Section 107A(c) of the Federal Credit Union Act 
(12 U.S.C. 1757a(c)) is amended--
            (1) in paragraph (1)(B)--
                    (A) in clause (iv), by striking ``or'' at the end;
                    (B) in clause (v), by striking the period and 
                inserting ``; or''; and
                    (C) by adding at the end the following:
                            ``(vi) made to a veteran;'';
            (2) in paragraph (2), by striking ``and'' at the end;
            (3) in paragraph (3), by striking the period and inserting 
        ``; and''; and
            (4) by adding at the end the following:
            ``(4) the term `veteran' has the meaning given such term 
        under section 101 of title 38, United States Code.''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
take effect after the end of the 6-month period beginning on the date 
of the enactment of this Act.
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