H.R. 4868 — Member Business Loan Expansion Act

Member Business Loan Expansion Act

This bill revises requirements related to the terms and lending limits of certain credit union loans.

Specifically, the bill (1) allows the National Credit Union Administration Board to lengthen the maturity term of certain loans made by a credit union, and (2) raises the credit limit for credit union member businesses under which such loans are excluded from overall credit union lending limits.

Finally, the bill expands the definition of a community financial institution by (1) allowing insured credit unions to qualify, and (2) raising the average asset limit. (Community financial institutions are subject to reduced asset requirements for purposes of Federal Home Loan Bank membership.)

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4868 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4868

To amend the Federal Credit Union Act to provide more loan flexibility 
  to credit unions, to amend the Federal Home Loan Bank Act to expand 
             homeownership access, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 25, 2023

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

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Credit Union Act to provide more loan flexibility 
  to credit unions, to amend the Federal Home Loan Bank Act to expand 
             homeownership access, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Member Business Loan Expansion 
Act''.

SEC. 2. FLEXIBILITY FOR NCUA BOARD TO INCREASE FEDERAL CREDIT UNION 
              LOAN MATURITIES.

    Section 107(5) of the Federal Credit Union Act (12 U.S.C. 1757(5)) 
is amended by inserting after ``shall not exceed 15 years'' the 
following: ``(or such longer maturity as the Board may allow, by 
regulation)''.

SEC. 3. EXPANDING CREDIT TO SMALL BUSINESSES.

    Section 107A(c)(1)(B)(iii) of the Federal Credit Union Act (12 
U.S.C. 1757a(c)(1)(B)(iii)) is amended by striking ``$50,000'' and 
inserting ``$100,000''.

SEC. 4. EXPANDING HOMEOWNERSHIP ACCESS THROUGH COMMUNITY FINANCIAL 
              INSTITUTIONS.

    Section 2(10)(A) of the Federal Home Loan Bank Act (12 U.S.C. 
1422(10)(A)) is amended--
            (1) in clause (i), by inserting after ``Federal Deposit 
        Insurance Act'' the following ``or Federal Credit Union Act''; 
        and
            (2) in clause (ii), by striking ``$1,000,000,000'' and 
        inserting ``$10,000,000,000''.
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Member Business Loan Expansion Act

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