summary
Introduced
03/03/2025
03/03/2025
In Committee
03/03/2025
03/03/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
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.
AI Summary
This bill aims to increase lending flexibility for credit unions by modifying the Federal Credit Union Act. Specifically, the bill increases the lending limit for small business loans from $50,000 to $100,000, which would allow credit unions to provide larger loans to small businesses, potentially supporting more business growth and economic development. The bill's provisions are relatively straightforward, focusing on expanding credit access by simply doubling the maximum loan amount that credit unions can extend to small businesses. By raising this threshold, the legislation seeks to give credit unions more capacity to support small business financing, which could be particularly beneficial for local and community-based financial institutions that play a crucial role in supporting small enterprises.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Referred to the House Committee on Financial Services. (on 03/03/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/1791/all-info |
| BillText | https://www.congress.gov/119/bills/hr1791/BILLS-119hr1791ih.pdf |
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