H.R. 4868

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