H.R. 4868

[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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