To amend the Federal Credit Union Act to permit credit unions to serve certain underserved areas, and for other purposes.
Expanding Financial Access for Underserved Communities Act
This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population.
The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4823)
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 27 - 22.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-351.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-351.
Placed on the Union Calendar, Calendar No. 265.
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