HB4868: Member Business Loan Expansion Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
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.
Plain-language summary
This bill modifies two key financial laws to give credit unions more flexibility in making business loans and to expand home loan programs through Federal Home Loan Banks. Credit unions are member-owned financial institutions that offer banking services to their members. The bill seeks to make it easier for these institutions to lend to small businesses and increase homeownership opportunities. The bill is currently in the introduction stage and has not yet been assigned to a for review.
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HB4868: Member Business Loan Expansion Act