S 2919 111th Congress Senate Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Credit and credit markets Small business

Small Business Lending Enhancement Act of 2009

Introduced: December 21, 2009 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 21, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Dec 21, 2009

Introduced in Senate

Plain-English summary Congressional Research Service

Small Business Lending Enhancement Act of 2009 - Amends the Federal Credit Union Act to increase the total permissible amount of member business loans by an insured credit union (excluding those made to nonprofit religious organizations) to a limit of 25% of the credit union's total assets.

Increases from $50,000 to $250,000 the maximum total extensions of credit a borrower or associated member of an insured credit union may have before any extension of credit shall be considered a member business loan.

Directs the National Credit Union Administration (NCUA) Board to report semiannually to Congress on the status of member business lending made by insured credit unions during the reporting period.

What's happening now December 21, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees of jurisdiction 1