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S 1440 114th Congress Senate Finance and Financial Sector Credit and credit markets Housing finance and home ownership Real estate business

Credit Union Residential Loan Parity Act

Introduced: May 21, 2015 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 21, 2015
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3243; text of measure as introduced: CR S3243)
May 21, 2015
Introduced in Senate
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 Plain-English summary Congressional Research Service

Credit Union Residential Loan Parity Act

Amends the Federal Credit Union Act to revise the definition of "member business loan," which currently excludes an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is a member's primary residence.

Removes the condition that the dwelling be a member's primary residence, and so denying eligibility for a member business loan to any requested extension of credit that would be fully secured by a lien on a 1- to 4-family dwelling, regardless of whether it is or is not the member's primary residence.

Declares that this Act does not preclude the National Credit Union Administration from treating an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is not a member's primary residence as a member business loan for purposes other than certain member business loan limitation requirements under the Act.

What's happening now May 21, 2015

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3243; text of measure as introduced: CR S3243)

 Related & companion bills 1
  • HR 1422 Identical bill Credit Union Residential Loan Parity Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Markey, Edward J.
Massachusetts · Sep 26, 2016
 D
Merkley, Jeff
Oregon · Mar 1, 2016
 D
Warren, Elizabeth
Massachusetts · Feb 23, 2016
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1440: Credit Union Residential Loan Parity Act. 114th Congress. Open America. https://openamerica.io/bill/114-S-1440/
MLA
"S. 1440: Credit Union Residential Loan Parity Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-1440/.
Bluebook (legal)
S. 1440, 114th Cong. (2026), https://openamerica.io/bill/114-S-1440/.
Markdown link
[S. 1440: Credit Union Residential Loan Parity Act](https://openamerica.io/bill/114-S-1440/)
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