HR 1244
115th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Bank accounts, deposits, capital
Banking and financial institutions regulation
National Credit Union Administration
Capital Access for Small Businesses and Jobs Act
Introduced: February 28, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 28, 2017
Referred to the House Committee on Financial Services.
Feb 28, 2017
Introduced in House
Plain-English summary
Capital Access for Small Businesses and Jobs Act
This bill amends the Federal Credit Union Act to allow a federal credit union, other than a low-income credit union, to receive payments on uninsured non-share accounts that:
- do not alter the cooperative nature of the credit union;
- are subordinate to all other claims against the credit union;
- are available to cover operating losses in excess of retained earnings and, to the extent so applied, will not be replenished;
- meet applicable requirements with respect to maturity;
- are subject to disclosure and consumer-protection requirements as determined by the National Credit Union Administration Board;
- are offered by a credit union that is sufficiently capitalized and well-managed; and
- are subject to such rules and regulations as the board may establish.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1