Credit Union Small Business Lending Act
Latest action · Apr 26, 2012 Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMar 8, 2012
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Credit Union Small Business Lending Act - Directs the Administrator of the Small Business Administration (SBA) to establish a dedicated process by which credit unions participating in a certain small business loan program may receive approvals and repurchases concerning program loan guarantees.
Requires such process to: (1) be distinct from that used by participating non-credit unions, and (2) make use of existing agency resources.
Amends the Small Business Act to direct the SBA Administrator to implement a program to: (1) provide outreach and assistance to credit unions to increase their participation in the SBA small business loan program, (2) simplify the application process for such participation, and (3) provide a guaranty of up to 85% for loans made by credit unions to their members in underserved areas.
Cosponsors 1
Members who signed on, in the order they did. All signed on Mar 8, 2012.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-OH | Steve Chabot | Original | Mar 8, 2012 |
Actions 3
Everything that happened, newest first.
- Apr 26, 2012Referred to the Subcommittee on Financial Institutions and Consumer Credit.
- Mar 8, 2012Introduced in House
- Mar 8, 2012Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Mar 8, 2012Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.