US Congress House Bill 4191 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on March 8 2012 - 25% progression, died in committee
Action: 2012-04-26 - Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Pending: House Subcommittee on Financial Institutions and Consumer Credit Committee
Text: Latest bill text (Introduced) [PDF]

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.

Credit Union Small Business Lending Act

Rep. Kurt Schrader [D-OR]

Rep. Steve Chabot [R-OH]

Date	Chamber	Action
2012-04-26	House	Referred to the Subcommittee on Financial Institutions and Consumer Credit.
2012-03-08	House	Referred to House Financial Services
2012-03-08	House	Referred to House Small Business
2012-03-08	House	Referred 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.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/4191/all-info
Text	https://www.congress.gov/112/bills/hr4191/BILLS-112hr4191ih.pdf