US Congress House Bill 5419 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on June 9 2016 - 25% progression, died in committee
Action: 2016-06-09 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Credit Union Examination Reform Act of 2016 This bill amends the Federal Credit Union Act to permit an examination to be carried out only once every 18 months of a federal credit union or an insured credit union that: has total assets of less than $1 billion; is well capitalized (or adequately capitalized, in the case of an insured credit union); was found in its most recent examination to be well managed, with a composite rating (under the Uniform Financial Institutions Rating System) of 1, in the case of a credit union that has total assets of more than $200 million, or 1 or 2, in the case of a credit union that has total assets of $200 million or less; and is not currently subject to a formal enforcement proceeding or order by the National Credit Union Administration (NCUA). Such limitation shall not apply if the NCUA determines that such a credit union: (1) should be examined more often because of safety and soundness concerns, or (2) has violated the law. The NCUA shall issue a report on how this bill affects its budget.

Credit Union Examination Reform Act of 2016

Rep. Frank Guinta [R-NH]

Date	Chamber	Action
2016-06-09	House	Referred to the House Committee on Financial Services.
2016-06-09	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/5419/all-info
Text	https://www.congress.gov/114/bills/hr5419/BILLS-114hr5419ih.pdf