HR 1244 · 115th Congress · Finance and Financial Sector

Capital Access for Small Businesses and Jobs Act

Introduced 2017-02-28· Sponsored by Rep. King, Peter T. [R-NY-2]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Financial Services.(2017-02-28)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (13)

9 Democrats4 Republicans