US Congress House Bill 4293 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on March 28 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]

Restore Main Street's Credit Act of 2012 - Amends the Federal Credit Union Act to exclude from the definition of "member business loan" (and related loan limits) an extension of credit made to a Main Street business (an organization, other than a nonprofit organization, with 20 or fewer full-time employees that possesses, occupies, or leases property other than a home for its business's operations). Instructs the National Credit Union Administration Board (NCUAB) to issue guidelines for extensions of credit made by an insured credit union to a Main Street business in order to promote: (1) appropriate levels of such extensions within the credit union's total lending portfolio, and (2) the credit union's cooperative nature and its safety and soundness.

Restore Main Street's Credit Act of 2012

Rep. Kurt Schrader [D-OR]	Rep. Earl Blumenauer [D-OR]	Rep. Peter DeFazio [D-OR]	Rep. Janice Hahn [D-CA]
Rep. Jesse Jackson [D-IL]

Date	Chamber	Action
2012-04-26	House	Referred to the Subcommittee on Financial Institutions and Consumer Credit.
2012-03-28	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/4293/all-info
Text	https://www.congress.gov/112/bills/hr4293/BILLS-112hr4293ih.pdf