Increasing Credit Union Lending for Business Growth Act

Referred to the House Committee on Financial Services.

Bill 119 HR 1791, also known as the Credit Union Loan Flexibility Act, aims to make changes to the Federal Credit Union Act in order to give credit unions more flexibility when it comes to providing loans to their members. The bill also seeks to amend the Federal Home Loan Bank Act in order to expand access to homeownership.

Specifically, the bill would allow credit unions to offer a wider range of loan products to their members, including small business loans and mortgages. This would help credit unions better meet the needs of their members and support economic growth in their communities.

Additionally, the bill would make changes to the Federal Home Loan Bank Act in order to make it easier for individuals to access affordable housing. This could include measures such as expanding access to mortgage credit and providing support for first-time homebuyers. Overall, the Credit Union Loan Flexibility Act aims to support the mission of credit unions to serve their members and promote economic development. It is a bipartisan effort to improve access to credit and homeownership opportunities for individuals and families across the country.