HR1791Referred to Committee
Increasing Credit Union Lending for Business Growth Act
Introduced
In Committee
3
Passed One Chamber4
Passed Both5
Signed into Law119th
Congress
2025-03-03
Introduced
2
Cosponsors
HR
ⓘType
Sponsor
Vicente Gonzalez
Democrat · TX · Representative
Votes with party: 80.4% (637 recorded votes)
Full profile: /officials/G000581
Source: Congress.gov · FEC
Cosponsors (2)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Plain-English Summary
This bill would allow credit unions to lend more money to small businesses and entrepreneurs by increasing the amount they're permitted to loan out relative to their size. Credit unions, which are member-owned financial institutions, would gain more flexibility to support business growth and expansion in their communities. The change would help small business owners access funding from local credit unions as an alternative to traditional banks.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Affected Industries
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Finance & Banking
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Subjects
Finance and Financial Sector
Full Bill Text
Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.
[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 1791 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 1791 To amend the Federal Credit Union Act to provide more loan flexibility to credit unions, to amend the Federal Home Loan Bank Act to expand homeownership access, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 3, 2025 Mr. Vicente Gonzalez of Texas (for himself and Mr. Fitzpatrick) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Federal Credit Union Act to provide more loan flexibility to credit unions, to amend the Federal Home Loan Bank Act to expand homeownership access, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Increasing Credit Union Lending for Business Growth Act''. SEC. 2. EXPANDING CREDIT TO SMALL BUSINESSES. Section 107A(c)(1)(B)(iii) of the Federal Credit Union Act (12 U.S.C. 1757a(c)(1)(B)(iii)) is amended by striking ``$50,000'' and inserting ``$100,000''. <all>
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