HR 164 IH

To amend the Federal Credit Union Act with respect to the definition of a member business loan.

January 3, 2001

Mr. ROYCE (for himself, Mr. BACHUS, Mr. BARTLETT of Maryland, Mr. CALVERT, Mr. DREIER, Mr. GIBBONS, Mr. LEWIS of California, Mr. SHERMAN, Mr. FILNER, Ms. LEE, Mr. THOMPSON of California, Ms. BERKLEY, Mrs. JONES of Ohio, Mr. HERGER, Mr. LATOURETTE, and Ms. ROYBAL-ALLARD) introduced the following bill; which was referred to the Committee on Banking and Financial Services

To amend the Federal Credit Union Act with respect to the definition of a member business loan.

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 `Faith-Based Lending Protection Act'.

SEC. 2. MEMBER BUSINESS LOAN EXCEPTION.

Section 107A(c)(1)(B) of the Federal Credit Union Act (12 U.S.C. 1757a(c)(1)(B)) is amended--

(1) in clause (iv), by striking `or' after the semicolon;

(2) in clause (v), by striking the period at the end and inserting `; or'; and

(3) by inserting after clause (v) the following new clause:

`(vi) that is made to a nonprofit religious organization.'.

END