I 
114TH CONGRESS 
1ST SESSION 
H. R. 989 
To clarify the National Credit Union Administration authority to improve 
credit union safety and soundness. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 13, 2015 
Mr. KING of New York (for himself, Mr. SHERMAN, Mr. HANNA, Mr. BLU-
MENAUER, Mr. HECK of Washington, Mr. ISRAEL, Mr. JONES, Mrs. 
NAPOLITANO, Ms. PINGREE, Ms. NORTON, Mr. COLLINS of New York, 
Mr. POSEY, Mr. SCHIFF, Mr. TAKANO, Mr. HUFFMAN, and Mr. MEEKS) 
introduced the following bill; which was referred to the Committee on Fi-
nancial Services 
A BILL 
To clarify the National Credit Union Administration 
authority to improve credit union safety and soundness. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Capital Access for 
Small Businesses and Jobs Act’’. 
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SEC. 2. IMPROVING CREDIT UNION SAFETY AND SOUND-
NESS. 
The Federal Credit Union Act (12 U.S.C. 1751 et 
seq.) is amended— 
(1) in section 107— 
(A) in paragraph (16), by striking ‘‘and’’ 
at the end; 
(B) in paragraph (17), by striking the pe-
riod and inserting ‘‘; and’’; and 
(C) by adding at the end the following: 
‘‘(18) to receive payments on uninsured non- 
share 
accounts 
described 
under 
section 
216(o)(2)(D), subject to such terms, rates, and con-
ditions as may be established by the board of direc-
tors, within limitations prescribed by the Board.’’; 
and 
(2) in section 216— 
(A) in subsection (b)(1)(B)(ii), by striking 
‘‘must rely’’ and inserting ‘‘rely predomi-
nantly’’; and 
(B) in subsection (o)(2)— 
(i) in subparagraph (B), by striking 
‘‘and’’ at the end; 
(ii) in subparagraph (C)(ii), by strik-
ing the period and inserting ‘‘; and’’; and 
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(iii) by adding at the end the fol-
lowing: 
‘‘(D) with respect to any insured credit 
union other than a low-income credit union, in-
cludes uninsured non-share accounts as author-
ized by the Board, that— 
‘‘(i) do not alter the cooperative na-
ture of the credit union; 
‘‘(ii) are subordinate to all other 
claims against the credit union, including 
the claims of creditors, shareholders, and 
the Fund; 
‘‘(iii) are available to be applied to 
cover operating losses of the credit union 
in excess of its retained earnings and, to 
the extent so applied, will not be replen-
ished; 
‘‘(iv) if they have a stated maturity, 
have an initial maturity of at least 5 years; 
‘‘(v) if they have a stated maturity, 
the net worth value of such accounts may 
be discounted at the discretion of the 
Board when the remaining maturity is less 
than 5 years; 
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‘‘(vi) are subject to disclosure and 
consumer protection requirements as deter-
mined by the Board; 
‘‘(vii) are offered by a credit union 
that is determined by the Board to be suf-
ficiently capitalized and well-managed; and 
‘‘(viii) are subject to such rules and 
regulations as the Board may establish.’’. 
Æ 
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