A bill to amend the Federal Home Loan Bank Act with respect to membership eligibility of certain institutions.

Bill: 113-s-1806
Sponsor: full_name: Sen. Brown, Sherrod [D-OH]
Introduced: 2013-12-12
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Housing finance and home ownership
Latest action: action_date: 2014-09-16
text: Committee on Banking, Housing, and Urban Affairs. Hearings held.

Summaries:
action_date: 2013-12-12
action_desc: Introduced in Senate
text: <p>Amends the Federal Home Loan Bank Act to modify the eligibility criteria for membership in the Federal Home Loan Bank System by redefining insured depository institution to cover certain insured depository institutions as defined by the Federal Deposit Insurance Act, including insured credit unions as well as any entity that the Consumer Financial Protection Bureau (CFPB) determines: (1) is engaged in the business of receiving deposits, and (2) could reasonably be mistaken for a depository institution by the entity's current or prospective customers.</p>

tv_txt: II 113th CONGRESS 1st Session S. 1806 IN THE SENATE OF THE UNITED STATES December 12 (legislative day, December 11), 2013 Mr. Brown (for himself and Mr. Portman ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend the Federal Home Loan Bank Act with respect to membership eligibility of certain institutions.

1. Inclusion of certain depository institutions in Federal Home Loan Bank system Section 4(a)(1) of the Federal Home Loan Bank Act ( 12 U.S.C. 1424(a)(1) ) is amended by striking (as defined in section 2 of this Act) and inserting (as defined in section 43(e)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1831t(e)(2))) .