Veterans Members Business Loan Act

Bill: 118-hr-4867
Sponsor: full_name: Rep. Gonzalez, Vicente [D-TX-34]
Introduced: 2023-07-25
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-07-25
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-07-25
action_desc: Introduced in House
text: <p><strong>Veterans Member Business Loan Act</strong></p><p>This bill excludes from credit union aggregate loan limitations member business loans made to veterans.&nbsp;</p>

tv_txt: I 118th CONGRESS 1st Session H. R. 4867 IN THE HOUSE OF REPRESENTATIVES July 25, 2023 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 exclude extensions of credit made to veterans from the definition of a member business loan.

1. Short title This Act may be cited as the Veterans Members Business Loan Act . 2. Member business loan definition (a) In general Section 107A(c) of the Federal Credit Union Act ( 12 U.S.C. 1757a(c) ) is amended— (1) in paragraph (1)(B)— (A) in clause (iv), by striking or at the end; (B) in clause (v), by striking the period and inserting ; or ; and (C) by adding at the end the following: (vi) made to a veteran; ; (2) in paragraph (2), by striking and at the end; (3) in paragraph (3), by striking the period and inserting ; and ; and (4) by adding at the end the following: (4) the term veteran has the meaning given such term under section 101 of title 38, United States Code. . (b) Effective date The amendments made by subsection (a) shall take effect after the end of the 6-month period beginning on the date of the enactment of this Act.