Legislative Affairs/113th Congress, significant actions
NASCUS is dedicated to providing focused and incisive advocacy on behalf of the state-chartered credit union system, with a strong voice on Capitol Hill extolling the benefits of the dual charter. NASCUS generally comments only on federal legislation which: affects the dual chartering system, impacts state-chartered credit unions, touches on state-chartered credit union share insurance requirements, or infringes upon state regulatory authority.
114th Congress, significant legislative actions
Back to Legislative Affairs home
113th Congress
Legislation |
Date |
Description |
S 1217: Housing Finance Reform and Taxpayer Protection Act of 2014 |
Introduced 12/09/14; no further action. |
Directs the Federal Mortgage Insurance Corporation (FMIC) established under Act to take all steps necessary to dissolve and eliminate the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Revokes the charters for Fannie Mae and Freddie Mac. |
HR 688: Credit Union Small Business Jobs Creation Act Related Bill: S 968 |
Introduced 02/14/13; no further action. |
Amends the FCUA to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union. |
HR 2639/ S 1013: Patent Litigation and Innovation Act (Patent Troll) *Related Bill: S 1013 |
Introduced 09/13/13; no further action. |
Modifies standards for court pleadings, joinder of parties, and stays of action/discovery in civil actions when a party is alleging infringement. |
HR 2673: Portfolio Lending and Mortgage Access Act *Related Bill: S 2641 |
Introduced 07/11/13; Hearing held by Committee on Banking, Housing & Urban Affairs on 09/16/14. |
Amends the Truth in Lending Act with respect to the permission that a creditor may presume that a residential mortgage loan has met the requirement that, at the time the loan is consummated, the consumer has a reasonable ability to repay it, if the loan is a qualified mortgage. |
HR 3211: Mortgage Choice Act of 2013
*Related Bills: S 1577, S 949 and HR 1077. |
Introduced 09/28/13; passed House 06/09/14; received by Senate on 06/10/14. |
Amends the Truth in Lending Act with respect to requirements for disclosure to a consumer of points and fees information about a consumer credit transaction, secured by the consumer's principal dwelling, but which is not a residential mortgage transaction, a reverse mortgage transaction, or a transaction under an open end credit plan, when the total points and fees the consumer must pay at or before closing will exceed 8% of the total loan amount or $400, whichever is greater. |