H.R. 3656 · 113th Congress
Small Business and Community Investments Expansion Act of 2013
- Stage
- In committee
- Sponsor
- Keith Ellison
- Introduced
- 2013-12-05
- Latest action
- 2013-12-05 · Referred to the House Committee on Financial Services.
Summary
The Small Business and Community Investments Expansion Act of 2013 - Amends the Federal Home Loan Bank Act to authorize Federal Home Loan Banks to make long-term secured advances to their members to provide funds to community development financial institutions.
Requires a Bank, at the time of origination or renewal of a loan or advance, to obtain and maintain a security interest in collateral eligible pursuant to any secured loan for any community development financial institution.