S. 1806 · 113th Congress
A bill to amend the Federal Home Loan Bank Act with respect to membership eligibility of certain institutions.
- Stage
- In committee
- Sponsor
- Sherrod Brown
- Introduced
- 2013-12-12
- Latest action
- 2014-09-16 · Committee on Banking, Housing, and Urban Affairs. Hearings held.
Summary
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.