118th Congress Bill Tracker
Senate Bills
Veteran Member Business Loan Act
S. 539Veteran Member Business Loan Act
S. 539LSCU Cosponsors: N/A
Sponsors: Hirono, Sullivan (bipartisan)
Status: Introduced
Description: Exempts loans made to veteran owned businesses from the credit union MBL cap.
Credit Union Board Modernization Act
S. 610Credit Union Board Modernization Act
S. 610LSCU Cosponsors: Tuberville, Britt
Sponsors: Sinema, Hagerty, Tillis, Padilla (bipartisan, bicameral)
Status: Introduced
Description: Reduces number of federal credit union board meetings from 12 to six a year.
Agent Members of the Central Liquidity Facility
S. 544Agent Members of the Central Liquidity Facility
S. 544LSCU Cosponsors: N/A
Sponsors: Padilla, Cramer (bipartisan)
Status: Introduced
Description: Allows corporate credit unions to act as agents of the NCUA’s Central Liquidity Facility for CUs under $250M in assets.
SECURE Notarization Act
S. 1212SECURE Notarization Act
S. 1212LSCU Cosponsors: Warnock
Sponsors: Cramer, Warner, Hoeven, Coons, Moran, Peters, Cotton (bipartisan, bicameral)
Status: Introduced
Description: Allows notaries public to perform Remote Online Notarization in interstate commerce and allows signers outside of US to securely notarize documents.
The Transparency in CFPB Cost-Benefit Analysis Act
S. 1362The Transparency in CFPB Cost-Benefit Analysis Act
S. 1362LSCU Cosponsors: N/A
Sponsors: Kennedy, Hagerty, Lummis (bicameral)
Status: Introduced
Description: Requires cost-benefit analysis and regulatory burden of all rules proposed by the CFPB.
SAFE Banking Act*
S. 1323SAFE Banking Act
S. 1323LSCU Cosponsors: N/A
Sponsors: Merkley, Daines (bipartisan, bicameral)
Status: Heard in Senate Banking – May 223
Description: Provides federal protections for financial institutions accepting cannabis business.
Action Alert: https://lscu.coop/advocacy/grassroots.php
CRA of the CFPB 1071 rule
S.J. Res. 32CRA of the CFPB 1071 rule
S.J. Res. 32LSCU Cosponsors: Britt
Sponsors: Kennedy, Lummis, Fisher, etc. (bicameral)
Status: Introduced
Description: Condemns CFPB rule for financial institutions to collect and report personal information on small business loan applicants.
RECOUP Act
TBDRECOUP Act
TBDLSCU Cosponsors: Warnock
Sponsors: Tim Scott, Sherrod Brown (bipartisan)
Status: Marked up in Senate Banking – June 2023
Description: Enables claw back of CEO compensation of failed banks for up to 24 months prior to failure.
Small LENDER Act
S. 1159Small LENDER Act
S. 1159LSCU Cosponsors: Britt
Sponsors: Boozman (bipartisan, bicameral)
Status: Introduced
Description: Defines “financial institution” as one who orignates at least 500 transactions in the last two years and codifies a “small business” as one with annual revenue of $5M or less.
Credit Card Competition Act*
S. 1838Credit Card Competition Act
S. 1838LSCU Cosponsors: N/A
Sponsors: Durbin, Marshall, Vance, Welch (bipartisan, bicameral)
Status: Introduced
Description: Regulates credit card market by legislating the networks on which an electronic credit card transaction may be made.
Action Alert: https://lscu.coop/advocacy/grassroots.php