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H.R.3584: Capital Access for Small Community Financial Institutions Act of 2014

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Steve Stivers, R-Ohio
Total Cosponsors 3 (2 Democrats, 1 Republican)
Introduced Nov. 21, 2013
Latest Major Action May 7, 2014
See it on GovTrack
See it on C-SPAN

Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

Capital Access for Small Community Financial Institutions Act of 2014 - (Sec. 2) Amends the Federal Home Loan Bank Act to treat certain privately insured credit unions as insured depository institutions for purposes of determining eligibility for membership in a federal home loan bank.

Permits a credit union which lacks federal deposit insurance and has applied for membership in a federal home loan bank to be treated as meeting all the eligibility requirements for federal deposit insurance if the supervisor of the chartering state has determined that it meets all federal deposit insurance eligibility requirements.

Deems such a credit union to have met the eligibility criteria for federal home loan bank membership if, six months after its application date, the state supervisor has failed to act upon the application.

Prohibits the application of a state law authorizing a conservator or liquidating agent of a credit union to repudiate contracts to any: (1) exte...

(Source: Congressional Research Service)

Bill Actions

Date Description
May 7, 2014 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 6, 2014

On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 395 - 0 (Roll no. 195). (text: CR H3418)

May 6, 2014 Considered as unfinished business. (consideration: CR H3434)
May 6, 2014 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
May 6, 2014 DEBATE - The House proceeded with forty minutes of debate on H.R. 3584.
May 6, 2014 Considered under suspension of the rules. (consideration: CR H3418-3420)
May 6, 2014 Mrs. Capito moved to suspend the rules and pass the bill, as amended.
March 14, 2014 Ordered to be Reported (Amended) by the Yeas and Nays: 55 - 0.
March 14, 2014 Committee Consideration and Mark-up Session Held.
Dec. 4, 2013 Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Nov. 21, 2013 Referred to the House Committee on Financial Services.