S. 5183

A bill to amend the Federal Credit Union Act to provide a sunset for certain ways in which credit unions may be Agent members of the National Credit Union Administration Central Liquidity Facility.

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II

117th CONGRESS

2d Session

S. 5183

IN THE SENATE OF THE UNITED STATES

December 5, 2022

Mr. Padilla (for himself and Mr. Cramer) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To amend the Federal Credit Union Act to provide a sunset for certain ways in which credit unions may be Agent members of the National Credit Union Administration Central Liquidity Facility.

1.

Agent membership

(a)

In general

Section 304(b)(2) of the Federal Credit Union Act (12 U.S.C. 1795c(b)(2)) is amended by striking all those credit unions and inserting such credit unions as the Board may in its discretion determine.

(b)

Sunset

(1)

In general

Section 304(b)(2) of the Federal Credit Union Act (12 U.S.C. 1795c(b)(2)) is amended by striking such credit unions as the Board may in its discretion determine and inserting all those credit unions.

(2)

Effective date

The amendments made by paragraph (1) shall take effect on December 31, 2027.