H.R. 3113, The Affordable Financial Services Enhancement Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3113 would clarify congressional intent with respect to the provision of affordable financial services by all types of Federal credit unions in underserved areas.

Detailed Summary

Affordable Financial Services Enhancement Act - Amends the Federal Credit Union Act to revise the credit union categories of field of membership that may be included in an underserved investment area.

Repeals the limitation of credit union categories in such areas to the multiple common-bond credit union membership category.

Extends to single common-bond credit unions and community credit unions the National Credit Union Board's authority to allow the membership of a credit union in such an area to include any person or organization within the local community, neighborhood, or rural district.

Status of the Legislation

Latest Major Action: 7/19/2007: Referred to House committee. Status: Referred to the House Committee on Financial Services.

Points in Favor

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Points Against

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