3.0.0 3468 2023-03-22T18:49:18Z 2023-03-22T18:49:18Z House H HR 2013-11-13 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ROYCE:H.R. 3468.Congress has the power to enact this legislation pursuantto the following:Under Article I, Section 8, Clause 3 of the U.S.Constitution to regulate commerce.[Page H7052]]]> ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Discharged from 2014-12-11T19:02:26Z Referred to 2014-05-07T16:41:25Z hsba00 Financial Services Committee House Standing Markup by 2013-11-14T14:36:53Z Referred to 2013-11-13T15:02:45Z Regulatory Relief for Credit Unions Act of 2013 113 2572 HR 2013-06-28 Referred to the House Committee on Financial Services. Related bill CRS RELIEVE Act 113 2698 S 2014-09-16 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS A bill to require the National Credit Union Administration to provide pass-through share insurance for the deposits or shares of any interest on lawyers trust accounts, and for other purposes. 113 2699 S 2014-07-30 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2014-12-18 Became Public Law No: 113-252. President E40000 2 House floor actions 2014-12-18 Became Public Law No: 113-252. BecameLaw 36000 9 Library of Congress 2014-12-18 Signed by President. President E30000 2 House floor actions 2014-12-18 Signed by President. BecameLaw 36000 9 Library of Congress 2014-12-12 Presented to President. Floor E20000 2 House floor actions 2014-12-12 Presented to President. President 28000 9 Library of Congress 2014-12-11 Senate Message on Senate action sent to the House. Floor 2014-12-11 Senate Passed Senate without amendment by Unanimous Consent. Floor 2014-12-11 Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent. Floor 17000 9 Library of Congress 2014-12-11 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S6608) Discharge 2014-12-11 Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S6608) Committee 14500 9 Library of Congress ssbk00 Banking, Housing, and Urban Affairs Committee 2014-05-07 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2014-05-06 17:40:46 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3426) Floor H37300 2 House floor actions 2014-05-06 17:40:46 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H3426) Floor 8000 9 Library of Congress 2014-05-06 17:31:48 DEBATE - The House proceeded with forty minutes of debate on H.R. 3468. Floor H8D000 2 House floor actions 2014-05-06 17:31:46 Considered under suspension of the rules. (consideration: CR H3426-3428) Floor H30000 2 House floor actions 2014-05-06 17:31:30 Mr. Royce moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2013-11-14 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2013-11-14 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2013-11-13 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-11-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-11-13 Introduced in House IntroReferral 1000 9 Library of Congress R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 N P000593 Rep. Perlmutter, Ed [D-CO-7] Ed Perlmutter D CO 7 2013-11-13 True M001139 Rep. Miller, Gary G. [R-CA-31] GARY MILLER R CA 31 2013-11-13 True S000344 Rep. Sherman, Brad [D-CA-30] BRAD SHERMAN D CA 30 2013-11-13 True P000595 Rep. Peters, Gary C. [D-MI-14] Gary Peters D MI 14 2013-11-18 False Public Law 113-252 Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Bankruptcy Interest, dividends, interest rates Lawyers and legal services Finance and Financial Sector 00 2013-11-13 Introduced in House 2013-12-03T19:42:04Z Credit Union Share Insurance Fund Parity Act - Amends the Federal Credit Union Act to include in the net amount of share insurance payable to any member at an insured credit union the total amount of the shares or deposits held in the member's account on behalf of another person, after making certain offsets and deductions.

Modifies National Credit Union Administration (NCUA) Board authority to define the extent of the share insurance coverage provided where a member holds funds for the use of a nonmember. Requires coverage for an account established by a member to be consistent with Federal Deposit Insurance Corporation (FDIC) coverage, regardless of the membership status of the owner of the funds deposited in an account established by a credit union member.

]]> 36 2014-05-06 Passed House amended 2014-10-08T19:54:39Z Credit Union Share Insurance Fund Parity Act - Amends the Federal Credit Union Act regarding insured amounts payable in connection with a bankrupt state-chartered credit union for which the National Credit Union Administration (NCUA) Board is the liquidating agent.

Revises requirements relating to the limitation to the standard maximum share insurance amount ($250,000) for the net amount of share insurance payable to any member at an insured credit union in the event of such a bankruptcy. Applies the limitation also to any person with funds lawfully held in a member account.

Requires the Board to provide pass-through share insurance paid by certain lawyers administering deposits or shares of any interest on a lawyer's trust account (IOLTA), or paid by the escrow agent administering other similar escrow accounts.

Defines "IOLTA" as a system in which lawyers place certain client funds in interest-bearing or dividend-bearing accounts, with the interest or dividends then used to fund programs such as legal service organizations providing services to clients in need.

Treats IOLTAs as escrow accounts for share insurance purposes, and considers them as member accounts if the administering attorney or escrow agent is a member of the insured credit union in which the funds are held.

Declares that nothing in this Act shall be construed as authorizing an insured credit union to accept IOLTA or similar escrow account deposits in an amount greater than authorized under federal or state law.

]]> 82 2014-12-11 Passed Senate without amendment 2014-12-22T15:41:18Z (This measure has not been amended since it was passed by the House on May 6, 2014. The summary of that version is repeated here.)

Credit Union Share Insurance Fund Parity Act - Amends the Federal Credit Union Act regarding insured amounts payable in connection with a bankrupt state-chartered credit union for which the National Credit Union Administration (NCUA) Board is the liquidating agent.

Revises requirements relating to the limitation to the standard maximum share insurance amount ($250,000) for the net amount of share insurance payable to any member at an insured credit union in the event of such a bankruptcy. Applies the limitation also to any person with funds lawfully held in a member account.

Requires the Board to provide pass-through share insurance paid by certain lawyers administering deposits or shares of any interest on a lawyer's trust account (IOLTA), or paid by the escrow agent administering other similar escrow accounts.

Defines "IOLTA" as a system in which lawyers place certain client funds in interest-bearing or dividend-bearing accounts, with the interest or dividends then used to fund programs such as legal service organizations providing services to clients in need.

Treats IOLTAs as escrow accounts for share insurance purposes, and considers them as member accounts if the administering attorney or escrow agent is a member of the insured credit union in which the funds are held.

Declares that nothing in this Act shall be construed as authorizing an insured credit union to accept IOLTA or similar escrow account deposits in an amount greater than authorized under federal or state law.

]]> 49 2014-12-18 Public Law 2015-01-05T16:37:25Z (This measure has not been amended since it was passed by the House on May 6, 2014. The summary of that version is repeated here.)

Credit Union Share Insurance Fund Parity Act - Amends the Federal Credit Union Act regarding insured amounts payable in connection with a bankrupt state-chartered credit union for which the National Credit Union Administration (NCUA) Board is the liquidating agent.

Revises requirements relating to the limitation to the standard maximum share insurance amount ($250,000) for the net amount of share insurance payable to any member at an insured credit union in the event of such a bankruptcy. Applies the limitation also to any person with funds lawfully held in a member account.

Requires the Board to provide pass-through share insurance paid by certain lawyers administering deposits or shares of any interest on a lawyer's trust account (IOLTA), or paid by the escrow agent administering other similar escrow accounts.

Defines "IOLTA" as a system in which lawyers place certain client funds in interest-bearing or dividend-bearing accounts, with the interest or dividends then used to fund programs such as legal service organizations providing services to clients in need.

Treats IOLTAs as escrow accounts for share insurance purposes, and considers them as member accounts if the administering attorney or escrow agent is a member of the insured credit union in which the funds are held.

Declares that nothing in this Act shall be construed as authorizing an insured credit union to accept IOLTA or similar escrow account deposits in an amount greater than authorized under federal or state law.

]]> Credit Union Share Insurance Fund Parity Act Display Title Credit Union Share Insurance Fund Parity Act Official Title as Introduced To amend the Federal Credit Union Act to extend insurance coverage to amounts held in a member account on behalf of another person, and for other purposes. Introduced in House IH Short Titles as Introduced Credit Union Share Insurance Fund Parity Act Short Titles as Passed House Credit Union Share Insurance Fund Parity Act H House Short Titles as Passed Senate Credit Union Share Insurance Fund Parity Act S Senate Short Titles as Enacted Credit Union Share Insurance Fund Parity Act Enrolled Bill https://www.govinfo.gov/content/pkg/BILLS-113hr3468enr/xml/BILLS-113hr3468enr.xml Referred in Senate 2014-05-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr3468rfs/xml/BILLS-113hr3468rfs.xml Engrossed in House 2014-05-06T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr3468eh/xml/BILLS-113hr3468eh.xml Introduced in House 2013-11-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr3468ih/xml/BILLS-113hr3468ih.xml 2014-12-19T04:59:59Z https://www.govinfo.gov/content/pkg/PLAW-113publ252/uslm/PLAW-113publ252.xml Public Law 2014-12-18 Became Public Law No: 113-252. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.