118 S544 IS: 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. U.S. Senate 2023-02-28 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.

II118th CONGRESS1st SessionS. 544IN THE SENATE OF THE UNITED STATESFebruary 28, 2023Mr. Padilla (for himself and Mr. Cramer) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsA BILLTo 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 the date that is 3 years after the date of enactment of this Act.