[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10082 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                               H. R. 10082

    To amend the Federal Credit Union Act to expand the investment 
                  authority of Federal credit unions.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            August 13, 2026

  Ms. Bynum (for herself and Mrs. Kim) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To amend the Federal Credit Union Act to expand the investment 
                  authority of Federal credit unions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Credit Union Investment Authority 
Act''.

SEC. 2. AUTHORITY TO INVEST IN CORPORATE DEBT.

    Section 107(7) of the Federal Credit Union Act (12 U.S.C. 1757) is 
amended by striking ``general obligations of the issuer)'' and 
inserting ``general obligations of the issuer); (L) in the marketable 
obligations, bonds, notes, or other instruments of indebtedness of any 
agency, association, or company whose membership or ownership is not 
restricted to Federal credit unions and the members of credit unions or 
organizations of credit unions and that is not designed primarily to 
serve or otherwise assist credit union operations, except that no 
credit union may invest more than 10 per centum of its paid-in 
unimpaired capital and surplus in the obligations of any one issuer''.

SEC. 3. AUTHORITY TO INVEST IN ASSET-BACKED SECURITIES.

    (a) In General.--Section 107 of the Federal Credit Union Act (12 
U.S.C. 1757) is amended in paragraph (15)--
            (1) in subparagraph (B), by striking ``or'' at the end;
            (2) by redesignating subparagraph (C) as subparagraph (D); 
        and
            (3) by inserting after subparagraph (B) the following 
        subparagraph:
                    ``(C) asset-backed securities (as such term is 
                defined in section 3(a) of the Securities Exchange Act 
                of 1934); or''.
    (b) Rulemaking.--The National Credit Union Administration Board 
shall, not later than 1 year after the date of the enactment of this 
section issue regulations to carry out the amendments made by this 
section and such regulations shall include, with respect to the 
purchase of asset-backed securities by Federal Credit Unions, 
requirements relating to--
            (1) the minimum size of the issue of the asset-backed 
        securities at the time of initial distribution;
            (2) minimum aggregate sale price of the asset-backed 
        securities; and
            (3) the investment grade of the asset-backed securities.
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