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S. 2231: Small Business Lending Enhancement Act of 2012

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S. 2231: Small Business Lending Enhancement Act of 2012

112th Congress · introduced 2012-03-22 · Finance and Financial Sector · Latest: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 340.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2012-03-22 · official record
  2. Who proposed it: Sen. Udall, Mark [D-CO] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 340. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Small Business Lending Enhancement Act of 2012

Plain summary

Small Business Lending Enhancement Act of 2012 - Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union. Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would result in a total amount of such loans outstanding at any one time of up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria. Prohibits an insured credit union that has made such a member business loan but that is not well capitalized from making any new member business loans until it becomes well capitalized and obtains Board approval. Directs the Board to develop a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations. Directs the Comptroller General to study the status of member business lending by insured credit unions.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Small Business Lending Enhancement Act of 2012

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

Arguments for (supporters)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Udall, Mark [D-CO] · 21 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Charles E. Schumer (D-NY), Susan M. Collins (R-ME), Kirsten E. Gillibrand (D-NY), Rand Paul (R-KY), Jack Reed (D-RI), Bernard Sanders (I-VT), Sheldon Whitehouse (D-RI), Ron Wyden (D-OR)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong112-s2231 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112