S. 1440: Credit Union Residential Loan Parity Act

114th Congress · introduced 2015-05-21 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3243; text of measure as introduced: CR S3243)

federal

Follow this bill, step by step

Where it came from: introduced 2015-05-21 · official record
Who proposed it: Sen. Wyden, Ron [D-OR] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S3243; text of measure as introduced: CR S3243) Not final yet: this can still change. We check for updates every day.
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

Credit Union Residential Loan Parity Act

Plain summary

Credit Union Residential Loan Parity Act Amends the Federal Credit Union Act to revise the definition of "member business loan," which currently excludes an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is a member's primary residence. Removes the condition that the dwelling be a member's primary residence, and so denying eligibility for a member business loan to any requested extension of credit that would be fully secured by a lien on a 1- to 4-family dwelling, regardless of whether it is or is not the member's primary residence. Declares that this Act does not preclude the National Credit Union Administration from treating an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is not a member's primary residence as a member business loan for purposes other than certain member business loan limitation requirements under the Act.

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

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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.

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What does this mean? (plain words)

Official text

Credit Union Residential Loan Parity Act

Source: Congressional Research Service summary (Introduced in Senate)

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

Officials and money

Sponsor: Sen. Wyden, Ron [D-OR] · 3 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Elizabeth Warren (D-MA), Jeff Merkley (D-OR), Edward J. Markey (D-MA)

Sponsor's campaign money: Sen. Wyden, Ron [D-OR] reported raising $1.9 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s1440.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>

Record fed-us-cong114-s1440 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114