Sec. 4. Reports to Congress on Member Business Lending
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Not later than 3 years after the date of enactment of this Act, the Board shall submit a report to Congress on member business lending by insured credit unions. The report required under paragraph
(1)shall include— the types and asset size of insured credit unions making member business loans and the member business loan limitations applicable to the insured credit unions; the overall amount and average size of member business loans by each insured credit union; the ratio of member business loans by insured credit unions to total assets and net worth; the performance of the member business loans, including delinquencies and net charge offs; the effect of this Act and the amendments made by this Act on the number of insured credit unions engaged in member business lending, any change in the amount of member business lending, and the extent to which any increase is attributed to the change in the limitation in section 107A(a) of the Federal Credit Union Act (12 U.S.C. 1757a(a)), as amended by this Act; the number, types, and asset size of insured credit unions that were denied or approved by the Board for increased member business loans under section 107A(a)(2) of the Federal Credit Union Act ( 12 U.S.C. 1757a(a)(2) ), as amended by this Act, including denials and approvals under the tiered approval process; the types and sizes of businesses that receive member business loans, the duration of the credit union membership of the businesses at the time of the loan, the types of collateral used to secure member business loans, and the income level of members receiving member business loans; and the effect of any increases in member business loans on the risk to the National Credit Union Share Insurance Fund and the assessments on insured credit unions. The Comptroller General of the United States shall conduct a study on the status of member business lending by insured credit unions, including— trends in such lending; types and amounts of member business loans; the effectiveness of this section in enhancing small business lending; recommendations for legislative action, if any, with respect to such lending; and any other information that the Comptroller General considers relevant with respect to such lending. Not later than 3 years after the date of enactment of this Act, the Comptroller General shall submit a report to Congress on the study required under paragraph (1).
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Sec. 4
Reports to Congress on Member Business Lending
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