H.R. 10082

119 HR 10082 IH: Credit Union Investment Authority Act
 U.S. House of Representatives
 2026-08-13
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 I  119th CONGRESS  2d Session  H. R. 10082  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.
1.
Short title
This Act may be cited as the   Credit Union Investment Authority Act  .
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 .
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.