S. 110

Veterans Member Business Loan Act

Shown here: Introduced in Senate (2025-01-16)

To amend the Federal Credit Union Act to exclude extensions of credit made to veterans from the definition of a member business loan.

1. Short title

This Act may be cited as the “Veterans Member Business Loan Act”.

Section 107A(c) of the Federal Credit Union Act (12 U.S.C. 1757a(c)) is amended—

(1) in paragraph (1)(B)—

(A) in clause (iv), by striking “or” at the end;

(B) in clause (v), by striking the period at the end and inserting “; or”; and

(C) by adding at the end the following:

(vi) made to a veteran;

(2) in paragraph (2)(B)(ii), by striking “and” at the end;

(3) in paragraph (3), by striking the period at the end and inserting “; and”; and

(4) by adding at the end the following:

(4) the term veteran has the meaning given the term in section 101 of title 38, United States Code.

The amendments made by subsection (a) shall take effect on the date that is 180 days after the date of enactment of this Act.

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