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Changes to Credit Union Access to NCUA Central Liquidity Facility

This bill amends the rules for credit unions to be agent members of the Central Liquidity Facility. Until the end of 2027, the facility's board will have discretion over which credit unions can be members. After this date, all credit unions will again be able to become members, potentially impacting financial stability and service availability for credit union customers.
Key points
Until December 31, 2027, the Central Liquidity Facility board will decide which credit unions can be agent members.
Starting January 1, 2028, all credit unions will regain the ability to be agent members of the facility.
These changes may affect how credit unions manage their liquidity and access financial support.
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Additional Information
Print number: 117_S_5183
Sponsor: Sen. Padilla, Alex [D-CA]
Process start date: 2022-12-05
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to amend the Federal Credit Union Act to provide a sunset for certain ways in which credit unions may be Agent members of the National Credit Union Administration Central Liquidity Facility.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_5183.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-12-05.

What are the main provisions?

Key points include:

  • Until December 31, 2027, the Central Liquidity Facility board will decide which credit unions can be agent members.
  • Starting January 1, 2028, all credit unions will regain the ability to be agent members of the facility.
  • These changes may affect how credit unions manage their liquidity and access financial support.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Padilla, Alex [D-CA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy