Credit Union Share Insurance Fund Parity Act
Public Law 113-252 · H.R. 3468 · 113th Congress · began in the House
Signed by Barack Obama (D) on Dec 18, 2014 · Finance and Financial Sector
Sponsor: Rep. Ed Royce (R-CA-39)
Cosponsors (4): Rep. Ed Perlmutter, Rep. Gary Miller,
Passage votes
- HouseVoice vote
- SenateUnanimous consent
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Credit Union Share Insurance Fund Parity Act - Amends the Federal Credit Union Act regarding insured amounts payable in connection with a bankrupt state-chartered credit union for which the National Credit Union Administration (NCUA) Board is the liquidating agent.
Revises requirements relating to the limitation to the standard maximum share insurance amount ($250,000) for the net amount of share insurance payable to any member at an insured credit union in the event of such a bankruptcy. Applies the limitation also to any person with funds lawfully held in a member account.
Requires the Board to provide pass-through share insurance paid by certain lawyers administering deposits or shares of any interest on a lawyer's trust account (IOLTA), or paid by the escrow agent administering other similar escrow accounts.
Defines "IOLTA" as a system in which lawyers place certain client funds in interest-bearing or dividend-bearing accounts, with the interest or dividends then used to fund programs such as legal service organizations providing services to clients in need.
Treats IOLTAs as escrow accounts for share insurance purposes, and considers them as member accounts if the administering attorney or escrow agent is a member of the insured credit union in which the funds are held.
Declares that nothing in this Act shall be construed as authorizing an insured credit union to accept IOLTA or similar escrow account deposits in an amount greater than authorized under federal or state law.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Related bills
3 bills the Library of Congress relates to this one.
H.R. 2572Related bill
Regulatory Relief for Credit Unions Act of 2013
S. 2698Related bill
RELIEVE Act
S. 2699Related bill
A bill to require the National Credit Union Administration to provide pass-through share insurance for the deposits or shares of any interest on lawyers trust accounts, and for other purposes.
Data notes
Related bills are identified by the Congressional Research Service, the House and the Senate: companion and identical bills, bills with similar text, bills that were folded into this law, and rules that brought it to the floor. A bill that is itself a public law in this site’s data links here; the others link to Congress.gov.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 15 actions.
- Dec 18, 2014Became lawBecame law · Became Public Law No: 113-252.
- Became lawBecame law · Signed by President.
- Dec 12, 2014FloorFloor · Presented to President.
- Dec 11, 2014FloorFloor · Message on Senate action sent to the House.
- FloorFloor · Passed Senate without amendment by Unanimous Consent.
- CommitteeCommittee · Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
- May 7, 2014CommitteeCommittee · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- May 6, 2014FloorFloor · On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- FloorFloor · DEBATE - The House proceeded with forty minutes of debate on H.R. 3468.
- FloorFloor · Considered under suspension of the rules.
- FloorFloor · Mr. Royce moved to suspend the rules and pass the bill, as amended.
- Nov 14, 2013CommitteeCommittee · Ordered to be Reported (Amended) by Voice Vote.
- CommitteeCommittee · Committee Consideration and Mark-up Session Held.
- Nov 13, 2013CommitteeCommittee · Referred to the House Committee on Financial Services.
- IntroducedIntroduced · Introduced in House
Data notes
Every action the Library of Congress lists for the bill, from introduction to signing, plus the dated committee hearings. The source lists many steps twice (the chamber’s own entry and the Library of Congress copy, or a presidential and a became-law entry with the same words); those are shown once. Amendments are listed in their own section.
Amendments
No amendments to this bill are on record.
Data notes
Amendments offered to this bill in either chamber, as the Library of Congress records them: each with a status read from its last recorded step: agreed to, rejected, withdrawn, ruled out of order, fell with another amendment, or offered with no vote recorded (most Senate amendments are only ever offered). The wording of each amendment is the source’s. Amendments to amendments and amendments to other bills are not listed.
Official record
The bill’s full text is on Congress.gov. Data through Oct 7, 2026.