U.S. Capitol building The U.S. Capitol building. (Photo: Shutterstock)

On Monday, Sens. Alex Padilla (D-Calif.) and Kevin Cramer (R-N.D.) introduced a bill to amend the Federal Credit Union Act in a way that would allow corporate credit unions to target purchases of Central Liquidity Facility capital stock for a specific subset of credit union members, rather than for all members.

According to a statement from Sen. Padilla, the bill (S. 5183) would give a boost to smaller credit unions that are having a difficult time with liquidity issues.

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Michael Ogden

Editor-in-Chief for CU Times.

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