,,ii  #aagth ,,congress  #b;d ,session  
,s4 #dhgi  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #ai1
 #bjbb,mr4 ,padilla introduced the      
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to amend the ,federal ,credit  
,union ,act to permit credit unions to  
serve certain underserved areas1 and for
 other purposes4  #a4 ,short title ,this
 ,act may be cited as the ,expanding    
,financial ,access for ,underserved     
,communities ,act4  #b4 ,credit union   
service to underserved areas ,section   
#aji of the ,federal ,credit ,union ,act
 7#ab ,u4,s4,c4 #agei7 is amended-- 7#a7
 in subsection 7c77#b7-- 7,a7 by        
striking the field of membership        
category of which is described in       
subsection 7b77#b712  7,b7 by amending  
subparagraph 7,a7 to read as follows3   
7,a7 the ,board determines that the     
local community1 neighborhood1 or rural 
district is an underserved area2 and  2 

and  7,c7 in subparagraph 7,b71 by      
inserting not later than #b years after 
having such underserved area added to   
the credit union's charter1 before the  
credit union2 and  7#b7 by adding at the
 end the following3  7h7 ,change of     
field of membership ,to include         
underserved areas  7#a7 ,in general ,if 
an existing ,federal credit union       
applies to the ,board to alter or expand
 the field of membership of the credit  
union to serve an underserved area1 the 
credit union shall submit a business and
 marketing plan with such application   
that explains the ability and intent of 
the credit union to serve the population
 of the underserved area through the    
change in field of membership4  7#b7    
,report by credit union ,not later than 
#b years after the date on which an     
application described under paragraph   
7#a7 is approved1 the credit union1 as  
part of the ordinary course of the      
examination cycle and supervision       
process1 shall submit a report to the   

,administration that includes-- 7,a7 an 
estimate of the number of members of the
 credit union who are members by reason 
of the application1 including breakdowns
 by each ,state 7including the ,district
 of ,columbia and each territory of the 
,united ,states71 ,tribal government    
entity1 and congressional district2     
7,b7 a description of the types of      
financial services utilized by members  
of the credit union who are members by  
reason of the application2  7,c7 an     
update of the implementation of the     
credit union of the business and        
marketing plan described under paragraph
 7#a72 and  7,d7 a description of the   
types of financial education programs   
made available to members of the credit 
union1 including those who are members  
by reason of the application and those  
in rural areas1 where applicable4  4    
#c4 ,member business lending in         
underserved areas ,section              
#ajg;,a7c77#a77;,b7 of the ,federal     
,credit ,union ,act 7#ab ,u4,s4,c4      

#ageg;a7c77#a77;,b77 is amended-- 7#a7  
in clause 7iv71 by striking or at the   
end2  7#b7 in clause 7v71 by striking   
the period and inserting 2 or2 and  7#c7
 by adding at the end the following3    
7vi7 that is made to a member or        
associated borrower that lives in or    
operates in an underserved area4  4  #d4
 ,underserved area defined ,section #aja
 of the ,federal ,credit ,union ,act    
7#ab ,u4,s4,c4 #ageb7 is amended-- 7#a7 
in paragraph 7#h71 by striking 2 and and
 inserting a period2  7#b7 in paragraph 
7#i71 by striking the period at the end 
and inserting 2 and2 and  7#c7 by adding
 at the end the following3  7#aj7 the   
term underserved area means a geographic
 area consisting of #a or more          
population census tracts or #a or more  
counties1 that encompass or are located 
within-- 7,a7 an investment area1 as    
defined in section #ajc7af7 of the      
,community ,development ,banking and    
,financial ,institutions ,act of #aiid  
7#ab ,u4,s4,c4 #dgjb7af772  7,b7 groups 

of contiguous census tracts in which at 
least #he percent individually qualify  
as low-income communities1 as defined in
 section #de;,d7e7 of the ,internal     
,revenue ,code of #aihf2 or  7,c7 an    
area that is more than #aj miles1 as    
measured from each point along the      
perimeter of the area1 from the nearest 
branch of a depository institution1 as  
defined in section #c of the ,federal   
,deposit ,insurance ,act 7#ab ,u4,s4,c4 
#ahac7 or credit union4  4  #e4 ,reports
 by the ,national ,credit ,union        
,administration  7a7 ,initial report    
,during the #a-year period beginning on 
the date that is #b years after the date
 of enactment of this ,act1 the         
,national ,credit ,union ,administration
 shall submit to the ,committee on      
,banking1 ,housing1 and ,urban ,affairs 
of the ,senate and the ,committee on    
,financial ,services of the ,house of   
,representatives a report on the        
implementation of the amendments made by
 this ,act4  7b7 ,update ,on the date   

that is #e years after the date on which
 the report required under subsection   
7a7 is submitted1 the ,national ,credit 
,union ,administration shall submit to  
the committees described that subsection
 an updated report4  #f4 ,rule of       
construction ,nothing in this ,act or   
the amendments made by this ,act may be 
construed to prevent or otherwise impede
 the ability of insured depository      
institutions1 as defined in section #c  
of the ,federal ,deposit ,insurance ,act
 7#ab ,u4,s4,c4 #ahac7 to establish     
branches and provide banking services in
 underserved areas4