private deposit insurer insures deposits in a credit union which lacks federal deposit insurance and has become a member of a federal home loan bank to provide the National Credit Union Administration, upon request, the results of any examination and reports which the agency may have in its possession concerning the private deposit insurer. Procedural history H.R. 3584 was introduced into the United States House of Representatives on November 21, 2013 by Rep. Steve Stivers (R, OH-15). The bill was referred to the United States House Committee on Financial Services and the United States House Financial Services Subcommittee on Financial Institutions and Consumer Credit. The bill was scheduled to be voted on under suspension of the rules on May 6, 2014. Debate and discussion At the committee hearing, Rose Bartolomucci testified on behalf of the Credit Union National Association in favor of the bill. Bartolomucci emphasized that the bill does not guarantee membership to individual credit unions, but only the right to apply for membership. Bartolomucci argued that being able to join the Federal Home Loan Bank System would allow credit unions to better serve their members by providing them with additional liquidity. Bartolomucci also made historical arguments about why credit unions should be eligible. In the same committee hearing, Thomas N. Richards testified on behalf of the American Bankers Association (ABA) that the ABA has "concerns about privately-insured credit unions being allowed to join a Federal Home Loan Bank." According to Richards, "the issue of concern is the financial viability of the private insurer to a failure of a non-federally-insured credit union that has a significant level of secured advances from the Federal Home Loan Bank." See also List of bills in the 113th United States Congress References External links Library of Congress - Thomas H.R. 3584 beta.congress.gov H.R. 3584 GovTrack.us H.R. 3584 OpenCongress.org H.R. 3584 WashingtonWatch.com H.R. 3584 Proposed legislation of the 113th United States Congress Mortgage industry of the United States