To amend the Bank Service Company Act to cover credit unions to the same extent as such Act covers banks and savings associations, to provide the Director of the Federal Housing Finance Agency with the authority to regulate the provision of services provided to the Government-sponsored enterprises and Federal Home Loan Banks, and for other purposes.
About This Bill
Committee
Latest Action · November 12, 2020
Referred to the House Committee on Financial Services.
Strengthening Cybersecurity for the Financial Sector Act of 2020
This bill requires a Federal Home Loan Bank or government-sponsored enterprise to notify the Federal Housing Finance Agency of any services performed off its premises. The performance of these services is subject to regulation and examination. The bill also applies to credit unions existing limitations regarding investments by depository institutions in a bank service company.
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