PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 49 · Public Law · Dec 18, 2014
(This measure has not been amended since it was passed by the House on May 6, 2014. The summary of that version is repeated here.)
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.
Showing the opening paragraphs of the official summary.
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.
People & committees
Rep. Royce, Edward R. [R-CA-39] · R–CA
Legislative record
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Became Public Law No: 113-252.
Became Public Law No: 113-252.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Message on Senate action sent to the House.
Passed Senate without amendment by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S6608)
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S6608)
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3426)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H3426)
DEBATE - The House proceeded with forty minutes of debate on H.R. 3468.
Considered under suspension of the rules. (consideration: CR H3426-3428)
Mr. Royce moved to suspend the rules and pass the bill, as amended.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Dec 5, 2025. Consult Congress.gov for the current record.
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Analyze H.R.3468 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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