Expands Federal credit unions' investment authority to include asset-backed securities and corporate debt.

The Credit Union Investment Authority Act amends the Federal Credit Union Act to expand the investment options for Federal credit unions. It allows these institutions to invest in asset-backed securities, defined under the Securities Exchange Act of 1934, and in corporate debt. The National Credit Union Administration Board must issue regulations within a year of the Act's enactment, detailing requirements for these investments.

Expands Federal credit unions' investment authority to include asset-backed securities and corporate debt.

The Credit Union Investment Authority Act amends the Federal Credit Union Act to expand the investment options for Federal credit unions. It allows these institutions to invest in asset-backed securities, defined under the Securities Exchange Act of 1934, and in corporate debt. The National Credit Union Administration Board must issue regulations within a year of the Act's enactment, detailing requirements for these investments.