Fines (Penalties) Legislation - Federal Government

A bill making supplemental appropriations for job creation and preservation, infrastructure investment, and economic and energy assistance for the fiscal year ending September 30, 2009, and for other purposes. 11/17/2008--Introduced. Economic Recovery Act of 2008 - Makes supplemental appropriations for FY2009 for infrastructure, energy, and economic recovery for: (1) the Department of Agriculture; (2) the Department of Commerce; (3) the Department of Justice (DOJ); (4) the National Aeronautics and Space Administration (NASA); (5) the Legal Services Corporation; (6) the Department of Defense (DOD) - Civil for the Department of the Army Corps of Engineer; (7) the Department of Energy (DOE); (8) the Department of the Treasury, including the Office of Inspector General; (9) the Commodity Futures Trading Commission (CFTC); (10) the General Services Administration (GSA); (11) the Small Business Administration (SBA); (12) the Department of Homeland Security (DHS); (13) the Department [...]

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A bill to combat predatory lending practices and to provide access to capital to those living in low-income and traditionally underserved communities, and for other purposes. 9/26/2008--Introduced. Fostering American Independence from Regressive and Abusive Credit Transactions Act of 2008 or the FAIR Act - Amends the Truth in Lending Act to prescribe a maximum annual percentage rate (APR) of 36% for any extension of credit to a consumer. Prohibits a creditor from: (1) cashing or advancing money for a post-dated check in exchange for a fee or other payment of interest, other than as otherwise authorized for the payment of a preexisting debt; or (2) holding a check, requiring electronic access to an account at a financial institution, or holding title to personal property as collateral for a loan or other extension of credit (except in connection with the purchase or rental of such personal property). Requires a creditor to provide to the consumer in writing at [...]

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A bill to amend the Commodity Exchange Act to require the Commodity Futures Trading Commission to develop and impose aggregate position limits on certain large over-the-counter transactions and classes of large over-the-counter transactions. 10/1/2008--Introduced. Over-the-Counter Swaps Speculation Limit Act - Amends the Commodity Exchange Act to direct the Commodity Futures Trading Commission (CFTC) to impose aggregate position limits on positions held on registered entities, foreign boards of trade, and each large over-the-counter transaction or class of large over-the-counter transactions that it determines to be appropriate in protecting the price discovery function of contracts under its jurisdiction.Sets forth requirements for development and imposition of aggregate position limits. Authorizes the CFTC to exempt a large over-the-counter transaction or class of large over-the-counter transactions from any aggregate position limit it has developed and imposed [...]

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A bill to amend the Internal Revenue Code of 1986 to provide for the disclosure of schedule M-3 to the Securities and Exchange Commission, to provide for the public disclosure of certain information on such schedule, to provide penalties for failure to file such schedule or inaccurately reporting information on such schedule, and for other purposes. 10/1/2008--Introduced. Corporate Transparency Act of 2007 [sic] - Amends the Internal Revenue Code to require the Secretary of the Treasury to: (1) disclose to the Securities and Exchange Commission (SEC) certain tax return information of public entities whose securities are required to be registered under the Securities and Exchange Act of 1934 relating to the reconciliation of financial income statements with income tax returns (i.e., Schedule M-3); and (2) post on the Internet certain identifying and financial information for such entities. Imposes penalties on entities that fail to file required information. Requires [...]

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A bill to create a new Consumer Credit Safety Commission, to provide individual consumers of credit with better information and stronger protections, and to provide sellers of consumer credit with more regulatory certainty. 9/26/2008--Introduced. Consumer Credit Safety Commission Act of 2008 - Establishes the Consumer Credit Safety Commission to promulgate consumer credit safety rules that: (1) ban abusive, fraudulent, unfair, deceptive, predatory, anticompetitive, or otherwise anti-consumer practices or product features for creditors; (2) place restrictions on consumer credit practices or product features to reduce the likelihood that they may be provided in a manner inconsistent with this Act; and (3) establish requirements for clear and adequate information appropriate to advance the objectives of this Act. Directs the Commission to: (1) establish and maintain a best practices guide for providers of consumer credit; (2) conduct, or award grants or contracts for,[...]

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A bill to enhance drug trafficking interdiction by creating a Federal felony relating to operating or embarking in a submersible or semi-submersible vessel without nationality and on an international voyage. 9/18/2008--Introduced. Drug Trafficking Vessel Interdiction Act of 2008 - Amends the federal criminal code to impose a fine and/or prison term of up to 15 years for knowingly operating or embarking in any submersible or semisubmersible vessel that is without nationality and that is navigating in, or has navigated into, through, or from, waters beyond the outer limit of the territorial sea of a single country or a lateral limit of that country's territorial sea with an adjacent country, with the intent to evade detection. Grants extraterritorial federal jurisdiction over violations of this Act.Makes it an affirmative defense to a prosecution under this Act that a vessel operated at the time of a violation was: (1) a vessel of the Untied States or lawfully registered [...]

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To create a new Consumer Credit Safety Commission, to provide individual consumers of credit with better information and stronger protections, and to provide sellers of consumer credit with more regulatory certainty. 10/3/2008--Introduced. Consumer Credit Safety Commission Act of 2008 - Establishes the Consumer Credit Safety Commission to promulgate consumer credit safety rules that: (1) ban abusive, fraudulent, unfair, deceptive, predatory, anticompetitive, or otherwise anti-consumer practices or product features for creditors; (2) place restrictions on consumer credit practices or product features to reduce the likelihood that they may be provided in a manner inconsistent with this Act; and (3) establish requirements for clear and adequate information appropriate to advance the objectives of this Act. Directs the Commission to: (1) establish and maintain a best practices guide for providers of consumer credit; (2) conduct, or award grants or contracts for, continuing [...]

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A bill to provide for financial market investigation, oversight, and reform. 9/29/2008--Introduced. Financial Market Investigation, Oversight, and Reform Act of 2008 - Establishes the Commission on Financial Regulatory Reform to review the nation's existing financial regulatory structure and its contribution to the stability or instability of financial markets. Requires the Commission to review: (1) bank holding companies, financial holding companies, commercial banks, investment banks, thrifts, credit unions, and industrial loan companies; (2) payment and settlement systems; (3) hedge funds, private equity funds, and markets for alternative investments; (4) special purpose vehicles and off-balance sheet financing for financial companies; (5) securitization of mortgages and other assets; (6) exchange-based, electronic, and over-the-counter markets for financial derivative products; (7) the mortgage finance industry, including mortgage brokers and mortgage lending institutions;[...]

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