Top Legislation - View All
Also tagged in: Actions and defenses, Banks and banking, Business, Child pornography, Child sexual abuse, Children, Civil liberties, Consumer education, Consumers, Criminal justice, Electronic mail systems, Executive departments, Federal Communications Commission, Federal Trade Commission, Finance, Fines (Penalties), Foreign banks and banking, Government information, Government publicity, Humanities, Identification devices, Independent regulatory commissions, Injunctions, International finance, Internet, Law, Libraries, Parties to actions, Pornography, Restrictive trade practices, Right of privacy, Savings and loan associations, Sentences (Criminal procedure), Social security, Social security numbers, Technology, Telecommunication, Telephone, Web sites
Latest Action: 01/04/2007 - Read twice and referred to the Committee on Commerce, Science, and Transportation. Bill TextA bill to amend the Communications Act of 1934 to prevent the carriage of child pornography by video service providers, to protect children from online predators, and to restrict the sale or purchase of children's personal information in interstate commerce. 1/4/2007--Introduced. Protecting Children in the 21st Century Act - Amends the Communications Act of 1934 to require the Federal Communications Commission (FCC) to issue regulations requiring video services to prevent child pornography. Amends the Crime Control Act of 1990 to triple the fines on providers of electronic communication services or remote computing services who knowingly and willfully fail to report child pornography. Requires warning labels for websites depicting sexually explicit material. Deleting Online Predators Act of 2007 - Amends the Communications Act of 1934 to require schools and libraries that receive universal service support to enforce a policy that: (1) prohibits access to a commercial [...] show full description
Also tagged in: Automated teller machines, Bank accounts, Bank deposits, Bank reserves, Banks and banking, Business, Checks, Congressional reporting requirements, Credit cards, Deposit insurance, Dividends, Electronic commerce, Electronic funds transfers, Fees, Finance, Financial institutions, Financial services, Government information, Government paperwork, Housing, Interest, Internet, Law, Real estate business, Savings and loan associations, Surveys, Technology, Telecommunication, User charges
Latest Action: 01/04/2007 - Referred to the House Committee on Financial Services. Bill TextTo repeal the prohibition on the payment of interest on demand deposits, and for other purposes. 1/4/2007--Introduced. Business Checking Fairness Act of 2007 - Amends federal law to authorize interest-bearing or dividend-bearing transaction accounts for all businesses, permitting up to 24 transfers per month to another account of the owner in the same institution. Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to repeal the prohibition against the payment of interest on demand deposits. Authorizes the payment of interest on reserves by a federal reserve bank at least quarterly on balances maintained there on behalf of a depository institution. Amends the Federal Reserve Act to require the Board to survey biennially and report biennially to Congress on bank fees and certain services. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and the Riegle-Neal Interstate Banking [...] show full description
Also tagged in: Armed forces, Armed forces reserves, Authorization, Budgets, Business, Capital, Congress, Congressional reporting requirements, Data banks, Defense policy, Disabled, Employee rights, Employment of the disabled, Entrepreneurs, Executive departments, Finance, Government information, Government lending, Government paperwork, Government procurement, Government publicity, Governmental investigations, Iraq compilation, Labor, National Guard, Public contracts, Small business, Small Business Administration, Subcontractors, Surety and fidelity, Technology, Veterans, Veterans' employment, War casualties
Latest Action: 03/15/2007 - Sponsor introductory remarks on measure. (CR S3211-3212) Bill TextA bill to provide additional relief for small business owners ordered to active duty as members of reserve components of the Armed Forces, and for other purposes. 3/15/2007--Introduced. Veterans Small Business Opportunity Act of 2007 - Amends the Small Business Act to extend certain small business loan time limits with respect to a small business owned and controlled by: (1) a veteran called to active duty on or after September 11, 2001; or (2) a service-disabled veteran who became disabled due to an injury or illness incurred or aggravated during a period of active duty on or after such date. Extends such time limits by the period that the veteran was on active duty. Directs the Secretary of Defense to conduct a study for promoting positive working relations between employers and their reserve component employees. Increases: (1) certain Small Business Administration (SBA) loan limits for small business owners who are members of the National Guard or reserves;[...] show full description
Also tagged in: Administrative procedure, Bank capital, Bank loans, Bank management, Bank mergers, Business, Department of the Treasury, Deposit insurance, Disasters, Emergency management, Executive departments, Executive reorganization, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Investments, Law, Leases, National Credit Union Administration, Risk, Savings banks, Securities
Latest Action: 03/15/2007 - Referred to the House Committee on Financial Services. Bill TextTo modernize credit union net worth standards, advance credit union efforts to promote economic growth, and modify credit union regulatory standards and reduce burdens, and for other purposes. 3/15/2007--Introduced. Credit Union Regulatory Improvements Act of 2007 - Amends the Federal Credit Union Act to reduce the minimum net worth ratio requirements of credit unions. Revises the minimum risk-based net ratio for such capitalizations. Transfers from the federal banking agencies to the Federal Deposit Insurance Corporation (FDIC) the authority to adjust the net worth levels of credit unions. Instructs the National Credit Union Administration Board (Board) to design the risk-based net worth requirement to take account of material risks to insured credit unions that are taken account of by comparable standards applicable to FDIC-insured institutions. Establishes a temporary waiver of the net worth restoration plan requirement for an undercapitalized [...] show full description
Latest Action: 03/29/2007 - Referred to the Committee on Financial Services, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the commit Bill TextTo amend the Federal Credit Union Act and the Small Business Act to improve small business lending, improve cooperation between the National Credit Union Administration and the Small Business Administration, and for other purposes. 3/29/2007--Introduced. Credit Union Small Business Lending Act - Amends the Federal Credit Union Act to exclude from the meaning of "member business loan," and thereby from specified limitations on member business loans made by a credit union, certain small business loans made in cooperation with the Small Business Administration (SBA), without regard to whether any portion of such a loan is or is not SBA-guaranteed. Amends the Small Business Act to direct the SBA Administrator to implement a program to: (1) provide outreach and assistance to credit unions to increase their participation in the SBA small business loan program; (2) simplify the application process for such participation; and (3) provide a guaranty of up to 85% for [...] show full description
Also tagged in: Bank accounts, Bank deposits, Banks and banking, Consumer protection, Consumers, Debtor and creditor, Electronic data interchange, Finance, Financial statements, Fines (Penalties), Law, Saving and investment, Technology, Telecommunication
Latest Action: 05/01/2007 - Sponsor introductory remarks on measure. (CR E898-899) Bill TextTo sunset Federal laws and regulations which treat the American people like children by denying them the opportunity to make their own decision regarding control of their bank accounts and what type of information they wish to receive from their banks, and for other purposes. 5/1/2007--Introduced. Freedom to Bank Act - Terminates any provision of federal law (other than the Internal Revenue Code) that subjects a consumer to a penalty for withdrawing or transferring funds from any transaction account or any savings or time deposit. Declares that no creditor, depository institution, or credit union shall be required to provide periodic statements of account to a customer unless the customer has notified it of an election to receive such statements. Requires such entities to establish a procedure for notifying customers of their right to elect to receive statements of account and the method for implementing such election.
Also tagged in: Appellate courts, Appropriations, Archives, Armed forces, Budgets, Business, Communications, Congress, Congressional elections, Consumer Product Safety Commission, Consumer protection, Consumers, Defense policy, Department of the Treasury, Deposit insurance, District courts, District of Columbia, Election Assistance Commission, Elections, Environmental protection, Executive departments, Executive Office of the President, Federal Communications Commission, Federal Deposit Insurance Corporation, Federal Election Commission, Federal Labor Relations Authority, Federal Trade Commission, Finance, Foundations, General Services Administration, Government ethics, Government information, Income tax, Independent regulatory commissions, Industrial relations, Inspectors general, Internal Revenue Service (IRS), Labor, Law, Merit Systems Protection Board, National Archives and Records Administration, National Credit Union Administration, Office of Government Ethics, Office of Personnel Management, Office of Special Counsel, Personnel management, Postal service, Presidential elections, Presidents, Promotions, Restrictive trade practices, Securities and Exchange Commission, Securities regulation, Selective Service System, Small business, Small Business Administration, Social services, Supreme Court, Tax courts, Taxation, Telecommunication, United States Postal Service
Latest Action: 07/13/2007 - Committee on Appropriations. Reported by Senator Durbin with an amendment in the nature of a substitute. With written report No. 110-129. Bill TextMaking appropriations for financial services and general government for the fiscal year ending September 30, 2008, and for other purposes. 7/13/2007--Reported to Senate amended. (There are 3 other summaries) Financial Services and General Government Appropriations Act, 2008 - Title I: Department of the Treasury - Department of the Treasury Appropriations Act, 2008 - Makes appropriations for FY2008 to the Department of the Treasury for: (1) departmental offices; (2) department-wide systems and capital investments programs; (3) the Office of Inspector General; (4) the Treasury Inspector General for Tax Administration; (5) the Air Transportation Stabilization Program Account; (6) the Financial Crimes Enforcement Network; (7) the Financial Management Service; (8) the Alcohol and Tobacco Tax and Trade Bureau; (9) the U.S. Mint for the U.S. Mint Public Enterprise Fund; (10) the Bureau of the Public Debt; (11) the Community Development Financial Institutions [...] show full description
Latest Action: 07/19/2007 - Referred to the House Committee on Financial Services. Bill TextTo clarify congressional intent with respect to the provision of affordable financial services by all types of Federal credit unions in underserved areas, and for other purposes. 7/19/2007--Introduced. Affordable Financial Services Enhancement Act - Amends the Federal Credit Union Act to revise the credit union categories of field of membership that may be included in an underserved investment area. Repeals the limitation of credit union categories in such areas to the multiple common-bond credit union membership category. Extends to single common-bond credit unions and community credit unions the National Credit Union Board's authority to allow the membership of a credit union in such an area to include any person or organization within the local community, neighborhood, or rural district.
Latest Action: 08/03/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to require the use of Federally insured intermediaries for nonrecognition treatment on like-kind exchanges involving cash to be used to acquire the replacement property. 8/3/2007--Introduced. 1031 Regulation Act of 2007 - Amends the Internal Revenue Code to require the use of a federally insured depository institution or credit union to hold cash to be used in a tax-free exchange of properties to acquire like-kind property.
Also tagged in: Administrative procedure, Bank capital, Bank loans, Bank mergers, Business, Churches, Executive departments, Finance, Government information, Government paperwork, Investments, Law, National Credit Union Administration, Nonprofit organizations, Religion, Securities, Small business, Social services
Latest Action: 03/03/2008 - Referred to the House Committee on Financial Services. Bill TextTo advance credit union efforts to promote economic growth, modify credit union regulatory standards and reduce burdens, and for other purposes. 3/3/2008--Introduced. Credit Union Regulatory Relief Act of 2008 - Amends the Federal Credit Union Act to: (1) permit a credit union to invest in securities for its own account, subject to certain percentage limitations; and (2) increase the investment and lending limit in credit union service organizations from 1% to 3% of a credit union's total paid and unimpaired capital and surplus. Excludes credit union loans to nonprofit religious organizations from limitations placed upon member business loans. Redefines member business loan to increase specified extensions of credit.Authorizes the National Credit Union Administration Board (Board) to establish longer loan maturity dates.Directs the Board to prescribe criteria for continued membership of certain member groups in the case of certain credit union conversions [...] show full description
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Latest Legislation - View All
Also tagged in: Administrative procedure, Automated teller machines, Bank accounts, Bank loans, Bank management, Banks and banking, Business, Checks, Churches, Civil liberties, Community development banking, Congress, Congressional reporting requirements, Consumer education, Consumers, Cost accounting, Depressed areas, Economic policy, Electronic funds transfers, Executive departments, Fees, Finance, Government information, Government paperwork, Interest, Interest rates, Investments, Law, Leases, Mortgages, Motor vehicles, National Credit Union Administration, Nonprofit organizations, NOW accounts, Religion, Right of privacy, Savings and loan associations, Securities, Small business, Small business investment companies, Social services, Surveys, Transportation
Latest Action: 06/25/2008 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo advance credit union efforts to promote economic growth, modify credit union regulatory standards and reduce burdens, to provide regulatory relief and improve productivity for insured depository institutions, and for other purposes. 6/19/2008--Introduced. Credit Union, Bank, and Thrift Regulatory Relief Act of 2008 - Amends the Federal Credit Union Act to: (1) permit a credit union to invest in securities for its own account, subject to certain percentage limitations; and (2) increase the investment and lending limit in credit union service organizations from 1% to 3% of a credit union's total paid and unimpaired capital and surplus.Excludes credit union loans to nonprofit religious organizations from limitations placed upon member business loans.Redefines member business loan to increase specified extensions of credit. Authorizes the National Credit Union Administration Board to establish longer loan maturity dates. Directs the Board to prescribe [...] show full description
Also tagged in: Administrative procedure, Bank capital, Bank loans, Bank management, Bank mergers, Business, Department of the Treasury, Deposit insurance, Disasters, Emergency management, Executive departments, Executive reorganization, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Investments, Law, Leases, National Credit Union Administration, Risk, Savings banks, Securities
Latest Action: 05/01/2008 - Sponsor introductory remarks on measure. (CR S3708-3710) Bill TextA bill to modernize credit union net worth standards, advance credit union efforts to promote economic growth, and modify credit union regularity standards and reduce burdens, and for other purposes. 5/1/2008--Introduced. Credit Union Regulatory Improvements Act of 2008 - Amends the Federal Credit Union Act to reduce the minimum net worth ratio requirements of credit unions. Revises the minimum risk-based net ratio for such capitalizations.Transfers from the federal banking agencies to the Federal Deposit Insurance Corporation (FDIC) the authority to adjust the net worth levels of credit unions.Instructs the National Credit Union Administration Board (Board) to design the risk-based net worth requirement to take account of material risks to insured credit unions that are taken account of by comparable standards applicable to FDIC-insured institutions.Establishes a temporary waiver of the net worth restoration plan requirement for an undercapitalized [...] show full description
Latest Action: 06/10/2008 - Considered under suspension of the rules. (consideration: CR H5166-5167) Bill TextRecognizing the 100 year anniversary of the establishment of St. Mary's Cooperative Credit Association, the "Bank of the People", and the birth of the American credit union. 6/10/2008--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Recognizes the 100th anniversary of the founding of St. Mary's Cooperative Credit Association (Manchester, New Hampshire), the "Bank of the People," and the birth of the American credit union.
Also tagged in: Administrative procedure, Bank capital, Bank loans, Bank mergers, Business, Churches, Executive departments, Finance, Government information, Government paperwork, Investments, Law, National Credit Union Administration, Nonprofit organizations, Religion, Securities, Small business, Social services
Latest Action: 03/03/2008 - Referred to the House Committee on Financial Services. Bill TextTo advance credit union efforts to promote economic growth, modify credit union regulatory standards and reduce burdens, and for other purposes. 3/3/2008--Introduced. Credit Union Regulatory Relief Act of 2008 - Amends the Federal Credit Union Act to: (1) permit a credit union to invest in securities for its own account, subject to certain percentage limitations; and (2) increase the investment and lending limit in credit union service organizations from 1% to 3% of a credit union's total paid and unimpaired capital and surplus. Excludes credit union loans to nonprofit religious organizations from limitations placed upon member business loans. Redefines member business loan to increase specified extensions of credit.Authorizes the National Credit Union Administration Board (Board) to establish longer loan maturity dates.Directs the Board to prescribe criteria for continued membership of certain member groups in the case of certain credit union conversions [...] show full description
Also tagged in: Administrative procedure, Business, Commercial arbitration, Consumer credit, Consumer protection, Consumers, Criminal justice, Damages, Department of Justice, Executive departments, Executive reorganization, Federal Bureau of Investigation (FBI), Federal Deposit Insurance Corporation, Federal law enforcement officers, Federal reserve system, Fees, Finance, Foreclosure, Fraud, Government corporations, Government employees, Housing, Insurance premiums, Law, Liability (Law), Loan defaults, Mortgage guaranty insurance, Mortgage interest rates, Mortgages, National Credit Union Administration, Property insurance, Property tax, Prosecution, Public prosecutors, Real estate appraisal, Restrictive trade practices, Settlement costs, Taxation
Latest Action: 12/12/2007 - Sponsor introductory remarks on measure. (CR S15235-15236) Bill TextA bill to amend the Truth in Lending Act to provide protection to consumers with respect to certain high-cost loans, and for other purposes. 12/12/2007--Introduced. Home Ownership Preservation and Protection Act of 2007 - Amends the Truth in Lending Act to redefine high-cost mortgages and attendant lending practices. Sets forth a new formula for points and fees for open-end loans, and provides for bona fide discount points. Prohibits: (1) prepayment penalties; (2) balloon payments; (3) yield spread premiums; (4) acceleration or debt; (5) evasions, structuring of transactions, and reciprocal arrangements; and (6) modification and deferral fees. Prohibits creditors from financing, in connection with a high-cost mortgage, any prepayment fee or penalty, or any points or fees. Prohibits an originator from making or arranging a high-cost mortgage loan that involves a refinancing of a prior existing home mortgage loan unless the new loan will provide a net tangible [...] show full description
Latest Action: 10/19/2007 - Referred to the Subcommittee on Financial Institutions and Consumer Credit. Bill TextSupporting the goals and ideals of Federal Credit Union Month and recognizing the importance of Federal credit unions to the economy, and their critical mission in serving those of modest means. 9/24/2007--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Supports the goals and ideals of Federal Credit Union Month. Recognizes the importance of federal credit unions to the economy, and their critical mission in serving those of modest means.
Latest Action: 08/03/2007 - Referred to the House Committee on Ways and Means. Bill TextTo amend the Internal Revenue Code of 1986 to require the use of Federally insured intermediaries for nonrecognition treatment on like-kind exchanges involving cash to be used to acquire the replacement property. 8/3/2007--Introduced. 1031 Regulation Act of 2007 - Amends the Internal Revenue Code to require the use of a federally insured depository institution or credit union to hold cash to be used in a tax-free exchange of properties to acquire like-kind property.
Latest Action: 07/19/2007 - Referred to the House Committee on Financial Services. Bill TextTo clarify congressional intent with respect to the provision of affordable financial services by all types of Federal credit unions in underserved areas, and for other purposes. 7/19/2007--Introduced. Affordable Financial Services Enhancement Act - Amends the Federal Credit Union Act to revise the credit union categories of field of membership that may be included in an underserved investment area. Repeals the limitation of credit union categories in such areas to the multiple common-bond credit union membership category. Extends to single common-bond credit unions and community credit unions the National Credit Union Board's authority to allow the membership of a credit union in such an area to include any person or organization within the local community, neighborhood, or rural district.
Also tagged in: Appellate courts, Appropriations, Archives, Armed forces, Budgets, Business, Communications, Congress, Congressional elections, Consumer Product Safety Commission, Consumer protection, Consumers, Defense policy, Department of the Treasury, Deposit insurance, District courts, District of Columbia, Election Assistance Commission, Elections, Environmental protection, Executive departments, Executive Office of the President, Federal Communications Commission, Federal Deposit Insurance Corporation, Federal Election Commission, Federal Labor Relations Authority, Federal Trade Commission, Finance, Foundations, General Services Administration, Government ethics, Government information, Income tax, Independent regulatory commissions, Industrial relations, Inspectors general, Internal Revenue Service (IRS), Labor, Law, Merit Systems Protection Board, National Archives and Records Administration, National Credit Union Administration, Office of Government Ethics, Office of Personnel Management, Office of Special Counsel, Personnel management, Postal service, Presidential elections, Presidents, Promotions, Restrictive trade practices, Securities and Exchange Commission, Securities regulation, Selective Service System, Small business, Small Business Administration, Social services, Supreme Court, Tax courts, Taxation, Telecommunication, United States Postal Service
Latest Action: 07/13/2007 - Committee on Appropriations. Reported by Senator Durbin with an amendment in the nature of a substitute. With written report No. 110-129. Bill TextMaking appropriations for financial services and general government for the fiscal year ending September 30, 2008, and for other purposes. 7/13/2007--Reported to Senate amended. (There are 3 other summaries) Financial Services and General Government Appropriations Act, 2008 - Title I: Department of the Treasury - Department of the Treasury Appropriations Act, 2008 - Makes appropriations for FY2008 to the Department of the Treasury for: (1) departmental offices; (2) department-wide systems and capital investments programs; (3) the Office of Inspector General; (4) the Treasury Inspector General for Tax Administration; (5) the Air Transportation Stabilization Program Account; (6) the Financial Crimes Enforcement Network; (7) the Financial Management Service; (8) the Alcohol and Tobacco Tax and Trade Bureau; (9) the U.S. Mint for the U.S. Mint Public Enterprise Fund; (10) the Bureau of the Public Debt; (11) the Community Development Financial Institutions [...] show full description
Also tagged in: Bank accounts, Bank deposits, Banks and banking, Consumer protection, Consumers, Debtor and creditor, Electronic data interchange, Finance, Financial statements, Fines (Penalties), Law, Saving and investment, Technology, Telecommunication
Latest Action: 05/01/2007 - Sponsor introductory remarks on measure. (CR E898-899) Bill TextTo sunset Federal laws and regulations which treat the American people like children by denying them the opportunity to make their own decision regarding control of their bank accounts and what type of information they wish to receive from their banks, and for other purposes. 5/1/2007--Introduced. Freedom to Bank Act - Terminates any provision of federal law (other than the Internal Revenue Code) that subjects a consumer to a penalty for withdrawing or transferring funds from any transaction account or any savings or time deposit. Declares that no creditor, depository institution, or credit union shall be required to provide periodic statements of account to a customer unless the customer has notified it of an election to receive such statements. Requires such entities to establish a procedure for notifying customers of their right to elect to receive statements of account and the method for implementing such election.
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