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Also tagged in: Administrative procedure, Bank holding companies, Business, Corporate finance, Executive departments, Federal Deposit Insurance Corporation, Finance, Financial statements, Government corporations, Government information, Government paperwork, Law, Subsidiary corporations
Latest Action: 05/22/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo amend the Federal Deposit Insurance Act to establish industrial bank holding company regulation, and for other purposes. 5/21/2007--Passed House amended. (There are 2 other summaries) Industrial Bank Holding Company Act of 2007 - Amends the Federal Deposit Insurance Act (FDIA) to apply the bank share or asset acquisition requirements of the Bank Holding Company Act of 1956 to any company that is or would become an industrial bank holding company. States that an application filed to acquire control of an industrial bank shall be treated as an application for a deposit facility. Subjects an industrial bank to Federal Deposit Insurance Corporation (FDIC) requirements regarding registration, reporting, and bank examinations. Authorizes the FDIC to accept reports that an industrial bank holding company or its subsidiary has provided to another federal or state supervisor or to any appropriate self-regulatory organization. Prohibits [...] show full description
Also tagged in: Administrative procedure, Affiliated corporations, Automobile insurance, Bank accounts, Bank holding companies, Bank loans, Bank mergers, Bank records, Banks and banking, Brokers, Business, Business insurance, Business records, Casualty insurance, Civil rights, Community development banking, Consent decrees, Consumer credit, Consumers, Data banks, Department of Housing and Urban Development, Department of the Treasury, Depressed areas, Discrimination in consumer credit, Economic policy, Executive departments, Fair housing, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Financial institutions, Financial services, Fines (Penalties), Government corporations, Government information, Government paperwork, Government publicity, Housing, Information disclosure (Securities law), Injunctions, Insurance, Insurance agents, Insurance companies, Insurance premiums, Investment advisers, Investments, Law, Liability (Law), Minorities, Mortgage banks, Mortgage guaranty insurance, Mortgages, Mutual funds, Nonbank banks, Property insurance, Public meetings, Racial discrimination, Rural affairs, Securities industry, Securities regulation, Small business, Technology, Usury
Latest Action: 03/01/2007 - Referred to the House Committee on Financial Services. Bill TextTo enhance the availability of capital and credit for all citizens and communities, to ensure that community reinvestment keeps pace as banks, securities firms, and other financial service providers become affiliates as a result of the enactment of the Gramm-Leach-Bliley Act, and for other purposes. 3/1/2007--Introduced. Community Reinvestment Modernization Act of 2007 - Repeals specified revisions to regulations governing the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Director of the Office of Thrift Supervision. Reinstates banking agency regulations in effect before the publication of such revisions. Amends the Bank Holding Company Act of 1956 (BHCA) to subject to the Community Reinvestment Act of 1977 (CRA) nonbank affiliates of bank holding companies that engage in lending or offering banking products or services. Amends the CRA to require a rating reduction [...] show full description
Also tagged in: Bank capital, Bank holding companies, Bank management, Bank mergers, Bank records, Business, Deposit insurance, Finance, Foreign banks and banking, International finance, Nonbank banks, Subsidiary corporations
Latest Action: 05/10/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to amend the Federal Deposit Insurance Act to establish industrial bank holding company regulation, and for other purposes. 5/10/2007--Introduced. Industrial Bank Holding Company Act of 2007 - Amends the Federal Deposit Insurance Act (FDIA) to apply the bank share or asset acquisition requirements of the Bank Holding Company Act of 1956 to any company that is or would become an industrial bank holding company.Subjects an industrial bank to Federal Deposit Insurance Corporation (FDIC) requirements regarding registration, reporting, and bank examinations. Prohibits the FDIC from imposing capital or capital adequacy requirements on functionally regulated affiliates of any depository institution controlled by industrial bank holding companies meeting certain criteria. Requires a federal supervisory agency of an industrial bank holding company to forego examination of any depository institution subsidiary of the holding company. Authorizes the [...] show full description
Also tagged in: Actions and defenses, Administrative fees, Administrative procedure, Advice and consent of the Senate, Affordable housing, Aged, Apartment houses, Auditing, Bank capital, Bank loans, Bank mergers, Bank reserves, Bankruptcy, Budgets, Business, Charitable contributions, Children, Community development banking, Conflict of interests, Congress, Congressional investigations, Congressional reporting requirements, Contracts, Corporate governance, Corporate philanthropy, Corporation directors, Criminal justice, Damages, Day care, Department of Housing and Urban Development, Depressed areas, Economic policy, Employee rights, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Environmental protection, Executive compensation, Executive departments, Executive reorganization, Federal advisory bodies, Federal aid to housing, Federal employees, Federal home loan banks, Federal Housing Finance Board, Finance, Financial statements, Fines (Penalties), Fraud, Government corporations, Government employees, Government information, Government paperwork, Government publicity, Government trust funds, Home ownership, Housing, Housing finance, Housing subsidies, Income tax, Information disclosure (Securities law), Injunctions, Interest rates, Judicial review, Labor, Law, Leases, Liability (Law), Liens, Limitation of actions, Low-income housing, Medical care, Medicine, Minorities, Minorities in government, Minority business enterprises, Minority employment, Money laundering, Mortgage banks, Mortgages, Nonprofit organizations, Nursing homes, Ombudsman, Politics and government, Presidential appointments, Presidents, Price indexes, Rent, Rental housing, Rural affairs, Rural housing, Secondary mortgage market, Securities regulation, Single family housing, Social services, Standards, Stocks, Sunset legislation, Tax credits, Taxation, Transfer of employees, Welfare, Women, Women in business, Women in government, Women's employment
Latest Action: 05/24/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo reform the regulation of certain housing-related Government-sponsored enterprises, and for other purposes. 5/22/2007--Passed House amended. (There are 2 other summaries) Federal Housing Finance Reform Act of 2007 - Title I: Reform of Regulation of Enterprises and Federal Home Loan Banks - Subtitle A: Improvement of Safety and Soundness - (Sec. 101) Amends the Housing and Community Development Act of 1992 (Act) to establish, in place of the present Office of Federal Housing Enterprise Oversight, a Federal Housing Finance Agency (FHFA), headed by a Director (Director) possessing general supervisory and regulatory authority over the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the federal home loan banks ("the regulated entities"). (Sec. 102) Requires the Director to establish standards for each regulated entity, especially standards relating to: (1) [...] show full description
Also tagged in: Bank loans, Capital investments, Community development banking, Congregate housing, Finance, Home ownership, Housing, Housing finance, Interest rates, Mortgages, Soldiers' homes, Veterans, Veterans' benefits
Latest Action: 04/19/2007 - Referred to the House Committee on Financial Services. Bill TextTo amend the Community Reinvestment Act of 1977 to allow community reinvestment credit for investments and other financial support to enable veterans to purchase residential homes or to assist organizations with the establishment of housing opportunities and assisted living facilities for veterans. 4/19/2007--Introduced. A Home for the Brave Act - Amends the Community Reinvestment Act of 1977 to require the appropriate federal financial supervisory agency, when assessing the record of a financial institution, to take into account capital investments, low interest loans, loan participation, technical assistance, and grants by the institution to support or enable: (1) any veteran to purchase a home for use as the principal residence of the veteran; and (2) any entity that is establishing housing opportunities or assisted living facilities for veterans to carry out such activities.
Also tagged in: Actions and defenses, Administrative remedies, Affiliated corporations, Bank deposits, Banks and banking, Business, Collection of accounts, Congressional reporting requirements, Consumer complaints, Consumer credit, Consumer protection, Consumers, Damages, Department of the Treasury, Executive departments, Federal preemption, Federal-state relations, Finance, Foreclosure, Fraud, Government information, Government paperwork, Government publicity, Government statistics, Governmental investigations, Housing, Law, Mortgage banks, Mortgages, Restrictive trade practices, Savings and loan associations, State and local government, State laws, Subsidiary corporations
Latest Action: 06/07/2007 - Referred to the Subcommittee on Financial Institutions and Consumer Credit. Bill TextTo clarify the applicability of State law to national banks and Federal savings associations, and for other purposes. 4/23/2007--Introduced. Preservation of Federalism in Banking Act - Amends the Revised Statutes of the United States and the Home Owners' Loan Act to declare applicable to either a national bank or federal savings association any consumer protection in state consumer law of general application (including unfair or deceptive acts or practices, consumer fraud law and repossession, foreclosure, and collection). Declares that when a national bank or federal savings association avails itself of state law for its benefit, all related consumer protections in such state law shall apply. Declares applicable to a national bank or federal savings association: (1) state banking or thrift laws enacted pursuant to federal law; and (2) state laws providing greater protection in high cost mortgage loans (predatory mortgage loans). Permits the Comptroller [...] show full description
Also tagged in: Administrative procedure, Community development banking, Department of the Treasury, Executive departments, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Financial planning, Financial services, Government corporations, Law, National Credit Union Administration, Personal budgets
Latest Action: 07/17/2007 - Referred to the Subcommittee on Financial Institutions and Consumer Credit. Bill TextTo amend the Community Reinvestment Act of 1977 to allow the direct support by a financial institution of a qualified community-based financial literacy program provided to consumers and borrowers to be taken into account in assessing the institution's record of meeting the credit needs of its entire community, and for other purposes. 6/22/2007--Introduced. National Financial Literacy Act of 2007 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy [...] show full description
Also tagged in: Advice and consent of the Senate, Afghanistan, Air defenses, Air piracy, Airline passenger traffic, Alliances, Appropriations, Arab-Israeli conflict, Armed forces, Arms control, Arms control agreements, Arms control negotiations, Arms control verification, Arms sales, Aviation safety, Biological warfare, Bombings, Border patrols, Boundaries, Budgets, Business, Central Intelligence Agency, Charities, Chemical warfare, Civil liberties, Communications, Computer crimes, Computer security measures, Confidential funding (Federal budgets), Congress, Congress and foreign policy, Congress and military policy, Congressional committee chairmen, Congressional committee membership, Congressional committees (House), Congressional committees (Senate), Congressional investigations, Congressional oversight, Congressional reorganization, Congressional reporting requirements, Cost effectiveness, Counterfeiting, Counterterrorism, Criminal justice, Cultural relations, Data banks, Defense policy, Department of Defense, Department of Homeland Security, Department of Justice, Department of State, Detention of persons, Diplomacy, Director of National Intelligence, Economic assistance, Economic development, Economic policy, Education, Educational exchanges, Elementary and secondary education, Emergency communication systems, Emergency management, Emergency medicine, Employee training, Energy, Energy research, English language, Environmental monitoring, Environmental protection, Environmental technology, Equipment and supplies, Exchange of persons programs, Executive departments, Executive Office of the President, Executive reorganization, Explosives, Export controls, Extremist movements in politics, Federal advisory bodies, Federal aid to Indians, Federal aid to law enforcement, Federal Bureau of Investigation (FBI), Federal law enforcement officers, Federal preemption, Federal-Indian relations, Federal-local relations, Federal-state relations, Finance, Fingerprints, Fire departments, Fire fighters, Fire prevention, Fissionable materials, Foreign aid, Foreign policy, Foreign service, Former Soviet states, Gifts, Government employees, Government information, Government paperwork, Government publicity, Grants-in-aid, Hazardous substances, Higher education, House Homeland Security, House Intelligence, Human rights, Humanities, Identification devices, Identification of criminals, Immigration, Information technology, Infrastructure, Infrastructure (Economics), Intelligence activities, Intelligence officers, Intelligence services, International affairs, International broadcasting, International cooperation, International finance, Islamic countries, Islamic fundamentalism, Job training, Law, Leadership, Liability (Law), Libraries, Medical care, Medical research, Medicine, Middle East and North Africa, Military readiness, Military strategy, Military technology, Minorities, Missile warheads, Money laundering, National security, Natural resources, Nuclear fuels, Nuclear nonproliferation, Nuclear security measures, Nuclear terrorism, Nuclear weapons, Pakistan, Paramedical personnel, Passports, Peace negotiations, Performance measurement, Planning, Plutonium, Police, Police communication systems, Police training, Politics and government, President and foreign policy, Presidential appointments, Presidents, Prisoners of war, Prisoners' rights, Products liability, Public-private partnerships, Radio frequency allocation, Religion, Religious education, Rescue work, Research and development, Restoration ecology, Right of privacy, Risk, Rural affairs, Russia, Saudi Arabia, Scholarships, Science policy, Scientists, Security clearances, Security measures, Senate Appropriations, Senate Armed Services, Senate Intelligence, Senate rules and procedure, September 11, 2001, Social security, Social security numbers, Social services, South Asia, Standards, State and local government, State laws, State-local relations, Subpoena, Tactical nuclear weapons, Technology, Technology transfer, Telecommunication, Terrorism, Terrorists, Trade, Transportation, Transportation safety, Travel, United Nations, Urban affairs, Urban areas, Volunteer workers, Weapons of mass destruction, Weapons systems, Whistle blowing, Women, Women's education
Latest Action: 01/17/2007 - Read twice and referred to the Committee on Foreign Relations. Bill TextA bill to ensure the implementation of the recommendations of the National Commission on Terrorist Attacks Upon the United States. 1/17/2007--Introduced. Ensuring Implementation of the 9/11 Commission Report Act - Homeland Emergency Response Operations Act or the HERO Act - Amends the Communications Act of 1934 to require the Federal Communications Commission (FCC) to complete assignment of the electromagnetic spectrum for public safety services to permit operation by December 31, 2007. Requires reports respecting: (1) a unified incident command system; (2) a national critical infrastructure risk and vulnerabilities assessment; and (3) private sector preparedness. Faster and Smarter Funding for First Responders Act of 2005 - Amends the Homeland Security Act of 2002 to establish a Department of Homeland Security (DHS) grant program to assist state and local governments in achieving essential capabilities for terrorism preparedness. Directs the Secretary of Homeland [...] show full description
Also tagged in: Alien property, Arab countries, Branch banking, Claims, Compensation for victims of crime, Counterterrorism, Criminal justice, Damages, Expropriation, Finance, Foreign banks and banking, Foreign policy, Fund raising, Government information, Government paperwork, International affairs, International banking, International finance, Law, Licenses, Middle East and North Africa, Public records, Terrorism, Victims of terrorism
Latest Action: 07/10/2007 - Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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 commi Bill TextTo require the Secretary of the Treasury to take certain actions with regard to the Arab Bank, and for other purposes. 7/10/2007--Introduced. Arab Bank Accountability Act - Directs the Secretary of the Treasury to release certain documents and information relating to the Arab Bank (other than those which would impede any federal criminal or civil investigation of the Bank). Directs the President to block certain Bank assets within the United States which shall be made available for payment of any terrorism-related judgment against the Bank. States that after any such judgment becomes final the Board of Directors of the Federal Reserve System and the Comptroller of the Currency shall act to terminate any Bank branch or agency in the United States and to prohibit the Bank from maintaining any interest in any commercial lending company within the United States.
Also tagged in: Administrative procedure, Bank accounts, Budgets, Congressional investigations, Congressional reporting requirements, Consumer credit, Consumer education, Consumer protection, Consumers, Counseling, Criminal investigation, Criminal justice, Debtor and creditor, Department of Housing and Urban Development, Department of the Treasury, Executive departments, Executive reorganization, Federal aid to housing, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Foreclosure, Fraud, Government corporations, Governmental investigations, Home ownership, Housing, Housing finance, Insurance premiums, Law, Licenses, Loan defaults, Mortgage banks, Mortgages, National Credit Union Administration, Nonprofit organizations, Property insurance, Property tax, Prosecution, Real estate appraisal, Rental housing, Settlement costs, Social services, Taxation
Latest Action: 07/12/2007 - Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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 committ Bill TextTo amend the Truth in Lending Act to provide for the establishment of fair mortgage practices, generally, and for subprime mortgages in particular, to provide for a national system for licensing or registering residential mortgage loan originators, and for other purposes. 7/12/2007--Introduced. Fair Mortgage Practices Act of 2007 - Prohibits any person, with certain exceptions, from engaging in the business of loan origination without first obtaining and maintaining a registration or a state license as a loan originator. Imposes on the federal banking agencies the sole responsibility for developing a system of registration for loan originators. Directs the Secretary of Housing and Urban Development (HUD) to establish a system for: (1) licensed loan originators; and (2) state-licensed mortgage originators. Amends the Truth in Lending Act to set forth: (1) disclosure requirements for consumer credit plans secured by the consumer's principal dwelling; and [...] show full description
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Latest Legislation - View All
Also tagged in: American investments, China, Communications, Conferences, East Asia, Finance, Financial institutions, Financial services, Foreign banks and banking, Foreign investments, Foreign policy, Free trade, International banking, International finance, Life insurance, Nontariff trade barriers, Reciprocity, Securities, Trade, Trade agreements, Trade negotiations
Latest Action: 09/05/2007 - Considered as unfinished business. (consideration: CR H10111) Bill TextCalling on the Government of the People's Republic of China to remove barriers to United States financial services firms doing business in China. 9/5/2007--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.) Declares the sense of the House of Representatives that: (1) the government of the People's Republic of China should immediately implement all of its World Trade Organization (WTO) commitments to date in financial services; and (2) it should immediately implement all of its commitments to date made under the auspices of the Strategic Economic Dialogue (SED) initiated by the Secretary of the Treasury. States that U.S. goals for the next SED meeting should be to achieve Chinese commitments toward: (1) removal of all foreign investment ownership caps on banking, life insurance, asset management, and securities; and [...] show full description
Also tagged in: Administrative procedure, Bank accounts, Budgets, Congressional investigations, Congressional reporting requirements, Consumer credit, Consumer education, Consumer protection, Consumers, Counseling, Criminal investigation, Criminal justice, Debtor and creditor, Department of Housing and Urban Development, Department of the Treasury, Executive departments, Executive reorganization, Federal aid to housing, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Foreclosure, Fraud, Government corporations, Governmental investigations, Home ownership, Housing, Housing finance, Insurance premiums, Law, Licenses, Loan defaults, Mortgage banks, Mortgages, National Credit Union Administration, Nonprofit organizations, Property insurance, Property tax, Prosecution, Real estate appraisal, Rental housing, Settlement costs, Social services, Taxation
Latest Action: 07/12/2007 - Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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 committ Bill TextTo amend the Truth in Lending Act to provide for the establishment of fair mortgage practices, generally, and for subprime mortgages in particular, to provide for a national system for licensing or registering residential mortgage loan originators, and for other purposes. 7/12/2007--Introduced. Fair Mortgage Practices Act of 2007 - Prohibits any person, with certain exceptions, from engaging in the business of loan origination without first obtaining and maintaining a registration or a state license as a loan originator. Imposes on the federal banking agencies the sole responsibility for developing a system of registration for loan originators. Directs the Secretary of Housing and Urban Development (HUD) to establish a system for: (1) licensed loan originators; and (2) state-licensed mortgage originators. Amends the Truth in Lending Act to set forth: (1) disclosure requirements for consumer credit plans secured by the consumer's principal dwelling; and [...] show full description
Also tagged in: Alien property, Arab countries, Branch banking, Claims, Compensation for victims of crime, Counterterrorism, Criminal justice, Damages, Expropriation, Finance, Foreign banks and banking, Foreign policy, Fund raising, Government information, Government paperwork, International affairs, International banking, International finance, Law, Licenses, Middle East and North Africa, Public records, Terrorism, Victims of terrorism
Latest Action: 07/10/2007 - Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, 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 commi Bill TextTo require the Secretary of the Treasury to take certain actions with regard to the Arab Bank, and for other purposes. 7/10/2007--Introduced. Arab Bank Accountability Act - Directs the Secretary of the Treasury to release certain documents and information relating to the Arab Bank (other than those which would impede any federal criminal or civil investigation of the Bank). Directs the President to block certain Bank assets within the United States which shall be made available for payment of any terrorism-related judgment against the Bank. States that after any such judgment becomes final the Board of Directors of the Federal Reserve System and the Comptroller of the Currency shall act to terminate any Bank branch or agency in the United States and to prohibit the Bank from maintaining any interest in any commercial lending company within the United States.
Also tagged in: Administrative procedure, Community development banking, Department of the Treasury, Executive departments, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Financial planning, Financial services, Government corporations, Law, National Credit Union Administration, Personal budgets
Latest Action: 07/17/2007 - Referred to the Subcommittee on Financial Institutions and Consumer Credit. Bill TextTo amend the Community Reinvestment Act of 1977 to allow the direct support by a financial institution of a qualified community-based financial literacy program provided to consumers and borrowers to be taken into account in assessing the institution's record of meeting the credit needs of its entire community, and for other purposes. 6/22/2007--Introduced. National Financial Literacy Act of 2007 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy [...] show full description
Also tagged in: Bank capital, Bank holding companies, Bank management, Bank mergers, Bank records, Business, Deposit insurance, Finance, Foreign banks and banking, International finance, Nonbank banks, Subsidiary corporations
Latest Action: 05/10/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextA bill to amend the Federal Deposit Insurance Act to establish industrial bank holding company regulation, and for other purposes. 5/10/2007--Introduced. Industrial Bank Holding Company Act of 2007 - Amends the Federal Deposit Insurance Act (FDIA) to apply the bank share or asset acquisition requirements of the Bank Holding Company Act of 1956 to any company that is or would become an industrial bank holding company.Subjects an industrial bank to Federal Deposit Insurance Corporation (FDIC) requirements regarding registration, reporting, and bank examinations. Prohibits the FDIC from imposing capital or capital adequacy requirements on functionally regulated affiliates of any depository institution controlled by industrial bank holding companies meeting certain criteria. Requires a federal supervisory agency of an industrial bank holding company to forego examination of any depository institution subsidiary of the holding company. Authorizes the [...] show full description
Also tagged in: Actions and defenses, Administrative remedies, Affiliated corporations, Bank deposits, Banks and banking, Business, Collection of accounts, Congressional reporting requirements, Consumer complaints, Consumer credit, Consumer protection, Consumers, Damages, Department of the Treasury, Executive departments, Federal preemption, Federal-state relations, Finance, Foreclosure, Fraud, Government information, Government paperwork, Government publicity, Government statistics, Governmental investigations, Housing, Law, Mortgage banks, Mortgages, Restrictive trade practices, Savings and loan associations, State and local government, State laws, Subsidiary corporations
Latest Action: 06/07/2007 - Referred to the Subcommittee on Financial Institutions and Consumer Credit. Bill TextTo clarify the applicability of State law to national banks and Federal savings associations, and for other purposes. 4/23/2007--Introduced. Preservation of Federalism in Banking Act - Amends the Revised Statutes of the United States and the Home Owners' Loan Act to declare applicable to either a national bank or federal savings association any consumer protection in state consumer law of general application (including unfair or deceptive acts or practices, consumer fraud law and repossession, foreclosure, and collection). Declares that when a national bank or federal savings association avails itself of state law for its benefit, all related consumer protections in such state law shall apply. Declares applicable to a national bank or federal savings association: (1) state banking or thrift laws enacted pursuant to federal law; and (2) state laws providing greater protection in high cost mortgage loans (predatory mortgage loans). Permits the Comptroller [...] show full description
Also tagged in: Bank loans, Capital investments, Community development banking, Congregate housing, Finance, Home ownership, Housing, Housing finance, Interest rates, Mortgages, Soldiers' homes, Veterans, Veterans' benefits
Latest Action: 04/19/2007 - Referred to the House Committee on Financial Services. Bill TextTo amend the Community Reinvestment Act of 1977 to allow community reinvestment credit for investments and other financial support to enable veterans to purchase residential homes or to assist organizations with the establishment of housing opportunities and assisted living facilities for veterans. 4/19/2007--Introduced. A Home for the Brave Act - Amends the Community Reinvestment Act of 1977 to require the appropriate federal financial supervisory agency, when assessing the record of a financial institution, to take into account capital investments, low interest loans, loan participation, technical assistance, and grants by the institution to support or enable: (1) any veteran to purchase a home for use as the principal residence of the veteran; and (2) any entity that is establishing housing opportunities or assisted living facilities for veterans to carry out such activities.
Also tagged in: Actions and defenses, Administrative fees, Administrative procedure, Advice and consent of the Senate, Affordable housing, Aged, Apartment houses, Auditing, Bank capital, Bank loans, Bank mergers, Bank reserves, Bankruptcy, Budgets, Business, Charitable contributions, Children, Community development banking, Conflict of interests, Congress, Congressional investigations, Congressional reporting requirements, Contracts, Corporate governance, Corporate philanthropy, Corporation directors, Criminal justice, Damages, Day care, Department of Housing and Urban Development, Depressed areas, Economic policy, Employee rights, Energy, Energy conservation, Energy conservation in buildings, Energy efficiency, Environmental protection, Executive compensation, Executive departments, Executive reorganization, Federal advisory bodies, Federal aid to housing, Federal employees, Federal home loan banks, Federal Housing Finance Board, Finance, Financial statements, Fines (Penalties), Fraud, Government corporations, Government employees, Government information, Government paperwork, Government publicity, Government trust funds, Home ownership, Housing, Housing finance, Housing subsidies, Income tax, Information disclosure (Securities law), Injunctions, Interest rates, Judicial review, Labor, Law, Leases, Liability (Law), Liens, Limitation of actions, Low-income housing, Medical care, Medicine, Minorities, Minorities in government, Minority business enterprises, Minority employment, Money laundering, Mortgage banks, Mortgages, Nonprofit organizations, Nursing homes, Ombudsman, Politics and government, Presidential appointments, Presidents, Price indexes, Rent, Rental housing, Rural affairs, Rural housing, Secondary mortgage market, Securities regulation, Single family housing, Social services, Standards, Stocks, Sunset legislation, Tax credits, Taxation, Transfer of employees, Welfare, Women, Women in business, Women in government, Women's employment
Latest Action: 05/24/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo reform the regulation of certain housing-related Government-sponsored enterprises, and for other purposes. 5/22/2007--Passed House amended. (There are 2 other summaries) Federal Housing Finance Reform Act of 2007 - Title I: Reform of Regulation of Enterprises and Federal Home Loan Banks - Subtitle A: Improvement of Safety and Soundness - (Sec. 101) Amends the Housing and Community Development Act of 1992 (Act) to establish, in place of the present Office of Federal Housing Enterprise Oversight, a Federal Housing Finance Agency (FHFA), headed by a Director (Director) possessing general supervisory and regulatory authority over the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the federal home loan banks ("the regulated entities"). (Sec. 102) Requires the Director to establish standards for each regulated entity, especially standards relating to: (1) [...] show full description
Also tagged in: Administrative procedure, Affiliated corporations, Automobile insurance, Bank accounts, Bank holding companies, Bank loans, Bank mergers, Bank records, Banks and banking, Brokers, Business, Business insurance, Business records, Casualty insurance, Civil rights, Community development banking, Consent decrees, Consumer credit, Consumers, Data banks, Department of Housing and Urban Development, Department of the Treasury, Depressed areas, Discrimination in consumer credit, Economic policy, Executive departments, Fair housing, Federal Deposit Insurance Corporation, Federal reserve system, Finance, Financial institutions, Financial services, Fines (Penalties), Government corporations, Government information, Government paperwork, Government publicity, Housing, Information disclosure (Securities law), Injunctions, Insurance, Insurance agents, Insurance companies, Insurance premiums, Investment advisers, Investments, Law, Liability (Law), Minorities, Mortgage banks, Mortgage guaranty insurance, Mortgages, Mutual funds, Nonbank banks, Property insurance, Public meetings, Racial discrimination, Rural affairs, Securities industry, Securities regulation, Small business, Technology, Usury
Latest Action: 03/01/2007 - Referred to the House Committee on Financial Services. Bill TextTo enhance the availability of capital and credit for all citizens and communities, to ensure that community reinvestment keeps pace as banks, securities firms, and other financial service providers become affiliates as a result of the enactment of the Gramm-Leach-Bliley Act, and for other purposes. 3/1/2007--Introduced. Community Reinvestment Modernization Act of 2007 - Repeals specified revisions to regulations governing the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Director of the Office of Thrift Supervision. Reinstates banking agency regulations in effect before the publication of such revisions. Amends the Bank Holding Company Act of 1956 (BHCA) to subject to the Community Reinvestment Act of 1977 (CRA) nonbank affiliates of bank holding companies that engage in lending or offering banking products or services. Amends the CRA to require a rating reduction [...] show full description
Also tagged in: Administrative procedure, Bank holding companies, Business, Corporate finance, Executive departments, Federal Deposit Insurance Corporation, Finance, Financial statements, Government corporations, Government information, Government paperwork, Law, Subsidiary corporations
Latest Action: 05/22/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill TextTo amend the Federal Deposit Insurance Act to establish industrial bank holding company regulation, and for other purposes. 5/21/2007--Passed House amended. (There are 2 other summaries) Industrial Bank Holding Company Act of 2007 - Amends the Federal Deposit Insurance Act (FDIA) to apply the bank share or asset acquisition requirements of the Bank Holding Company Act of 1956 to any company that is or would become an industrial bank holding company. States that an application filed to acquire control of an industrial bank shall be treated as an application for a deposit facility. Subjects an industrial bank to Federal Deposit Insurance Corporation (FDIC) requirements regarding registration, reporting, and bank examinations. Authorizes the FDIC to accept reports that an industrial bank holding company or its subsidiary has provided to another federal or state supervisor or to any appropriate self-regulatory organization. Prohibits [...] show full description
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