Top Law and Government Legislation regarding 'National Credit Union Administration' in Federal Government

To 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 [...]

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To 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 [...]

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To protect information relating to consumers, to require notice of security breaches, and for other purposes. 3/26/2007--Introduced. Data Security Act of 2007 - Prescribes security procedures which an entity that maintains or communicates sensitive account or personal information must implement and enforce in order to protect the information from an unauthorized use likely to result in substantial harm or inconvenience to the consumer. Grants exclusive enforcement powers to specified federal regulatory agencies with oversight of financial institutions. Denies a private right of action, including a class action, regarding any act or practice regulated under this Act. Prohibits any civil or criminal action in state court or under state law relating to any act or practice governed under this Act. Prescribes data security standards to be implemented by federal agencies. Expresses the sense of the Congress that federal regulators shall make every [...]

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Making 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 [...]

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To 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 [...]

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A bill to protect information relating to consumers, to require notice of security breaches, and for other purposes. 5/1/2007--Introduced. Data Security Act of 2007 - Prescribes security procedures which an entity that maintains or communicates sensitive account or personal information must implement and enforce in order to protect the information from an unauthorized use likely to result in substantial harm or inconvenience to the consumer.Grants exclusive enforcement powers to specified federal regulatory agencies with oversight of financial institutions. Denies a private right of action, including a class action, regarding any act or practice regulated under this Act. Prohibits any civil or criminal action in state court or under state law relating to any act or practice governed under this Act. Prescribes data security standards to be implemented by federal agencies.Preempts state law with respect to the responsibilities of any person [...]

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To 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 [...]

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To include all banking agencies within the existing regulatory authority under the Federal Trade Commission Act with respect to depository institutions, and for other purposes. 12/5/2007--Passed House amended.    (There is 1 other summary) Amends the Federal Trade Commission Act to transfer to each federal banking agency, with respect to depository institutions it supervises, the authority to prescribe regulations governing unfair or deceptive practices by banks and savings and loan institutions currently vested in the Board of Governors of the Federal Reserve System (with respect to banks) and the Federal Home Loan Bank Board (with respect to savings and loan institutions). Requires the federal banking agencies to prescribe such regulations: (1) jointly to the extent practicable; and (2) in consultation with the Federal Trade Commission (FTC). Authorizes the FTC, with respect to entities within its jurisdiction, to commence a rulemaking [...]

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To require rapid implementation of guidelines and regulations regarding the accuracy of consumer information furnished to consumer reporting agencies that were required to be established by the Fair and Accurate Credit Transactions Act of 2003 and have not been implemented, to provide that the Federal Trade Commission shall take the lead in implementation of the guidelines and regulations, and for other purposes. 9/14/2007--Introduced. FACT Act Rulewriting Improvement Act of 2007 - Amends the Fair Credit Reporting Act to confer responsibility upon the Federal Trade Commission (FTC) alone to establish accuracy guidelines and prescribe regulations (according to the Fair and Accurate Credit Transactions Act of 2003, or the FACT Act of 2003): (1) for furnishers of information to consumer reporting agencies; and (2) about the circumstances under which such a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information in a consumer report, based [...]

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To amend the Federal Financial Institutions Examination Council Act to require the Council to establish a single telephone number that consumers with complaints or inquiries could call and be routed to the appropriate Federal banking agency or State bank supervisor, and for other purposes. 4/29/2008--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.)Financial Consumer Hotline Act of 2007 - Amends the Federal Financial Institutions Examination Council Act of 1978 to require federal financial institution regulatory agencies, coordinating through the Federal Financial Institutions Examination Council, to establish: (1) a single, toll-free telephone number for consumer complaints and inquiries concerning institutions under their jurisdiction; and (2) a system for routing such calls to the federal financial institution regulatory [...]

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To 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 [...]

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To 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 [...]

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A 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 [...]

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To amend the Federal Financial Institutions Examination Council Act to require the Council to establish a single telephone number that consumers with complaints or inquiries could call and be routed to the appropriate Federal banking agency or State bank supervisor, and for other purposes. 4/29/2008--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.)Financial Consumer Hotline Act of 2007 - Amends the Federal Financial Institutions Examination Council Act of 1978 to require federal financial institution regulatory agencies, coordinating through the Federal Financial Institutions Examination Council, to establish: (1) a single, toll-free telephone number for consumer complaints and inquiries concerning institutions under their jurisdiction; and (2) a system for routing such calls to the federal financial institution regulatory [...]

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To include all banking agencies within the existing regulatory authority under the Federal Trade Commission Act with respect to depository institutions, and for other purposes. 12/5/2007--Passed House amended.    (There is 1 other summary) Amends the Federal Trade Commission Act to transfer to each federal banking agency, with respect to depository institutions it supervises, the authority to prescribe regulations governing unfair or deceptive practices by banks and savings and loan institutions currently vested in the Board of Governors of the Federal Reserve System (with respect to banks) and the Federal Home Loan Bank Board (with respect to savings and loan institutions). Requires the federal banking agencies to prescribe such regulations: (1) jointly to the extent practicable; and (2) in consultation with the Federal Trade Commission (FTC). Authorizes the FTC, with respect to entities within its jurisdiction, to commence a rulemaking [...]

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To require rapid implementation of guidelines and regulations regarding the accuracy of consumer information furnished to consumer reporting agencies that were required to be established by the Fair and Accurate Credit Transactions Act of 2003 and have not been implemented, to provide that the Federal Trade Commission shall take the lead in implementation of the guidelines and regulations, and for other purposes. 9/14/2007--Introduced. FACT Act Rulewriting Improvement Act of 2007 - Amends the Fair Credit Reporting Act to confer responsibility upon the Federal Trade Commission (FTC) alone to establish accuracy guidelines and prescribe regulations (according to the Fair and Accurate Credit Transactions Act of 2003, or the FACT Act of 2003): (1) for furnishers of information to consumer reporting agencies; and (2) about the circumstances under which such a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information in a consumer report, based [...]

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To 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

Making 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 [...]

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To 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 [...]

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A bill to protect information relating to consumers, to require notice of security breaches, and for other purposes. 5/1/2007--Introduced. Data Security Act of 2007 - Prescribes security procedures which an entity that maintains or communicates sensitive account or personal information must implement and enforce in order to protect the information from an unauthorized use likely to result in substantial harm or inconvenience to the consumer.Grants exclusive enforcement powers to specified federal regulatory agencies with oversight of financial institutions. Denies a private right of action, including a class action, regarding any act or practice regulated under this Act. Prohibits any civil or criminal action in state court or under state law relating to any act or practice governed under this Act. Prescribes data security standards to be implemented by federal agencies.Preempts state law with respect to the responsibilities of any person [...]

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