All Bank accounts Legislation - Federal Government
S.3410 - A bill to authorize a grant program to provide for expanded access to mainstream financial institutions.
Latest Action: 07/31/2008 - Sponsor introductory remarks on measure. (CR S7968-7969) Bill Text A bill to authorize a grant program to provide for expanded access to mainstream financial institutions. 7/31/2008--Introduced. Improving Access to Mainstream Financial Institutions Act of 2008 - Authorizes the Secretary of the Treasury to award grants, including multi-year grants, to specified eligible entities to establish an account in a federally insured depository institution for low- and moderate-income individuals that currently do not have such an account. Includes among such eligible entities: (1) Alaska Native Corporations; (2) Native Hawaiian organizations; and (3) labor organizations.Authorizes the Secretary to award demonstration project grants to eligible entities to provide low-cost, small loans to consumers that will provide alternatives to more costly, predatory payday loans. Requires such entities to be: (1) tax-exempt charitable organizations; (2) federally insured depository institutions; (3) community development financial institutions; or (4) partnerships [...] show full description Comment on Bill S.3372 - A bill to promote savings by providing a match for eligible taxpayers who contribute to savings products and to facilitate taxpayers receiving this match and open a bank account when they file their Federal income tax returns.
Latest Action: 07/31/2008 - Read twice and referred to the Committee on Finance. Bill Text A bill to promote savings by providing a match for eligible taxpayers who contribute to savings products and to facilitate taxpayers receiving this match and open a bank account when they file their Federal income tax returns. 7/31/2008--Introduced.
Saver's Bonus Act of 2007 [sic] - Directs the Secretary of the Treasury to develop programs to: (1) match deposits made by low-income individuals into certain savings accounts (saver's bonus); (2) deposit tax refunds electronically into savings accounts; and (3) allow individual taxpayers to purchase U.S. savings bonds on their federal income tax returns. Requires the Commissioner of the Internal Revenue Service (IRS) to notify low-income taxpayers of their eligibility for the saver's bonus and of their options under this Act. S.RES.642 - A resolution to authorize the production of records by the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs.
Latest Action: 07/31/2008 - Submitted in the Senate, considered, and agreed to without amendment and with a preamble by Unanimous Consent. (consideration: CR S7981; text as passed Senate: CR S7981; text of measure as introduced: CR S7977) Bill Text A resolution to authorize the production of records by the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs. 7/31/2008--Passed Senate 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.) Authorizes the Chairman and Ranking Minority Member of the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs, acting jointly, to provide to law enforcement officials, regulatory agencies, and other entities or individuals duly authorized by federal, state, or foreign governments, records of the Subcommittee's investigation into tax haven financial institutions, their formation and administration of offshore entities and accounts for use by U.S. clients, and the impact of those activities on tax compliance in the United States. H.R.6312 - 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.
Latest Action: 06/25/2008 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill Text 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. 6/24/2008--Passed House without amendment. (There is 1 other summary) (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Credit Union, Bank, and Thrift Regulatory Relief Act of 2008 - Title I: Credit Unions - (Sec. 101) 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. (Sec. 103) Excludes credit union loans to nonprofit religious organizations [...] show full description H.R.5857 - To establish licensing and registration requirements for residential mortgage originators, improve mortgage disclosures, create an Office of Housing Counseling, to provide incentives to facilitate loan modifications, reform the regulation of the Government Sponsored Enterprises, modernize the Federal Housing Administration, improve home ownership for veterans, reform appraisal activities, and combat mortgage fraud, and for other purposes.
Latest Action: 05/23/2008 - Referred to the Subcommittee on Military Personnel. Bill Text To establish licensing and registration requirements for residential mortgage originators, improve mortgage disclosures, create an Office of Housing Counseling, to provide incentives to facilitate loan modifications, reform the regulation of the Government Sponsored Enterprises, modernize the Federal Housing Administration, improve home ownership for veterans, reform appraisal activities, and combat mortgage fraud, and for other purposes. 4/22/2008--Introduced. Homeownership Protection and Housing Market Stabilization Act of 2008 - Sets forth a licensing and registry system for residential mortgage loan originators. Amends the Truth in Lending Act to require additional creditor disclosures on residential mortgage loans. Expand and Preserve Home Ownership Through Counseling Act - Amends the Department of Housing and Urban Development Act to establish the Office of Housing Counseling in the Office of the Secretary of Housing and Urban Development (HUD). Amends [...] show full description H.R.5716 - To amend the Internal Revenue Code of 1986 to provide taxpayer protection and assistance, and for other purposes.
Latest Action: 04/08/2008 - Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, 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 Text To amend the Internal Revenue Code of 1986 to provide taxpayer protection and assistance, and for other purposes. 4/8/2008--Introduced. Taxpayer Bill of Rights Act of 2008 - Amends the Internal Revenue Code to require the Secretary of the Treasury to publish a summary statement of specified taxpayer rights and obligations.Authorizes the Secretary to: (1) make grants to provide matching funds for qualified return preparation programs that provide volunteer income tax preparation assistance to low-income taxpayers; and (2) refer such taxpayers to taxpayer clinics funded by the federal government. Requires the Secretary to establish a system for regulating and testing federal income tax return preparers.Requires refund loan facilitators to file annual registrations with the Secretary and to make certain disclosures to borrowers about refund anticipation loans.Expands and increases penalties on tax return preparers for understating taxpayer liabilities.[...] show full description S.2714 - A bill to close the loophole that allowed the 9/11 hijackers to obtain credit cards from United States banks that financed their terrorists activities, to ensure that illegal immigrants cannot obtain credit cards to evade United States immigration laws, and for other purposes.
Latest Action: 03/06/2008 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 599. Bill Text A bill to close the loophole that allowed the 9/11 hijackers to obtain credit cards from United States banks that financed their terrorists activities, to ensure that illegal immigrants cannot obtain credit cards to evade United States immigration laws, and for other purposes. 3/5/2008--Introduced.
Authorizes a financial institution, when verifying the identity of a non-U.S. citizen or national who is seeking to open a bank account, to accept only: (1) a Social Security number; (2) a passport number and the country of issuance; (3) an alien identification card number; or (4) any combination of such items. Prohibits a financial institution, for such verification purposes, from accepting identification documents issued by a foreign government, other than an unexpired passport. S.2393 - A bill to close the loophole that allowed the 9/11 hijackers to obtain credit cards from United States banks that financed their terrorists activities, to ensure that illegal immigrants cannot obtain credit cards to evade United States immigration laws, and for other purposes.
Latest Action: 11/16/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Bill Text A bill to close the loophole that allowed the 9/11 hijackers to obtain credit cards from United States banks that financed their terrorists activities, to ensure that illegal immigrants cannot obtain credit cards to evade United States immigration laws, and for other purposes. 11/16/2007--Introduced.
Authorizes a financial institution, when verifying the identity of a non-U.S. citizen or national who is seeking to open a bank account, to accept only: (1) a Social Security number; (2) a passport number and the country of issuance; (3) an alien identification card number; or (4) any combination of such items. Prohibits a financial institution, for such verification purposes, from accepting identification documents issued by a foreign government, other than an unexpired passport. H.R.4159 - To amend the Internal Revenue Code of 1986 to restructure and replace the income tax system of the United States to meet national priorities, and for other purposes.
Latest Action: 11/13/2007 - Referred to the House Committee on Ways and Means. Bill Text To amend the Internal Revenue Code of 1986 to restructure and replace the income tax system of the United States to meet national priorities, and for other purposes. 11/13/2007--Introduced. Simplified USA Tax Act of 2007 - Repeals, after 2006, income tax and estate and gift tax provisions of the Internal Revenue Code of 1986. Replaces such Code with a new tax system, to be known as the Simplified USA Tax. Establishes three income tax brackets at 15, 25, and 30% for individual taxpayers. Redefines "gross income" and allows certain exclusions from gross income, including previously-taxed benefits, tax-exempt bond interest, compensation for injuries and sickness, and gain from the sale of a principal residence. Allows tax deductions for alimony and child support, home mortgage interest, certain higher education expenses, and charitable contributions. Allows a tax credit for employee social security payroll taxes.Revises rules for Roth individual retirement [...] show full description H.R.3837 - To require escrows for certain mortgage loans, to improve mortgage servicing, to promote sustainable homeownership opportunities, to enhance appraisal quality and standards, to better appraisal oversight, to mitigate appraiser pressure, and for other purposes.
Latest Action: 11/07/2007 - Committee Consideration and Mark-up Session Held. Bill Text To require escrows for certain mortgage loans, to improve mortgage servicing, to promote sustainable homeownership opportunities, to enhance appraisal quality and standards, to better appraisal oversight, to mitigate appraiser pressure, and for other purposes. 10/16/2007--Introduced. Escrow, Appraisal, and Mortgage Servicing Improvements Act - Amends the Truth in Lending Act to require a creditor, in a consumer credit transaction secured by the consumer's principal dwelling, to establish an escrow or impound account to pay taxes and hazard insurance, and, if applicable, flood insurance, mortgage insurance, ground rents, and any other required periodic payments or premiums. Requires written disclosures by the creditor to the consumer regarding: (1) such escrow or impound account; and (2) consumers who opt out of escrow services. Amends the Real Estate Settlement Procedures Act of 1974 to proscribe specified practices by the servicer of a federally related mortgage,[...] show full description H.R.3535 - To amend the Truth in Lending Act to require escrow accounts for the payment of property taxes and insurance for all subprime loans, and to expand the coverage of the appraisal requirements under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and for other purposes.
Latest Action: 09/14/2007 - Referred to the House Committee on Financial Services. Bill Text To amend the Truth in Lending Act to require escrow accounts for the payment of property taxes and insurance for all subprime loans, and to expand the coverage of the appraisal requirements under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and for other purposes. 9/14/2007--Introduced. Homebuyer's Protection Act of 2007 - Amends the Truth in Lending Act to require a creditor to establish, in an insured depository institution, an escrow or impound account for payment of taxes and hazard insurance at the time of the consummation of a subprime mortgage transaction. Requires such account to remain in existence for as long as the subprime mortgage is outstanding. Requires creditors, before consummating a consumer credit transaction involving an impound, trust, or escrow account, to provide the following written disclosures: (1) that an escrow or impound account will be established; (2) the amount required to fund such account; (3) the [...] show full description H.R.3420 - To 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.
Latest Action: 08/03/2007 - Referred to the House Committee on Ways and Means. Bill Text To 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. S.1967 - A bill to provide administrative ease and incentives for increased saving by Americans, and for other purposes.
Latest Action: 08/02/2007 - Read twice and referred to the Committee on Finance. Bill Text A bill to provide administrative ease and incentives for increased saving by Americans, and for other purposes. 8/2/2007--Introduced. New Savers Act - Requires the Commissioner of Internal Revenue to notify individual taxpayers of their options to: (1) have their income tax refunds electronically deposited to a designated bank account (e.g., savings account); and (2) purchase U.S. savings bonds when they file their federal income tax returns.Authorizes the Secretary of the Treasury to: (1) make grants to provide matching funds for clinics to assist low-income taxpayers in preparing and filing their federal income tax returns; (2) increase payments to financial institutions to offset the costs of opening electronic transfer accounts; and (3) provide grants to states to increase participation in qualified tuition programs by moderate and low-income families.Requires the Secretary to: (1) establish performance measures to evaluate the extent to which Americans save [...] show full description H.R.3146 - To provide additional tools and resources to combat terrorism financing.
Latest Action: 08/10/2007 - Referred to the Subcommittee on Crime, Terrorism, and Homeland Security. Bill Text To provide additional tools and resources to combat terrorism financing. 7/24/2007--Introduced.
Combating Terrorism Financing Act of 2007 - Amends the federal criminal code to: (1) expand prohibitions against conducting monetary transactions over $10,000 for the purpose of engaging in interstate criminal activities; (2) authorize the Attorney General to obtain a 30-day ex parte court order freezing the bank account of any individual arrested or charged for crimes involving the movement of funds into or out of the United States; (3) expand money laundering prohibitions to include monetary transactions; and (4) include monetary transactions involving commingled funds or structured transactions in prosecuting interstate transfers of funds greater than $10,000 for criminal purposes. Includes within the requirement to report monetary transactions exceeding $10,000 blank monetary instruments in bearer form drawn on accounts found to contain more than $10,000. H.R.3012 - 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.
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 Text 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 H.R.2974 - To protect innocent parties from certain fees imposed by depository institutions for dishonored checks, and for other purposes.
Latest Action: 07/10/2007 - Referred to the House Committee on Financial Services. Bill Text To protect innocent parties from certain fees imposed by depository institutions for dishonored checks, and for other purposes. 7/10/2007--Introduced.
Innocent Check Depositor Protection Act - Amends the Expedited Funds Availability Act to prohibit a receiving depository institution from imposing check dishonorment fees upon a depositor if the check is drawn on an account at an originating institution which subsequently dishonors it for lack of sufficient funds. States that this Act shall not be construed as affecting any intervening depository institution or the costs of services it provides. H.R.2911 - To amend the Electronic Fund Transfer Act to provide similar protections under that Act for consumers as apply under the Truth in Lending Act, and for other purposes.
Latest Action: 06/28/2007 - Referred to the House Committee on Financial Services. Bill Text To amend the Electronic Fund Transfer Act to provide similar protections under that Act for consumers as apply under the Truth in Lending Act, and for other purposes. 6/28/2007--Introduced. Electronic Funds Transfer Equal Consumer Protection Act - Amends the the Electronic Fund Transfer Act to treat as an error any electronic fund transfer affecting the customer's account regarding a transaction for goods or services not accepted by or not delivered to the customer, or not in accordance with the agreement made at the time of the transaction. Redefines electronic fund transfer to cover any transaction initiated through an electronic terminal, telephonic instrument, or computer, including transactions initiated through the use of a check card or a debit card. Revises requirements for a financial institution's discretionary provisional recredit of a consumer's account after receiving notice of an error. Makes such a provisional recredit mandatory, within one business [...] show full description H.RES.499 - Expressing the sense of the House of Representatives that the Administration should rigorously enforce the laws of the United States to substantially reduce illegal immigration and greatly improve border security.
Latest Action: 08/10/2007 - Referred to the Subcommittee on Immigration, Citizenship, Refugees, Border Security, and International Law. Bill Text Expressing the sense of the House of Representatives that the Administration should rigorously enforce the laws of the United States to substantially reduce illegal immigration and greatly improve border security. 6/19/2007--Introduced.
Expresses the House of Representatives' belief respecting specified immigration-related steps that the Administration should take that will reduce illegal immigration and improve U.S. border security. S.RES.239 - A resolution expressing the sense of the Senate that the Administration should rigorously enforce the laws of the United States to substantially reduce illegal immigration and greatly improve border security.
Latest Action: 06/19/2007 - Referred to the Committee on the Judiciary. (text of measure as introduced: CR S7907-7908) Bill Text A resolution expressing the sense of the Senate that the Administration should rigorously enforce the laws of the United States to substantially reduce illegal immigration and greatly improve border security. 6/19/2007--Introduced.
Expresses the Senate's belief respecting specified immigration-related steps that the Administration should take to reduce illegal immigration and improve U.S. border security. H.R.2754 - To require the Board of Governors of the Federal Reserve System to continue to make available to the public on a weekly basis information on the measure of the M3 monetary aggregate, and its components, and for other purposes.
Latest Action: 06/15/2007 - Sponsor introductory remarks on measure. (CR E1304-1305) Bill Text To require the Board of Governors of the Federal Reserve System to continue to make available to the public on a weekly basis information on the measure of the M3 monetary aggregate, and its components, and for other purposes. 6/15/2007--Introduced. Sunshine in Monetary Policy Act - Requires the Board of Governors of the Federal Reserve System to continue to compile and to publish on a weekly basis the measure of the M3 monetary aggregate and the components of the M3 that are not included in the measure of the M2 monetary aggregate. Defines "M3 monetary aggregate" as the inclusive measure of money compiled by: (1) currency in circulation (plus traveler's checks), demand deposits, Negotiable Order of Withdrawal (NOW) accounts, and similar interest-earning checking account balances; (2) household holdings of savings deposits, small time deposits, and retail money market mutual fund balances (exclusive of balances held in IRA and Keogh accounts); and (3) institutional [...] show full description H.R.2136 - To restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes.
Latest Action: 06/04/2007 - Referred to the Subcommittee on Courts, the Internet, and Intellectual Property. Bill Text To restrict the use of offshore tax havens and abusive tax shelters to inappropriately avoid Federal taxation, and for other purposes. 5/3/2007--Introduced. Stop Tax Haven Abuse Act - Amends Internal Revenue Code provisions relating to tax shelter activities to: (1) establish legal presumptions against the validity of transactions involving offshore secrecy jurisdictions (i.e., foreign tax havens identified in this Act and by the Commissioner of the Internal Revenue Service); (2) impose restrictions on foreign jurisdictions, financial institutions, or international transactions that are of primary money laundering concern or that impede U.S. tax enforcement; (3) increase the period for Internal Revenue Service review of tax returns involving offshore secrecy jurisdictions; (4) require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts and accounts established in offshore secrecy jurisdictions;[...] show full description H.R.2096 - To 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.
Latest Action: 05/01/2007 - Sponsor introductory remarks on measure. (CR E898-899) Bill Text To 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. S.1202 - A bill to require agencies and persons in possession of computerized data containing sensitive personal information, to disclose security breaches where such breach poses a significant risk of identity theft.
Latest Action: 05/03/2007 - Committee on the Judiciary. Date of scheduled consideration. SD-226. 10:00 a.m. Bill Text A bill to require agencies and persons in possession of computerized data containing sensitive personal information, to disclose security breaches where such breach poses a significant risk of identity theft. 4/24/2007--Introduced. Personal Data Protection Act of 2007 - Defines "identity theft" to mean a fraud committed using the sensitive personal information of another individual with the intent to commit or to aid or abet unlawful activity that results in economic loss to that individual.Requires any agency or person that owns or licenses computerized data containing sensitive personal information to: (1) develop, implement, and maintain reasonable security and notification procedures and practices (appropriate to the size and nature of the agency or person and the nature of the information) to ensure the security and confidentiality of the personal information and to protect sensitive personal information against unauthorized access, destruction, use, [...] show full description H.R.1993 - To improve the delivery of counterterrorism financing training and technical assistance by providing for greater interagency coordination and cooperation, and for other purposes.
Latest Action: 04/23/2007 - 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 Text To improve the delivery of counterterrorism financing training and technical assistance by providing for greater interagency coordination and cooperation, and for other purposes. 4/23/2007--Introduced.
Counter Terrorism Financing Coordination Act - Directs The Secretary of State and the Secretary of the Treasury to negotiate and enter into a Memorandum of Agreement specifying each Department's role in providing foreign counterterrorism financing training and technical assistance. Requires such Agreement to include provisions respecting: (1) leadership and role designations; (2) dispute resolution methodology; (3) funding and resource coordination; (4) private contractor determinations; and (5) performance evaluation criteria. Directs the Secretary of the Treasury to include in the annual congressional report on terrorist assets information on the nature and extent of activities to block the financial asset access of owners or account holders with terrorism connections. S.1178 - A bill to strengthen data protection and safeguards, require data breach notification, and further prevent identity theft.
Latest Action: 12/05/2007 - Committee on Commerce, Science, and Transportation. Reported by Senator Inouye with amendments. With written report No. 110-235. Bill Text A bill to strengthen data protection and safeguards, require data breach notification, and further prevent identity theft. 12/5/2007--Reported to Senate amended. (There is 1 other summary) Identity Theft Prevention Act - (Sec. 2) Requires any commercial entity or charitable, educational, or nonprofit organization that acquires, maintains, or uses sensitive personal information (covered entity) to develop, implement, maintain, and enforce a written program, containing administrative, technical, and physical safeguards, for the security of sensitive personal information it collects, maintains, sells, transfers, or disposes of. Defines "sensitive personal information" as an individual's name, address, or telephone number combined with at least one of the following relating to that individual: (1) the social security number or numbers derived from that number; (2) financial account or credit or debit card numbers combined with codes or passwords [...] show full description S.1133 - A bill to provide additional protections for recipients of the earned income tax credit.
Latest Action: 04/17/2007 - Sponsor introductory remarks on measure. (CR S4612-4613) Bill Text A bill to provide additional protections for recipients of the earned income tax credit. 4/17/2007--Introduced. Taxpayer Abuse Prevention Act - Amends the Internal Revenue Code to provide that advance payments of the earned income tax credit are not transferable or assignable or subject to the claims of any creditors, except outstanding claims of the federal government.Prohibits: (1) the collection of a debt from a debtor's federal tax refund by means of a refund anticipation loan; and (2) mandatory arbitration as a condition of providing a refund anticipation loan.Terminates the Department of the Treasury Debt Indicator Program. Excludes tax returns that have been filed subject to a refund anticipation loan from any determination of whether goals for electronic filing of tax returns have been met.Allows earned income tax credit benefits to be paid through electronic transfer accounts. Directs the Secretary of the Treasury to: (1) develop [...] show full description |
