Also tagged in: Bank employees, Finance, Golden parachutes, Housing, Mortgage banks
Latest Action: 09/10/2008 - Referred to the House Committee on Financial Services.

Bill Text
To prohibit golden parachute payments for former executives and directors of Fannie Mae and Freddie Mac.

9/10/2008--Introduced.

Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Federal Housing Finance Regulatory Reform Act of 2008, to require the Director of the Federal Housing Finance Agency to prohibit any golden parachute payment on or after enactment of this Act with respect to any executive officer or member of the board of directors of: (1) the Federal National Mortgage Association (Fannie Mae) and any affiliate; (2) Federal Home Loan Mortgage Corporation (Freddie Mac) and any affiliate; and (3) any Federal Home Loan Bank.


Comment on Bill
Also tagged in: Bank employees, Finance, Golden parachutes, Housing, Mortgage banks
Latest Action: 09/09/2008 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
A bill to prohibit golden parachute payments for former executives and directors of Fannie Mae and Freddie Mac.

9/9/2008--Introduced.

Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Federal Housing Finance Regulatory Reform Act of 2008, to require the Director of the Federal Housing Finance Agency to prohibit any golden parachute payment on or after enactment of this Act with respect to any executive officer or director of: (1) the Federal National Mortgage Association (Fannie Mae) and any affiliate; (2) Federal Home Loan Mortgage Corporation (Freddie Mac) and any affiliate; and (3) any Federal Home Loan Bank.


Comment on Bill
Also tagged in: Electronic data interchange, Finance, Housing, Mortgage banks, Mortgages, Secondary mortgage market, Securities regulation, Swaps (Finance), Telecommunication
Latest Action: 05/22/2008 - Referred to the House Committee on Financial Services.

Bill Text
To establish a risk-reduction and accountability pilot program for the housing-related government-sponsored enterprises.

5/22/2008--Introduced.

Federal Housing Enterprises Transparency and Accountability Act of 2008 - Directs the Federal Housing Board to require each Federal Home Loan Bank, and the Director of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development to require the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), to carry out a pilot program to reduce risk through the use of electronic platforms to conduct transactions in interest rate swaps and forward rate agreements.


Comment on Bill
Also tagged in: Administrative procedure, Armed forces, Armed forces abroad, Bank accounts, Bank capital, Bank examination, Budgets, Business, Community development banking, Consumer education
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 [...]

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Comment on Bill
Also tagged in: Bank loans, Budgets, Education, Federally-guaranteed loans, Finance, Higher education, Investments, Securities, Student loan funds, Surety and fidelity
Latest Action: 04/10/2008 - Sponsor introductory remarks on measure. (CR S2949-2950)

Bill Text
A bill to amend the Federal Home Loan Bank Act to allow Federal home loan banks to invest surplus funds in student loan securities and make advances for student loan financing, and for other purposes.

4/10/2008--Introduced.

Emergency Student Loan Market Liquidity Act - Amends the Federal Home Loan Bank Act to allow federal home loan banks to: (1) invest surplus funds in student loan securities; (2) accept student loans and student loan-related securities as collateral; and (3) provide secured long-term advances to member banks so that they can finance the origination of student loans or purchase or finance student loan-related securities.

Limits the application of this Act to Federal Family Education Loans (FFELs) made under the Higher Education Act of 1965.

Makes the banks' authority effective for investments and advances made between February 1, 2008, and two years after this Act's enactment.


Comment on Bill
Also tagged in: Bank loans, Budgets, Education, Federally-guaranteed loans, Finance, Higher education, Investments, Securities, Student loan funds, Surety and fidelity
Latest Action: 04/08/2008 - Referred to the House Committee on Financial Services.

Bill Text
To amend the Federal Home Loan Bank Act to allow Federal home loan banks to invest surplus funds in student loan securities and make advances for student loan financing, and for other purposes.

4/8/2008--Introduced.

Emergency Student Loan Market Liquidity Act - Amends the Federal Home Loan Bank Act to allow federal home loan banks to: (1) invest surplus funds in student loan securities; (2) accept student loans and student loan-related securities as collateral; and (3) provide secured long-term advances to member banks so that they can finance the origination of student loans or purchase or finance student loan-related securities.

Limits the application of this Act to Federal Family Education Loans (FFELs) made under the Higher Education Act of 1965.

Makes the banks' authority effective for investments and advances made between February 1, 2008, and two years after this Act's enactment.


Comment on Bill
Also tagged in: Bonds, Budgets, Federally-guaranteed loans, Finance, Income tax, Taxation
Latest Action: 08/02/2007 - Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S10806)

Bill Text
A bill to amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds.

8/2/2007--Introduced.

Amends the Internal Revenue Code to allow bonds guaranteed by any federal home loan bank to be treated as tax-exempt state or local bonds (thus excluding interest on such bonds from gross income).


Comment on Bill
Also tagged in: Administrative fees, Administrative procedure, Afghanistan, Aged, Agriculture, Air conditioning, Air pollution, Air travel, Alaska, Alcohol as fuel
Latest Action: 09/27/2008 - Hearings Held by Subcommittee on Energy and Environment Prior to Introduction and Referral (05/15/2007)..

Bill Text
A bill to provide needed housing reform and for other purposes. 7/30/2008--Public Law.    (There are 4 other summaries) Housing and Economic Recovery Act of 2008 - Division A: Housing Finance Reform - Federal Housing Finance Regulatory Reform Act of 2008 - Title I: Reform of Regulation of Enterprises - Subtitle A: Improvement of Safety and Soundness Supervision - (Sec. 1101) Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to replace the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD) with the Federal Housing Finance Agency (Agency), headed by a Director with regulatory authority over: (1) the Office of Finance; (2) the Federal Home Loan Banks (FHLBs); (3) the Federal National Mortgage Association (Fannie Mae); and (4) the Federal Home Loan Mortgage Corporation (Freddie Mac). (Fannie Mae and Freddie Mac are referred to jointly as the enterprises.) [...]

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Comment on Bill
Also tagged in: Access to airports, Accident insurance, Administrative fees, Age and employment, Aged, Agriculture, AIDS (Disease), Air traffic, Air traffic control, Air travel
Latest Action: 11/14/2007 - On motion to recommit to conference committee Failed by the Yeas and Nays: 182 - 231 (Roll no. 1101). (consideration: CR H13903)

Bill Text
Making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2008, and for other purposes. 9/12/2007--Passed Senate amended.    (There are 2 other summaries) Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2008 - Title I: Department of Transportation - Department of Transportation Appropriations Act, 2008 - Makes appropriations for FY2008 to the Department of Transportation, including: (1) the Office of the Secretary; (2) the Federal Aviation Administration (FAA); (3) the Federal Highway Administration; (4) the Federal Motor Carrier Safety Administration; (5) the National Highway Traffic Safety Administration (NHTSA); (6) the Federal Railroad Administration; (7) the Federal Transit Administration (FTA); (8) the Saint Lawrence Seaway Development Corporation; (9) the Maritime Administration; (10) the Pipeline and [...]

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Comment on Bill
Also tagged in: Actions and defenses, Administrative procedure, Bank records, Banks and banking, Class actions (Civil procedure), Commodity Futures Trading Commission, Computer security measures, Consumer credit, Consumer education, Consumer protection
Latest Action: 05/01/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
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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Comment on Bill
Also tagged in: Bonds, Budgets, Federally-guaranteed loans, Finance, Income tax, Taxation
Latest Action: 05/01/2007 - Referred to the House Committee on Ways and Means.

Bill Text
To amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds.

5/1/2007--Introduced.

Amends the Internal Revenue Code to allow bonds guaranteed by any federal home loan bank to be treated as tax-exempt state or local bonds (thus excluding interest on such bonds from gross income).


Comment on Bill
Also tagged in: Bank capital, Bank fraud, Department of Housing and Urban Development, Executive departments, Executive reorganization, Federal advisory bodies, Federal Housing Finance Board, Finance, Fraud, Housing
Latest Action: 04/12/2007 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
A bill to address the regulation of secondary mortgage market enterprises, and for other purposes. 4/12/2007--Introduced. Federal Housing Enterprise Regulatory Reform Act of 2007 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish in lieu of the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD), an independent Federal Housing Enterprise Regulatory Agency, headed by a Director, which shall have authority over: the Federal Home Loan Banks, the Finance Facility, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). Establishes the Federal Housing Enterprise Board, without executive authority, to advise the Director. Sets forth operating, administrative, and regulatory provisions of the Agency, including: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical [...]

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Comment on Bill
Also tagged in: Actions and defenses, Administrative procedure, Bank records, Banks and banking, Class actions (Civil procedure), Commodity Futures Trading Commission, Computer security measures, Consumer credit, Consumer education, Consumer protection
Latest Action: 03/27/2007 - Referred to the Subcommittee on Commerce, Trade and Consumer Protection.

Bill Text
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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Comment on Bill
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 examination
Latest Action: 05/24/2007 - Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Bill Text
To 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) [...]

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