Bank Accounts, Deposits, Capital
US Congress 115th Congress
Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act [HB-88]
[Public Lands and National Parks ]
[Military ]
[Arts and Culture ]
[Recreation ]
[Community Development ]
[Funding ]
[Grants ]
[Tourism ]
Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act (Sec. 3) This bill modifies the boundary of Shiloh National Military Park in Tennessee and Mississippi to include the Fallen Timbers Battlefield, the Russell House Battlefield, and the Davis Bridge Battlefield. The Department of the Interior may acquire such lands, which shall be administered as part of the park. (Sec. 4) The bill establishes the Parker's Crossroads Battlefield in Tennessee as an affiliated area of the National Park System. The
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Sponsored by: Sen. Marsha Blackburn
Message On House Action Received In Senate And At Desk: House Amendment To Senate Amendment. on 12/21/2018
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Federal Reserve Transparency Act of 2017 [HB-24]
[Finance ]
[Budget and Spending ]
[Taxes ]
Federal Reserve Transparency Act of 2017 (Sec. 2) This bill directs the Government Accountability Office (GAO) to complete, within 12 months, an audit of the Federal Reserve Board and Federal Reserve banks. In addition, the bill allows the GAO to audit the Federal Reserve Board and Federal Reserve banks with respect to: (1) international financial transactions; (2) deliberations, decisions, or actions on monetary policy matters; (3) transactions made under the direction of the Federal Open Market Committee; and (4) discussions or communications
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Sponsored by: Rep. Alexander Mooney
Committee Consideration And Mark-up Session Held. Markup Report Cq on 03/28/2017
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SAFE Banking Act Secure and Fair Enforcement Banking Act [S.1152]
[Cannabis ]
[Finance ]
[Small Business ]
[Insurance ]
[Real Estate ]
SAFE Banking Act Secure and Fair Enforcement Banking Act This bill prohibits a federal banking regulator from: (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate marijuana-related business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3) recommending, incentivizing, or encouraging a depository institution not to offer financial services to an account holder
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Sponsored by: Sen. Cory Booker
Committee On Banking, Housing, And Urban Affairs. Hearings Held. on 06/08/2017
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Consumer Financial Choice and Capital Markets Protection Act of 2017 [S.1117]
[Finance ]
[Consumer Protection ]
[Investments ]
Consumer Financial Choice and Capital Markets Protection Act of 2017 This bill amends the Investment Company Act of 1940 to allow a money market fund, under specified conditions, to elect to operate using a different method of valuation than is otherwise required. A money market fund that elects to do so shall not be subject to specified requirements related to the imposition of liquidity fees. Certain federal assistance may not be provided directly to any money market fund. This limitation on federal assistance must be disclosed in a money market's
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Sponsored by: Sen. Robert Menendez
Committee On Banking, Housing, And Urban Affairs. Hearings Held. on 06/26/2018
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Keeping Capital Local for Underserved Communities Act of 2017 [HB-2403]
[Community Development ]
[Economic Development ]
[Finance ]
[Small Business ]
Keeping Capital Local for Underserved Communities Act of 2017
Sponsored by: Rep. Gregory Meeks
Introduced In House on 05/08/2017
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United States Employee Ownership Bank Act [HB-2357]
[Finance ]
[Labor, Jobs, Employment ]
[Small Business ]
[Economic Development ]
United States Employee Ownership Bank Act This bill requires the Department of the Treasury to establish the U.S. Employee Ownership Bank, which shall be authorized to provide, in accordance with specified terms, conditions, and other requirements, financial assistance to increase employee ownership of a company. In addition, the bill amends the Worker Adjustment and Retraining Notification Act to specify that, in general, if an employer orders the closing of a plant or facility, the employer must offer its employees an opportunity to purchase the
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Sponsored by: Rep. Peter DeFazio
Introduced In House on 05/04/2017
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Investing in Main Street Act of 2017 [HB-2364]
[Finance ]
[Small Business ]
[Investments ]
Investing in Main Street Act of 2017 (Sec. 2) This bill amends the Small Business Investment Act of 1958 to increase from 5% to 15% of its capital and surplus, the amount a national bank, a member bank of the Federal Reserve System, a nonmember insured bank (to the extent permitted under applicable state law), or a federal savings association may invest in one or more small business investment companies (SBICs), or in any entity established to invest solely in SBICs. The increase is subject to the approval of the appropriate federal banking agency.
Sponsored by: Rep. Judy Chu
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 07/25/2017
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Save for Success Act [HB-2378]
[Education ]
[Taxes ]
[Student Loans ]
[Budget and Spending ]
Save for Success Act This bill amends the Internal Revenue Code, with respect to the American Opportunity Tax Credit for qualified tuition and related expenses, to: (1) permit up to $250 of the credit per year to be used for college savings contributions that are taken into account before tuition and fees, (2) direct the Departments of the Treasury and Education to jointly establish a pilot program to make periodic payments of the credit as educational expenses for a student are incurred during the taxable year, and (3) direct Treasury to establish
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Sponsored by: Rep. Eleanor Norton
Introduced In House on 05/04/2017
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Consumer Financial Choice and Capital Markets Protection Act of 2018 [HB-2319]
[Finance ]
[Consumer Protection ]
[Investments ]
Consumer Financial Choice and Capital Markets Protection Act of 2018 This bill amends the Investment Company Act of 1940 to allow a money market fund, under specified conditions, to elect to operate using a different method of valuation than is otherwise required. Under specified conditions, a money market fund shall not be subject to certain requirements related to the imposition of liquidity fees. Certain federal assistance may not be provided directly to any money market fund. This limitation on federal assistance must be disclosed in a money
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Sponsored by: Rep. Alexander Mooney
Reported (amended) By The Committee On Financial Services. H. Rept. 115-903. on 08/24/2018
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Putting Main Street FIRST Act Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act [HB-2306]
[Finance ]
[Taxes ]
[Small Business ]
[Trade ]
[Investments ]
Putting Main Street FIRST Act Putting Main Street FIRST: Finishing Irresponsible Reckless Speculative Trading Act This bill amends the Internal Revenue Code to impose a .03% excise tax on the purchase of a security if: (1) such purchase occurs on, or is subject to the rules of, a qualified board or exchange located in the United States; or (2) the purchaser or seller is a U.S. person. A "security" includes: (1) any share of stock in a corporation, (2) any partnership or beneficial ownership interest in a partnership or trust; (3) any note, bond,
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Sponsored by: Rep. Raul Grijalva
Introduced In House on 05/03/2017
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Charlotte's Web Medical Access Act of 2017 [HB-2273]
[Cannabis ]
[Healthcare ]
[Pharmaceuticals ]
[Public Health ]
Charlotte's Web Medical Access Act of 2017 This bill amends the Controlled Substances Act (CSA): to add definitions for the terms "cannabidiol" and "cannabidiol-rich plants," to exclude cannabidiol and cannabidiol-rich plants from the definition of marijuana, and to remove cannabidiol and cannabidiol-rich plants from coverage under the CSA. The bill also removes cannabidiol and cannabidiol-rich plants from coverage under the Federal Food, Drug, and Cosmetic Act. Finally, it specifies that no provision of this bill prohibits or restricts the use,
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Sponsored by: Rep. Raul Grijalva
Referred To The Subcommittee On Crime, Terrorism, Homeland Security, And Investigations. on 06/02/2017
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Portfolio Lending and Mortgage Access Act [HB-2226]
[Finance ]
[Housing ]
[Real Estate ]
[Consumer Protection ]
Portfolio Lending and Mortgage Access Act (Sec. 2) This bill amends the Truth in Lending Act to allow a depository institution or credit union with assets below a specified threshold to forgo certain ability-to-pay requirements regarding residential mortgage loans. Specifically, those requirements are waived if a loan: (1) is originated by and continuously retained by the institution, (2) complies with requirements regarding prepayment penalties and points and fees, and (3) does not have negative amortization or interest-only terms. Furthermore,
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Sponsored by: Rep. Ted Poe
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/07/2018
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SAFE Act of 2017 Secure And Fair Enforcement Banking Act of 2017 [HB-2215]
[Cannabis ]
[Finance ]
[Small Business ]
[Insurance ]
[Law Enforcement ]
[Public Safety ]
SAFE Act of 2017 Secure And Fair Enforcement Banking Act of 2017 This bill prohibits a federal banking regulator from: (1) terminating or limiting the deposit insurance or share insurance of a depository institution solely because the institution provides financial services to a legitimate marijuana-related business; (2) prohibiting or otherwise discouraging a depository institution from offering financial services to such a business; (3) recommending, incentivizing, or encouraging a depository institution not to offer financial services to an account
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Sponsored by: Rep. Sean Maloney
Referred To The Subcommittee On Crime, Terrorism, Homeland Security, And Investigations. on 09/21/2017
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Financial CHOICE Act of 2017 [HB-10]
[Finance ]
[Insurance ]
[Small Business ]
[Consumer Protection ]
[Investments ]
[Housing ]
[Real Estate ]
[Budget and Spending ]
[Taxes ]
[Technology and Innovation ]
[Trade ]
[Economic Development ]
[Senior Citizens ]
[Retirement ]
Financial CHOICE Act of 2017 (Sec. 2) This bill repeals provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and other laws. Any rule that was issued or revised pursuant to a provision repealed by the bill is nullified. TITLE I--ENDING "TOO BIG TO FAIL" AND BANK BAILOUTS Subtitle A--Repeal of the Orderly Liquidation Authority (Sec. 111) The bill repeals the orderly liquidation authority of the Federal Deposit Insurance Corporation (FDIC). The FDIC's orderly liquidation authority, as established under the Dodd-Frank Act, allows
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Sponsored by: Rep. Alexander Mooney
Committee On Banking, Housing, And Urban Affairs. Hearings Held. Hearings Printed: S.hrg. 115-108. on 07/13/2017
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Clarifying Commercial Real Estate Loans [HB-2148]
[Real Estate ]
[Finance ]
[Housing ]
[Community Development ]
[Construction ]
Clarifying Commercial Real Estate Loans (Sec. 2) This bill amends the Federal Deposit Insurance Act to specify that a federal banking agency may not subject a depository institution to higher capital standards with respect to a high-volatility commercial real-estate (HVCRE) exposure unless the exposure is an HVCRE acquisition, development, or construction (ADC) loan. An HVCRE ADC loan is a one that: (1) is secured by land or improved real property; (2) has the purpose of providing financing to acquire, develop, or improve the real property such
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Sponsored by: Rep. David Scott
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 11/08/2017
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Pension, Endowment, and Mutual Fund Access to Banking Act [HB-2121]
[Finance ]
[Pensions ]
Pension, Endowment, and Mutual Fund Access to Banking Act This bill excludes, for purposes of calculating a custodial bank's supplementary leverage ratio, funds of a custodial bank that are deposited with certain central banks. ("Supplementary leverage ratio" is a capital adequacy measure that refers to the ratio of a banking organization's tier-one capital to its leverage exposure.) The amount of such funds shall be limited, as specified by the bill.
Sponsored by: Rep. Alexander Mooney
Reported (amended) By The Committee On Financial Services. H. Rept. 115-656. on 04/26/2018
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To repeal the violation of sovereign nations' laws and privacy matters. [HB-2054]
[Taxes ]
[International ]
[Finance ]
[Data Privacy ]
To repeal the violation of sovereign nations' laws and privacy matters. This bill amends the Internal Revenue Code, with respect to tax administration requirements for foreign-source income and assets, to repeal: (1) withholding requirements for payments to foreign financial institutions and other foreign entities, (2) information reporting for foreign financial assets, (3) penalties for underpayments of tax attributable to undisclosed foreign financial assets, (4) reporting requirements for shareholders of a passive foreign investment company and
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Sponsored by: Rep. Mark Meadows
Introduced In House on 04/06/2017
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A bill to repeal the violation of sovereign nations' laws and privacy matters. [S.869]
[Taxes ]
[International ]
[Finance ]
[Data Privacy ]
A bill to repeal the violation of sovereign nations' laws and privacy matters. This bill amends the Internal Revenue Code, with respect to tax administration requirements for foreign-source income and assets, to repeal: (1) withholding requirements for payments to foreign financial institutions and other foreign entities, (2) information reporting for foreign financial assets, (3) penalties for underpayments of tax attributable to undisclosed foreign financial assets, (4) reporting requirements for shareholders of a passive foreign investment company
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Sponsored by: Sen. Roger Wicker
Read Twice And Referred To The Committee On Finance. on 04/06/2017
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Stop Tax Haven Abuse Act [HB-1932]
[Finance ]
[Taxes ]
[Trade ]
[Small Business ]
[Cybersecurity ]
[Economic Development ]
[Law Enforcement ]
[National Security ]
[Crime ]
Stop Tax Haven Abuse Act This bill authorizes the Department of the Treasury to impose restrictions on foreign jurisdictions or financial institutions to counter money laundering and efforts to significantly impede U.S. tax enforcement. The bill amends the Internal Revenue Code to: expand reporting requirements for certain foreign investments and accounts held by U.S. persons, establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance
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Sponsored by: Rep. Raul Grijalva
Introduced In House on 04/05/2017
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Small Bank Holding Company Relief Act [HB-1948]
[Finance ]
[Small Business ]
Small Bank Holding Company Relief Act This bill requires the Federal Reserve Board (FRB) to revise its Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors (which allows smaller bank companies to have higher debt levels than are generally allowed). Specifically, the FRB must raise the consolidated asset threshold at which the statement applies from $1 billion to $10 billion.
Sponsored by: Rep. Blaine Luetkemeyer
Introduced In House on 04/05/2017