Banking And Financial Institutions Regulation
US Congress 115th Congress
Markets and Trading Reorganization Act [HB-594]
[Finance ]
[Technology and Innovation ]
[Consumer Protection ]
Markets and Trading Reorganization Act This bill establishes the Securities and Derivatives Commission as an independent regulatory body and transfers to the commission all functions, officers, and components of the Commodity Futures Trading Commission and the Securities and Exchange Commission. The new commission shall establish the following principal divisions: (1) a Markets and Trading Division that has oversight of market conduct and utilities, the conduct of market professionals, and self-regulatory organizations with regard to such market
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Sponsored by: Rep. Michael Capuano
Referred To The Subcommittee On Commodity Exchanges, Energy, And Credit. on 02/13/2017
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Firearms Manufacturers and Dealers Protection Act of 2017 [S.159]
[Firearms/Gun Control ]
[Finance ]
[Law Enforcement ]
[Public Safety ]
Firearms Manufacturers and Dealers Protection Act of 2017 This bill prohibits the Federal Deposit Insurance Corporation, the Department of Justice, or any other federal agency from using funds to carry out Operation Choke Point or any other program designed to discourage financial institutions from providing credit to, or processing payments for, dealers and manufacturers of firearms and ammunition.
Sponsored by: Sen. Marco Rubio
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 01/17/2017
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Social Impact Partnerships to Pay for Results Act [HB-576]
[Budget and Spending ]
[Children and Youth ]
[Funding ]
[Grants ]
[Human Services ]
[Labor, Jobs, Employment ]
[Poverty ]
[Social Security ]
Social Impact Partnerships to Pay for Results Act This bill allows the Department of the Treasury to enter into agreements with state and local governments for social-impact partnership projects for which federal funds shall be awarded only if a project achieves certain agreed-upon outcomes resulting in both social benefit and federal, state, or local savings. In carrying out these agreements, Treasury must consult with the Federal Interagency Council on Social Impact Partnerships and the Commission on Social Impact Partnerships (both newly established
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Sponsored by: Rep. Earl Blumenauer
Referred To The Subcommittee On Human Resources. on 02/01/2017
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Subsidy Reserve Act of 2017 [HB-493]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
Subsidy Reserve Act of 2017 This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to require each nonbank financial company supervised by the Federal Reserve Board (FRB) and each bank holding company with total consolidated assets of at least $500 billion to establish and maintain a capital account called a "subsidy reserve." The amount in a company's subsidy reserve shall be based, according to a formula established by the FRB, on the financial benefit received by the company as a result of the expectation of shareholders,
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Sponsored by: Rep. Michael Capuano
Introduced In House on 01/12/2017
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Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 [HB-477]
[Finance ]
[Small Business ]
[Consumer Protection ]
[Economic Development ]
Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act of 2017 (Sec. 2) This bill amends the Securities Exchange Act of 1934 to exempt from that Act's registration requirements merger-and-acquisition brokers that facilitate transfer of ownership in privately held companies with earnings or revenues under a specified threshold. This exemption shall not apply, however, to brokers that: receive, hold, transmit, or have custody of funds or securities to be exchanged by parties to an ownership transfer; engage on behalf of an issuer
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Sponsored by: Rep. David Young
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 12/11/2017
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Futures Investor Protection Act [HB-316]
[Finance ]
[Consumer Protection ]
[Investments ]
Futures Investor Protection Act This bill establishes the Futures Investor Protection Corporation (FIPC) as a nonprofit membership corporation for all futures commission merchants registered with the Commodity Futures Trading Commission (CFTC). In general, the FIPC's powers and duties shall mirror those of the Security Investors Protection Corporation (the nonprofit membership corporation for registered broker-dealers). In addition, the bill amends the Commodity Exchange Act to establish suitability rules with respect to recommendations by a futures
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Sponsored by: Rep. Michael Capuano
Referred To The Subcommittee On Commodity Exchanges, Energy, And Credit. on 01/26/2017
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Keep Repos to Maturity on Balance Sheet Act of 2017 [HB-317]
[Finance ]
[Investments ]
Keep Repos to Maturity on Balance Sheet Act of 2017 This bill requires the Securities and Exchange Commission, in establishing accounting principles or standards for purposes of the securities laws, to require that a repurchase-to-maturity transaction be treated as a secured borrowing in which the transferred asset serves as collateral. A "repurchase-to-maturity transaction" is one in which: (1) a financial asset is transferred in exchange for cash, other financial assets, or letters of credit; and (2) the transferor and transferee agree that the
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Sponsored by: Rep. Michael Capuano
Introduced In House on 01/05/2017
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Commodity End-User Relief Act [HB-238]
[Finance ]
[Trade ]
[Consumer Protection ]
Commodity End-User Relief Act This bill reauthorizes through FY2021, and otherwise revises provisions related to, operations of the Commodity Futures Trading Commission (CFTC). The CFTC is authorized to require that certain property of the bankruptcy estate of a commodity broker who is a debtor in Chapter 7 bankruptcy (also known as "liquidation" bankruptcy) be included in customer property to the extent that such property is insufficient to satisfy the net equity claims of the broker's public customers. Before promulgating a regulation or issuing
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Sponsored by: Rep. David Scott
Received In The Senate And Read Twice And Referred To The Committee On Agriculture, Nutrition, And Forestry. on 01/17/2017
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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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Puerto Rico Task Force Economic Empowerment Act of 2017 [HB-2429]
[Small Business ]
[Economic Development ]
[Healthcare ]
[Pharmaceuticals ]
[Veterans ]
[Technology and Innovation ]
[Labor, Jobs, Employment ]
[Social Security ]
[Funding ]
[Grants ]
[Investments ]
[Overdose Prevention ]
Puerto Rico Task Force Economic Empowerment Act of 2017 Puerto Rico Opportunity, Small Business Prosperity, and Economic Revitalization Act of 2017 This bill amends the Small Business Act to modify requirements for the microloan program for Puerto Rico small businesses and increase access to capital for such program. The Small Business Administration shall establish: (1) a Veteran Business Outreach Center in Puerto Rico, and (2) a temporary Federal and State Technology (FAST) grant program to provide assistance to Puerto Rico businesses. The bill
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Sponsored by: Rep. Adriano Espaillat
Referred To The Subcommittee On Health. on 05/22/2017
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Main Street Regulatory Fairness Act [S.1139]
[Finance ]
[Small Business ]
[Economic Development ]
Main Street Regulatory Fairness Act This bill amends the Financial Stability Act of 2010 to increase, from $10 billion to $50 billion, the consolidated-assets threshold at which stress-testing requirements apply to certain financial companies. The bill also specifies that stress tests must be conducted periodically (rather than semiannually or annually, depending on the type of financial company, as required under current law).
Sponsored by: Sen. Claire McCaskill
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/16/2017
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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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Privacy Notification Technical Clarification Act [HB-2396]
[Consumer Protection ]
[Data Privacy ]
[Technology and Innovation ]
[Finance ]
Privacy Notification Technical Clarification Act (Sec. 2) This bill amends the Gramm-Leach-Bliley Act to exempt a vehicle financial company, under specified circumstances, from the requirement to annually disclose its privacy policies to consumers. A vehicle financial company shall be exempt from such requirement if: (1) the company has not changed its privacy policies since its last disclosure, (2) the current policy is available on its website and via mail, (3) notice is provided to customers regarding availability of the company's privacy policies,
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Sponsored by: Rep. Gregory Meeks
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 12/18/2017
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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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Capital Access for Small Business Banks Act [HB-2339]
[Finance ]
[Taxes ]
[Small Business ]
Capital Access for Small Business Banks Act This bill amends the Internal Revenue Code to allow a bank or a depository institution holding company which is an S corporation to: (1) have 500 shareholders (the current limit is 100 shareholders), and (2) issue qualified preferred bank stock. The bill makes a distribution of qualified preferred bank stock to a shareholder includible in the gross income of the shareholder and allows the bank or holding company to deduct the amount of such distribution.
Sponsored by: Rep. Lynn Jenkins
Introduced In House on 05/03/2017
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CLEAR Relief Act of 2017 Community Lending Enhancement and Regulatory Relief Act of 2017 [S.1002]
[Finance ]
[Consumer Protection ]
[Small Business ]
CLEAR Relief Act of 2017 Community Lending Enhancement and Regulatory Relief Act of 2017 This bill amends the Sarbanes-Oxley Act of 2002 to exempt from specified reporting and attestation requirements a community bank with assets of $1 billion or less. The bill amends the Truth in Lending Act to exempt from certain escrow requirements and residential mortgage loan standards a residential mortgage loan held by a depository institution with assets of $10 billion or less. The bill further amends that Act, as well as the Consumer Protection Act of 2010,
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Sponsored by: Sen. Chuck Grassley
Committee On Banking, Housing, And Urban Affairs. Hearings Held. on 06/15/2017
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HOME Act Housing Opportunities Made Easier Act [HB-2255]
[Housing ]
[Small Business ]
[Senior Citizens ]
[Law Enforcement ]
[Consumer Protection ]
[Finance ]
HOME Act Housing Opportunities Made Easier Act TITLE I--HOUSING OPPORTUNITIES MADE EASIER (Sec. 101) This bill amends the Truth in Lending Act to deem mortgage appraisal services donated by a fee appraiser to an organization that is eligible to receive tax-deductible charitable contributions to be customary and reasonable. TITLE II--EXPANDING ACCESS TO CAPITAL FOR RURAL JOB CREATORS (Sec. 201) The bill amends the Securities Exchange Act of 1934 to require the Advocate for Small Business Capital Formation within the Securities and Exchange Commission
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Sponsored by: Sen. Kyrsten Sinema
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 01/30/2018
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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