Credit And Credit Markets
US Congress 112th Congress
A bill to amend the Federal Credit Union Act, to advance the ability of credit unions to promote small business growth and economic development opportunities, and for other purposes. [S.2231]
[Finance ]
[Small Business ]
[Economic Development ]
Small Business Lending Enhancement Act of 2012 - Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union. Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would
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Sponsored by: Sen. Jack Reed
Read The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 340. on 03/26/2012
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Financial Institutions Examination Fairness and Reform Act [S.2160]
[Finance ]
[Consumer Protection ]
[Investments ]
Financial Institutions Examination Fairness and Reform Act - Amends the Federal Financial Institutions Examination Council Act of 1978 to require a federal financial institutions regulatory agency to make a final examination report to a financial institution within 60 days of the later of: (1) the exit interview for an examination of the institution, or (2) the provision of additional information by the institution relating to the examination. Sets a deadline for the exit interview if a financial institution is not subject to a resident examiner
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Sponsored by: Sen. Susan Collins
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/06/2012
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Home Building Lending Improvement Act of 2012 [S.2078]
[Finance ]
[Real Estate ]
[Housing ]
[Construction ]
[Law Enforcement ]
Home Building Lending Improvement Act of 2012 - Directs each of the appropriate federal banking agencies to initiate guidance or rulemaking with respect to financial institutions under their respective jurisdictions that make real estate loans to home builders. Requires such rulemaking to provide for: (1) adjustment from 100% to 125% of bank capital the measurement that triggers additional scrutiny on real estate loans in the lending portfolio of any qualified financial institution, (2) a prohibition against compelling lenders to call loans in good
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Sponsored by: Sen. Robert Menendez
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 02/07/2012
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CUT Loopholes Act [S.2075]
[Finance ]
[Taxes ]
[International ]
[Small Business ]
[Cybersecurity ]
[Law Enforcement ]
[National Security ]
[Trade ]
[Budget and Spending ]
[Economic Development ]
[Crime ]
Cut Unjustified Tax Loopholes Act or the CUT Loopholes Act - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of primary money laundering concern or that impede U.S. tax enforcement. Amends the Internal Revenue Code to: (1) establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act; (2) treat certain foreign corporations
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Sponsored by: Sen. Sheldon Whitehouse
Sponsor Introductory Remarks On Measure. (cr S389-390) on 02/07/2012
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Small Business Disaster Assistance Act of 2011 [S.1709]
[Small Business ]
[Disaster Relief ]
[Funding ]
[Grants ]
[Budget and Spending ]
[Economic Development ]
Small Business Disaster Assistance Act of 2011 - Reduces temporarily, through September 30, 2014, the interest rate on the federal share of certain Small Business Administration (SBA) disaster loans (to repair, rehabilitate, replace, or refinance property damaged or destroyed by or as a result of a natural or other disaster) made to businesses on or after August 26, 2011. Sets forth temporary rates of: (1) 1% per year, in the case of a business concern unable to obtain credit elsewhere; and (2) 3% per year, in the case of a business concern able
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Sponsored by: Sen. Robert Casey
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 10/13/2011
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Empowering Parents through Quality Charter Schools Act [S.1566]
[Education ]
[Funding ]
[Grants ]
[Children and Youth ]
Empowering Parents through Quality Charter Schools Act - Amends part B (Public Charter Schools) of title V of the Elementary and Secondary Education Act of 1965 to revise subpart 1 (Charter School Programs) and subsume subpart 2 (Credit Enhancement Initiatives to Assist Charter School Facility Acquisition, Construction, and Renovation) under subpart 1. (Under subpart 2 the Secretary of Education awards grants to public entities and private nonprofit entities to demonstrate innovative means of enhancing credit to finance the acquisition, construction,
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Sponsored by: Sen. John McCain
Read Twice And Referred To The Committee On Health, Education, Labor, And Pensions. on 09/15/2011
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Syria Sanctions Act of 2011 [S.1472]
[International ]
[Trade ]
[National Security ]
[Energy ]
[Defense ]
Syria Sanctions Act of 2011 - Directs the President to impose three or more sanctions on a person that knowingly: (1) makes an investment of at least $20 million that contributes to Syria's ability to develop petroleum resources; (2) makes a combination of such investments in a 12-month period if each is of at least $5 million and they equal or exceed $20 million in the aggregate; or (3) sells, leases, or provides to Syria goods, services, technology, information, or support, any of which has a fair market value of at least $1 million or that during
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Sponsored by: Sen. John McCain
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 08/02/2011
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Stop Tax Haven Abuse Act [S.1346]
[Finance ]
[Taxes ]
[Law Enforcement ]
[Cybersecurity ]
[National Security ]
[Small Business ]
[Consumer Protection ]
[Investments ]
[Crime ]
Stop Tax Haven Abuse Act - Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of prime money laundering concern or that impede U.S. tax enforcement. Amends the Internal Revenue Code to: (1) establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act (FATCA), (2) treat certain foreign corporations managed and controlled primarily
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Sponsored by: Sen. Bernard Sanders
Sponsor Introductory Remarks On Measure. (cr S4518-4527) on 07/12/2011
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REAL Act of 2011 [S.1126]
[Energy ]
[Housing ]
[Real Estate ]
[Consumer Protection ]
[Climate Change ]
[Budget and Spending ]
Renewable Energy Access Through Leasing Act of 2011 or the REAL Act of 2011- Amends the Energy Independence and Security Act of 2007 to authorize the Secretary of Housing and Urban Development (HUD) to make loan guarantees for the financing of renewable energy systems leased for residential use. Prohibits the Secretary from insuring a loan unless the renewable energy system owner certifies that the systems financed will be leased only to homeowners that grant easements to install, maintain, use and otherwise access the system that include the right
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Sponsored by: Sen. Sheldon Whitehouse
Sponsor Introductory Remarks On Measure. (cr S3442) on 05/26/2011
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Credible Ratings Act of 2012 [HB-6512]
[Finance ]
[Consumer Protection ]
Credible Ratings Act of 2012 - Amends the Securities Exchange Act of 1934 to require the annual internal controls report of each nationally recognized statistical rating organization (NRSRO) to the Securities and Exchange Commission (SEC) to contain a certification that the NRSRO monitors the credit ratings it issues, at least quarterly, in order to ensure that they are as accurate as possible based upon the NRSRO's procedures and methodologies as furnished to the SEC.
Sponsored by: Rep. Michael Fitzpatrick
Referred To The Subcommittee On Capital Markets And Government Sponsored Enterprises. on 10/23/2012
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Know Before You Owe Private Student Loan Act of 2012 [HB-6273]
[Student Loans ]
[Education ]
[Consumer Protection ]
[Funding ]
Know Before You Owe Private Student Loan Act of 2012 - Amends the Truth in Lending Act to require a lender, before issuing a private education loan for a student attending an institution of higher education (IHE), to obtain the IHE's certification of: (1) the student's enrollment status, (2) the student's cost of attendance, and (3) the difference between that cost and the student's estimated financial assistance. Eliminates the requirement that such lenders obtain a self-certification form from the private education loan applicant. Allows a lender
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Sponsored by: Rep. Janice Schakowsky
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 10/01/2012
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Consumer Credit Access, Innovation, and Modernization Act [HB-6139]
[Finance ]
[Consumer Protection ]
[Small Business ]
[Technology and Innovation ]
[Economic Development ]
Consumer Credit Access, Innovation, and Modernization Act - Directs the Comptroller of the Currency to charter qualified nondepository creditors known as National Consumer Credit Corporations (Credit Corporations) to offer financial products or services. Requires a qualified nondepository creditor seeking a federal charter to submit an application which includes in part: (1) a business plan for at least a three-year period with its primary business activities serving underserved consumers and small businesses; (2) a market demand forecast, the
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Sponsored by: Rep. Gregory Meeks
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 10/01/2012
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To amend the Federal Home Loan Bank Act to allow non-Federally insured credit unions to become members of a Federal Home Loan Bank. [HB-6105]
[Finance ]
[Housing ]
[Insurance ]
Amends the Federal Home Loan Bank Act to make a state credit union eligible for membership in the Federal Home Loan Bank system.
Sponsored by: Rep. Andre Carson
Referred To The Subcommittee On Capital Markets And Government Sponsored Enterprises. on 10/01/2012
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Small Business Lending for Jobs Act of 2012 [HB-6037]
[Finance ]
[Labor, Jobs, Employment ]
[Real Estate ]
[Small Business ]
[Economic Development ]
Small Business Lending for Jobs Act of 2012 - Directs federal banking agencies to focus upon: (1) facilitating credit availability to customers of insured depository institutions, and (2) using regulatory policies and procedures that promote credit availability in a safe and sound manner in order to assist insured depository institutions to provide such credit and thus encourage business development and employment. Prohibits federal banking agencies from requiring or pressuring insured depository institutions to provide particular kinds of credit
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Sponsored by: Rep. Mike Coffman
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 10/01/2012
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National Financial Literacy Act of 2012 [HB-4394]
[Finance ]
[Taxes ]
[Small Business ]
[Consumer Protection ]
[Education ]
[Labor, Jobs, Employment ]
[Community Development ]
[Funding ]
[Grants ]
National Financial Literacy Act of 2012 - 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
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Sponsored by: Rep. Eddie Johnson
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 04/26/2012
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Restore Main Street's Credit Act of 2012 [HB-4293]
[Finance ]
[Small Business ]
[Labor, Jobs, Employment ]
[Community Development ]
[Economic Development ]
Restore Main Street's Credit Act of 2012 - Amends the Federal Credit Union Act to exclude from the definition of "member business loan" (and related loan limits) an extension of credit made to a Main Street business (an organization, other than a nonprofit organization, with 20 or fewer full-time employees that possesses, occupies, or leases property other than a home for its business's operations). Instructs the National Credit Union Administration Board (NCUAB) to issue guidelines for extensions of credit made by an insured credit union to a Main
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Sponsored by: Rep. Earl Blumenauer
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 04/26/2012
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Credit Union Small Business Lending Act [HB-4191]
[Finance ]
[Small Business ]
[Labor, Jobs, Employment ]
[Economic Development ]
[Funding ]
[Grants ]
Credit Union Small Business Lending Act - Directs the Administrator of the Small Business Administration (SBA) to establish a dedicated process by which credit unions participating in a certain small business loan program may receive approvals and repurchases concerning program loan guarantees. Requires such process to: (1) be distinct from that used by participating non-credit unions, and (2) make use of existing agency resources. Amends the Small Business Act to direct the SBA Administrator to implement a program to: (1) provide outreach and
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Sponsored by: Rep. Steve Chabot
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 04/26/2012
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Sound Dollar Act of 2012 [HB-4180]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
Sound Dollar Act of 2012 - Amends the Federal Reserve Act (FRA) to direct the Board of Governors of the Federal Reserve System (Board) and the Federal Open Market Committee (FOMC) to: (1) promote the goal of long-term price stability, and (2) establish metrics to evaluate whether long-term price stability is being achieved. Prescribes procedures for the establishment and evaluation of such metrics. Directs the Board and the FOMC to: (1) make such information available to the public on a website, and (2) report to Congress each time such metrics
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Sponsored by: Sen. Jeff Flake
Subcommittee Hearings Held. on 05/08/2012
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US Congress 112th Congress
Iran Financial Sanctions Improvement Act of 2012 [HB-4179]
[Finance ]
[International ]
[Trade ]
[National Security ]
Iran Financial Sanctions Improvement Act of 2012 - Directs the Comptroller General to submit to Congress a list of all known entities that provide services to, or facilitate service access for, the Central Bank of Iran or any Iranian financial institution. Directs the Secretary of the Treasury to report to Congress on efforts to ensure that the Society for Worldwide Interbank Financial Telecommunication (SWIFT), Clearstream, and other similar entities have terminated the provision of services to, and the facilitation of service access for, the
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Sponsored by: Rep. Brad Sherman
Referred To The Subcommittee On International Monetary Policy And Trade. on 04/26/2012
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Encouraging Innovation and Effective Teachers Act [HB-3990]
[Education ]
[Funding ]
[Grants ]
[Budget and Spending ]
[Children and Youth ]
Encouraging Innovation and Effective Teachers Act - (Sec. 6) Authorizes appropriations for FY2013 under titles II, III, and IV of the Elementary and Secondary Education Act of 1965 (ESEA), as amended by this Act. Matches increases in those amounts for FY2014-FY2018 to increases in the inflation rate. Title I: Teacher Preparation and Effectiveness - (Sec. 101) Replaces title II (Preparing, Training, and Recruiting High Quality Teachers and Principals) of the Elementary and Secondary Education Act of 1965 (ESEA) with a new title II (Teacher Preparation
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Sponsored by: Rep. David Roe
Reported (amended) By The Committee On Education And The Workforce. H. Rept. 112-459, Part I. on 04/27/2012