Credit And Credit Markets
US Congress 111th Congress
A bill to establish the Small Business Information Security Task Force to address information security concerns relating to credit card data and other proprietary information. [S.1070]
[Small Business ]
[Cybersecurity ]
[Technology and Innovation ]
[Consumer Protection ]
[Data Privacy ]
[Economic Development ]
Directs the Administrator of the Small Business Administration (SBA) to establish the Small Business Information Security Task Force to address the information technology security needs of small businesses and to help small businesses prevent the loss of credit card data. Requires the Task Force, among other duties, to make recommendations to the Administrator on the establishment of an Internet website to be used by the SBA to receive and dispense information and resources with respect to such needs.
Sponsored by: Sen. Mary L. Landrieu
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 05/19/2009
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Expressing the sense of the House of Representatives that the Secretary of the Treasury and the Chairman of the Board of Governors of the Federal Reserve System should protect and enhance consumer and business access to credit by utilizing the provisions of the Federal Reserve Act and the Emergency Economic Stabilization Act of 2008, and reserving access to liquidity programs for those financial institutions that have maintained or increased lending activities since the height of our economic crisis in October 2008. [HR-553]
[Finance ]
[Consumer Protection ]
[Small Business ]
[Economic Development ]
Expresses the sense of the House of Representatives that the Secretary of the Treasury and the Chairman of the Board of Governors of the Federal Reserve System should: (1) protect and enhance American consumers' and businesses' access to credit; (2) encourage credit card issuers, banks, and other creditors to recognize long-standing customers who are in good standing by not cutting their credit lines or raising their interest rates; and (3) reserve access to programs under the Federal Reserve Act and the Emergency Response Stabilization Act for
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Sponsored by: Rep. Lacy Clay
Referred To The House Committee On Financial Services. on 06/17/2009
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Financial Oversight Commission Act of 2009 [HB-74]
[Finance ]
[Housing ]
[Insurance ]
[Budget and Spending ]
[Consumer Protection ]
[Economic Development ]
[Law Enforcement ]
Financial Oversight Commission Act of 2009 - Establishes the Financial Oversight Commission to investigate the financial crisis of 2008, including relevant legislation, Executive Order, regulation, plan, policy, practice, or procedure that pertains to: (1) government sponsored enterprises; (2) the stock market; (3) the housing market; (4) credit rating agencies; (5) the financial services sector, including hedge funds, private equity and the insurance industry; and (6) the role of congressional oversight and resource allocation. Directs the Commission
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Sponsored by: Rep. Darrell E. Issa
Referred To The House Committee On Financial Services. on 01/06/2009
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Small Business Assistance and Relief Act of 2010 [HB-5554]
[Taxes ]
[Small Business ]
[Healthcare ]
[Manufacturing ]
[Disaster Relief ]
[Economic Development ]
[Funding ]
[Grants ]
[Technology and Innovation ]
[Energy ]
Small Business Assistance and Relief Act of 2010 - Expresses the sense of Congress that: (1) assistance should be made available to creditworthy small businesses that cannot obtain lending in the current environment; and (2) reforming Fannie Mae and Freddie Mac should be a top priority for Congress. Provides, with respect to small businesses: (1) an extension of specified tax provisions concerning deductions, credits, and income exclusion; and (2) a limit on the paperwork required to be submitted from a small business to federal agencies. Small
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Sponsored by: Sen. Shelley Moore Capito
Referred To The Committee On Small Business, And In Addition To The Committees On Ways And Means, Appropriations, Energy And Commerce, And 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 Committee Concerned. on 06/17/2010
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State Small Business Credit Initiative Act of 2010 [HB-5302]
[Small Business ]
[Finance ]
[Funding ]
[Grants ]
[Economic Development ]
[Labor, Jobs, Employment ]
State Small Business Credit Initiative Act of 2010 - Establishes a seven-year State Small Business Credit Initiative (Initiative), administered by the Secretary of the Interior to allocate federal funds to participating states with capital access programs. Prescribes eligibility criteria for state capital access programs providing portfolio insurance for business loans. Requires the portfolio insurance to be based on a separate loan-loss reserve fund for each financial institution, with: (1) premiums paid by the financial institution lenders and
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Sponsored by: Rep. Henry C. Johnson
Referred To The House Committee On Financial Services. on 05/13/2010
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Small Business Jobs Act of 2010 [HB-5297]
[Small Business ]
[Finance ]
[Taxes ]
[Trade ]
[Budget and Spending ]
[Economic Development ]
[Funding ]
[Grants ]
[Labor, Jobs, Employment ]
[Medicare and Medicaid ]
[Healthcare ]
[Retirement ]
[Insurance ]
[Manufacturing ]
[Veterans ]
[Community Development ]
[Investments ]
Small Business Jobs Act of 2010 - Title I: Small Businesses - Subtitle A: Small Business Access to Credit - Small Business Job Creation and Access to Capital Act of 2010 - Part I: Next Steps for Main Street Credit Availability - (Sec. 1111) Amends the Small Business Act to increase temporarily (until January 1, 2011) to 90% the maximum Small Business Administration (SBA) participation in a loan on a deferred basis under the section 7(a) (general small business loans) guaranteed loan program. Reduces SBA participation in a loan on a deferred basis,
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Sponsored by: Rep. Gregory W. Meeks
Signed By President. on 09/27/2010
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Small Business Lending Incentive Program Act of 2010 [HB-5277]
[Small Business ]
[Taxes ]
[Finance ]
[Economic Development ]
Small Business Lending Incentive Program Act of 2010 - Amends the Internal Revenue Code to allow certain small banks a business-related tax credit for 1% of the total amount of loans made to small business concerns. Limits the amount of any such small business loan to $500,000, and limits to 20 the number of such loans a bank may include in the calculation of its credit in any taxable year. Terminates such credit two years after the enactment of this Act.
Sponsored by: Rep. Charles A. Wilson
Referred To The House Committee On Ways And Means. on 05/11/2010
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Fair Access to Credit and Job Creation Act of 2010 [HB-5038]
[Finance ]
[Labor, Jobs, Employment ]
[Community Development ]
[Economic Development ]
[Small Business ]
Fair Access to Credit and Job Creation Act of 2010 - Repeals the Community Reinvestment Act of 1977.
Sponsored by: Rep. Doug Lamborn
Referred To The House Committee On Financial Services. on 04/15/2010
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Manufacturing Modernization and Diversification Act of 2010 [HB-4629]
[Manufacturing ]
[Small Business ]
[Finance ]
[Labor, Jobs, Employment ]
[Economic Development ]
Manufacturing Modernization and Diversification Act of 2010 - Directs the Secretary of the Treasury to certify special purpose vehicles (SPVs) created by a state to take part in a program to carry out collateral support and loan participation programs for the benefit of qualified manufacturers (manufacturers with less than $50 million in annual revenue and less than $50 million in assets). Outlines SPV application requirements. Allows, under the collateral support program, a qualified manufacturer that wishes to receive a bank loan but has insufficient
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Sponsored by: Rep. Marcia L. Fudge
Referred To The House Committee On Financial Services. on 02/22/2010
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To extend certain housing-related deadlines in the Heartland Disaster Tax Relief Act of 2008. [HB-4205]
[Housing ]
[Disaster Relief ]
[Taxes ]
[Retirement ]
Amends the Heartland Disaster Tax Relief Act of 2008 to extend through 2010 provisions of such Act allowing residents of the Midwestern disaster area to: (1) use amounts from tax-exempt retirement accounts without a tax penalty to purchase a new principal residence or repair an existing one; (2) recontribute amounts withdrawn for such purposes to such accounts; and (3) exclude from gross income income resulting from a cancellation of mortgage indebtedness incurred in such disaster area.
Sponsored by: Rep. David Loebsack
Referred To The House Committee On Ways And Means. on 12/03/2009
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Dodd-Frank Wall Street Reform and Consumer Protection Act [HB-4173]
[Finance ]
[Consumer Protection ]
[International ]
[Budget and Spending ]
[Insurance ]
[Technology and Innovation ]
[Trade ]
[Cybersecurity ]
[Data Privacy ]
[Economic Development ]
Dodd-Frank Wall Street Reform and Consumer Protection Act - Title I: Financial Stability - Financial Stability Act of 2010 - Subtitle A: Financial Stability Oversight Council - (Sec. 111) Establishes the Financial Stability Oversight Council (Council), consisting of the heads of specified federal financial regulatory bodies and chaired by the Secretary of the Treasury. (Sec. 112) Requires the Council, among other things, to: (1) identify risks to U.S. financial stability that could arise from the material financial distress or failure, or ongoing
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Sponsored by: Rep. Barney Frank
Signed By President. on 07/21/2010
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Financial Stability Improvement Act of 2009 [HB-3996]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
[Housing ]
[Real Estate ]
Financial Stability Improvement Act of 2009 - Establishes the Financial Services Oversight Council whose duties include: (1) monitoring the financial services marketplace to identify potential threats to the stability of the U.S. financial system; (2) resolving disputes among federal financial regulatory agencies; (3) subjecting identified financial companies and financial activities to heightened prudential standards in order to promote financial stability and mitigate systemic risk (in this Act referred to as "identified companies or identified
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Sponsored by: Rep. Barney Frank
Referred To The Subcommittee On General Farm Commodities And Risk Management. on 03/29/2010
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Accountability and Transparency in Rating Agencies Act [HB-3890]
[Finance ]
[Consumer Protection ]
[Law Enforcement ]
[Investments ]
Accountability and Transparency in Rating Agencies Act - (Sec. 2) Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to review credit ratings issued by each nationally recognized statistical rating organization (NRSRO) to ensure that the NRSRO has established and documented internal processes for determining credit ratings consistent with SEC rules. Requires each NRSRO to make available and maintain such records and information as the SEC may prescribe. Requires specified NRSRO disclosures about procedures
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Sponsored by: Rep. Michael E. Capuano
Committee On Judiciary Discharged. on 12/17/2010
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Small Business Financing and Investment Act of 2009 [HB-3854]
[Finance ]
[Small Business ]
[Budget and Spending ]
[Economic Development ]
[Funding ]
[Grants ]
[Healthcare ]
[Technology and Innovation ]
[Manufacturing ]
[Veterans ]
[Disaster Relief ]
[Labor, Jobs, Employment ]
Small Business Financing and Investment Act of 2009 - Title I: Small Business Lending Enhancements - (Sec. 101) Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to establish and carry out a program to provide support to SBA regional, district, and branch offices in assisting small lenders who do not participate in the SBA's Preferred Lenders Program to make SBA section 7(a) (general small business) loans. (Sec. 102) Directs the Administrator to carry out a rural lending outreach program to provide
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Sponsored by: Rep. Yvette D. Clarke
Received In The Senate And Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 11/02/2009
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Small Business Microlending Expansion Act of 2009 [HB-3737]
[Finance ]
[Small Business ]
[Funding ]
[Grants ]
[Economic Development ]
Small Business Microlending Expansion Act of 2009 - (Sec. 2) Amends the Small Business Act with respect to the Small Business Administration (SBA) Microloan program (small-scale loans to start-up, newly established, or growing small businesses for working capital or the acquisition of materials, supplies, or equipment) to direct the SBA Administrator to establish a process under which an intermediary making a Microloan loan provides relevant borrower information to the major credit reporting agencies. (Sec. 3) Removes the requirement that such loans
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Sponsored by: Sen. Peter Welch
Received In The Senate And Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 11/09/2009
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Small Business Credit Expansion and Loan Markets Stabilization Act of 2009 [HB-3723]
[Small Business ]
[Finance ]
[Veterans ]
[Real Estate ]
[Funding ]
[Grants ]
[Investments ]
[Economic Development ]
Small Business Credit Expansion and Loan Markets Stabilization Act of 2009 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to establish and carry out: (1) a program to provide support to SBA regional, district, and branch offices to assist small lenders not participating in the SBA Preferred Lenders Program to participate in other programs for assistance to small businesses under the SBA 7(a) general business loan program; (2) a rural lending outreach program; and (3) a lender training program
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Sponsored by: Rep. Rick Larsen
Provisions Of Measure Incorporated Into H.r. 3854. on 10/21/2009
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Senior Investment Protection Act of 2009 [HB-3551]
[Consumer Protection ]
[Finance ]
[Senior Citizens ]
[Law Enforcement ]
[Grants ]
[Crime ]
Senior Investment Protection Act of 2009 - Directs the Attorney General to establish a program of grants to states to: (1) investigate and prosecute misleading and fraudulent marketing practices; or (2) develop educational materials and training aimed at reducing misleading and fraudulent marketing of financial products toward seniors.
Sponsored by: Rep. Janice D. Schakowsky
Referred To The Subcommittee On Crime, Terrorism, And Homeland Security. on 01/04/2010
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Enable Divestment from Sudan and Iran Act of 2009 [HB-3516]
[Finance ]
[International ]
[Taxes ]
[Trade ]
[Energy ]
[Human Rights ]
[National Security ]
Enable Divestment from Sudan and Iran Act of 2009 - Amends the Internal Revenue Code to promote the divestment of investments in Iran or the Sudan by permitting the deferral of tax on gain from the sale of securities in any business that is engaged in certain discouraged activities in Iran or the Sudan if the holder of such securities purchases replacement securities from a business not engaged in such discouraged activities. Includes as discouraged activities in Iran: (1) investment of $20 million or more in the energy sector of Iran (i.e., petroleum,
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Sponsored by: Rep. Steve Cohen
Referred To The House Committee On Ways And Means. on 07/31/2009
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Small Business Credit Card Act of 2009 [HB-3457]
[Consumer Protection ]
[Finance ]
[Small Business ]
Small Business Credit Card Act of 2009 - Amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses). Defines "qualified small business" under the Act as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity; and (2) any credit transaction involving such account is for business or personal
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Sponsored by: Rep. Janice D. Schakowsky
Referred To The House Committee On Financial Services. on 07/31/2009
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Promoting Lending to America's Small Businesses Act of 2009 [HB-3380]
[Finance ]
[Small Business ]
[Labor, Jobs, Employment ]
[Agriculture ]
[Economic Development ]
Promoting Lending to America's Small Businesses Act of 2009 - Amends the Federal Credit Union Act to increase the total permissible amount of member business loans by an insured credit union (excluding those made to nonprofit religious organizations) to a limit of 25% of the credit union's total assets. Increases from $50,000 to $250,000 the maximum total extensions of credit a borrower or associated member of an insured credit union may have before any extension of credit shall be considered a member business loan. Revises the prohibition against
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Sponsored by: Rep. Ted Poe
Referred To The House Committee On Financial Services. on 07/29/2009