Credit And Credit Markets
US Congress 114th Congress
Seller Finance Enhancement Act [HB-5301]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
[Small Business ]
[Insurance ]
[Property Tax ]
Seller Finance Enhancement Act This bill amends the S.A.F.E. Mortgage Licensing Act of 2008 to exempt from certain licensing and registration requirements any person (other than a depository institution) who: (1) originates not more than 24 residential mortgage loans in a 12-month period, and (2) only originates residential mortgage loans for property owned by that person. For determining whether a residential mortgage loan meets minimum standards, the Truth in Lending Act is amended to prohibit the application to loans originated by such a person
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Sponsored by: Rep. Bobby Rush
Introduced In House on 05/19/2016
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PROMESA Puerto Rico Oversight, Management, and Economic Stability Act [HB-5278]
[Budget and Spending ]
[Economic Development ]
[Funding ]
[Grants ]
[Infrastructure ]
[Labor, Jobs, Employment ]
[Pensions ]
[Small Business ]
[Taxes ]
[Trade ]
[Law Enforcement ]
PROMESA Puerto Rico Oversight, Management, and Economic Stability Act This bill addresses Puerto Rico's debt by establishing an oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects. (Sec. 2) The effective date of this bill is the date of enactment. Title III (Adjustments of Debts) only applies to cases commenced under it on or after the date of enactment. Titles III and VI (Creditor Collective Action) apply to all debts, claims, and liens, regardless of the creation date. (Sec.
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Sponsored by: Rep. F. James Sensenbrenner
Received In The Senate And Read Twice And Referred To The Committee On Energy And Natural Resources. on 06/13/2016
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Small Business Credit Card Act of 2016 [HB-5156]
[Small Business ]
[Consumer Protection ]
[Finance ]
[Labor, Jobs, Employment ]
Small Business Credit Card Act of 2016 This bill 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). The bill 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
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Sponsored by: Rep. Nita Lowey
Introduced In House on 04/29/2016
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Jumpstart HOUSE Act of 2016 Jumpstart Housing Opportunities Utilizing Small Enterprises Act of 2016 [HB-5144]
[Housing ]
[Small Business ]
[Finance ]
[Community Development ]
[Construction ]
[Budget and Spending ]
[Economic Development ]
Jumpstart HOUSE Act of 2016 Jumpstart Housing Opportunities Utilizing Small Enterprises Act of 2016 This bill amends the State Small Business Credit Initiative Act of 2010 to extend for an additional eight fiscal years the State Small Business Credit Initiative to assist participating states to give collateral support and other innovative credit access and guarantee initiatives for small businesses and manufacturers. The bill also prescribes allocations of federal funds to participating states. The Department of the Treasury may award, on a competitive
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Sponsored by: Rep. Joyce Beatty
Introduced In House on 04/29/2016
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Investing in America's Small Businesses Act of 2016 [HB-5113]
[Small Business ]
[Finance ]
[Community Development ]
[Funding ]
[Grants ]
[Economic Development ]
Investing in America's Small Businesses Act of 2016 This bill amends the Community Development Banking and Financial Institutions Act of 1994 to require the Community Development Financial Institutions Fund to make grants to community development financial institutions to enable such institutions to establish a loan-loss reserve fund to defray the costs of a small business loan program. The bill defines "small business loan program" as a program in which a community development financial institution offers loans to small businesses that: (1) are
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Sponsored by: Rep. Henry Johnson
Introduced In House on 04/28/2016
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PROMESA Puerto Rico Oversight, Management, and Economic Stability Act [HB-4900]
[Budget and Spending ]
[Economic Development ]
[Finance ]
[Funding ]
[Infrastructure ]
[Law Enforcement ]
[Public Safety ]
[Real Estate ]
[Taxes ]
[Community Development ]
PROMESA Puerto Rico Oversight, Management, and Economic Stability Act This bill addresses Puerto Rico's debt by establishing an oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects. The bill establishes the Financial Oversight and Management Board to oversee the development of budgets and fiscal plans for Puerto Rico's instrumentalities and government. The board may issue subpoenas, certify voluntary agreements between creditors and debtors, seek judicial enforcement of its authority,
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Sponsored by: Rep. Sean Duffy
Referred To The Subcommittee On Regulatory Reform, Commercial And Antitrust Law. on 04/28/2016
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Preserving Access to CRE Capital Act of 2016 [HB-4620]
[Real Estate ]
[Finance ]
[Small Business ]
[Investments ]
Preserving Access to CRE Capital Act of 2016 (Sec. 2) This bill amends the Securities Exchange Act of 1934 concerning credit risk retention standards for commercial real estate loans to revise the optional standard that may include retention of the first-loss position by a third-party purchaser that specifically negotiates for the purchase of that first loss position, holds adequate financial resources to back losses, provides due diligence on all individual assets in the pool before issuance of the asset-backed securities, and meets the same standards
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Sponsored by: Rep. Luke Messer
Reported By The Committee On Financial Services. H. Rept. 114-597. on 05/26/2016
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To amend the Federal Home Loan Bank Act to provide investment authority to support rural infrastructure development, and for other purposes. [HB-4575]
[Infrastructure ]
[Community Development ]
[Economic Development ]
[Agriculture ]
[Funding ]
[Grants ]
To amend the Federal Home Loan Bank Act to provide investment authority to support rural infrastructure development, and for other purposes. This bill amends the Federal Home Loan Bank Act to authorize Federal Home Loan Banks to make investments related to rural infrastructure development. Federal Home Loan Banks may purchase investment-grade securities from nonmember lenders that are organized as cooperatives, have received financing from the Federal Financing Bank, and have experience providing loans to cooperatives eligible to receive loans from
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Sponsored by: Rep. David Scott
Introduced In House on 02/12/2016
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Consumer Protection and Choice Act [HB-4018]
[Consumer Protection ]
[Finance ]
Consumer Protection and Choice Act This bill amends the Truth in Lending Act to prohibit a deferred presentment transaction except as provided under this Act. A "deferred presentment transaction" is one in which currency or other payment is provided to a consumer in exchange for a consumer's check or other payment instrument and an agreement that such check or payment instrument shall be held for a deferment period prior to presentment, deposit, or redemption. If the Consumer Financial Protection Bureau (CFPB) determines that a state has in effect
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Sponsored by: Rep. Kathy Castor
Introduced In House on 11/16/2015
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Small Business Administration Franchise Loan Transparency Act of 2015 [HB-3559]
[Small Business ]
[Consumer Protection ]
[Finance ]
[Labor, Jobs, Employment ]
[Trade ]
[Economic Development ]
Small Business Administration Franchise Loan Transparency Act of 2015 This bill requires a franchisor, except one with a franchise in the lodging industry, to disclose in the required Federal Trade Commission disclosure document: the average first-year revenue for all franchise locations for each of the preceding five years of operation; the number of franchise locations that went out of business or were sold by the franchisee during the first year of operation for each such period; and the average revenues for all locations of the franchise for
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Sponsored by: Rep. Raul Grijalva
Referred To The Subcommittee On Commerce, Manufacturing, And Trade. on 09/25/2015
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Small Business Administration Franchise Loan Transparency Act of 2015 [HB-3195]
[Small Business ]
[Consumer Protection ]
[Finance ]
[Labor, Jobs, Employment ]
[Economic Development ]
Small Business Administration Franchise Loan Transparency Act of 2015 This bill requires a franchisor, except one with a franchise in the lodging industry, to disclose in the required Federal Trade Commission disclosure document: the average first-year revenue of each specific location of the franchise for each of the preceding five years of operation; the number of franchise locations that went out of business or were sold by the franchisee during the first year of operation for each such period; and the average revenues for all locations of the
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Sponsored by: Rep. Keith Ellison
Referred To The Subcommittee On Commerce, Manufacturing, And Trade. on 07/24/2015
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To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes. [HB-3191]
[Budget and Spending ]
[Small Business ]
[Funding ]
[Grants ]
To amend the Consolidated and Further Continuing Appropriations Act, 2015 with respect to funding available for fiscal year 2015 for certain general business loans authorized under the Small Business Act, to amend the Small Business Act to modify loan limitations, and for other purposes. This bill amends the Consolidated and Further Continuing Appropriations Act, 2015 to increase from $18.75 billion to $23.5 billion the FY2015 funding available to the Small Business Administration (SBA) for general business loans authorized under section 7(a) of
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Sponsored by: Rep. Steve Chabot
Introduced In House on 07/23/2015
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National Disaster Tax Relief Act of 2015 [HB-3110]
[Taxes ]
[Disaster Relief ]
[Budget and Spending ]
[Small Business ]
[Housing ]
[Construction ]
[Community Development ]
[Funding ]
[Grants ]
[Economic Development ]
National Disaster Tax Relief Act of 2015 Amends the Internal Revenue Code to provide tax relief for disasters declared in 2012, 2013, 2014, and 2015 by: allowing an election to expense qualified disaster expenses (i.e., for the abatement of hazardous substances, removal of debris, demolition, and repair of business-related property); increasing the tax deduction for charitable contributions for disaster relief for individual and corporate taxpayers; allowing through 2015 the deduction of losses and net operating losses attributable to disasters;
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Sponsored by: Rep. Mike Quigley
Introduced In House on 07/16/2015
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Common Sense Economic Recovery Act of 2015 [HB-3109]
[Finance ]
[Investments ]
[Economic Development ]
Common Sense Economic Recovery Act of 2015 This bill cites circumstances under which, for purposes of determining capital requirements or measuring an insured depository institution's capital, such an institution may treat a non-accrual loan as an accrual loan. (Non-accrual [also known as non-performing or doubtful] loans are those on which interest is overdue and full collection of principal is uncertain, and so interest, if it has not been paid in over 90 days, cannot be credited to the bank's revenue account until it has actually been received.)
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Sponsored by: Rep. Bill Posey
Introduced In House on 07/16/2015
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Stop Tax Haven Abuse Act [HB-297]
[Finance ]
[Taxes ]
[International ]
[Trade ]
[Budget and Spending ]
[Small Business ]
[Law Enforcement ]
[National Security ]
[Cybersecurity ]
[Economic Development ]
[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 primary money laundering concern or that significantly impede U.S. tax enforcement. Amends the Internal Revenue Code to: expand reporting requirements for U.S. persons who hold an interest in a passive foreign investment company; establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under
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Sponsored by: Rep. Raul Grijalva
Introduced In House on 01/13/2015
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Sound Dollar Act of 2015 [HB-2913]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
[Taxes ]
[Economic Development ]
Sound Dollar Act of 2015 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) pursue 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 are
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Sponsored by: Rep. Rod Blum
Introduced In House on 06/25/2015
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Microloan Modernization Act of 2015 [HB-2670]
[Finance ]
[Small Business ]
[Funding ]
[Grants ]
[Economic Development ]
Microloan Modernization Act of 2015 (Sec. 2) This bill amends the Small Business Act with respect to the rule under the Small Business Administration (SBA) Microloan Program (assisting low-income individuals to start and operate a small business) that permits SBA-designated microloan intermediary lenders to expend up to 25% of the grant funds they receive from the SBA to provide information and technical assistance to small businesses that are their prospective borrowers. The SBA must establish a process by which these microloan intermediaries may
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Sponsored by: Rep. Judy Chu
Received In The Senate And Read Twice And Referred To The Committee On Small Business And Entrepreneurship. on 07/14/2015
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Bailout Prevention Act of 2015 [HB-2625]
[Finance ]
[Budget and Spending ]
Bailout Prevention Act of 2015 This bill amends the Federal Reserve Act, with respect to the discounting of obligations arising out of actual commercial transactions, to declare a borrower ineligible to borrow from any emergency lending program or facility unless the Board of Governors of the Federal Reserve System and all federal banking regulators with jurisdiction over the borrower certify that, at the time the borrower initially borrows under the program or facility, the borrower is not insolvent. A borrower shall be deemed insolvent for such
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Sponsored by: Rep. Michael Capuano
Introduced In House on 06/03/2015
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Too Big To Fail, Too Big To Exist Act [HB-2600]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
Too Big To Fail, Too Big To Exist Act This bill directs the Financial Stability Oversight Council to compile and submit to the Secretary of the Treasury a list of entities that the Council deems Too Big To Fail (List), including U.S. bank holding companies the Financial Stability Board has identified as systemically important banks. The Secretary of the Treasury shall: (1) submit the List to Congress and the President, and (2) break up entities on the List so that their failure would no longer cause a catastrophic effect upon the U.S. or global
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Sponsored by: Rep. Ted Lieu
Introduced In House on 06/01/2015
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Veterans Entrepreneurship Act of 2015 [HB-2499]
[Veterans ]
[Small Business ]
[Finance ]
[Funding ]
[Budget and Spending ]
[Labor, Jobs, Employment ]
[Economic Development ]
Veterans Entrepreneurship Act of 2015 (Sec. 2) Amends the Small Business Act to prohibit the Small Business Administration (SBA) from collecting a guarantee fee in connection with a loan made under the SBA Express Program to a veteran or the spouse of a veteran on or after October 1, 2015, except during any upcoming fiscal year for which the President's budget, submitted to Congress, includes a cost for the Program that is above zero. (Sec. 3) Requires the SBA to assess for Congress the level of outreach to and consultation with female veterans
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Sponsored by: Rep. Tom Rice
Became Public Law No: 114-38. (txt | Pdf) on 07/28/2015