Federal Reserve System

Federal
US Congress 112th Congress

A bill to prohibit taxpayer bailouts of fiscally irresponsible State and local governments. [S.184] [Budget and Spending ] [Finance ] [Taxes ] [Funding ]
Prohibits the use of federal funds to purchase or guarantee obligations of, issue lines of credit to or provide direct or indirect grants-and-aid to, any state, municipal, local, or county government which a nationally recognized statistical rating organization has determined has defaulted on its obligations or is likely to default, without such federal assistance. Prohibits the Secretary of the Treasury from using, directly or indirectly, general fund revenues or borrowed funds to purchase or guarantee any asset or obligation of any such state, (continued...)

  

Sponsored by: Sen. John Ensign Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 01/25/2011

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Federal
US Congress 112th Congress

Residential Mortgage Market Privatization and Standardization Act of 2011 [S.1834] [Finance ] [Real Estate ] [Housing ] [Insurance ] [Consumer Protection ] [Property Tax ]
Residential Mortgage Market Privatization and Standardization Act of 2011 - Amends the National Housing Act and the Federal Home Loan Mortgage Corporation Act to require the Director of the Federal Housing Finance Agency (FHFA) to begin reducing by at least 10% per year the percentage of the value of a trust certificate or other security that may be guaranteed by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs). Covers single-family or multifamily (continued...)

  

Sponsored by: Sen. Bob Corker Committee On Banking, Housing, And Urban Affairs. Hearings Held. Hearings Printed: S.hrg. 112-408. on 11/15/2011

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Federal
US Congress 112th Congress

Jobs Through Growth Act [S.1720] [Labor, Jobs, Employment ] [Finance ] [Taxes ] [Small Business ] [Consumer Protection ] [Energy ] [Environmental ] [Trade ] [Budget and Spending ] [Law Enforcement ] [Healthcare ] [Construction ] [Mining ] [Public Lands and National Parks ] [Air Quality ] [Water ] [Economic Development ] [Unemployment ] [National Security ] [Funding ] [Grants ] [Inflation ]
Jobs Through Growth Act - Expresses the sense of Congress that S.J. Res. 10 (a balanced budget amendment) should be passed and submitted to the states for ratification within 90 days after the enactment of this Act. Amends the Impoundment Control Act of 1974 to require the Office of Management and Budget (OMB) to transmit, within 45 calendar days after enactment of the funding in question, a message to Congress with specified information requesting any rescission the President proposes under the procedures in this Act. Prescribes requirements for (continued...)

  

Sponsored by: Sen. Chuck Grassley Read The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 203. on 10/18/2011

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Federal
US Congress 112th Congress

Financial Regulatory Responsibility Act of 2011 [S.1615] [Finance ] [Budget and Spending ] [Consumer Protection ] [Law Enforcement ] [Economic Development ]
Financial Regulatory Responsibility Act of 2011- Prohibits a federal financial regulatory agency from issuing notices of proposed or final rulemakings unless specified analyses have been included in them. Prohibits an agency from publishing a notice of final rulemaking if it determines that the quantified costs are greater than the quantified benefits. Requires an agency to make available on its public website sufficient information about the data, methodologies, and assumptions underlying its analyses so that its analytical results are capable (continued...)

  

Sponsored by: Sen. Richard C. Shelby Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 09/22/2011

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Federal
US Congress 112th Congress

Communities First Act [S.1600] [Agriculture ] [Finance ] [Small Business ] [Consumer Protection ] [Taxes ] [Community Development ] [Economic Development ]
Community Banks Serving Their Communities First Act or Communities First Act - Revises regulatory requirements for community banks, including amendments to: (1) the Federal Deposit Insurance Act to permit certain insured depository institutions to submit a short form report of condition, and (2) the Sarbanes-Oxley Act of 2002 to exempt certain small-sized depository institutions from the annual management assessment of internal controls requirements. Directs the Board of Governors of the Federal Reserve System (Federal Reserve Board) to publish (continued...)

  

Sponsored by: Sen. John Boozman Read Twice And Referred To The Committee On Finance. on 09/22/2011

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Federal
US Congress 112th Congress

Data Security Act of 2011 [S.1434] [Cybersecurity ] [Data Privacy ] [Technology and Innovation ] [Consumer Protection ] [Finance ] [Law Enforcement ] [Public Safety ]
Data Security Act of 2011 - Prescribes security procedures which an entity that maintains or communicates sensitive account or personal information must implement and enforce in order to protect the information from an unauthorized use likely to result in substantial harm or inconvenience to the consumer. Grants exclusive enforcement powers to specified federal regulatory agencies with oversight of financial institutions. Denies a private right of action, including a class action, regarding any act or practice regulated under this Act. Prohibits (continued...)

  

Sponsored by: Sen. Thomas R. Carper Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 07/28/2011

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Federal
US Congress 112th Congress

Unfunded Mandates Accountability Act of 2011 [S.1189] [Budget and Spending ] [Law Enforcement ] [Taxes ] [Small Business ] [Economic Development ]
Unfunded Mandates Accountability Act of 2011 - Amends the Unfunded Mandates Reform Act of 1995 to: (1) require regulatory impact analyses for rules that do not involve a legislative mandate and for final rules that do not have a prior notice of proposed rulemaking; (2) require federal agencies to prepare and publish in the Federal Register an initial and final regulatory impact analysis prior to promulgating any proposed or final rule that may have an annual effect on the economy of $100 million or more or that may result in the expenditure of $100 (continued...)

  

Sponsored by: Sen. Chuck Grassley Committee On Homeland Security And Governmental Affairs. Hearings Held. Hearings Printed: S.hrg. 112-220. on 07/20/2011

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Federal
US Congress 112th Congress

Inspector General Improvement Act of 2012 [HB-6723] [Defense ] [Environmental ] [Labor, Jobs, Employment ] [Healthcare ] [International ] [National Security ] [Law Enforcement ] [Education ] [Public Safety ]
Inspector General Improvement Act of 2012 - Requires the inspectors general of the following federal agencies, in addition to the other duties and responsibilities specified in the Inspector General Act of 1978, to supervise, direct, and control audit and investigative activities pertaining to programs and operations: U.S. Agency for International Development (USAID); Board of Governors of the Federal Reserve System; Department of Defense (DOD); Department of Education; Federal Labor Relations Authority (FLRA); Department of Health and Human (continued...)

  

Sponsored by: Rep. Jo Ann Emerson Referred To The House Committee On Oversight And Government Reform. on 12/31/2012

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Federal
US Congress 112th Congress

Financial Information Privacy Act of 2011 [HB-653] [Consumer Protection ] [Finance ] [Data Privacy ]
Financial Information Privacy Act of 2011 - Amends the Gramm-Leach-Bliley Act to require a financial institution, as a prerequisite to providing disclosures of a consumer's personal information to nonaffiliated third parties, to obtain the consumer's consent on an express consent form. Prohibits a financial institution, except in certain circumstances, from discriminating against a consumer or denying an otherwise qualified consumer a financial product or service, or from offering a financial product or service on less favorable terms and conditions, (continued...)

  

Sponsored by: Rep. Raul M. Grijalva Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 03/23/2011

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Federal
US Congress 112th Congress

U.S. Financial Services Global Viability Act [HB-6524] [Finance ] [International ] [Trade ]
U.S. Financial Services Global Viability Act - Amends the Bank Holding Company Act of 1956 to delay the effective date for prohibitions or the mandate for related rulemaking against proprietary trading by a banking entity and any equity, partnership, or other ownership interest of a banking entity in or sponsorship of hedge funds or private equity funds. (Currently the effective date of such prohibitions and the mandate to make related regulations is the earlier of 12 months after the date of the issuance of final rules or 2 years after the date (continued...)

  

Sponsored by: Rep. Peter T. King Referred To The House Committee On Financial Services. on 09/21/2012

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Federal
US Congress 112th Congress

Terminating the Expansion of Too-Big-To-Fail Act of 2012 [HB-6317] [Finance ] [Budget and Spending ] [Consumer Protection ] [Economic Development ]
Terminating the Expansion of Too-Big-To-Fail Act of 2012 - Amends the Financial Stability Act of 2010, title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the Federal Deposit Insurance Act, and the Federal Reserve Act to eliminate all supervision by the Board of Governors of the Federal Reserve System (Board) of domestic and foreign nonbank financial companies, including new or heightened standards and safeguards and minimum leverage capital requirements. Eliminates the duty of the Financial Stability Oversight (continued...)

  

Sponsored by: Rep. Scott Garrett Referred To The House Committee On Financial Services. on 08/02/2012

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Federal
US Congress 112th Congress

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 (continued...)

  

Sponsored by: Rep. Mike Coffman Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 10/01/2012

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Federal
US Congress 112th Congress

Federal Reserve Independence Act [HB-6023] [Finance ] [Budget and Spending ] [Law Enforcement ]
Federal Reserve Independence Act - Amends the Federal Reserve Act regarding class A membership on the board of directors of a Federal Reserve Bank to require the Board of Governors of the Federal Reserve System (Federal Reserve Board) to designate members from among persons who are not employed in any capacity by a stockholding bank. Requires the Federal Reserve Board to designate the class B members of such board of directors (class B members represent the public). Prohibits employees of any Federal Reserve Board-regulated entity from serving (continued...)

  

Sponsored by: Rep. Peter A. DeFazio Referred To The Subcommittee On Domestic Monetary Policy And Technology. on 10/01/2012

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US Congress 112th Congress

Safe, Accountable, Fair, and Efficient Banking Act of 2012 [HB-5714] [Finance ] [Insurance ] [Budget and Spending ] [Small Business ] [Investments ] [Economic Development ]
Safe, Accountable, Fair, and Efficient Banking Act of 2012 or SAFE Banking Act of 2012 - Amends the Bank Holding Company Act of 1956 to prohibit a bank holding company from holding more than 10% of the total amount of deposits of insured depository institutions in the United States. Directs the Board of Governors of the Federal Reserve System (Board) to require any bank holding company having a deposit concentration in violation of specified interstate banking requirements to sell or transfer liabilities to unaffiliated firms to bring the company (continued...)

  

Sponsored by: Rep. Michael E. Capuano Referred To The Subcommittee On Insurance, Housing And Community Opportunity. on 10/01/2012

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Federal
US Congress 112th Congress

Consumer Financial Protection Oversight Act of 2011 [HB-557] [Consumer Protection ] [Finance ]
Consumer Financial Protection Oversight Act of 2011 - Amends the Consumer Financial Protection Act of 2010 to transfer to the Department of the Treasury the Bureau of Consumer Financial Protection (CFPB) currently established as an independent bureau in the Federal Reserve System. Prohibits the Secretary of the Treasury from interfering with the autonomy granted the Bureau under such Act. Eliminates Bureau participation in both the Federal Reserve System Retirement Plan and in the Federal Reserve System Thrift Plan.

  

Sponsored by: Rep. Randy Neugebauer Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 03/23/2011

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US Congress 112th Congress

Save Our Neighborhoods Act of 2012 [HB-4848] [Housing ] [Real Estate ] [Consumer Protection ] [Finance ] [Law Enforcement ] [Property Tax ]
Save Our Neighborhoods Act of 2012 - Authorizes a mortgagor of a property subject to a federally related mortgage loan to file a motion before a court in the jurisdiction in which the property is located for an order to: (1) stay any foreclosure proceedings brought against the property; (2) remain in effect for up to three years; (3) prohibit the assessment or collection of any late fees regarding payments on such loan; (4) toll the statute of limitations for any other applicable laws pertaining to such loan; (5) require the mortgagor to make payments (continued...)

  

Sponsored by: Rep. Raul M. Grijalva Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 06/01/2012

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US Congress 112th Congress

Federal Reserve Transparency Act of 2012 [HB-459] [Finance ] [Budget and Spending ] [Consumer Protection ] [Housing ] [Law Enforcement ]
Federal Reserve Transparency Act of 2012 - Directs the Comptroller General to: (1) complete, within 12 months of enactment of this Act, the required audit of the Board of Governors of the Federal Reserve System (Board) and of the Federal Reserve Banks; and (2) submit to Congress, within 90 days of audit completion, a detailed report of audit findings and conclusions. Repeals certain limitations placed upon such audit. Instructs the Comptroller General to audit and report on the review of loan files of homeowners in foreclosure in 2009 or 2010, required (continued...)

  

Sponsored by: Rep. Ted Poe Read The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 580. on 01/01/2013

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Federal
US Congress 112th Congress

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 (continued...)

  

Sponsored by: Rep. Eddie Bernice Johnson Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 04/26/2012

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Federal
US Congress 112th Congress

Mutual Community Bank Competitive Equality Act [HB-4217] [Finance ] [Small Business ] [Investments ]
Mutual Community Bank Competitive Equality Act - Amends the Revised Statutes of the United States to authorize the Comptroller of the Currency to charter mutual national banks either de novo or through a conversion of any insured depository institution or any state mutual bank or credit union. Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue Mutual Investment Certificates, to be included as Tier 1 capital for purposes of any capital standards issued by an appropriate federal banking agency. Amends the Home Owners' (continued...)

  

Sponsored by: Rep. Peter T. King Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 04/26/2012

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US Congress 112th Congress

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 (continued...)

  

Sponsored by: Sen. Jeff Flake Subcommittee Hearings Held. on 05/08/2012

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