Federal Reserve System
US Congress 112th Congress
Restoring America's Commitment to Consumers Act of 2012 [HB-4084]
[Consumer Protection ]
[Finance ]
Restoring America's Commitment to Consumers Act of 2012 - Amends the Truth in Lending Act to prohibit the annual percentage rate (APR) applicable to an extension of credit on a credit card account under an open end consumer credit plan from exceeding 16%. Includes in an APR any compensation fee (including a membership fee or an annual fee) for: (1) opening or maintaining the account; (2) granting an extension of credit; or (3) making available a line of credit. Authorizes the Board of Governors of the Federal Reserve System (Board) to make adjustments
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Sponsored by: Rep. Raul M. Grijalva
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 02/23/2012
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PASS Act of 2011 [HB-370]
[Finance ]
[Consumer Protection ]
[Senior Citizens ]
[Taxes ]
[Law Enforcement ]
[Public Safety ]
[Crime ]
Preventing Affinity Scams for Seniors Act of 2011 or PASS Act of 2011 - Defines "affinity scam" as a transaction in which a person trusted by a senior, such as a caregiver, relative, guardian, "new friend," or service provider, claims to share similar interests or values and establishes a relationship with the senior, then uses the relationship to defraud the senior. Requires each financial institution to: (1) educate its staff about affinity scams and how to identify transactions that may be part of an affinity scam, (2) train staff members on
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Sponsored by: Rep. Yvette D. Clarke
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 03/23/2011
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Financial Institutions Examination Fairness and Reform Act [HB-3461]
[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: Rep. Ted Poe
Subcommittee Hearings Held. on 02/01/2012
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To amend the Federal Reserve Act to replace the Federal Open Market Committee members representing the Federal Reserve banks with additional members appointed by the President, and for other purposes. [HB-3428]
[Agriculture ]
[Finance ]
[Labor, Jobs, Employment ]
Amends the Federal Reserve Act to replace the Federal Open Market Committee members representing the Federal Reserve banks with additional members appointed by the President, who shall give due regard to a fair representation of the financial, agricultural, industrial, commercial, consumer, and labor interests, and geographical diversity, of the United States.
Sponsored by: Rep. Barney Frank
Subcommittee Hearings Held. on 05/08/2012
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Consumer Debit Card Protection Act [HB-3156]
[Consumer Protection ]
[Finance ]
Consumer Debit Card Protection Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority granted the Consumer Financial Protection Board (CFPB) to prescribe regulations for interchange transaction (swipe) fees that an issuer may receive or charge in connection with an electronic debit transaction (EDT). Declares void, and without force or effect, any regulation or information collection which the Board of Governors of the Federal Reserve System (Board) may propose or prescribe pursuant to the Electronic Fund
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Sponsored by: Rep. Henry C. Johnson
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 10/21/2011
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National Emergency Employment Defense Act of 2011 [HB-2990]
[Defense ]
[Finance ]
[Infrastructure ]
[Budget and Spending ]
[Healthcare ]
[Social Security ]
[Education ]
[Funding ]
[Grants ]
[Pensions ]
[Public Health ]
National Emergency Employment Defense Act of 2011 - Replaces Federal Reserve notes with United States Money. Instructs the Secretary of the Treasury to originate United States Money to address any negative fund balances resulting from a shortfall in available government receipts to fund government appropriations. Subjects to criminal and civil penalties any person who creates or originates United States Money by lending against deposits through "fractional reserve banking." Prohibits borrowing by the Secretary or by any federal agency or department,
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Sponsored by: Rep. John Conyers
Subcommittee Hearings Held. on 05/08/2012
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Unfunded Mandates Accountability Act of 2011 [HB-2964]
[Budget and Spending ]
[Law Enforcement ]
[Taxes ]
[Finance ]
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
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Sponsored by: Rep. David P. Roe
Referred To The Subcommittee On Technology, Information Policy, Intergovernmental Relations And Procurement Reform . on 10/03/2011
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Neighborhood Preservation Act of 2011 [HB-2636]
[Housing ]
[Real Estate ]
[Finance ]
[Consumer Protection ]
Directs the federal banking agencies to jointly prescribe specified safety and soundness regulations, including minimum capital requirements for such institutions or affiliates. Permits extension of such a lease beyond five years if any federal or state law, including the Bank Holding Company Act of 1956, so permits. Applies this Act only to leases entered into during the three-year period beginning on the date of the enactment of this Act. Declares it is the intent of Congress that: (1) no permanent change in policy on leasing foreclosed property
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Sponsored by: Rep. Steve Cohen
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 08/22/2011
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To direct the Board of Governors of the Federal Reserve System to amend Regulation D to increase the transaction limits on passbook savings, statement savings, and money market deposit accounts. [HB-2251]
[Finance ]
[Consumer Protection ]
Directs the Board of Governors of the Federal Reserve System to amend "Regulation D" (Reserve Requirements of Depository Institutions) to revise the definition of "savings deposit" with respect to a passbook savings account, statement savings account, or a money market deposit account. Requires the Board to increase from 6 to 30 the number of transfers and withdrawals a depositor may make per calendar month (or statement cycle or similar period of at least four weeks) to another account of the depositor at the same institution or to a third party
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Sponsored by: Rep. Randy Neugebauer
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 07/19/2011
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Home Inspection Act of 2011 [HB-2191]
[Real Estate ]
[Consumer Protection ]
[Housing ]
[Finance ]
Home Inspection Act of 2011 - Directs the Bureau of Consumer Financial Protection (CFPB) of the Federal Reserve System to prescribe regulations to prohibit any lender from making any federally related mortgage loan under which a home inspection is conducted in connection with settlement of the mortgage loan unless the inspection is conducted by a home inspector licensed, certified, approved, or otherwise regulated by the inspector's home state or the state in which the real property is located. Amends the Real Estate Settlement Procedures Act of
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Sponsored by: Rep. Barbara Lee
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 07/19/2011
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To amend the Federal Deposit Insurance Act to replace the Director of the Bureau of Consumer Financial Protection with the Chairman of the Board of Governors of the Federal Reserve System as a member of the Board of Directors of the Federal Deposit Insurance Corporation. [HB-2081]
[Consumer Protection ]
[Finance ]
Amends the Federal Deposit Insurance Act to remove the Director of the Consumer Financial Protection Bureau (CFPB) from membership on the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and substitute the Chairman of the Board of Governors of the Federal Reserve System (or a designee).
Sponsored by: Sen. Shelley Moore Capito
Subcommittee Hearings Held. on 02/08/2012
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Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011 [HB-1783]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
[Insurance ]
[Law Enforcement ]
Foreclosure Fraud and Homeowner Abuse Prevention Act of 2011 - Amends the Trust Indenture Act of 1939 to include within its purview mortgage-backed securities and their servicers. Imposes upon each servicer of a mortgage-backed security a fiduciary duty, not waivable by an investor, to protect the economic interests of the investors as a whole in an asset-backed security. Provides for removal of an indenture trustee that is a servicer of mortgage-backed securities if at least 50% of the investors petition the court for such removal. Authorizes amendment
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Sponsored by: Rep. Earl Blumenauer
Referred To The House Committee On Financial Services. on 05/05/2011
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Home Construction Lending Regulatory Improvement Act of 2011 [HB-1755]
[Finance ]
[Real Estate ]
[Housing ]
[Construction ]
[Small Business ]
Home Construction Lending Regulatory Improvement Act of 2011 - Directs the appropriate federal banking agencies to initiate a coordinated 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) elimination of the 100% of bank capital measurement, (2) realistic market-based appraisals, and (3) a prohibition against compelling lenders to call or curtail loans in good standing. Prohibits a federal banking agency also from preventing
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Sponsored by: Rep. Ted Poe
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 07/19/2012
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Communities First Act [HB-1697]
[Finance ]
[Small Business ]
[Consumer Protection ]
[Agriculture ]
[Community Development ]
[Taxes ]
[Investments ]
Community Banks Serving Their Communities First Act or Communities First Act - Revises regulatory requirements for community banks, including through 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
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Sponsored by: Rep. Ted Poe
Subcommittee Hearings Held. on 11/16/2011
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Bureau of Consumer Financial Protection Transfer Clarification Act [HB-1667]
[Consumer Protection ]
[Finance ]
Bureau of Consumer Financial Protection Transfer Clarification Act - Amends the the Dodd-Frank Wall Street Reform and Consumer Protection Act to require the calendar date for the transfer of certain consumer financial protection functions from specified existing agencies to the Bureau of Consumer Financial Protection (CFPB) to be the later of: (1) the date that would have been designated, but for application of this Act, and (2) the date on which the Director of the Bureau is confirmed by the Senate.
Sponsored by: Sen. Shelley Moore Capito
Supplemental Report Filed By The Committee On Financial Services, H. Rept. 112-93, Part Ii. on 07/19/2011
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Bank Accessibility Act [HB-1662]
[Finance ]
[Community Development ]
[Consumer Protection ]
[Economic Development ]
Bank Accessibility Act - Amends the Community Reinvestment Act of 1977 with respect to the requirement that, in examining a financial institution, the appropriate federal financial supervisory agency assess and take into account the institution's record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. Requires the appropriate federal financial supervisory agency, in making such an assessment, to consider as factors: (1) the branch distribution of such institutions in low- to moderate-income communities;
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Sponsored by: Rep. Anthony D. Weiner
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 05/02/2011
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Bureau of Consumer Financial Protection Accountability Act [HB-1640]
[Finance ]
[Consumer Protection ]
[Budget and Spending ]
Bureau of Consumer Financial Protection Accountability Act - Amends the Consumer Financial Protection Act of 2010 to subject the Bureau of Consumer Financial Protection to regular appropriations. Repeals the requirement of an annual transfer to the Bureau of funds from the Board of Governors of the Federal Reserve System. Subjects the Bureau to the regular authorization, budget, and appropriations process of the Department of the Treasury. Repeals establishment of the Bureau of Consumer Financial Protection Fund. Replaces the authorization of appropriations
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Sponsored by: Rep. Bill Posey
Referred To The Subcommittee On Financial Institutions And Consumer Credit. on 05/02/2011
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Consumer Rental Purchase Agreement Act [HB-1588]
[Consumer Protection ]
[Finance ]
[Small Business ]
Consumer Rental Purchase Agreement Act - (Sec. 3) Amends the Consumer Credit Protection Act to prescribe consumer protection guidelines for rental-purchase transactions, including: (1) the determination of rental-purchase cost and a payment schedule; (2) disclosure requirements; (3) prohibitions against confessions of judgment, wage assignments, waiver of consumer claims or defenses, and other specified kinds of provisions; (4) furnishing of statements of account; (5) point-of-rental disclosures; and (6) clear and conspicuous rental-purchase advertising
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Sponsored by: Rep. Robert J. Wittman
Reported (amended) By The Committee On Financial Services. H. Rept. 112-565. on 06/29/2012
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Foreclosure Prevention and Sound Mortgage Servicing Act of 2011 [HB-1567]
[Real Estate ]
[Finance ]
[Housing ]
[Consumer Protection ]
[Law Enforcement ]
[Property Tax ]
Foreclosure Prevention and Sound Mortgage Servicing Act of 2011 - Amends the Real Estate Settlement Procedures Act of 1974 (RESPA) to require the mortgagee, upon default of a federally related mortgage loan secured by a lien on the borrower's principal residence, to engage in loss mitigation activities that provide for: (1) the long-term affordability of the loan, and (2) the maximum retention of home equity. Places upon the mortgagee of the senior lien on the residence the primary responsibility for such loss mitigation activities. Prohibits the
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Sponsored by: Rep. Emanuel Cleaver
Referred To The Subcommittee On Insurance, Housing And Community Opportunity. on 07/29/2011
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To amend the Federal Reserve Act to remove the representatives of the Federal Reserve banks from membership on the Federal Open Market Committee. [HB-1512]
[Finance ]
Amends the Federal Reserve Act to remove from Federal Open Market Committee membership the presidents or first vice presidents, as appropriate, of the Federal Reserve banks.
Sponsored by: Rep. Barney Frank
Referred To The Subcommittee On Domestic Monetary Policy And Technology. on 05/02/2011