Federal Reserve System
US Congress 111th Congress
Credit Cardholders' Bill of Rights Act of 2009 [S.235]
[Consumer Protection ]
[Finance ]
Credit Cardholders' Bill of Rights Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from increasing any annual percentage rate of interest (APR) applicable to the existing balance on an open end credit card account unless specified conditions are met. Allows a creditor to increase an APR on the existing credit card balance only if the increase is due solely to one of three specified circumstances. Requires a 45-day advance notice of credit card account rate increases. Prohibits imposition of a finance charge, with certain exceptions,
(continued...)
Sponsored by: Sen. Kirsten E. Gillibrand
Sponsor Introductory Remarks On Measure. (cr S389-390) on 01/14/2009
Spread the world
Gettr US Congress 111th Congress
Credit Card Rate Freeze Act of 2009 [S.1927]
[Consumer Protection ]
[Finance ]
Credit Card Rate Freeze Act of 2009 - Prohibits a creditor, during a specified nine-month period, from: (1) increasing any annual percentage rate (APR), fee, or finance charge applicable to any outstanding balance of any credit card account under an open end consumer credit plan; or (2) changing the terms governing repayment of any outstanding balance, except as permitted by the Credit Card Accountability Responsibility and Disclosure Act of 2009. Authorizes the Board of Governors of the Federal Reserve System to prescribe implementing regulations.
Sponsored by: Sen. Jack Reed
Read The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 189. on 10/27/2009
Spread the world
US Congress 111th Congress
Federal Reserve Accountability Act of 2009 [S.1803]
[Finance ]
[Budget and Spending ]
[Taxes ]
[Consumer Protection ]
[Funding ]
Federal Reserve Accountability Act of 2009 - Authorizes the Comptroller General to conduct reviews of (including onsite examinations), and report to Congress on, the accounting, financial reporting, and internal controls of credit facilities established by the Board of Governors of the Federal Reserve System, or any Federal Reserve bank, including when such activities are implemented by or on behalf of the Board or any official of a Federal Reserve bank. Defines "credit facilities" as: (1) the Money Market Investor Funding Facility; (2) the Asset-Backed
(continued...)
Sponsored by: Sen. Lamar Alexander
Sponsor Introductory Remarks On Measure. (cr S10573) on 10/20/2009
Spread the world
US Congress 111th Congress
FAIR Overdraft Coverage Act [S.1799]
[Consumer Protection ]
[Finance ]
Fairness and Accountability in Receiving Overdraft Coverage Act of 2009 or FAIR Overdraft Coverage Act - Amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts or practices in connection with overdraft coverage, or in acts designed to evade the provisions of this Act. Requires each depository institution that provides overdraft coverage for transaction accounts to clearly and conspicuously disclose overdraft coverage fees. Subjects to the consumer's written, electronic, or other consent overdraft
(continued...)
Sponsored by: Sen. Jack Reed
Committee On Banking, Housing, And Urban Affairs. Hearings Held. on 11/17/2009
Spread the world
US Congress 111th Congress
Deceptive Loan Check Elimination Act [S.1595]
[Consumer Protection ]
[Finance ]
Deceptive Loan Check Elimination Act - Amends the Truth in Lending Act (TILA) to prohibit a person from extending any consumer credit through the use by the consumer of a check or other negotiable instrument sent by the creditor to solicit an extension of consumer credit, unless the consumer has requested it in writing. States that a nonnegotiable instrument that has the appearance of a negotiable instrument in connection with a solicitation for an extension of credit is not an application or request for purposes of this Act. Shields a consumer
(continued...)
Sponsored by: Sen. Sheldon Whitehouse
Sponsor Introductory Remarks On Measure. (cr S9004) on 08/06/2009
Spread the world
US Congress 111th Congress
Federal Reserve Credit Facility Review Act of 2009 [S.1457]
[Finance ]
[Budget and Spending ]
Federal Reserve Credit Facility Review Act of 2009 - Authorizes the Comptroller General to conduct reviews and onsite examinations of: (1) any credit facility established by the Federal Reserve Board or any federal reserve bank; and (2) such credit facility's establishment as the lender of last resort (including providing credit under enhancements to traditional lending facilities and credit facilities). Cites the credit facilities to which this Act applies. Grants the Comptroller General access to all records and property of any such credit facility,
(continued...)
Sponsored by: Sen. Susan M. Collins
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 07/15/2009
Spread the world
US Congress 111th Congress
Improved Financial and Commodity Markets Oversight and Accountability Act [S.1354]
[Finance ]
[Labor, Jobs, Employment ]
[Pensions ]
[Investments ]
[Budget and Spending ]
Improved Financial and Commodity Markets Oversight and Accountability Act - Amends the Inspector General Act of 1978 to include the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission (CFTC), the National Credit Union Administration (NCUA), the Pension Benefit Guaranty Corporation (PBGC), and the Securities and Exchange Commission (SEC) as establishments the Inspector Generals of which shall be appointed by the President. Applies existing pay requirements under the Inspector General Reform Act of 2008 to the
(continued...)
Sponsored by: Sen. Robert Menendez
Read Twice And Referred To The Committee On Homeland Security And Governmental Affairs. on 06/25/2009
Spread the world
US Congress 111th Congress
Expressing the sense of the House of Representatives that the Federal banking regulators should, with respect to well-managed community-based depository institutions, permit appropriate capital forbearance, troubled debt restructuring accounting practices, and other time-tested measures that would allow such institutions to continue to provide for the financial vitality for our Nation's small businesses and family farms. [HR-943]
[Finance ]
[Small Business ]
[Agriculture ]
[Economic Development ]
Expresses the sense of the House that all state and federal agencies which regulate community-based depository institutions should develop policies that permit such institutions that are well-managed to: (1) maintain capital temporarily at levels less than that currently required, conditioned upon regulatory approval of an appropriate plan to restore capital levels by a date certain; and (2) account temporarily for troubled debt restructuring in a manner which allows a loan to be carried on the institution's books without loss recognition if the
(continued...)
Sponsored by: Rep. Jared Polis
Referred To The House Committee On Financial Services. on 12/03/2009
Spread the world
US Congress 111th Congress
Improved Financial and Commodity Markets Oversight and Accountability Act [HB-885]
[Finance ]
[Budget and Spending ]
[Pensions ]
[Investments ]
[Labor, Jobs, Employment ]
Improved Financial and Commodity Markets Oversight and Accountability Act - Amends the Inspector General Act of 1978 to include the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission (CFTC), the National Credit Union Administration (NCUA), the Pension Benefit Guaranty Corporation (PBGC), and the Securities and Exchange Commission (SEC) as establishments the Inspector Generals of which shall be appointed by the President. Applies existing pay requirements under the Inspector General Reform Act of 2008 to the
(continued...)
Sponsored by: Rep. Gregory W. Meeks
Committee On Homeland Security And Governmental Affairs. Reported By Senator Lieberman With Amendments. Without Written Report. on 03/16/2010
Spread the world
US Congress 111th Congress
Credit Card Accountability Responsibility and Disclosure Act of 2009 [HB-627]
[Consumer Protection ]
[Finance ]
[Small Business ]
[Education ]
[Data Privacy ]
[Cybersecurity ]
[Law Enforcement ]
[National Security ]
[Firearms/Gun Control ]
[Public Lands and National Parks ]
Credit Card Accountability Responsibility and Disclosure Act of 2009 or the Credit CARD Act of 2009 - (Sec. 2) Authorizes the Board of Governors of the Federal Reserve System (Federal Reserve Board) to issue rules and publish model forms to implement this Act. (Sec. 3) Makes this Act effective nine months after its enactment. Title I: Consumer Protection - (Sec. 101) Amends the Truth in Lending Act (TILA), with respect to credit card accounts under an open end consumer credit plan, to require a creditor to provide written notice not later than
(continued...)
Sponsored by: Rep. Raul M. Grijalva
Signed By President. on 05/22/2009
Spread the world
US Congress 111th Congress
Electronic Check Parity Act of 2010 [HB-5199]
[Finance ]
[Consumer Protection ]
[Technology and Innovation ]
Electronic Check Parity Act of 2010 - Finds electronic debit transactions serve as a functional replacement for check transactions. Grants the Board of Governors of the Federal Reserve System authority to promulgate rules regarding any interchange transaction fee charged with respect to an electronic debit transaction. Permits the Board to exempt from such rules any financial institutions, including those regulated by the National Credit Union Administration (NCUA), that, together with affiliates, have assets of less than $1 billion. Amends the
(continued...)
Sponsored by: Sen. Peter Welch
Referred To The House Committee On Financial Services. on 05/04/2010
Spread the world
US Congress 111th Congress
Safe, Accountable, Fair, and Efficient Banking Act of 2010 [HB-5159]
[Finance ]
[Investments ]
Safe, Accountable, Fair, and Efficient Banking Act of 2010 or the SAFE Banking Act of 2010 - 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 to require any bank holding company having a deposit concentration in violation of this Act to sell or transfer assets to unaffiliated firms to bring the company into compliance with this Act. Prescribes
(continued...)
Sponsored by: Rep. Raul M. Grijalva
Referred To The House Committee On Financial Services. on 04/28/2010
Spread the world
US Congress 111th Congress
Responsible Subprime Lending Act [HB-514]
[Finance ]
[Housing ]
[Consumer Protection ]
Responsible Subprime Lending Act - States that certain revisions added as a final rule by the Board of Governors of the Federal Reserve System (Board) to regulation Z relating to Truth in Lending, shall apply as a matter of law to covered loans for which the creditor receives an application after the end of the 30-day period beginning on the enactment of this Act (except for the final rules on advertising, escrows, and loan servicing). States that certain final rules on escrows shall be effective for covered loans for which the creditor receives
(continued...)
Sponsored by: Rep. Elton Gallegly
Referred To The House Committee On Financial Services. on 01/14/2009
Spread the world
US Congress 111th Congress
Home Inspection Act of 2010 [HB-4854]
[Real Estate ]
[Housing ]
[Consumer Protection ]
Home Inspection Act of 2010 - Requires the federal banking agencies to prescribe joint regulations to prohibit any lender from making any federally related mortgage loan, under which a home inspection is conducted in connection with settlement of such loan, unless such inspection is conducted by a home inspector who is 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 1974 (RESPA) to require the Secretary of
(continued...)
Sponsored by: Rep. Lacy Clay
Referred To The House Committee On Financial Services. on 03/16/2010
Spread the world
US Congress 111th Congress
Financial Services Industry Stability Act of 2010 [HB-4516]
[Finance ]
[Budget and Spending ]
[Small Business ]
[Consumer Protection ]
[Economic Development ]
Financial Services Industry Stability Act of 2010 - Directs the Chairman of the Board of Governors of the Federal Reserve System to review all programs administered by the Board and utilize them in furtherance of this Act. Directs each federal department, agency, and independent establishment in the executive branch to utilize its authority to: (1) implement programs to promote transparency, simplicity, fairness, accountability, and equal access in the market for consumer financial products or services; and (2) take necessary steps to ensure that
(continued...)
Sponsored by: Rep. John D. Dingell
Sponsor Introductory Remarks On Measure. (cr H336) on 01/26/2010
Spread the world
US Congress 111th Congress
Return to Prudent Banking Act of 2009 [HB-4377]
[Finance ]
[Investments ]
[Law Enforcement ]
Return to Prudent Banking Act of 2009 - Amends the Federal Deposit Insurance Act (FDIA) to prohibit an insured depository institution from being an affiliate of any broker or dealer, investment adviser, investment company, or any other person or entity engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debentures, notes, or other securities. Prohibits officers, directors and employees of securities firms from simultaneous service on the boards of depository institutions, except in specified
(continued...)
Sponsored by: Rep. Daniel Lipinski
Referred To The House Committee On Financial Services. on 12/16/2009
Spread the world
US Congress 111th Congress
Restoring America's Commitment to Consumers Act of 2009 [HB-4300]
[Consumer Protection ]
[Finance ]
[Inflation ]
Restoring America's Commitment to Consumers Act of 2009 - 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 to make adjustments to
(continued...)
Sponsored by: Rep. Raul M. Grijalva
Referred To The Committee On Financial Services, And In Addition To The Committee On Rules, 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 12/11/2009
Spread the world
US Congress 111th Congress
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
(continued...)
Sponsored by: Rep. Barney Frank
Signed By President. on 07/21/2010
Spread the world
US Congress 111th Congress
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
(continued...)
Sponsored by: Rep. Barney Frank
Referred To The Subcommittee On General Farm Commodities And Risk Management. on 03/29/2010
Spread the world
US Congress 111th Congress
Credit Card Fee Limitation and Accountability Act [HB-3977]
[Consumer Protection ]
[Finance ]
Credit Card Fee Limitation and Accountability Act - Amends the Truth in Lending Act, as amended by the Credit CARD Act of 2009, to prohibit a creditor from imposing upon an open-end consumer credit account any fee related to failure of the consumer to: (1) use the credit card to obtain an extension of credit; (2) carry an outstanding balance from any billing cycle to another; and (3) obtain a minimum amount of credit under such account during any specified period. Permits a consumer to: (1) cancel an account within 45 days of receiving notice of
(continued...)
Sponsored by: Rep. Raul M. Grijalva
Referred To The House Committee On Financial Services. on 10/29/2009