Federal Reserve System
US Congress 113th Congress
Federal Reserve Independence Act [S.1018]
[Finance ]
[Budget and Spending ]
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 on
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/22/2013
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A bill to prohibit the provision of Federal funds to State and local governments for payment of obligations, to prohibit the Board of Governors of the Federal Reserve System from financially assisting State and local governments, and for other purposes. [S.101]
[Budget and Spending ]
[Funding ]
[Grants ]
[Disaster Relief ]
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, on or after January 26, 2011, has defaulted on its obligations, is at risk of defaulting, 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, municipal, local,
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Sponsored by: Sen. Ron Johnson
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. (text Of Measure As Introduced: Cr 8/1/2013 S6153) on 01/23/2013
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Home Building Lending Improvement Act of 2013 [S.1002]
[Finance ]
[Real Estate ]
[Housing ]
[Construction ]
[Law Enforcement ]
[Small Business ]
Home Building Lending Improvement Act of 2013 - Directs each of the appropriate federal banking agencies to initiate guidance or 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) adjustment from 100% to 125% of bank capital the measurement that triggers additional scrutiny on real estate loans in the lending portfolio of any qualified financial institution, (2) a prohibition against compelling lenders to call loans in good
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Sponsored by: Sen. Robert Menendez
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/21/2013
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Terminating the Expansion of Too-Big-To-Fail Act of 2013 [S.100]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
Terminating the Expansion of Too-Big-To-Fail Act of 2013 - 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
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Sponsored by: Sen. David Vitter
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 01/23/2013
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Federal Reserve Board Abolition Act [HB-73]
[Finance ]
[Budget and Spending ]
Federal Reserve Board Abolition Act - Abolishes the Board of Governors of the Federal Reserve System and each federal reserve bank.Repeals the Federal Reserve Act.
Sponsored by: Rep. Ted Yoho
Referred To The House Committee On Financial Services. on 01/03/2013
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Systemic Risk Mitigation Act [HB-613]
[Finance ]
[Budget and Spending ]
Systemic Risk Mitigation Act - Establishes a framework for a market-based trigger to monitor and regulate the adequacy of bank capital of those bank holding companies whose total consolidated assets are $50 billion or more. Directs the Board of Governors of the Federal Reserve System to notify a bank holding company whose average daily closing price exceeds either 50 basis points, or 75 basis points, that it must raise additional tier 1 capital in order to reduce such thresholds. Requires the Board to place into receivership a bank holding company
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Sponsored by: Rep. John Campbell
Referred To The House Committee On Financial Services. on 02/12/2013
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Small Financial Institutions Regulatory Relief Act of 2014 [HB-5786]
[Finance ]
[Real Estate ]
[Consumer Protection ]
[Small Business ]
[Housing ]
Small Financial Institutions Regulatory Relief Act of 2014 - Amends the Truth in Lending Act (TILA), with respect to minimum standards for residential mortgage loans and the presumption of ability to repay, to treat as a "qualified mortage" any residential mortgage loan made by a creditor having less than $10 billion in total assets, so long as the loan is originated and retained in creditor's portfolio for the duration of the loan term. Directs the Consumer Financial Protection Bureau (CFPB) to exempt a creditor with assets of less than $10 billion
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Sponsored by: Sen. Peter Welch
Referred To The House Committee On Financial Services. on 12/03/2014
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Financial Institution Customer Protection Act of 2014 [HB-5758]
[Finance ]
[Consumer Protection ]
[Law Enforcement ]
Financial Institution Customer Protection Act of 2014 - Prohibits a federal banking agency from suggesting, requesting, or ordering a depository institution to terminate a specific customer account, or otherwise restrict or discourage it from entering into or maintaining a banking relationship with a specific customer, unless: (1) the agency has a material reason to do so, and (2) the reason is not based solely on reputation risk. Prescribes requirements for notice from the federal banking agency to the depository institution about such a customer
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Sponsored by: Rep. Alcee Hastings
Referred To The House Committee On Financial Services. on 11/20/2014
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Financial Institution Bankruptcy Act of 2014 [HB-5421]
[Finance ]
[Budget and Spending ]
[Law Enforcement ]
Financial Institution Bankruptcy Act of 2014 - (Sec. 2) Amends federal bankruptcy law with respect to a "covered financial corporation" incorporated or organized under any federal or state law (other than a stockbroker, a commodity broker, or a domestic or foreign insurance company or financial institution meeting certain criteria) that is: (1) a bank holding company; or (2) a corporation that exists for the primary purpose of owning, controlling, and financing its subsidiaries, has total consolidated assets of $50 billion or greater, and whose
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Sponsored by: Rep. John Conyers
Received In The Senate And Read Twice And Referred To The Committee On The Judiciary. on 12/02/2014
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Financial Stability Oversight Council Improvement Act of 2014 [HB-5180]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
Financial Stability Oversight Council Improvement Act of 2014 - Amends the Financial Stability Act of 2010 to subject the Financial Stability Oversight Council (Council) to the Administrative Procedure Act. Requires the Council to make publicly available any final report study or analysis it has prepared, unless exempt from disclosure. Requires the Council, when determining whether to subject a U.S. or a foreign nonbank financial company to supervision by the Board of Governors of the Federal Reserve System and to prudential standards, to consider
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Sponsored by: Rep. John Delaney
Referred To The House Committee On Financial Services. on 07/23/2014
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Access to Affordable Mortgages Act of 2014 [HB-5148]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
Access to Affordable Mortgages Act of 2014 - Amends the Truth in Lending Act to exempt from property appraisal requirements certain higher-risk mortgage loans of $250,000 or less if such a loan appears on the balance sheet of the creditor of the loan for at least three years. Exempts certain individuals required to make such reports from penalties for failure to report any appraisers reasonably suspected of failing to comply with the Uniform Standards of Professional Appraisal Practice, of violating applicable laws, or of otherwise engaging in unethical
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Sponsored by: Rep. Blaine Luetkemeyer
Committee Consideration And Mark-up Session Held. on 07/30/2014
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Federal Reserve Accountability and Transparency Act of 2014 [HB-5018]
[Finance ]
[Budget and Spending ]
[Ethics ]
[Consumer Protection ]
Federal Reserve Accountability and Transparency Act of 2014 - Amends the Federal Reserve Act (FRA) to direct the Chairman of the Federal Open Market Committee (FOMC) to submit to the Comptroller General (GAO) and to certain congressional committees a Directive Policy Rule (DPR), including an identification of FOMC members who voted in its favor. Defines DPR as a policy rule developed by the FOMC that meets specified requirements and provides the basis for the Open Market Operations Directive. Directs GAO to study whether the DPR has materially changed,
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Sponsored by: Rep. Steve King
Committee Consideration And Mark-up Session Held. on 07/30/2014
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End Operation Choke Point Act of 2014 [HB-4986]
[Finance ]
[Law Enforcement ]
[Cybersecurity ]
[Data Privacy ]
[Criminal Justice ]
[Consumer Protection ]
[Crime ]
End Operation Choke Point Act of 2014 - Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to prohibit the federal banking agencies from prohibiting, restricting, or discouraging an insured depository institution or insured credit union from providing any product or service to an entity that demonstrates that it is: (1) licensed and authorized to offer such product or service, (2) registered as a money transmitting business under federal law or regulations, or (3) has a reasoned legal opinion that demonstrates the legality
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Sponsored by: Rep. Tony Cardenas
Hearings Held By The Subcommittee On Financial Institutions And Consumer Credit Prior To Referral. on 07/15/2014
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To place a 6-month moratorium on the authority of the Financial Stability Oversight Council to make financial stability determinations. [HB-4881]
[Finance ]
Establishes a six-month moratorium during which the Financial Stability Oversight Council is prohibited from making a determination under the Financial Stability Act of 2010 that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System and be subject to prudential standards, if the Council determines that material financial distress at the company (or its nature, scope, size, scale, concentration, interconnectedness, or mix of activities) could pose a threat to the financial stability of the United
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Sponsored by: Rep. Ann Wagner
Committee Consideration And Mark-up Session Held. on 06/20/2014
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Relief for America's Main Street Lenders Act [HB-4788]
[Finance ]
[Small Business ]
[Consumer Protection ]
Relief for America's Main Street Lenders Act - Amends the Commodity Exchange Act, the Securities Exchange Act of 1934, the Electronic Fund Transfer Act, and the Dodd-Frank Wall Street Reform and Consumer Protection Act to exclude from the definition of financial entity, solely with respect to an interest rate swap or interest rate security-based swap, financial institutions whose total assets are $50 billion or less.
Sponsored by: Rep. Sean Duffy
Referred To The Subcommittee On General Farm Commodities And Risk Management. on 07/07/2014
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Regional Financial Relief Act of 2014 [HB-4787]
[Finance ]
[Investments ]
[Small Business ]
[Consumer Protection ]
Regional Financial Relief Act of 2014 - Amends the Bank Holding Company Act of 1956 regarding prohibitions on proprietary trading by banking entities and certain relationships with hedge funds and private equity funds. Directs the appropriate federal banking agencies, the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) to promulgate, for banking entities with less than $50 billion in trading assets and liabilities, regulations regarding internal controls and recordkeeping whose requirements are less
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Sponsored by: Rep. Sean Duffy
Referred To The House Committee On Financial Services. on 05/30/2014
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Unfunded Mandates Accountability Act of 2013 [HB-4655]
[Budget and Spending ]
[Finance ]
Unfunded Mandates Accountability Act of 2013 [sic]- 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
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Sponsored by: Rep. Kevin Yoder
Referred To The Subcommittee On Regulatory Reform, Commercial And Antitrust Law. on 07/21/2014
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Policyholder Protection Act of 2014 [HB-4557]
[Insurance ]
[Finance ]
Policyholder Protection Act of 2014 - Amends the Federal Deposit Insurance Act to declare that any regulation, order, or other action of the Board of Governors of the Federal Reserve System that requires a bank holding company to provide funds or other assets to a subsidiary depository institution shall not be effective nor enforceable with respect to an entity that is a savings and loan holding company that is also an insurance company, an affiliate of an insured depository institution that is an insurance company, or any other company that is
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Sponsored by: Rep. Ann Wagner
Hearings Held By The Subcommittee On Housing And Insurance Prior To Referral. on 05/20/2014
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To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to specify when bank holding companies may be subject to certain enhanced supervision. [HB-4532]
[Finance ]
[Consumer Protection ]
[Budget and Spending ]
[Insurance ]
Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to authorize the Financial Stability Oversight Council to determine that a bank holding company shall be subject to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System, if the Council makes a final determination that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities could threaten the financial stability of the United
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Sponsored by: Rep. Steve Stivers
Referred To The House Committee On Financial Services. on 04/30/2014
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Community Institution Mortgage Relief Act of 2014 [HB-4521]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
[Small Business ]
[Community Development ]
Community Institution Mortgage Relief Act of 2014 - Amends the Truth in Lending Act (TILA) to require the Board of Governors of the Federal Reserve System to exempt from certain escrow or impound requirements a loan secured by a first lien on a consumer's principal dwelling if the loan is held by a creditor with assets of $10 billion or less. Amends the Real Estate Settlement Procedures Act of 1974 to direct the Consumer Financial Protection Bureau (CFPB) to provide either exemptions or adjustments from the mortgage loan servicing and escrow account
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Sponsored by: Rep. Walter Jones
Committee Consideration And Mark-up Session Held. on 05/22/2014