Federal Reserve System

Federal
US Congress 113th Congress

Protecting American Taxpayers and Homeowners Act of 2013 [HB-2767] [Finance ] [Real Estate ] [Housing ] [Consumer Protection ] [Taxes ] [Budget and Spending ] [Small Business ] [Insurance ] [Economic Development ]
Protecting American Taxpayers and Homeowners Act of 2013 - GSE Bailout Elimination and Taxpayer Protection Act - Directs the Director of the Federal Housing Finance Agency (FHFA), five years after enactment of this Act, to appoint FHFA as receiver of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or (GSEs) under the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, to carry out mandatory receivership (thus terminating the (continued...)

  

Sponsored by: Rep. Steve Scalise Committee Consideration And Mark-up Session Held. on 07/24/2013

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US Congress 113th Congress

Regulatory Relief for Credit Unions Act of 2013 [HB-2572] [Finance ] [Consumer Protection ] [Small Business ] [Insurance ] [Investments ]
Regulatory Relief for Credit Unions Act of 2013 - Amends the Federal Credit Union Act to authorize the National Credit Union Administration Board (NCUAB), if it determines that a regulation issued by the Consumer Financial Protection Bureau (CFPB) would create an undue hardship when applied to credit unions, to: (1) delay the regulation's application to credit unions until the NCUAB determines that it would not create an undue hardship; and (2) modify the regulation as it applies to credit unions, so long as the modification meets CFPB's objective (continued...)

  

Sponsored by: Rep. Gary Miller Referred To The House Committee On Financial Services. on 06/28/2013

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US Congress 113th Congress

Determination of Appropriate Risk-Based Capital Requirements for Community Financial Institutions Act of 2013 [HB-2547] [Finance ] [Real Estate ] [Housing ] [Small Business ] [Insurance ] [Community Development ] [Funding ] [Investments ]
Determination of Appropriate Risk-Based Capital Requirements for Community Financial Institutions Act of 2013 - Directs the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (federal banking agencies) to conduct an empirical impact study before issuing a final rule in relation to proposed regulatory capital rules for the international Basel III agreement (Rules). Requires the study to include: (1) the potential impact of such Rules upon the U.S. (continued...)

  

Sponsored by: Rep. Gregory Meeks Referred To The House Committee On Financial Services. on 06/27/2013

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Federal
US Congress 113th Congress

Responsible Consumer Financial Protection Regulations Act of 2013 [HB-2446] [Consumer Protection ] [Finance ]
Responsible Consumer Financial Protection Regulations Act of 2013 - Amends the Consumer Financial Protection Act of 2010, title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to replace the position of Director of the Consumer Financial Protection Bureau (CFPB) with a five-member Commission composed of the Vice Chairman for Supervision of the Federal Reserve System and four additional members appointed by the President, by and with the advice and consent of the Senate, each to serve for a term of five years. Prohibits the Chair (continued...)

  

Sponsored by: Rep. Keith Rothfus Reported (amended) By The Committee On Financial Services. H. Rept. 113-345. on 02/06/2014

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Federal
US Congress 113th Congress

Consumer Financial Protection Commission Act of 2013 [HB-2402] [Consumer Protection ] [Finance ]
Consumer Financial Protection Commission Act of 2013 - Amends the Consumer Financial Protection Act of 2010 (title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act), to replace the position of Director of the Bureau of Consumer Financial Protection with a five-member Commission whose members are appointed by the President, by and with the advice and consent of the Senate. Prohibits the Chair of the Commission from making requests for estimates related to appropriations without prior Commission approval.

  

Sponsored by: Rep. Sean Duffy Hearings Held By The Subcommittee On Financial Institutions And Consumer Credit Prior To Referral. on 10/29/2013

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US Congress 113th Congress

Federal Reserve Transparency Act of 2014 [HB-24] [Finance ] [Budget and Spending ] [Taxes ]
Federal Reserve Transparency Act of 2014 - Directs the Comptroller General (GAO) to: (1) complete, within 12 months of enactment of this Act, the required audit of the Board of Governors of the Federal Reserve System (Federal Reserve 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. Repeals GAO authority to conduct audits of the Federal Reserve Board, a Federal Reserve Bank, or a credit facility (continued...)

  

Sponsored by: Rep. Ted Poe Received In The Senate. on 09/18/2014

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US Congress 113th Congress

Basel III CASE Act [HB-2295] [Finance ] [Small Business ] [Consumer Protection ] [Economic Development ]
Basel III Commonsense Approach for Small Entities Act or Basel III CASE Act - Directs the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency, before issuing any final rule in relation to proposals they have issued for the International Basel III agreement on general risk-based capital requirements, to conduct an empirical study that includes: (1) a quantitative analysis of the rule's impact on the U.S. financial services sector, specifically community, (continued...)

  

Sponsored by: Rep. Alcee Hastings Referred To The House Committee On Financial Services. on 06/06/2013

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US Congress 113th Congress

Subsidy Reserve Act of 2013 [HB-2266] [Finance ] [Budget and Spending ] [Consumer Protection ]
Subsidy Reserve Act of 2013 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to require a nonbank financial company supervised by the Board of Governors of the Federal Reserve (Board) and each bank holding company with total consolidated assets of $500 billion or more (companies) to establish and maintain a Subsidy Reserve. Instructs the Board to: establish a formula for determining the financial benefit received by such companies as a result of the expectations on the part of their shareholders, creditors, and (continued...)

  

Sponsored by: Rep. Michael Capuano Referred To The House Committee On Financial Services. on 06/05/2013

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US Congress 113th Congress

Insurance Capital and Accounting Standards Act of 2013 [HB-2140] [Insurance ] [Finance ]
Insurance Capital and Accounting Standards Act of 2013 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) and the Home Owners' Loan Act to make minimum leverage and risk-based capital requirements governing insurance companies under the state law also apply to insurance companies that are either depository holding companies or subsidiaries of depository holding companies. Presumes any insurance company, insurance affiliate, or insurance subsidiary in compliance with applicable risk-based capital standards under state (continued...)

  

Sponsored by: Rep. Carolyn McCarthy Referred To The House Committee On Financial Services. on 05/23/2013

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US Congress 113th Congress

Federal Reserve Independence Act [HB-2100] [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 on (continued...)

  

Sponsored by: Rep. Peter DeFazio Referred To The House Committee On Financial Services. on 05/22/2013

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US Congress 113th Congress

CLEAR Relief Act of 2013 [HB-1750] [Finance ] [Real Estate ] [Small Business ] [Consumer Protection ] [Housing ] [Investments ]
Community Lending Enhancement and Regulatory Relief Act of 2013 or CLEAR Relief Act of 2013 - Directs the Board of Governors of the Federal Reserve System (Board) to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on the Assessment of Financial and Managerial Factors that: (1) apply the policy to bank holding companies having pro forma consolidated assets of less than $5 billion (adjusted annually), no engagement in nonbanking activities involving significant leverage, and no significant amount (continued...)

  

Sponsored by: Rep. Ted Poe Referred To The House Committee On Financial Services. on 04/25/2013

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US Congress 113th Congress

Mortgage Settlement Monitoring Act of 2013 [HB-1706] [Finance ] [Housing ] [Consumer Protection ] [Real Estate ]
Mortgage Settlement Monitoring Act of 2013 - Establishes the Office of the Independent Monitor to determine the compliance with its terms of all parties to the amended consent orders (settlement) finalized on February 28, 2013, between the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency and 11 mortgage servicing companies subject to enforcement actions for unsafe and unsound practices related to residential mortgage loan servicing and foreclosure processing, as well as any future agreement between (continued...)

  

Sponsored by: Rep. Barbara Lee Referred To The House Committee On Financial Services. on 04/24/2013

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Federal
US Congress 113th Congress

To provide an exemption for community banks from the application of Basel III capital standards. [HB-1693] [Finance ] [Small Business ] [Budget and Spending ]
Directs the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) to exempt from specified Basel III regulations community banks with consolidated assets of $50 billion or less.

  

Sponsored by: Rep. Carol Shea-Porter Referred To The House Committee On Financial Services. on 04/24/2013

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US Congress 113th Congress

Mutual Community Bank Competitive Equality Act [HB-1603] [Finance ] [Small Business ]
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. Gregory Meeks Referred To The House Committee On Financial Services. on 04/17/2013

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US Congress 113th Congress

Financial Institutions Examination Fairness and Reform Act [HB-1553] [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 (continued...)

  

Sponsored by: Rep. Ted Poe Referred To The House Committee On Financial Services. on 04/15/2013

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US Congress 113th Congress

Consumer Rental Purchase Agreement Act [HB-1551] [Consumer Protection ] [Finance ] [Crime ]
Consumer Rental Purchase Agreement Act - Amends the Consumer Credit Protection Act to prescribe consumer protection guidelines for rental-purchase transactions, including: (1) the determination of rental-purchase cost; (2) disclosure requirements; (3) prohibitions against confessions of judgment, wage assignments, and waiver of consumer claims or defenses; (4) furnishing of statements of account; (5) point-of-rental disclosures; and (6) rental-purchase advertising disclosures. Declares that an action for civil liability may be brought against a (continued...)

  

Sponsored by: Rep. Robert Wittman Referred To The House Committee On Financial Services. on 04/15/2013

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US Congress 113th Congress

National Financial Literacy Act of 2013 [HB-1538] [Finance ] [Taxes ] [Small Business ] [Consumer Protection ] [Education ] [Community Development ] [Labor, Jobs, Employment ]
National Financial Literacy Act of 2013 - 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. Barbara Lee Sponsor Introductory Remarks On Measure. (cr E448-449) on 04/12/2013

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US Congress 113th Congress

Democratizing the Federal Reserve System Act of 2013 [HB-130] [Finance ]
Democratizing the Federal Reserve System Act of 2013 - Amends the Federal Reserve Act to reduce from 14 years to 7 years the term of office of the members of the Board of Governors of the Federal Reserve System. Increases from two years to four years the post-service restriction which renders Board members ineligible to hold any office, position, or employment in any member bank. Revises the terms for ongoing service on the Board with respect to its Chairman and Vice Chairman. Requires the Speaker and the minority leader of the House of Representatives, (continued...)

  

Sponsored by: Rep. Walter Jones Referred To The House Committee On Financial Services. on 01/03/2013

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US Congress 113th Congress

Return to Prudent Banking Act of 2013 [HB-129] [Finance ] [Investments ] [Law Enforcement ]
Return to Prudent Banking Act of 2013 - 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. Raul Grijalva Referred To The House Committee On Financial Services. on 01/03/2013

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US Congress 113th Congress

Home Construction Lending Regulatory Improvement Act of 2013 [HB-1255] [Finance ] [Real Estate ] [Housing ] [Construction ] [Small Business ]
Home Construction Lending Regulatory Improvement Act of 2013 - 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 from preventing (continued...)

  

Sponsored by: Rep. Dina Titus Referred To The House Committee On Financial Services. on 03/19/2013

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