Finance And Financial Sector
US Congress 115th Congress
To require the use of replacement cost value in determining the premium rates for flood insurance coverage under the National Flood Insurance Act, and for other purposes. [HB-2565]
[Insurance ]
[Disaster Relief ]
To require the use of replacement cost value in determining the premium rates for flood insurance coverage under the National Flood Insurance Act, and for other purposes. (Sec. 1) This bill directs the Federal Emergency Management Agency (FEMA) to incorporate the replacement cost value of a structure insured under the National Flood Insurance Program of 1968 in its consideration of chargeable premium rates. FEMA must conduct a study regarding risk rating redesign utilizing replacement cost and report the findings to Congress.
Sponsored by: Rep. Blaine Luetkemeyer
Reported (amended) By The Committee On Financial Services. H. Rept. 115-221. on 07/14/2017
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TABS Act of 2017 Taking Account of Bureaucrats' Spending Act of 2017 [HB-2553]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
TABS Act of 2017 Taking Account of Bureaucrats' Spending Act of 2017 This bill amends the Consumer Financial Protection Act of 2010 to eliminate provisions that fund the Consumer Financial Protection Bureau (CFPB) using transfers from the earnings of the Federal Reserve System. The transfers under current law permit the CFPB to be funded outside of the annual appropriations process, and this bill brings the CFPB into the regular process.
Sponsored by: Rep. David Young
Introduced In House on 05/19/2017
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National Purple Heart Hall of Honor Commemorative Coin Act [HB-1683]
[Veterans ]
[Military ]
[Arts and Culture ]
[Funding ]
[Grants ]
National Purple Heart Hall of Honor Commemorative Coin Act This bill directs the Department of the Treasury to mint and issue $5 gold coins, $1 silver coins, and half-dollar clad coins emblematic of the National Purple Heart Hall of Honor. The bill limits the issuance of such coins to the one-year period beginning on January 1, 2020. The bill prescribes surcharges for coin sales, which shall be paid to the National Purple Heart Hall of Honor, Inc., to help finance the construction of a new building and renovation of existing National Purple Heart
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Sponsored by: Rep. Sean Maloney
Introduced In House on 03/22/2017
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Financial Institution Bankruptcy Act of 2017 [HB-1667]
[Finance ]
[Budget and Spending ]
[Law Enforcement ]
Financial Institution Bankruptcy Act of 2017 (Sec. 2) This bill amends federal bankruptcy law to allow certain large financial institutions to elect a new "Subchapter V" bankruptcy process specific to such institutions. (Sec. 3) Under the new process, a debtor institution may request the bankruptcy court to order the transfer of the debtor's assets to a newly formed bridge company. The trust agreement governing such an assets transfer must meet specified requirements. The court may order such an assets transfer only if it determines, by a preponderance
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Sponsored by: Rep. David Cicilline
Received In The Senate And Read Twice And Referred To The Committee On The Judiciary. on 04/06/2017
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Fostering Innovation Act of 2017 [HB-1645]
[Finance ]
[Small Business ]
[Technology and Innovation ]
Fostering Innovation Act of 2017 This bill amends the Sarbanes-Oxley Act of 2002 to establish a temporary exemption to the requirement that each registered public accounting firm that prepares or issues an audit report for an issuer of securities (other than an emerging growth company) shall attest to, and report on, the internal control assessment made by the management of the issuer. Specifically, this requirement shall not apply with respect to an audit report prepared for an issuer that: ceased to be an emerging growth company on the last day
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Sponsored by: Rep. Luke Messer
Reported By The Committee On Financial Services. H. Rept. 115-425. on 11/28/2017
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Municipal Finance Support Act of 2017 [HB-1624]
[Finance ]
[Budget and Spending ]
[Investments ]
Municipal Finance Support Act of 2017 (Sec. 2) This bill amends the Federal Deposit Insurance Act to require certain municipal obligations to be treated as high-quality liquid assets if they are investment grade, liquid, and readily marketable. Under current law, high-quality assets include level 1, level 2A, and level 2B liquid assets.
Sponsored by: Rep. Gregory Meeks
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 10/04/2017
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Iranian Leadership Asset Transparency Act [HB-1638]
[International ]
[National Security ]
[Finance ]
[Law Enforcement ]
Iranian Leadership Asset Transparency Act (Sec. 3) This bill requires the Department of the Treasury, in furtherance of efforts to prevent terrorism financing, money laundering, or illicit finance and to make financial institutions' sanctions compliance more easily understood, to report to Congress within 270 days and annually thereafter for the next two years regarding: the funds or assets held in U.S. and foreign financial institutions that are controlled by specified Iranian officials; any equity stake such official has in an entity on Treasury's
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Sponsored by: Rep. Bruce Poliquin
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 12/14/2017
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RIGHTS at the CFPB Act of 2017 Reigning In of Governmental Hostility To Sovereignty at the CFPB Act of 2017 [HB-1637]
[Consumer Protection ]
[Finance ]
RIGHTS at the CFPB Act of 2017 Reigning In of Governmental Hostility To Sovereignty at the CFPB Act of 2017 This bill amends the Consumer Financial Protection Act of 2010 to specify that a private party that is a party to an administrative proceeding brought by the Consumer Financial Protection Bureau may compel the bureau to terminate the proceeding, in which case the bureau may bring a civil action for the same remedy.
Sponsored by: Rep. Luke Messer
Introduced In House on 03/20/2017
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Gender Diversity in Corporate Leadership Act of 2017 [HB-1611]
[Labor, Jobs, Employment ]
[Technology and Innovation ]
[Human Rights ]
[Data Privacy ]
Gender Diversity in Corporate Leadership Act of 2017 This bill amends the Securities Exchange Act of 1934 to require each issuer to disclose, in any proxy or consent solicitation material for an annual shareholders meeting, the gender composition of its board of directors and nominees for board membership. The Securities and Exchange Commission shall establish a Gender Diversity Advisory Group, composed of government, academic, and private-sector representatives, to study strategies for increasing gender diversity among the members of issuers' boards
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Sponsored by: Rep. Gregory Meeks
Introduced In House on 03/17/2017
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Mutual Bank Capital Opportunity Act of 2017 [HB-1595]
[Finance ]
[Investments ]
Mutual Bank Capital Opportunity Act of 2017 This bill amends the Federal Deposit Insurance Act to allow mutual capital certificates issued by a mutual depository (i.e., a federally insured depository institution operating in a non-stock form) to qualify as common-equity Tier 1 capital for purposes of satisfying federal capital requirements. A "mutual capital certificate" is a financial instrument that: (1) is subordinate to all claims against, and unsecured by the assets of, the issuing mutual depository; (2) does not permit preemptive rights; (3)
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Sponsored by: Rep. Keith Rothfus
Introduced In House on 03/17/2017
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Fair Investment Opportunities for Professional Experts Act [HB-1585]
[Finance ]
[Investments ]
[Consumer Protection ]
Fair Investment Opportunities for Professional Experts Act (Sec. 2) This bill amends the Securities Act of 1933 to modify the definition of "accredited investor" for purposes of participating in private offerings to include: an individual whose net worth or joint net worth with their spouse exceeds $1 million (adjusted for inflation), excluding from the calculation of their net worth their primary residence and a mortgage secured by that residence in certain circumstances; an individual whose income over the last two years exceeded $200,000 (adjusted
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Sponsored by: Rep. Luke Messer
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 11/02/2017
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Repeatedly Flooded Communities Preparation Act [HB-1558]
[Disaster Relief ]
[Housing ]
[Insurance ]
[Water ]
[Community Development ]
[Public Safety ]
Repeatedly Flooded Communities Preparation Act (Sec. 2) This bill amends the National Flood Insurance Act of 1968 to require a community that participates in the National Flood Insurance Program (NFIP) and has been repeatedly flooded to: (1) assess the continuing risks to community areas repeatedly damaged by floods; and (2) develop and implement a publicly available, community-specific plan for mitigating continuing flood risks to such areas. The Federal Emergency Management Agency (FEMA) must, upon request, provide a community with data to assist
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Sponsored by: Rep. Earl Blumenauer
Reported (amended) By The Committee On Financial Services. H. Rept. 115-276. on 08/15/2017
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Duty First Act [HB-1582]
[Military ]
[Veterans ]
[Arts and Culture ]
[Funding ]
Duty First Act This bill requires the Department of the Treasury to issue up to 20,000 $5 gold coins, 100,000 $1 silver coins, and 200,000 half-dollar clad coins, emblematic of the 100-year anniversary of the 1st Infantry Division. All surcharges received by Treasury from the sale of such coins shall be paid to the Society of the 1st Infantry Division for renovation of the existing 1st Infantry Division Memorial located in the District of Columbia.
Sponsored by: Rep. Steve Russell
Introduced In House on 03/16/2017
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Financial Transparency Act of 2017 [HB-1530]
[Finance ]
[Technology and Innovation ]
[Data Privacy ]
[Investments ]
Financial Transparency Act of 2017 This bill amends the Financial Stability Act of 2010, the Investment Advisers Act of 1940, the Federal Deposit Insurance Act, and other laws to require federal financial regulatory agencies to adopt specified data standards with respect to format, searchability, and transparency.
Sponsored by: Rep. Ted Poe
Referred To The Subcommittee On Commodity Exchanges, Energy, And Credit. on 03/23/2017
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Debt Collection Practices Harmonization Act [HB-1521]
[Consumer Protection ]
[Disaster Relief ]
[Inflation ]
[Law Enforcement ]
Debt Collection Practices Harmonization Act This bill amends the Fair Debt Collection Practices Act to: (1) cover debt owed to a state, and (2) specify that existing limits on civil damages awarded for abusive practices by a debt collector shall be adjusted for inflation. A court may award injunctive relief for violations of the Act. The Department of the Treasury may not contract with any debt collector or other private party to recoup overpayments of disaster assistance made to an individual or household by the Federal Emergency Management Agency
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Sponsored by: Rep. Gregory Meeks
Introduced In House on 03/13/2017
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Bureau of Consumer Financial Protection-Inspector General Reform Act of 2017 CFPB-IG Act of 2017 [S.626]
[Consumer Protection ]
[Finance ]
Bureau of Consumer Financial Protection-Inspector General Reform Act of 2017 CFPB-IG Act of 2017 This bill amends the Inspector General Act of 1978 to repeal the authority of the Chairman of the Board of Governors of the Federal Reserve System to appoint the Inspector General of the Consumer Financial Protection Bureau (CFPB). The CFPB Inspector General shall be appointed by the President, by and with the advice and consent of the Senate.
Sponsored by: Sen. Susan Collins
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/14/2017
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PCAOB Enforcement Transparency Act of 2017 [S.610]
[Finance ]
[Consumer Protection ]
PCAOB Enforcement Transparency Act of 2017 This bill amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings open to the public unless the board, on its own motion or after considering the motion of a party, orders otherwise.
Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. (sponsor Introductory Remarks On Measure: Cr S1780) on 03/13/2017
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HALOS Act Helping Angels Lead Our Startups Act [S.588]
[Finance ]
[Small Business ]
[Technology and Innovation ]
[Investments ]
[Economic Development ]
HALOS Act Helping Angels Lead Our Startups Act This bill directs the Securities and Exchange Commission (SEC) to revise Regulation D, which exempts certain offerings from SEC registration requirements but prohibits general solicitation or general advertising with respect to such offerings. Specifically, this prohibition shall not apply to events with specified kinds of sponsors, including "angel investor groups" unconnected to broker-dealers or investment advisers, where presentations or communications are made by or on behalf of an issuer but:
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Sponsored by: Sen. Brian Schatz
Committee On Banking, Housing, And Urban Affairs. Hearings Held. on 06/26/2018
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MOBILE Act of 2017 Making Online Banking Initiation Legal and Easy Act of 2017 [HB-1457]
[Finance ]
[Technology and Innovation ]
[Consumer Protection ]
[Data Privacy ]
MOBILE Act of 2017 Making Online Banking Initiation Legal and Easy Act of 2017 (Sec. 1) This bill authorizes a financial institution to record personal information from a scan, copy, or image of an individual's driver's license or personal identification card and store the information electronically when an individual initiates an online request to open an account or obtain a financial product. The financial institution may use the information for the purpose of verifying the authenticity of the driver's license or identification card, verifying
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Sponsored by: Rep. David Valadao
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 01/30/2018
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Financial Stability Oversight Council Reform Act [HB-1459]
[Finance ]
[Cybersecurity ]
[Technology and Innovation ]
[Budget and Spending ]
[Science ]
Financial Stability Oversight Council Reform Act This bill amends the Financial Stability Act of 2010 to make the budgets of the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) subject to the annual appropriations process and to establish requirements for reports and a public notice and comment period. The budgets of the FSOC and the OFR are funded by assessments on financial institutions which are deposited into the Financial Research Fund and, under current law, are immediately available to be spent. This
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Sponsored by: Rep. Steve Stivers
Introduced In House on 03/09/2017