Finance And Financial Sector
US Congress 115th Congress
Federal Savings Association Charter Flexibility Act of 2017 [S.567]
[Finance ]
[Consumer Protection ]
Federal Savings Association Charter Flexibility Act of 2017 This bill amends the Home Owners' Loan Act to permit a federal savings association to elect to operate, subject to supervision by the Office of the Comptroller of the Currency, with the same rights and duties as a national bank.
Sponsored by: Sen. Mike Rounds
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/08/2017
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Stop Debt Collection Abuse Act of 2017 [S.575]
[Consumer Protection ]
[Finance ]
Stop Debt Collection Abuse Act of 2017 This bill amends the Fair Debt Collection Practices Act to apply that Act's restrictions to collectors of debt owed to a federal agency. A federal agency that is a creditor may not sell or transfer a debt to a debt collector until 90 days after the obligation arises. Specified notice to the consumer of such a sale or transfer is required. A collector of debt owed to a federal agency may not collect any interest, fee, charge, or expense that is: (1) unreasonable in relation to actual costs, (2) not authorized
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Sponsored by: Sen. Mike Lee
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/08/2017
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National Flood Insurance Program Reauthorization and Improvement Act of 2017 [HB-1423]
[Insurance ]
[Disaster Relief ]
[Climate Change ]
[Public Safety ]
[Law Enforcement ]
[Criminal Justice ]
[Funding ]
[Crime ]
National Flood Insurance Program Reauthorization and Improvement Act of 2017 This bill amends the National Flood Insurance Act of 1968 to extend the National Flood Insurance Program (NFIP) through FY2027. Every policy issued under NFIP must include documents describing the type of loss covered, a summary of the costs of the policy, and an explanation of the policy's parameters. The Federal Emergency Management Agency (FEMA) is directed to establish a program for "Write Your Own" companies (a company that writes and services federal standard flood
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Sponsored by: Rep. Nydia Velazquez
Introduced In House on 03/08/2017
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Federal Savings Association Charter Flexibility Act of 2017 [HB-1426]
[Finance ]
[Consumer Protection ]
Federal Savings Association Charter Flexibility Act of 2017 (Sec. 2) This bill amends the Home Owners' Loan Act to permit a federal savings association to elect to operate, subject to supervision by the Office of the Comptroller of the Currency, with the same rights and duties as a national bank (including operating without certain lending restrictions).
Sponsored by: Rep. Luke Messer
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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Private Flood Insurance Market Development Act of 2017 [HB-1422]
[Insurance ]
[Housing ]
[Disaster Relief ]
[Real Estate ]
Private Flood Insurance Market Development Act of 2017 This bill amends the Flood Disaster Protection Act of 1973 to revise requirements for federal and private flood insurance. The bill revises the financial requirements that apply to flood insurance for home loans or loan guarantees by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and other federal mortgage entities. Private flood insurance must meet any financial strength requirements set forth by the Federal Housing Finance
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Sponsored by: Rep. Alexander Mooney
Reported (amended) By The Committee On Financial Services. H. Rept. 115-220. on 07/14/2017
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Flood Insurance Market Parity and Modernization Act [S.563]
[Insurance ]
[Disaster Relief ]
[Housing ]
[Real Estate ]
Flood Insurance Market Parity and Modernization Act This bill amends the Flood Disaster Protection Act of 1973 to revise requirements for federal and private flood insurance. This bill revises the financial requirements that apply to flood insurance for home loans or loan guarantees by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Private flood insurance must meet any financial strength requirements set forth by Fannie Mae and Freddie Mac. Private flood insurance may include
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Sponsored by: Sen. Rob Portman
Committee On Banking, Housing, And Urban Affairs. Hearings Held. on 05/04/2017
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Justice for Victims of Fraud Act of 2017 [S.552]
[Consumer Protection ]
[Finance ]
[Law Enforcement ]
[Cybersecurity ]
[Crime ]
Justice for Victims of Fraud Act of 2017 This bill amends the Truth in Lending Act and the Electronic Fund Transfer Act to prohibit predispute arbitration agreements with consumers (i.e., agreements to arbitrate any future disputes between parties instead of pursuing the claims in court) from being valid or enforceable in disputes related to credit card accounts or personal bank accounts that are not subject to a final judgment by a court if the credit card or bank account was not issued in response to a request or application for that account.
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Sponsored by: Sen. Robert Casey
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/07/2017
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Justice for Victims of Fraud Act of 2017 [HB-1414]
[Consumer Protection ]
[Finance ]
[Law Enforcement ]
[Cybersecurity ]
[Crime ]
Justice for Victims of Fraud Act of 2017 This bill amends the Truth in Lending Act and the Electronic Fund Transfer Act to prohibit predispute arbitration agreements with consumers (i.e., agreements to arbitrate any future disputes between parties instead of pursuing the claims in court) from being valid or enforceable in disputes related to credit card accounts or personal bank accounts that are not subject to a final judgment by a court if the credit card or bank account was not issued in response to a request or application for that account.
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Sponsored by: Rep. Sean Maloney
Introduced In House on 03/07/2017
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Flood Insurance Fairness Act of 2017 [HB-1401]
[Insurance ]
[Disaster Relief ]
[Housing ]
Flood Insurance Fairness Act of 2017 This bill amends the National Flood Insurance Act of 1968 to allow, under the National Flood Insurance Program, subsidized risk premium rates for flood insurance coverage on: (1) non-primary residences, and (2) business property. In developing guidance and rate tables necessary to implement this Act, the Federal Emergency Management Agency (FEMA) shall consult with "Write Your Own" companies that write and service standard flood insurance policies in their own names.
Sponsored by: Rep. Carlos Curbelo
Introduced In House on 03/07/2017
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Cybersecurity Disclosure Act of 2017 [S.536]
[Cybersecurity ]
[Technology and Innovation ]
[Finance ]
[Data Privacy ]
Cybersecurity Disclosure Act of 2017 This bill directs the Securities and Exchange Commission (SEC) to issue final rules requiring a registered issuer to: disclose in its mandatory annual report or annual proxy statement whether any member of its governing body has expertise or experience in cybersecurity, including details necessary to describe fully the nature of that expertise or experience; and if no member has such expertise or experience, describe what other company cybersecurity steps were taken into account by the persons responsible for
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Sponsored by: Sen. Jack Reed
Committee On Banking, Housing, And Urban Affairs. Hearings Held. on 06/28/2018
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U.S. Territories Investor Protection Act of 2017 [HB-1366]
[Consumer Protection ]
[Finance ]
[Investments ]
U.S. Territories Investor Protection Act of 2017 (Sec. 2) This bill amends the Investment Company Act of 1940 to apply the Act to investment companies created under the laws of Puerto Rico, the Virgin Islands, or any other U.S. possession.
Sponsored by: Rep. Raul Grijalva
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/03/2017
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Encouraging Employee Ownership Act of 2017 [HB-1343]
[Labor, Jobs, Employment ]
[Small Business ]
[Finance ]
[Investments ]
Encouraging Employee Ownership Act of 2017 (Sec. 2) This bill requires the Securities and Exchange Commission to increase, from $5 million to $10 million, the 12-month sales threshold beyond which an issuer is required to provide investors with additional disclosures related to compensatory benefit plans.
Sponsored by: Rep. John Delaney
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/05/2017
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Protect Children from Theft Act of 2017 [HB-1345]
[Consumer Protection ]
[Children and Youth ]
[Data Privacy ]
Protect Children from Theft Act of 2017 This bill amends the Fair Credit Reporting Act to require a consumer reporting agency, upon request by the legal guardian or custodian of a minor consumer, to either create a blocked credit report for the minor or convert the minor's existing report to blocked status. With respect to a minor's blocked report, a consumer reporting agency: (1) must block the input of any information, except with permission from the minor's legal guardian or custodian; and (2) may not provide any person with a consumer report
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Sponsored by: Rep. James Langevin
Introduced In House on 03/02/2017
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U.S. Territories Investor Protection Act of 2017 [S.484]
[Consumer Protection ]
[Finance ]
[Investments ]
U.S. Territories Investor Protection Act of 2017 (Sec. 2) This bill amends the Investment Company Act of 1940 to apply the Act to investment companies created under the laws of Puerto Rico, the Virgin Islands, or any other U.S. possession.
Sponsored by: Sen. Robert Menendez
Received In The House. on 09/12/2017
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JOBS and Investor Confidence Act of 2018 [S.488]
[Finance ]
[Labor, Jobs, Employment ]
[Small Business ]
[Investments ]
JOBS and Investor Confidence Act of 2018 (Sec. 2) This bill requires the Securities and Exchange Commission to increase, from $5 million to $10 million, the 12-month sales threshold beyond which an issuer is required to provide investors with additional disclosures related to compensatory benefit plans.
Sponsored by: Sen. Mark Warner
Message On House Action Received In Senate And At Desk: House Amendments To Senate Bill. on 07/18/2018
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Capital Access for Small Businesses and Jobs Act [HB-1244]
[Finance ]
[Labor, Jobs, Employment ]
[Small Business ]
[Consumer Protection ]
[Economic Development ]
Capital Access for Small Businesses and Jobs Act This bill amends the Federal Credit Union Act to allow a federal credit union, other than a low-income credit union, to receive payments on uninsured non-share accounts that: do not alter the cooperative nature of the credit union; are subordinate to all other claims against the credit union; are available to cover operating losses in excess of retained earnings and, to the extent so applied, will not be replenished; meet applicable requirements with respect to maturity; are subject to disclosure
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Sponsored by: Rep. Ted Poe
Introduced In House on 02/28/2017
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Securities and Exchange Commission Overpayment Credit Act [S.462]
[Finance ]
[Taxes ]
[Consumer Protection ]
[Investments ]
Securities and Exchange Commission Overpayment Credit Act (Sec. 2) This bill requires the Securities and Exchange Commission (SEC) to offset future fees and assessments due from a national securities exchange or association that: (1) has previously overpaid such fees and assessments, and (2) informs the SEC of the overpayment within 10 years.
Sponsored by: Sen. Mark Warner
Received In The House. on 09/12/2017
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Securities and Exchange Commission Overpayment Credit Act [HB-1257]
[Finance ]
[Taxes ]
[Investments ]
Securities and Exchange Commission Overpayment Credit Act (Sec. 2) This bill requires the Securities and Exchange Commission (SEC) to offset future fees and assessments due from a national securities exchange or association that: (1) has previously overpaid such fees and assessments, and (2) informs the SEC of the overpayment within 10 years.
Sponsored by: Rep. Gregory Meeks
Reported (amended) By The Committee On Financial Services. H. Rept. 115-275. on 08/15/2017
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Community Financial Institution Exemption Act [HB-1264]
[Finance ]
[Consumer Protection ]
[Small Business ]
Community Financial Institution Exemption Act This bill amends the Consumer Financial Protection Act of 2010 to exempt certain financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau (CFPB). Specifically, the bill exempts from regulation an insured depository institution or credit union with less than $50 billion in consolidated assets. Under specified circumstances, and with the written agreement of the Federal Reserve Board and other specified federal banking agencies, the CFPB may revoke such an
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Sponsored by: Rep. Ted Poe
Reported (amended) By The Committee On Financial Services. H. Rept. 115-885. on 08/03/2018
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Supporting America's Innovators Act of 2017 [S.444]
[Finance ]
[Small Business ]
[Technology and Innovation ]
[Investments ]
Supporting America's Innovators Act of 2017 (Sec. 2) This bill amends the Investment Company Act of 1940 to exempt from the definition of an "investment company," for purposes of specified limitations applicable to such a company under the Act, a qualifying venture capital fund that has no more than 250 investors. Specifically, the bill applies to a venture capital fund that has less than $10 million in aggregate capital contributions and uncalled committed capital. Under current law, a venture capital fund is considered to be an investment company
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Sponsored by: Sen. Mark Warner
Received In The House. on 09/12/2017