Financial Crises And Stabilization
US Congress 114th Congress
Sound Dollar Act of 2015 [S.1848]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
[Inflation ]
Sound Dollar Act of 2015 This bill amends the Federal Reserve Act (FRA) to direct the Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) to: (1) pursue the goal of long-term price stability, and (2) establish metrics to evaluate whether long-term price stability is being achieved. The bill also prescribes procedures for the establishment and evaluation of such metrics. The Board and the FOMC shall: (1) make such information available to the public on a website, and (2) report to Congress each time such
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Sponsored by: Sen. Mike Lee
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 07/23/2015
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Consumer Financial Choice and Capital Markets Protection Act of 2015 [S.1802]
[Finance ]
[Consumer Protection ]
[Investments ]
Consumer Financial Choice and Capital Markets Protection Act of 2015 This bill amends the Investment Company Act of 1940 to authorize any open-end investment company to elect, in its registration statement, to be a money market fund and to compute the current price per share, for purposes of distribution or redemption and repurchase, of any redeemable security issued by the company using the amortized cost method of valuation or the penny-rounding method of pricing, regardless of whether its shareholders are limited to natural persons, if: the company's
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Sponsored by: Sen. Robert Menendez
Committee On Banking, Housing, And Urban Affairs Subcommittee On Securities, Insurance, And Investment. Hearings Held. on 05/19/2016
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Biennial Budgeting and Appropriations Act [S.150]
[Budget and Spending ]
Biennial Budgeting and Appropriations Act Amends the Congressional Budget Act of 1974 to require biennial (currently, annual) budget resolutions, biennial appropriations Acts, and biennial government strategic and performance plans. States that budget biennium is the two consecutive fiscal years beginning on October 1 of any odd-numbered year. Requires the Office of Management and Budget to report to Congress on the impact and feasibility of changing the definition of a fiscal year and the budget process based on that definition to a two-year fiscal
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Sponsored by: Sen. Susan Collins
Committee On The Budget. Hearings Held. on 11/04/2015
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Bailout Prevention Act of 2015 [S.1320]
[Finance ]
[Budget and Spending ]
[Small Business ]
[Consumer Protection ]
[Law Enforcement ]
[Economic Development ]
Bailout Prevention Act of 2015 This bill amends the Federal Reserve Act, with respect to the discounting of obligations arising out of actual commercial transactions, to declare a borrower ineligible to borrow from any emergency lending program or facility unless the Board of Governors of the Federal Reserve System and all federal banking regulators with jurisdiction over the borrower certify that, at the time the borrower initially borrows under the program or facility, the borrower is not insolvent. A borrower shall be deemed insolvent for such
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Sponsored by: Sen. Elizabeth Warren
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/13/2015
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US Congress 114th Congress
Too Big To Fail, Too Big To Exist Act [S.1206]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
[Economic Development ]
Too Big To Fail, Too Big To Exist Act This bill directs the Financial Stability Oversight Council to compile and submit to the Secretary of the Treasury a list of entities that the Council deems Too Big To Fail (List), including U.S. bank holding companies the Financial Stability Board has identified as systemically important banks. The Secretary of the Treasury shall: (1) submit the List to Congress and the President, and (2) break up entities on the List so that their failure would no longer cause a catastrophic effect upon the U.S. or global
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Sponsored by: Sen. Bernard Sanders
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/06/2015
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GAO Mandates Revision Act of 2016 [HB-5687]
[Finance ]
[Medicare and Medicaid ]
[Healthcare ]
[Consumer Protection ]
[Public Health ]
[Funding ]
[Grants ]
GAO Mandates Revision Act of 2016 (Sec. 2) This bill eliminates provisions that require the Government Accountability Office (GAO) to: review reported legislation that requires financial audits of nonfederal entities receiving federal awards; evaluate the extent to which premium levels for Medicare supplemental policies reflect reductions in coinsurance for hospital outpatient services made by the Medicare, Medicaid, and SCHIP Benefits Improvement and Protection Act of 2000 under part B (Supplementary Medical Insurance Benefits for Aged and Disabled)
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Sponsored by: Rep. Jody Hice
Became Public Law No: 114-301. on 12/16/2016
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US Congress 114th Congress
PROMESA Puerto Rico Oversight, Management, and Economic Stability Act [HB-5278]
[Budget and Spending ]
[Economic Development ]
[Funding ]
[Grants ]
[Infrastructure ]
[Labor, Jobs, Employment ]
[Pensions ]
[Small Business ]
[Taxes ]
[Trade ]
[Law Enforcement ]
PROMESA Puerto Rico Oversight, Management, and Economic Stability Act This bill addresses Puerto Rico's debt by establishing an oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects. (Sec. 2) The effective date of this bill is the date of enactment. Title III (Adjustments of Debts) only applies to cases commenced under it on or after the date of enactment. Titles III and VI (Creditor Collective Action) apply to all debts, claims, and liens, regardless of the creation date. (Sec.
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Sponsored by: Rep. F. James Sensenbrenner
Received In The Senate And Read Twice And Referred To The Committee On Energy And Natural Resources. on 06/13/2016
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PROMESA Puerto Rico Oversight, Management, and Economic Stability Act [HB-4900]
[Budget and Spending ]
[Economic Development ]
[Finance ]
[Funding ]
[Infrastructure ]
[Law Enforcement ]
[Public Safety ]
[Real Estate ]
[Taxes ]
[Community Development ]
PROMESA Puerto Rico Oversight, Management, and Economic Stability Act This bill addresses Puerto Rico's debt by establishing an oversight board, a process for restructuring debt, and expedited procedures for approving critical infrastructure projects. The bill establishes the Financial Oversight and Management Board to oversee the development of budgets and fiscal plans for Puerto Rico's instrumentalities and government. The board may issue subpoenas, certify voluntary agreements between creditors and debtors, seek judicial enforcement of its authority,
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Sponsored by: Rep. Sean Duffy
Referred To The Subcommittee On Regulatory Reform, Commercial And Antitrust Law. on 04/28/2016
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SAVE for Small Businesses Act Savings Accounts for a Variable Economy for Small Businesses Act [HB-4608]
[Small Business ]
[Taxes ]
[Labor, Jobs, Employment ]
[Economic Development ]
SAVE for Small Businesses Act Savings Accounts for a Variable Economy for Small Businesses Act This bill amends the Internal Revenue Code to: (1) provide for tax-exempt small business savings accounts, and (2) allow tax deductible contributions to such accounts of not more than 10% of the gross profits of an eligible small business (a business employing an average of 50 or fewer full-time employees) for the preceding taxable year. The bill excludes qualified distributions from such accounts from gross income for income tax purposes. A "qualified
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Sponsored by: Rep. Steve Israel
Introduced In House on 02/24/2016
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Puerto Rico Emergency Financial Stability Act of 2015 [HB-4290]
[Finance ]
[Budget and Spending ]
[Economic Development ]
Puerto Rico Emergency Financial Stability Act of 2015 This bill grants a temporary stay (until April 1, 2016, with specified exceptions) of any litigation, liens, or other collection actions to recover debts owed by the government of the Commonwealth of Puerto Rico and allows relief from such stay only in limited circumstances.
Sponsored by: Rep. Luis Gutierrez
Referred To The Subcommittee On Regulatory Reform, Commercial And Antitrust Law. on 01/15/2016
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FSOC Designation Review Act [HB-4248]
[Finance ]
[Budget and Spending ]
[Insurance ]
[Law Enforcement ]
FSOC Designation Review Act This bill amends the Financial Stability Act of 2010 to revise requirements for reevaluation and reaffirmation of determinations by the Financial Stability Oversight Council (FSOC) that the Board of Governors of the Federal Reserve System supervise and regulate U.S. or foreign nonbank financial companies. The FSOC shall reevaluate such a determination not only annually (as under current law) but also upon the request of a nonbank financial company based on its representation that there has been a material change in its
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Sponsored by: Rep. Gregory Meeks
Introduced In House on 12/15/2015
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US Congress 114th Congress
Consumer Financial Choice and Capital Markets Protection Act of 2015 [HB-4216]
[Finance ]
[Consumer Protection ]
[Investments ]
Consumer Financial Choice and Capital Markets Protection Act of 2015 This bill amends the Investment Company Act of 1940 to authorize any open-end investment company to elect, in its registration statement, to be a money market fund and to compute the current price per share, for purposes of distribution or redemption and repurchase, of any redeemable security issued by the company using the amortized cost method of valuation or the penny-rounding method of pricing, regardless of whether its shareholders are limited to natural persons, if: the company's
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Sponsored by: Rep. Alcee Hastings
Introduced In House on 12/10/2015
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To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require voting members of the Financial Stability Oversight Council to testify before Congress at least twice each year when requested to do so or to otherwise permit certain Members of Congress to attend meetings of the Council whether or not such meetings are open to the public. [HB-4210]
[Finance ]
[Consumer Protection ]
To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to require voting members of the Financial Stability Oversight Council to testify before Congress at least twice each year when requested to do so or to otherwise permit certain Members of Congress to attend meetings of the Council whether or not such meetings are open to the public. This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to: (1) require each voting member of the Financial Stability Oversight Council to testify at least twice each year
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Sponsored by: Rep. Roger Williams
Introduced In House on 12/10/2015
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Puerto Rico Financial Stability and Debt Restructuring Choice Act [HB-4199]
[Finance ]
[Budget and Spending ]
[Taxes ]
[Economic Development ]
[Funding ]
[Grants ]
Puerto Rico Financial Stability and Debt Restructuring Choice Act This bill establishes the Puerto Rico Financial Stability Council, subject to enactment of a law by the Legislative Assembly and the governor of Puerto Rico. For each fiscal year the governor of Puerto Rico shall develop a financial plan, and the Legislative Assembly shall develop a budget, that meet specified requirements to promote financial stability, and both shall submit them to the Council for its approval. The bill prescribes procedures for submission to the Council of revised
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Sponsored by: Rep. Alexander Mooney
Referred To The Subcommittee On Regulatory Reform, Commercial And Antitrust Law. on 01/15/2016
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SENIORS Act of 2015 Saving the Earnings and Noting the Investment of Our Retired Seniors Act of 2015 [HB-4140]
[Senior Citizens ]
[Social Security ]
[Budget and Spending ]
[Taxes ]
[Veterans ]
[Energy ]
[Children and Youth ]
SENIORS Act of 2015 Saving the Earnings and Noting the Investment of Our Retired Seniors Act of 2015 This bill expresses the sense of Congress on a cost-of-living increase to Social Security benefits for seniors. The Department of the Treasury shall disburse a one-time payment to certain individuals who are entitled to a benefit under title II (Old Age, Survivors and Disability Insurance) of the Social Security Act (SSAct), an annuity under the Railroad Retirement Act of 1974, or a veterans benefit, or are eligible for a cash benefit under SSAct
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Sponsored by: Rep. Leonard Lance
Referred To The Subcommittee On Energy And Power. on 12/04/2015
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FILES Act of 2015 Financial Institution Legislative Edict Simplification Act of 2015 [HB-3890]
[Finance ]
[Consumer Protection ]
[Small Business ]
FILES Act of 2015 Financial Institution Legislative Edict Simplification Act of 2015 This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exempt from specified titles of the Act "safe and sound financial institutions," including any depository institution, credit union, bank holding company, or savings and loan holding company having: total consolidated assets of less than $50 billion, and a composite CAMELS rating of 1 or 2 under the Uniform Financial Institutions Rating System (or under an equivalent rating under a
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Sponsored by: Rep. Curt Clawson
Introduced In House on 11/03/2015
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FSOC Transparency and Accountability Act [HB-3557]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
FSOC Transparency and Accountability Act (Sec. 2) This bill amends the Financial Stability Act of 2010 to repeal the nonapplicability of the Federal Advisory Committee Act (FACA) to the Financial Stability Oversight Council (thus applying FACA to the Council). The Council is declared an agency for purposes of the "Government in the Sunshine Act" (and its open meeting requirements). The voting profile of Council members is revised to cite the following member agencies as each having collectively one vote: (1) the Board of Governors of the Federal
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Sponsored by: Rep. Ann Wagner
Reported By The Committee On Financial Services. H. Rept. 114-507. on 04/19/2016
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Financial Stability Oversight Council Reform Act [HB-3340]
[Finance ]
[Cybersecurity ]
[Technology and Innovation ]
[Budget and Spending ]
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. (Sec. 2) 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.
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Sponsored by: Rep. Ted Poe
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/18/2016
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Sound Dollar Act of 2015 [HB-2913]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
[Taxes ]
[Economic Development ]
Sound Dollar Act of 2015 Amends the Federal Reserve Act (FRA) to direct the Board of Governors of the Federal Reserve System (Board) and the Federal Open Market Committee (FOMC) to: (1) pursue the goal of long-term price stability, and (2) establish metrics to evaluate whether long-term price stability is being achieved. Prescribes procedures for the establishment and evaluation of such metrics. Directs the Board and the FOMC to: (1) make such information available to the public on a website, and (2) report to Congress each time such metrics are
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Sponsored by: Rep. Rod Blum
Introduced In House on 06/25/2015
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US Congress 114th Congress
Bailout Prevention Act of 2015 [HB-2625]
[Finance ]
[Budget and Spending ]
Bailout Prevention Act of 2015 This bill amends the Federal Reserve Act, with respect to the discounting of obligations arising out of actual commercial transactions, to declare a borrower ineligible to borrow from any emergency lending program or facility unless the Board of Governors of the Federal Reserve System and all federal banking regulators with jurisdiction over the borrower certify that, at the time the borrower initially borrows under the program or facility, the borrower is not insolvent. A borrower shall be deemed insolvent for such
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Sponsored by: Rep. Michael Capuano
Introduced In House on 06/03/2015