legislation: 105-hr-4808

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
105-hr-4808 105 hr 4808 Depository Institution-GSE Affiliation Act of 1998 Finance and Financial Sector 1998-10-12 1998-10-12 Referred to the Subcommittee on Financial Institutions and Consumer Credit. House Rep. Snowbarger, Vince [R-KS-3] KS R S000662 2 Depository Institution-GSE Affiliation Act of 1998 - Amends the Federal Deposit Insurance Act to specify circumstances under which the Secretary of the Treasury may: (1) approve an affiliation between a depository institution and the Student Loan Marketing Association (SALLIE MAE) solely in its reorganized, privatized status as "the Holding Company," not in its status as a government sponsored enterprise (GSE); and (2) impose affiliation terms and conditions, including constraints upon either the issuance of debt obligations by SALLIE MAE in its GSE status, or upon the use of proceeds from such obligations. (Current law prohibits affiliations between depository institutions and GSEs.) Limits the value of the investment portfolio of SALLIE MAE in its GSE status in the event such affiliation should occur to the lesser of: (1) its value upon enactment of this Act; or (2) its value on the date such affiliation is consummated. Grants the Secretary enforcement powers under the Higher Education Act of 1965. 2025-08-21T16:12:11Z  

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