legislation
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193 rows where congress = 108 and policy_area = "Finance and Financial Sector" sorted by introduced_date descending
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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 |
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| 108-hr-5410 | 108 | hr | 5410 | Consumer Checking Account Fairness Act | Finance and Financial Sector | 2004-11-19 | 2004-11-19 | Referred to the House Committee on Financial Services. | House | Rep. Maloney, Carolyn B. [D-NY-14] | NY | D | M000087 | 8 | Consumer Checking Account Fairness Act - Amends the Expedited Funds Availability Act to direct the Board of Governors of the Federal Reserve System to prescribe regulations to: (1) reduce the expedited funds availability time periods to take into account the time within which any receiving institution can reasonably expect to learn of the nonpayment of most items for each category of checks under the Checking Clearing for the 21st Century Act (Check 21 Act) or its implementing regulations; or (2) eliminate distinctions between the time period schedules if the Board finds that they no longer have any significance for any category of checks under such Act or regulations. Extends the next business day availability requirement to funds deposited at a proprietary ATM. Sets a limit upon certain overdraft fees imposed during a check hold period. Requires a depository institution to credit all deposits to a consumer checking account before debiting any check drawn on the account and presented for payment. Requires that Saturday be treated as a business day in the calculation of any period within which funds deposited in an account are required to be made available if the depository institution debits accounts on Saturdays for checks received. Reduces from four business days to two business days the mandatory check hold period on funds deposited by nonlocal checks. Prohibits a depository institution from imposing a fee for paying any check drawn on an account which lacks sufficient funds (bounce protection) unless the accountholder has requested check protection service. Amends the Check 21 Act to provide that if a bank that holds the account of a consumer imposes any fee for producing a copy of a substitute check, the expedited recredit process shall be available for all charges against the account without regard to whether a substitute check was involved or not. | 2023-01-14T22:48:32Z | |
| 108-s-2969 | 108 | s | 2969 | Fair Gift Card Act | Finance and Financial Sector | 2004-10-09 | 2004-10-09 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10986-10987) | Senate | Sen. Schumer, Charles E. [D-NY] | NY | D | S000148 | 0 | Fair Gift Card Act - States it is unlawful for any person to impose a dormancy fee, inactivity charge or fee, or a service fee with respect to a gift certificate, store gift card, or general-use prepaid card. Exempts from this prohibition any such charge or fee if: (1) the certificate or card has a remaining value of $5 or less at the time the charge or fee is assessed; (2) the charge or fee does not exceed $1; (3) there has been no activity with respect to the certificate or card for at least the last 24 months; (4) the holder of the certificate or the card may reload or add value to the certificate or the card; and (5) specified charge or fee disclosure requirements have been met. Declares it is unlawful to sell or issue a gift certificate, store gift card, or general-use prepaid card that is subject to an expiration date unless the date is not less than five years from the date the card is purchased and the expiration terms are prominently disclosed in specified font size and in all capital letters. States that a violation of this Act shall be treated as a violation of a rule defining an unfair or deceptive act or practice prescribed under the Federal Trade Commission Act. | 2023-01-14T22:48:34Z | |
| 108-s-2973 | 108 | s | 2973 | Preservation of Federalism in Banking Act | Finance and Financial Sector | 2004-10-09 | 2004-10-09 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10989) | Senate | Sen. Corzine, Jon S. [D-NJ] | NJ | D | C001042 | 5 | Preservation of Federalism in Banking Act - Amends the Revised Statutes of the United States to set forth State law preemption standards for national banks and their subsidiaries. Declares that any State: (1) consumer law of general application (including any law relating to unfair or deceptive acts or practices and any consumer fraud law) shall also apply to any national bank; and (2) law applicable to State banks shall also apply to any national bank if it was enacted pursuant to, or consistent with, Federal law permitting the States to exceed or supplement Federal law requirements. Prohibits construction of Federal law governing visitorial powers, or otherwise limiting or restricting the supervisory, examination, or regulatory authority to which any national bank is subject, as limiting or restricting the authority of a State attorney general to enforce: (1) any applicable Federal or State law; or (2) on behalf of residents of such State, any applicable provision of any Federal or State law against a national bank, or seek relief and recover damages for such residents from any violation of any such law by any national bank. Prohibits construction of Federal law governing nondepository institution subsidiaries of national banks as preempting the applicability of State law to any State-chartered nondepository institution subsidiary of a national bank, except to the extent the preemption is explicitly provided by an Act of Congress. Directs the Comptroller of the Currency to record and monitor each complaint received from a consumer regarding a national bank or any subsidiary of a national bank as well as the resolution of the complaint. | 2023-01-14T22:48:34Z | |
| 108-hr-5313 | 108 | hr | 5313 | Corporate Advance Disclosure Act of 2004 | Finance and Financial Sector | 2004-10-08 | 2004-11-03 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Everett, Terry [R-AL-2] | AL | R | E000268 | 0 | Corporate Advance Disclosure Act of 2004 - Amends the Securities Exchange Act of 1934 to require that: (1) an issuer provide to the Securities and Exchange Commission 60 days notice in advance of any action that creates, substantially increases, or funds a non-qualified pension plan for which any director or executive officer of the issuer is the beneficiary; and (2) the notice separately state each creation, increase, or funding with respect to each such director or officer. | 2023-01-14T22:48:40Z | |
| 108-hr-5315 | 108 | hr | 5315 | International Remittance Consumer Protection Act of 2004 | Finance and Financial Sector | 2004-10-08 | 2004-11-03 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Gutierrez, Luis V. [D-IL-4] | IL | D | G000535 | 18 | International Remittance Consumer Protection Act of 2004 - Amends the Electronic Fund Transfer Act to require a remittance transfer provider to: (1) clearly and conspicuously make specified disclosures in writing and in a form that the consumer may keep to each consumer requesting a remittance transfer; and (2) make such disclosures in English and in the same languages principally used by the remittance transfer provider, or its agents at that office, if other than English. Prescribes error resolution guidelines and remedies governing remittance transfer errors. Instructs the Secretary of the Treasury to publish electronically on each business day the foreign currencies dollar exchange rate. Amends the Federal Credit Union Act to empower Federal Credit Unions to: (1) provide remittance transfers to persons in the field of membership; and (2) cash checks and money orders for such persons for a fee. Directs the Board of Governors of the Federal Reserve System to work with the Federal reserve banks to expand the use of the automated clearinghouse system for remittance transfers to foreign countries. Requires certain Federal banking agencies to provide guidelines to financial institutions offering low-cost remittance transfers and no-cost or low-cost basic consumer accounts, as well as agency services to remittance transfer providers. Requires such agencies and the Secretary to assist the Financial Literacy and Education Commission in improving the financial literacy and education of consumers who send remittances. Amends the Foreign Assistance Act of 1961 to direct the President, acting through the Administrator of the U.S. Agency for International Development, to provide assistance to leverage personal remittances and reduce the cost of remittances sent to Latin America and the Caribbean. Amends the Inter-American Development Bank Act to direct the Secretary of the Treasury to instruct the U.S. Executive Director at the Inter-American Development Bank to use the U.S. voice, vote, and influence to urge the Bank, am… | 2023-01-14T22:48:40Z | |
| 108-hr-5251 | 108 | hr | 5251 | Preservation of Federalism in Banking Act | Finance and Financial Sector | 2004-10-07 | 2004-11-03 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Frank, Barney [D-MA-4] | MA | D | F000339 | 25 | Preservation of Federalism in Banking Act - Amends the Revised Statutes of the United States to set forth State law preemption standards for national banks and their subsidiaries. Declares that any State: (1) consumer law of general application (including any law relating to unfair or deceptive acts or practices and any consumer fraud law) shall also apply to any national bank; and (2) law applicable to State banks shall also apply to any national bank if it was enacted pursuant to, or consistent with, Federal law permitting the States to exceed or supplement Federal law requirements. Prohibits construction of Federal law governing visitorial powers, or otherwise limiting or restricting the supervisory, examination, or regulatory authority to which any national bank is subject, as limiting or restricting the authority of a State attorney general to enforce: (1) any applicable Federal or State law; or (2) on behalf of residents of such State, any applicable provision of any Federal or State law against a national bank, or seek relief and recover damages for such residents from any violation of any such law by any national bank. Prohibits construction of Federal law governing nondepository institution subsidiaries of national banks as preempting the applicability of State law to any State-chartered nondepository institution subsidiary of a national bank, except to the extent the preemption is explicitly provided by an Act of Congress. Directs the Comptroller of the Currency to record and monitor each complaint received from a consumer regarding a national bank or any subsidiary of a national bank as well as the resolution of the complaint. | 2023-01-14T22:48:41Z | |
| 108-s-2905 | 108 | s | 2905 | Military Personnel Financial Services Protection Act | Finance and Financial Sector | 2004-10-06 | 2004-10-06 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Enzi, Michael B. [R-WY] | WY | R | E000285 | 4 | Military Personnel Financial Services Protection Act - Amends the Investment Company Act of 1940 to state it is unlawful: (1) for any registered investment company to issue any periodic payment plan certificate; or (2) for such company or any other person to sell such a certificate. Amends the Securities Exchange Act of 1934 to require a registered securities association to establish a system for collecting and retaining registration, disciplinary, and other information, including a toll-free telephone listing for prompt response to inquiries regarding registration information on members. Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to require an investment adviser to file with the SEC, through any designated entity, any fee, application, report, or notice required to be filed. Directs the SEC to require such entity to establish and maintain a toll-free telephone listing, or a readily accessible electronic or other process, to receive and promptly respond to inquiries regarding registration, disciplinary, and other information involving investment advisers and associated persons. States that any State law, regulation, or order regarding the business of insurance shall apply to insurance activities conducted on Federal land or facilities in the United States and abroad, including military installations, unless specified conditions exist. Prohibits an insurer or producer from selling or soliciting in person any life insurance product to any member of the Armed Forces on a Federal military installation, unless specified written disclosures have been provided before the sale. Expresses the sense of Congress that the National Association of Insurance Commissioners should study and report to certain congressional committees on ways of improving the quality and sale of life insurance products sold by insurers and producers on Federal military installations. Prohibits any insurer from contracting with an insurance producer that solicits or sells life insurance on U… | 2023-01-14T22:48:36Z | |
| 108-hr-5195 | 108 | hr | 5195 | To permanently reenact chapter 12 of title 11 of the United States Code, relating to family farmers. | Finance and Financial Sector | 2004-09-30 | 2004-11-05 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Smith, Nick [R-MI-7] | MI | R | S000597 | 9 | Reenacts permanently chapter 12 (Adjustments of Debts of a Family Farmer) of the Federal bankruptcy code, as reenacted by division C of the Omnibus Consolidated and Emergency Supplemental Appropriations Act 1999. | 2023-01-13T22:01:44Z | |
| 108-s-2868 | 108 | s | 2868 | International Remittance Consumer Protection Act of 2004 | Finance and Financial Sector | 2004-09-30 | 2004-09-30 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10065-10067) | Senate | Sen. Sarbanes, Paul S. [D-MD] | MD | D | S000064 | 8 | International Remittance Consumer Protection Act of 2004 - Amends the Electronic Fund Transfer Act to require a remittance transfer provider to: (1) clearly and conspicuously make specified disclosures in writing and in a form that the consumer may keep to each consumer requesting a remittance transfer; and (2) make such disclosures in English and in the same languages principally used by the remittance transfer provider, or its agents at that office, if other than English. Prescribes error resolution guidelines and remedies governing remittance transfer errors. Instructs the Secretary of the Treasury to publish electronically on each business day the foreign currencies dollar exchange rate. Subjects a remittance transfer provider to liability for violations committed by its agents or subsidiaries. Amends the Federal Credit Union Act to empower Federal Credit Unions to: (1) provide remittance transfers to persons in the field of membership; and (2) to cash checks and money orders for such persons for a fee. Directs the Board of Governors of the Federal Reserve System to work with the Federal reserve banks to expand the use of the automated clearinghouse system for remittance transfers to foreign countries. Requires certain Federal banking agencies to provide guidelines to financial institutions regarding the offering of low-cost remittance transfers and no-cost or low-cost basic consumer accounts, as well as agency services to remittance transfer providers. Requires such agencies and the Secretary to assist the Financial Literacy and Education Commission in improving the financial literacy and education of consumers who send remittances. | 2023-01-14T22:48:45Z | |
| 108-hr-5167 | 108 | hr | 5167 | Protection of Family Farmers Act of 2004 | Finance and Financial Sector | 2004-09-29 | 2004-11-05 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Baldwin, Tammy [D-WI-2] | WI | D | B001230 | 21 | Protection of Family Farmers Act of 2004 - Amends the Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999 to extend for 18 additional months (until July 1, 2005) the period for which chapter 12 of the Federal Bankruptcy Code (Adjustments of Debts of a Family Farmer) is reenacted. States that such extension shall take effect on January 1, 2004. | 2023-01-13T22:01:44Z | |
| 108-s-2864 | 108 | s | 2864 | Family Farmer Bankruptcy Relief Act of 2004 | Finance and Financial Sector | 2004-09-29 | 2004-10-25 | Became Public Law No: 108-369. | Senate | Sen. Grassley, Chuck [R-IA] | IA | R | G000386 | 5 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Family Farmer Bankruptcy Relief Act of 2004 - Amends the Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999, to extend for 18 additional months (until July 1, 2005) the period for which chapter 12 of the Federal Bankruptcy Code (Adjustments of Debts of a Family Farmer) is reenacted. States that such extension shall take effect on January 1, 2004. | 2023-01-14T22:48:37Z | |
| 108-hr-5138 | 108 | hr | 5138 | Fair Credit Card Interest Rate Act | Finance and Financial Sector | 2004-09-23 | 2004-10-07 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Bell, Chris [D-TX-25] | TX | D | B001241 | 0 | Fair Credit Card Interest Rate Act - Amends the Truth in Lending Act to prohibit a creditor during any calendar quarter from imposing a finance charge under an open end consumer credit plan involving a credit card which results in an annual percentage rate greater than ten percentage points over the most recent composite prime rate published in the Wall Street Journal before the beginning of the ten-business-day period ending on the first day of such calendar quarter (thus setting a ceiling on credit card interest rates) . | 2023-01-13T22:01:45Z | |
| 108-s-2817 | 108 | s | 2817 | Abraham Lincoln Bicentennial 1-Cent Coin Redesign Act | Finance and Financial Sector | 2004-09-21 | 2004-09-21 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Durbin, Richard J. [D-IL] | IL | D | D000563 | 4 | Abraham Lincoln Bicentennial 1-Cent Coin Redesign Act - Instructs the Secretary of the Treasury to issue 1-cent coins during 2009, in accordance with the following design specifications: (1) the obverse of the 1-cent coin shall continue to bear the Victor David Brenner likeness of President Abraham Lincoln; and (2) the reverse of the coins shall bear four different designs each representing a different aspect of the life of Abraham Lincoln.. Mandates that: (1) beginning at the start of each calendar quarter of 2009, the redesigned Lincoln cents bear one of such four designs; and (2) the design on the reverse of the 1-cent coins issued after 2009, bear an image emblematic of President Lincoln's preservation of the United States of America as a single and united country. Expresses the sense of Congress that the original Victor David Brenner design for the 1-cent coin was a dramatic departure from previous American coinage that should be reproduced, using the original form and relief of the likeness of Abraham Lincoln, on the 1-cent coins issued in 2009. | 2023-01-14T22:48:46Z | |
| 108-hr-5097 | 108 | hr | 5097 | Close the Bank Examiner Revolving Door Act | Finance and Financial Sector | 2004-09-15 | 2004-10-07 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Gutierrez, Luis V. [D-IL-4] | IL | D | G000535 | 1 | Close the Bank Examiner Revolving Door Act - Amends the Federal Deposit Insurance Act to prohibit certain former Federal bank examiners and other banking supervisory personnel from holding office, position, or employment at a depository institution during the one-year period following cessation of their Federal service. Mandates forfeiture of Federal retirement and other benefits for violations of this Act. Requires the head of any Federal banking agency to report such a violation to the Director of the Office of Personnel Management. | 2023-01-13T22:01:47Z | |
| 108-hr-5098 | 108 | hr | 5098 | Comptroller of the Currency Accountability Act | Finance and Financial Sector | 2004-09-15 | 2004-10-07 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Gutierrez, Luis V. [D-IL-4] | IL | D | G000535 | 0 | Comptroller of the Currency Accountability Act -Amends Federal law to prohibit the Comptroller of the Currency from incurring any obligation for administrative expenses in carrying out authorized activities for any fiscal year in excess of the amount provided in advance in an appropriation Act. | 2023-01-13T22:01:47Z | |
| 108-hr-5060 | 108 | hr | 5060 | College Student Credit Card Protection Act | Finance and Financial Sector | 2004-09-09 | 2004-10-07 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Slaughter, Louise McIntosh [D-NY-28] | NY | D | S000480 | 1 | College Student Credit Card Protection Act - Amends the Truth in Lending Act to limit by a specified formula the total credit extended under a credit card account to a full time, traditional-aged college student (unless the student's parent or guardian assumes joint liability). Prohibits increasing the credit limit on an account for which a parent or guardian has assumed joint liability without the parent's or guardian's approval. Prohibits a creditor from opening a credit card account for any such college student who: (1) has no annual gross income; and (2) already has a credit card account under an open end consumer credit plan. | 2023-01-13T22:01:48Z | |
| 108-hr-5031 | 108 | hr | 5031 | Community Credit Card Bank Act of 2004 | Finance and Financial Sector | 2004-09-08 | 2004-10-04 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Nethercutt, George R., Jr. [R-WA-5] | WA | R | N000051 | 0 | Community Credit Card Bank Act of 2004 - Amends the Bank Holding Company Act of 1956 with respect to exclusion from coverage as a bank of an institution, including one that accepts collateral for extensions of credit by holding deposits under $100,000, and by other means, which: (1) engages only in credit card operations; (2) does not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others; (3) does not accept any savings or time deposit of less than $100,000; (4) maintains only one office that accepts deposits; and (5) does not engage in the business of making commercial loans. Declares that an institution shall not be treated as engaging in the business of making commercial loans solely on the basis of issuing or servicing commercial credit card accounts that constitute no more than ten percent of their credit card receivables, if: (1) it has total assets of less than $1 million; (2) it was chartered before June 1, 1998; (3) at least 80 percent of its credit card receivables have either been acquired in portfolio purchases from unaffiliated insured depository institutions, or issued through unaffiliated insured depository institutions as agents of such institutions; and (4) it issues or services commercial credit card loans that constitute, in the aggregate, not more than 10 percent of its credit card receivables. (Thus applies the exclusion from coverage by the Bank Holding Company Act of 1956 to certain limited purpose credit card banks serving community banks.) | 2023-01-13T21:46:41Z | |
| 108-hr-5011 | 108 | hr | 5011 | Military Personnel Financial Services Protection Act | Finance and Financial Sector | 2004-09-07 | 2004-10-06 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Burns, Max [R-GA-12] | GA | R | B001249 | 8 | Military Personnel Financial Services Protection Act - (Sec. 3) Amends the Investment Company Act of 1940 to make it unlawful: (1) for any registered investment company to issue any periodic payment plan certificate; or (2) for such company or any depositor or underwriter of such company, or other person, to sell such a certificate. States that existing certificates are not invalidated. Directs the Securities and Exchange Commission (SEC) to report to specified congressional committees on: (1) any measures taken by a registered broker or dealer voluntarily to refund payments made by military service members on any periodic payment plan certificate, and the amounts of such refunds; (2) the sales practices of such brokers or dealers on military installations over the past five years and any legislative or regulatory recommendations to improve such practices; and (3) the revenues generated by such brokers or dealers in certificate sales over such period, and what products such brokers or dealers market to replace the revenue generated from those sales which are now prohibited. (Sec. 4) Amends the Securities Exchange Act of 1934 to require a registered securities association to establish and maintain: (1) a system for collecting and retaining broker/dealer registration information; and (2) a toll-free telephone listing, and a readily accessible process to respond promptly to inquiries regarding registration information on its members and their associated persons, including any other registered national securities exchange that uses such system for registration of its members. Requires a registered securities association to adopt rules governing the process for making such inquiries in consultation with any registered national securities exchange providing such information. Permits such associations to charge reasonable fees for responses to such inquiries, except to individual investors. Requires a registered securities association to adopt rules establishing an administrative process for disputing the accuracy of in… | 2023-01-14T22:48:43Z | |
| 108-hr-5012 | 108 | hr | 5012 | Abraham Lincoln Bicentennial 1-Cent Coin Redesign Act | Finance and Financial Sector | 2004-09-07 | 2004-10-04 | Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. | House | Rep. LaHood, Ray [R-IL-18] | IL | R | L000552 | 1 | Abraham Lincoln Bicentennial 1-Cent Coin Redesign Act - Directs the Secretary of the Treasury, during 2009, to issue one-cent coins with the reverse side bearing four different designs representing different aspects of the life of Abraham Lincoln. | 2023-01-13T21:46:42Z | |
| 108-s-2744 | 108 | s | 2744 | Presidential $1 Coin Act of 2004 | Finance and Financial Sector | 2004-07-22 | 2004-07-22 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Sununu, John E. [R-NH] | NH | R | S001078 | 30 | Presidential $1 Coin Act of 2004 - Amends Federal monetary law to set forth requirements for the redesign and issuance of circulating $1 coins emblematic of each President of the United States. Prohibits inclusion of a President who has not completed his or her term of service (sitting President). Instructs the Secretary of the Treasury to issue during the same period in which such $1 coins are issued commemorative coins emblematic of the spouse of each deceased former President so honored. Mandates that all Federal agencies and instrumentalities and entities that operate any business on Federal premises (including vending machines) take action to ensure that business operations they conduct that involve coins or currency shall be fully capable of accepting and dispensing $1 coins in connection with such operations. Expresses the sense of Congress about the issuance of such coins. | 2023-01-14T22:48:26Z | |
| 108-s-2755 | 108 | s | 2755 | Credit Card Accountability Responsibility and Disclosure Act of 2004 | Finance and Financial Sector | 2004-07-22 | 2004-07-22 | Referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Dodd, Christopher J. [D-CT] | CT | D | D000388 | 0 | Credit Card Accountability Responsibility and Disclosure Act of 2004, or the Credit Card Act of 2004 - Amends the Truth in Lending Act (TILA) to require advance notice of any increase in interest rate regarding a credit card account under an open end consumer credit plan. Grants the credit card holder the right to cancel the account before the effective date of the increase. Prohibits penalties, finance charges, interest charges, or cancellations from being imposed for: (1) on-time payments; (2) payments in full; or (3) over-the-limit fees for creditor-approved transactions. Requires specified disclosures for annual percentage rates of interest that only exist for a limited time (introductory or "teaser" rates). Requires certain disclosures regarding: (1) pay-off timing in connection with repayment of the outstanding balance; and (2) late payment deadlines and relevant postmark dates. Amends Federal bankruptcy law to provide that debts under an open end credit plan incurred on or within 60 days before the order for relief are not subject to statutory exceptions to a discharge in bankruptcy if the annual rate of interest charged on the account was more than 20 percentage points above the Federal prime lending rate on the last day of month during which the interest was charged (thus providing the debtor with a legal means of avoiding an abusive rate of interest). Amends TILA to set forth specified requirements governing credit card applications from underage consumers. Subjects creditor violations relating to an open end credit plan that is not secured by real property or a dwelling to twice the amount of any finance charge in connection with the transaction, or to such amount as may be appropriate in the case of an established pattern or practice of such violations. | 2023-01-14T22:48:25Z | |
| 108-s-2764 | 108 | s | 2764 | Terrorism Risk Insurance Extension Act of 2004 | Finance and Financial Sector | 2004-07-22 | 2004-07-22 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Dodd, Christopher J. [D-CT] | CT | D | D000388 | 22 | Terrorism Insurance Extension Act of 2004 - Amends the Terrorism Risk Insurance Act of 2002 (TRIA) to extend the terrorism risk insurance program from 2005 through 2007. Repeals the condition on the authority of the Secretary of the Treasury to pay or adjust compensation for insured losses after termination of the program that limits such losses to those arising from an act of terrorism occurring only during the period in which the program was in effect. Defines "Program Year 4" as calendar 2006 and "Program Year 5" as calendar 2007. Increases the insurance marketplace aggregate retention amount for Program Years 4 and 5. Directs the Secretary to apply TRIA to providers of group life insurance. Instructs the Presidential Working Group on Financial Markets to report to Congress its recommendations for legislation to address the long-term availability and affordability of insurance for terrorism risk. | 2023-01-14T22:48:25Z | |
| 108-sres-412 | 108 | sres | 412 | A resolution expressing the sense of the Senate regarding the importance of maintaining the independence and integrity of the Financial Accounting Standards Board. | Finance and Financial Sector | 2004-07-20 | 2004-07-20 | Referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S8485) | Senate | Sen. Fitzgerald, Peter [R-IL] | IL | R | F000442 | 3 | Declares that the Senate: (1) should continue to recognize and support the integrity and independence of the accounting standard setting process of the Financial Accounting Standards Board; (2) should not interfere with the Board's independence; and (3) should not dictate accounting standards to the Board for stock-based compensation or for any other financial accounting issue. | 2023-01-13T21:31:58Z | |
| 108-s-2641 | 108 | s | 2641 | Bison Nickel Restoration Act of 2004 | Finance and Financial Sector | 2004-07-13 | 2004-07-13 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S8031-8032) | Senate | Sen. Enzi, Michael B. [R-WY] | WY | R | E000285 | 1 | Bison Nickel Restoration Act of 2004 - Amends the American 5-Cent Coin Design Continuity Act of 2003 concerning the redesigning of the nickel. | 2023-01-14T22:48:23Z | |
| 108-s-2626 | 108 | s | 2626 | District of Columbia and United States Territories Circulating Quarter Dollar Program Act | Finance and Financial Sector | 2004-07-08 | 2004-07-08 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Nelson, Bill [D-FL] | FL | D | N000032 | 0 | District of Columbia and United States Territories Circulating Quarter Dollar Program Act - Authorizes the Secretary of the Treasury to issue during 2009 redesigned quarter dollars commemorating the District of Columbia and the U.S. Territories. | 2023-01-14T22:48:24Z | |
| 108-hr-4772 | 108 | hr | 4772 | Terrorism Risk Insurance Program Extension Act of 2004 | Finance and Financial Sector | 2004-07-07 | 2004-08-03 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Capuano, Michael E. [D-MA-8] | MA | D | C001037 | 75 | Terrorism Risk Insurance Program Extension Act of 2004 - Amends the Terrorism Risk Insurance Act of 2002 to extend the terrorism risk insurance program through December 31, 2008. Restricts "insured loss" with respect to the Final Program Year to certain losses covered by property and casualty insurance issued before January 1, 2008, and expiring not later than December 31, 2008. Sets forth an insurer deductible that is the value of an insurer's direct earned premiums multiplied by 15 percent for Program Years 3, 4, and 5, and for the Final Program Year. Redefines "insured loss" to include group life insurance coverage. | 2023-01-14T22:48:15Z | |
| 108-hr-4719 | 108 | hr | 4719 | Mortgage Market Protection Act of 2004 | Finance and Financial Sector | 2004-06-25 | 2004-08-03 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Baker, Richard H. [R-LA-6] | LA | R | B000072 | 2 | Mortgage Market Protection Act of 2004 - Amends the Truth in Lending Act governing liability of a creditor assignee to redefine a "violation on the face of the disclosure statement" as one where: (1) the disclosure can be determined to be incomplete or inaccurate from a comparison of any disclosure provided pursuant to specified statutory criteria; or (2) credit disclosures do not contain the terms required by such criteria. Repeals a consumer's right to rescind a credit transaction as against an assignee. Extends joint and several liability to the mortgage assignee, the original creditor, and prior or subsequent assignees for material violations committed by the original creditor, to the extent that the violation is apparent on the face of the disclosure. Revises the limitation on damages to: (1) provide that a cause of action for a liability may be asserted by the borrower only in an individual action; (2) limit the amount of relief to the total amount that the borrower has paid in connection with the loan, including reasonable attorney's fees; (3) bar such action from being brought after the end of the three-year period beginning on the date of the violation giving rise to the liability; and (4) provide that such cause of action shall constitute the exclusive remedy of the consumer against an assignee of a mortgage. Denies a consumer the right to void or rescind high cost mortgages as against an assignee of such mortgage. Repeals assignee liability for consumer credit transactions secured by real property. | 2023-01-15T04:49:18Z | |
| 108-s-2602 | 108 | s | 2602 | District of Columbia and United States Territories Circulating Quarter Dollar Program Act | Finance and Financial Sector | 2004-06-24 | 2004-06-24 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR 6/25/2004 S7481) | Senate | Sen. Dodd, Christopher J. [D-CT] | CT | D | D000388 | 34 | District of Columbia and United States Territories Circulating Quarter Dollar Program Act - Authorizes the Secretary of the Treasury to issue during 2009 redesigned quarter dollars commemorating the District of Columbia and the U.S. Territories. | 2023-01-15T04:49:23Z | |
| 108-hr-4634 | 108 | hr | 4634 | Terrorism Insurance Backstop Extension Act of 2004 | Finance and Financial Sector | 2004-06-22 | 2004-11-18 | Placed on the Union Calendar, Calendar No. 478. | House | Rep. Sessions, Pete [R-TX-32] | TX | R | S000250 | 100 | Terrorism Insurance Backstop Extension Act of 2004 - Amends the Terrorism Risk Insurance Act of 2002 to define: (1) the term "Program Year 4" as the period from January 1, 2006, through December 31, 2006; and (2) the term "Program Year 5" as the period from January 1, 2007, through December 31, 2007 (thereby extending the terrorism risk insurance program from 2005 through 2007). Sets a deadline for the Secretary of the Treasury to make a final determination regarding: (1) the availability of group life insurance to both insurers and consumers; and (2) whether certain provisions of the Act shall be applied to providers of group life insurance. Sunsets the Terrorism Risk Insurance Program after December 31, 2007. | 2023-01-15T04:49:16Z | |
| 108-hr-4505 | 108 | hr | 4505 | Mutual Fund Reform Act of 2004 | Finance and Financial Sector | 2004-06-03 | 2004-06-28 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Gillmor, Paul E. [R-OH-5] | OH | R | G000210 | 0 | Mutual Fund Reform Act of 2004 - Amends the Investment Company Act of 1940 to: (1) reduce from 60 percent to 25 percent the maximum number of interested persons serving on the board of directors of a registered investment company; and (2) prohibit an interested person of such company from serving as chairman of such board of directors. States that a fiduciary duty is owed by: (1) the board of directors to act with loyalty and care in the best interests of shareholders; and (2) an investment adviser to supply material information necessary for independent directors to review and govern the company. Revises guidelines governing independent accounting and auditing. Directs the SEC to require adoption of a code of ethics by a registered investment company and by its investment advisers and principal underwriters. Directs the SEC to require each senior executive officer of an investment adviser to certify in periodic reports to shareholders that specified procedures are in place to verify compliance with transparency and specified ethical considerations. Grants whistleblower protection for employees of publicly traded companies and registered investment companies. Directs the SEC to develop standardized disclosures for: (1) expense and transaction cost ratios; (2) cost structures; (3) investment adviser compensation; (4) point of sale; and (5) additional disclosures of broker compensation. Repeals Rule 12b-1 fees (asset-based distribution expenses paid by investors). Prohibits: (1) revenue sharing; (2) directed brokerage fees; (3) soft dollar arrangements; (4) short-term trading; and (5) joint management of mutual funds and hedge funds. | 2023-01-15T04:49:12Z | |
| 108-s-2497 | 108 | s | 2497 | Small Investor Protection Act of 2004 | Finance and Financial Sector | 2004-06-03 | 2004-06-03 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Lieberman, Joseph I. [D-CT] | CT | D | L000304 | 0 | Small Investor Protection Act of 2004 - Establishes the Division of the Investor within the Securities and Exchange Commission (SEC) to: (1) serve as advocate for individual investors, including serving as liaison between investor advocacy organizations and the SEC; and (2) assist and educate individual investors by performing the functions previously performed by the Director of the Office of Investor Education and Assistance (previously known as the Office of Consumer Affairs), paying particular attention to the needs and interests of small investors. Establishes the Office of Risk Assessment within the SEC to: (1) assess industry practices within the jurisdiction of the SEC to identify any risks associated with those practices that could most likely harm investors and the public; and (2) develop strategies to address and mitigate such risks, and prevent or lessen the potential harm to investors and the public. Requires the Commission, whenever it considers requiring significant disclosures to investors (whether in advertising, on web sites, or in documents required by law or regulation), to consider and give weight to empirical evidence as to: (1) whether the proposed disclosure as a whole is likely to improve meaningfully individual investor understanding to assist investors in making wise financial decisions; and (2) whether alternative disclosures would be more effective in improving investor understanding. Amends the Investment Company Act of 1940 to declare that it shall be unlawful for an open-end registered investment company to offer its securities for sale, unless, prior to completion of the sale, it provides investors with a summary of relevant characteristics of the investment, including information on expenses, risk, and diversification, and any other information that the SEC determines will assist investors in making wise financial decisions. | 2023-01-15T04:49:20Z | |
| 108-s-2475 | 108 | s | 2475 | Credit Card Minimum Payment Warning Act | Finance and Financial Sector | 2004-05-21 | 2004-05-21 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6095-6096) | Senate | Sen. Akaka, Daniel K. [D-HI] | HI | D | A000069 | 3 | Credit Card Minimum Payment Warning Act - Amends the Truth in Lending Act to include among the mandatory disclosures at each billing cycle of open end consumer credit plans: (1) the words "Minimum Payment Warning: Making only the minimum payment will increase the amount of interest that you pay and the time it will take to repay your outstanding balance;" ( 2) the number of years and months it would take the consumer to pay the entire amount of the balance if the consumer pays only the required minimum monthly payments; ( 3) the total cost to the consumer, as well as a breakdown in principal and interest payments, of paying that balance in full if the consumer pays only the required minimum monthly payments, and if no further advances are made; (4) the monthly payment amount that would be required to eliminate the outstanding balance in 36 months if no further advances are made; and (5) a toll-free telephone number for information about accessing credit counseling and debt management services. Directs the Board of Governors of the Federal Reserve System and the Federal Trade Commission to issue jointly guidelines for creditors to establish and maintain a toll-free telephone number for such disclosures. | 2023-01-15T04:49:07Z | |
| 108-hr-4348 | 108 | hr | 4348 | Financial Services for All Act | Finance and Financial Sector | 2004-05-12 | 2004-06-09 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Baca, Joe [D-CA-43] | CA | D | B001234 | 14 | Financial Services for All Act - Amends the Federal Credit Union Act to empower a Federal Credit Union to sell or provide electronic fund transfers, as well as receive them, for a fee. | 2023-01-15T04:49:00Z | |
| 108-hr-4236 | 108 | hr | 4236 | To provide for congressional disapproval of certain regulations issued by the Comptroller of the Currency, in accordance with section 802 of title 5, United States Code. | Finance and Financial Sector | 2004-04-28 | 2004-05-17 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Gutierrez, Luis V. [D-IL-4] | IL | D | G000535 | 35 | Declares that Congress disapproves the rule submitted by the Comptroller of the Currency relating to: (1) the scope of the Comptroller's exclusive visitorial powers over national banks; and (2) the exception for visitorial powers "vested in the courts of justice". Declares that such rule shall have no force or effect. | 2023-01-15T04:48:35Z | |
| 108-hr-4237 | 108 | hr | 4237 | To provide for congressional disapproval of certain regulations issued by the Comptroller of the Currency, in accordance with section 802 of title 5, United States Code. | Finance and Financial Sector | 2004-04-28 | 2004-05-17 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Gutierrez, Luis V. [D-IL-4] | IL | D | G000535 | 35 | Declares that Congress disapproves the rule submitted by the Comptroller of the Currency relating to: (1) preemption of State law regarding national banks' deposit taking and lending activities; and (2) certain anti-predatory lending standards for national banks. Declares that such rule shall have no force or effect. | 2023-01-15T04:48:35Z | |
| 108-hr-4220 | 108 | hr | 4220 | Federal Disaster Consumer Protection Act | Finance and Financial Sector | 2004-04-27 | 2004-05-17 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Del. Bordallo, Madeleine Z. [D-GU-At Large] | GU | D | B001245 | 6 | Federal Disaster Consumer Protection Act - Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any consumer report containing any reference to a late payment that was due solely to a disruption caused by a declared disaster for which the agency received specified notice. Sets forth procedures for striking adverse information due to declared disasters. | 2023-01-15T04:48:35Z | |
| 108-hr-4208 | 108 | hr | 4208 | Executive Stock Option Profit Recapture Act | Finance and Financial Sector | 2004-04-22 | 2004-05-17 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Frank, Barney [D-MA-4] | MA | D | F000339 | 0 | Executive Stock Option Profit Recapture Act - Amends the Sarbanes-Oxley Act of 2002 to direct the Securities and Exchange Commission (SEC) to prescribe rules declaring that, if, at the end of a period ending one year after one or more of the five most highly compensated executive officers or the directors of an issuer have exercised options on the issuer's securities granted as compensation, the issuer's stock has declined by a material amount, then such executive officer or director shall be required to reimburse the issuer for all gains realized on the sale of securities obtained as a result of the option exercise that are in excess of any gains that would have been realized had the securities been sold at the stock price at the end of such one-year period. | 2023-01-15T04:48:35Z | |
| 108-s-2344 | 108 | s | 2344 | Armenian Victims Insurance Fairness Act | Finance and Financial Sector | 2004-04-22 | 2004-04-22 | Read twice and referred to the Committee on the Judiciary. | Senate | Sen. Boxer, Barbara [D-CA] | CA | D | B000711 | 0 | Armenian Victims Insurance Fairness Act - Authorizes States to: (1) require an insurance company conducting business in the State to disclose and make publicly available details regarding certain covered policies issued by that company or by any related company; and (2) provide penalties and sanctions for noncompliance. Defines a "covered policy" as a life, property, liability, health annuity, dowry, educational, or casualty insurance policy issued to a policyholder domiciled in the area of Europe or Asia that was occupied or controlled by the Ottoman Empire and that was in effect at any time between 1875 and 1923. Declares that Congress explicitly disapproves any Executive branch policy or agreement that preempts State efforts to collect insurance information to resolve outstanding claims concerning such policies. | 2023-01-15T04:48:55Z | |
| 108-sjres-31 | 108 | sjres | 31 | A joint resolution to provide for Congressional disapproval of certain regulations issued by the Office of the Comptroller of the Currency, in accordance with section 802 of title 5, United States Code. | Finance and Financial Sector | 2004-04-07 | 2004-04-07 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S3945) | Senate | Sen. Edwards, John [D-NC] | NC | D | E000286 | 3 | Declares that Congress disapproves the rule submitted by the Comptroller of the Currency relating to: (1) the scope of the Comptroller's exclusive visitorial powers over national banks; and (2) the exception for visitorial powers "vested in the courts of justice". Declares that such rule shall have no force or effect. | 2023-01-15T04:48:54Z | |
| 108-sjres-32 | 108 | sjres | 32 | A joint resolution to provide for Congressional disapproval of certain regulations issued by the Office of the Comptroller of the Currency, in accordance with section 802 of title 5, United States Code. | Finance and Financial Sector | 2004-04-07 | 2004-04-07 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S3945) | Senate | Sen. Edwards, John [D-NC] | NC | D | E000286 | 3 | Declares that Congress disapproves the rule submitted by the Comptroller of the Currency relating to: (1) preemption of State law regarding national banks' deposit taking and lending activities; and (2) certain anti-predatory lending standards for national banks. Declares that such rule shall have no force or effect. | 2023-01-15T04:48:54Z | |
| 108-hr-4125 | 108 | hr | 4125 | Publish What You Pay Act of 2004 | Finance and Financial Sector | 2004-04-01 | 2004-04-20 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Weiner, Anthony D. [D-NY-9] | NY | D | W000792 | 2 | Publish What You Pay Act of 2004 - Directs the Securities and Exchange Commission to require certain securities issuers to disclose in their annual and quarterly reports their aggregate payments of $250,000 or greater made in connection with the securing of exploration, development, exploitation, extraction, and production rights for natural resources (oil, gas, and minerals) to any foreign government or other public entity of a foreign country, including taxes, royalties, fees, and other amounts paid in such connection. Authorizes the Attorney General to bring a civil action in Federal district court to enjoin an act or practice in violation of this Act. Establishes civil and criminal penalties for violations of this Act. | 2023-01-15T04:48:37Z | |
| 108-hr-3974 | 108 | hr | 3974 | Prohibit Predatory Lending Act | Finance and Financial Sector | 2004-03-16 | 2004-03-29 | Referred to the Subcommittee on Housing and Community Opportunity. | House | Rep. Miller, Brad [D-NC-13] | NC | D | M001154 | 19 | Prohibit Predatory Lending Act - Amends the Truth in Lending Act in connection with consumer credit cost disclosure to redefine: (1) the formula used to adjust certain percentage points in connection with a consumer credit transaction secured by the consumer's principal dwelling; and (2) related points and fees. Sets forth a formula to calculate: (1) points and fees for open-end loans; and (2) bona fide discount points and prepayment penalties. Revises requirements for: (1) prepayment penalties; (2) balloon payments; and (3) extension of credit without regard to consumer's payment ability. Prohibits in connection with high-cost mortgages: (1) a creditor from recommending a default on an existing debt prior to and in connection with the closing of a high-cost mortgage that refinances all or any portion of such existing loan or debt; (2) specified late fees; (3) certain accelerations of debt; (4) certain evasions, structuring of transactions, and reciprocal arrangements; (5) certain modification and deferral fees; and (6) mandatory arbitration or other nonjudicial procedures. Mandates pre-loan counseling as a prerequisite for a high-loan mortgage. Revises guidelines governing creditor liability for correction of errors. Doubles civil money penalties for certain violations. Extends to three years the statute of limitations for violation of certain statutory disclosure requirements. Prohibits a creditor from knowingly or intentionally engaging in the unfair act or practice of flipping (the making of a loan or extension of credit to a consumer which refinances an existing mortgage when the new loan or credit extension does not have reasonable, tangible net benefit to the consumer, considering all of the circumstances, including the terms of both the new and the refinanced loans or credit, the cost of the new loan or credit, and the consumer's circumstances). Prohibits single premium credit insurance. | 2023-01-15T10:32:59Z | |
| 108-hr-3952 | 108 | hr | 3952 | Promoting Community Investment Act of 2004 | Finance and Financial Sector | 2004-03-11 | 2004-03-29 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Hensarling, Jeb [R-TX-5] | TX | R | H001036 | 14 | Promoting Community Investment Act of 2004 - Amends the Community Reinvestment Act of 1977 to increase from $250 million to $1 billion the aggregate asset size of small regulated financial institutions eligible for certain regulatory relief. Sets a deadline for the Federal financial supervisory agencies to prescribe jointly the amount by which such aggregate asset size limit shall be adjusted annually for inflation. | 2023-01-15T10:33:00Z | |
| 108-hr-3955 | 108 | hr | 3955 | Democracy Development Act of 2004 | Finance and Financial Sector | 2004-03-11 | 2004-03-29 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Israel, Steve [D-NY-2] | NY | D | I000057 | 0 | Democracy Development Act of 2004 - Directs the Securities and Exchange Commission to require certain public companies to disclose in annual and quarterly reports aggregate payments of $250,000 or more made in connection with the securing of exploration, development, exploitation, extraction, and production rights for natural resources (oil, gas, and minerals) to any foreign government or any other public entity of foreign countries. | 2023-01-15T10:33:00Z | |
| 108-hr-3927 | 108 | hr | 3927 | Life Insurance Anti-Discrimination in Travel Act | Finance and Financial Sector | 2004-03-10 | 2004-03-11 | Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman. | House | Rep. Emanuel, Rahm [D-IL-5] | IL | D | E000287 | 23 | Life Insurance Anti-Discrimination in Travel Act - Prohibits denying any person life insurance coverage, or making any distinction or otherwise discriminating in the issuance, cancellation, terms (including premium rates), or conditions of life insurance coverage, based upon that person's lawful travel experiences. Makes a violation of this Act an unfair method of competition and an unfair or deceptive act or practice under the Federal Trade Commission Act. | 2023-01-15T10:18:05Z | |
| 108-hr-3916 | 108 | hr | 3916 | Presidential $1 Coin Act of 2004 | Finance and Financial Sector | 2004-03-09 | 2004-06-24 | Placed on the Union Calendar, Calendar No. 331. | House | Rep. Castle, Michael N. [R-DE-At Large] | DE | R | C000243 | 10 | Presidential $1 Coin Act of 2004 - (Sec. 3) Amends Federal monetary law to set forth requirements for the redesign and issuance of circulating $1 coins emblematic of each President of the United States beginning January 1, 2006, and ending when each President who has finished his or her period of service has been so honored. Requires inscription of the year of minting or issuance of the coin and the inscriptions "E Pluribus Unum" and "In God We Trust" to be edge-incused into the coin. Prohibits inclusion of a President who has not completed his or her term of service (sitting President). (Sec. 4) Instructs the Secretary of the Treasury to: (1) issue gold bullion $10 coins emblematic of the spouse of each such President during the same period in which the $1 coins are issued; (2) prescribe the maximum number of bullion coins issued with each design selected; and (3) announce the maximum number of bullion coins that will be issued before the issuance of each such design. Provides for the design of such a bullion coin in the case of any President who served without a spouse. Authorizes the Secretary to strike and sell bronze medals that bear the likeness of such authorized bullion coins. (Sec. 5) Expresses the sense of Congress that: (1) the American tradition of not issuing a coin with the image of a living person has served the country well and deserves to be continued as a general practice; (2) the full circulation potential and cost-savings benefit projections for the presidential $1 coin program are not likely to be achieved unless the coins are delivered in ways useful to ordinary commerce; (3) the Director of the U.S. Mint should take all reasonable steps to ensure that specified coins, remain tarnish-free for as long as possible without incurring undue expense; (4) if the Secretary of the Treasury determines to include a mark denoting the U.S. Mint facility at which the coin was struck on any $1 coin minted under this Act a, such mark should be edge-incused; (5) at such time as the Boar… | 2023-01-15T10:18:05Z | |
| 108-hr-3863 | 108 | hr | 3863 | Realtime Investor Protection Act | Finance and Financial Sector | 2004-02-26 | 2004-03-22 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Shadegg, John B. [R-AZ-3] | AZ | R | S000275 | 0 | Realtime Investor Protection Act - Amends the Securities Exchange Act of 1934 to require a registered securities association to: (1) establish and maintain a registration information system on its members and their associated persons; and (2) establish and maintain a toll-free telephone listing, and a readily accessible electronic or other process, to receive and promptly respond to inquiries regarding that information. (Currently such an association is required to maintain a toll-free telephone listing to receive inquiries regarding disciplinary actions involving its members and their associated persons.) Amends the Investment Advisers Act of 1940 to authorize the Securities and Exchange Commission (SEC) to require an investment adviser to: (1) file with the SEC any fee, application, report, or notice required to be filed through any entity designated by the SEC for that purpose; and (2) pay the reasonable costs associated with such filing and the establishment and maintenance of the telephone and electronic systems required by this Act. Directs the SEC to require the designated entity to establish and maintain a toll-free telephone listing, and a readily accessible electronic or other process, to receive and promptly respond to inquiries regarding registration information (including disciplinary actions, regulatory, judicial, and arbitration proceedings, involving investment advisers and persons associated with investment advisers). | 2023-01-15T09:47:44Z | |
| 108-hr-3808 | 108 | hr | 3808 | Safeguarding Assets For Employees in Bankruptcy Act of 2004 | Finance and Financial Sector | 2004-02-11 | 2004-03-01 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Gutierrez, Luis V. [D-IL-4] | IL | D | G000535 | 0 | Safeguarding Assets For Employees in Bankruptcy Act of 2004 - Amends Federal bankruptcy law to: (1) increase from $4,000 to $20,000 the dollar amount of specified unsecured claims related to employment benefits in the third and fourth priority tier; and (2) place in fifth order of priority the allowed unsecured claims of employees arising under the Worker Adjustment and Retraining Notification Act. | 2023-01-15T09:47:45Z | |
| 108-hr-3786 | 108 | hr | 3786 | Bureau of Engraving and Printing Security Printing Act of 2004 | Finance and Financial Sector | 2004-02-10 | 2004-03-29 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. King, Peter T. [R-NY-3] | NY | R | K000210 | 1 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Bureau of Engraving and Printing Security Printing Act of 2004 - (Sec. 2) Amends Federal monetary law relating to engraving and printing currency and security documents to authorize the Secretary of the Treasury to produce currency, postage stamps, and other security documents for foreign governments if: (1) the Secretary determines that such production will not interfere with engraving and printing needs of the United States; and (2) the Secretary of State determines that such production would be consistent with the foreign policy of the United States. (Sec. 3) Sets forth procurement and reimbursement guidelines. | 2023-01-15T10:18:07Z | |
| 108-s-2059 | 108 | s | 2059 | Mutual Fund Reform Act of 2004 | Finance and Financial Sector | 2004-02-10 | 2004-02-10 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S797-802) | Senate | Sen. Fitzgerald, Peter [R-IL] | IL | R | F000442 | 12 | Mutual Fund Reform Act of 2004 - Amends the Investment Company Act of 1940 to: (1) reduce from 60 percent to 25 percent the maximum number of interested persons serving on the board of directors of a registered investment company; and (2) prohibit an interested person of such company from serving as chairman of such board of directors. States that a fiduciary duty is owed by: (1) the board of directors to act with loyalty and care in the best interests of shareholders; and (2) an investment adviser to supply material information necessary for independent directors to review and govern the company. Revises guidelines governing independent accounting and auditing. Directs the SEC to require adoption of a code of ethics by a registered investment company and by its investment advisers and principal underwriters. Directs the SEC to require each senior executive officer of an investment adviser to certify in periodic reports to shareholders that specified procedures are in place to verify compliance with transparency and specified ethical considerations. Grants whistleblower protection for employees of publicly traded companies and registered investment companies. Directs the SEC to develop standardized disclosures for: (1) expense and transaction cost ratios; (2) cost structures; (3) investment adviser compensation; (4) point of sale; and (5) additional disclosures of broker compensation. Repeals Rule 12b-1 fees (asset-based distribution expenses paid by investors). Prohibits: (1) revenue sharing; (2) directed brokerage fees; (3) soft dollar arrangements; (4) short-term trading; and (5) joint management of mutual funds and hedge funds. | 2023-01-15T10:03:18Z | |
| 108-s-2004 | 108 | s | 2004 | Protection of Family Farmers and Family Fisherman Act of 2003 | Finance and Financial Sector | 2003-12-09 | 2003-12-09 | Read twice and referred to the Committee on the Judiciary. | Senate | Sen. Grassley, Chuck [R-IA] | IA | R | G000386 | 3 | Protection of Family Farmers and Family Fishermen Act of 2003 - Amends the Federal bankruptcy code to reenact Chapter 12, Adjustment of Debts of a Family Farmer with Regular Annual Income (thus reinstating permanently family farmer bankruptcy relief). Cites circumstances under which the claim of a governmental unit that arises from the disposition of a farm asset used in the debtor's farming operation shall be treated as an unsecured claim not entitled to priority.Increases from $1.5 million to $3.237 million the maximum aggregate debt that permits a farming operation to qualify as a family farming operation for debt adjustment purposes. Decreases from 80 percent to 50 percent the minimum percentage of aggregate, noncontingent liquidated debts arising out of such a farming operation. Modifies the requirement that a family farmer and spouse receive over 50 percent of income from farming operations in the year before a bankruptcy petition is filed. Allows the family farmer to meet the over-50-percent requirement in either the preceding taxable year or each of the second and third preceding taxable years. Prohibits: (1) retroactive assessment of disposable income; and (2) post-confirmation modification of a bankruptcy plan that would increase the amount of payments that were due before such modification. Requires debtor's consent for post-confirmation increase in payments. Extends Chapter 12 coverage to family fishermen whose aggregate debts do not exceed $1.5 million, of which at least 80 percent of aggregate noncontingent, liquidated debts arise out of a commercial fishing operation. | 2023-01-15T09:17:37Z | |
| 108-hr-3674 | 108 | hr | 3674 | Financial Customer Identification Verification Improvement Act | Finance and Financial Sector | 2003-12-08 | 2004-01-02 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Garrett, Scott [R-NJ-5] | NJ | R | G000548 | 11 | Financial Customer Identification Verification Improvement Act - Amends Federal law governing monetary transactions to prohibit a financial institution from accepting any form of identification issued by a foreign government, other than a passport, for use in verifying the identity of a person in connection with the opening of an account, including a matricula consular issued in the United States by a duly authorized consular officer of the Government of Mexico. | 2023-01-15T09:17:38Z | |
| 108-hr-3681 | 108 | hr | 3681 | Privacy Protection Act of 2003 | Finance and Financial Sector | 2003-12-08 | 2004-01-02 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Kennedy, Mark R. [R-MN-6] | MN | R | K000358 | 1 | Privacy Protection Act of 2003 - Amends the Gramm-Leach-Bliley Act regarding mandatory Federal standards for financial institutions with respect to privacy and confidentiality of customers' nonpublic personal information, including information sharing among financial affiliates. Exempts from the Act's requirements and prohibitions (by excluding from its definition of "financial institution") any provider of financial services (or affiliate) subject to regulation of client confidentiality that prohibits unauthorized disclosure of confidential client information without the client's consent in the form of laws, rules, or regulation of professional conduct or ethics promulgated by the highest appellate court authority, or by the principal legislative or regulatory body of a State or territory of the United States, or by Federal law. | 2023-01-15T09:17:38Z | |
| 108-s-1958 | 108 | s | 1958 | Mutual Fund Investor Protection Act of 2003 | Finance and Financial Sector | 2003-11-25 | 2003-12-09 | Star Print ordered on the bill. | Senate | Sen. Kerry, John F. [D-MA] | MA | D | K000148 | 1 | Mutual Fund Investor Protection Act of 2003 - Amends the Investment Company Act of 1940 to require that mutual fund securities purchase orders be placed before the registered open-end company (mutual fund) sets the price for that day. Amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Company Act of 1940 to set forth civil and criminal penalties for willful violation of the rules governing the purchase, sale or valuation of mutual fund securities. Amends Federal criminal law to redefine racketeering activity to include such willful violations. Amends the Investment Company Act of 1940 to: (1) mandate disclosure of market timing policies in a mutual fund prospectus; and (2) prohibit an "interested person" from serving as chairman of the board of a mutual fund. Instructs the Securities and Exchange Commission (SEC) to: (1) publish requirements imposing specified fiduciary duties upon the board of directors of a mutual fund; (2) require specified mutual fund cost disclosures; (3) issue a concept release examining portfolio transaction costs incurred by investment companies; and (4) require additional disclosures of fees paid by mutual fund shareholders. Amends the Investment Company Act of 1940 to prohibit short-term trading by specified mutual fund personnel or affiliates. Directs the SEC to require each mutual fund to appoint a compliance officer. Establishes the Mutual Fund Oversight Board (Board) to oversee the conduct of mutual funds and to establish auditing, quality control, and ethics standards. Mandates mutual fund registration with the Board. Requires the Board to: (1) conduct a continuing program of inspections to assess mutual fund compliance; and (2) establish procedures for investigations and disciplinary proceedings. States that Board actions do not preempt any State securities action. Directs the SEC to prescribe rules granting complainants the option to have any arbitration held in an independent arbitration forum of the complainant's choice. | 2023-01-15T09:03:28Z | |
| 108-s-1967 | 108 | s | 1967 | Interest on Business Checking Act of 2003 | Finance and Financial Sector | 2003-11-25 | 2003-11-25 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S16010-16011) | Senate | Sen. Hagel, Chuck [R-NE] | NE | R | H001028 | 1 | Interest on Business Checking Act of 2003 - Amends Federal law to authorize interest-bearing transaction accounts for all businesses, permitting up to 24 transfers per month to another account of the owner in the same institution (or any greater number the Federal Reserve Board may determine). Amends the Federal Reserve Act, the Home Owners' Loan Act, and the Federal Deposit Insurance Act to repeal the proscription on the payment of interest on demand deposits. Requires a joint rulemaking by the Secretary of the Treasury and the Federal banking agencies authorizing the payment of interest and dividends on transaction accounts at depository institutions under their respective jurisdictions. Amends the Federal Reserve Act to authorize the payment of interest at least quarterly by a Federal reserve bank on reserves maintained there on behalf of a depository institution. Revises the ratio of reserves a depository institution must maintain against its transaction accounts, permitting a ratio of zero. States that where escrow accounts are maintained at a depository institution for completion of a real estate settlement transaction specified expense-taking or fee-waiving activities shall not be treated as the payment or receipt of interest for purposes relating to the payment of interest on accounts or deposits maintained at depository institutions. | 2023-01-15T09:03:28Z | |
| 108-s-1970 | 108 | s | 1970 | Bankruptcy Fairness Act | Finance and Financial Sector | 2003-11-25 | 2003-11-25 | Read twice and referred to the Committee on the Judiciary. | Senate | Sen. Rockefeller, John D., IV [D-WV] | WV | D | R000361 | 0 | Bankruptcy Fairness Act - Amends Federal bankruptcy law to increase from $4650 to $15,000 the aggregate amount of a claim to recover employee wages and benefits that has priority ranking among unsecured creditor claims. Authorizes the bankruptcy court to avoid any transfer of compensation made to debtor's personnel or a member of its board of directors 90 days before the date of the filing of the bankruptcy petition if the court finds the transfer to be either out of the ordinary course of business, or unjust enrichment. Revises guidelines governing payment of insurance benefits accrued by retirees to provide that: (1) a retiree whose benefits have been modified during the bankruptcy process shall have a claim for the value of the benefits lost as a result of such modification; and (2) the debtor shall pay such retiree the cost of 18 months of insurance premiums on behalf of the retiree and dependents. Expands the prerequisites for confirmation of a bankruptcy reorganization plan to require that the holder of such retiree insurance claim receive from the debtor, on the effective date of the plan, cash equal to the cost of 18 months of the retiree's insurance premiums. | 2023-01-15T09:03:27Z | |
| 108-s-1971 | 108 | s | 1971 | Mutual Fund Investor Confidence Restoration Act of 2003 | Finance and Financial Sector | 2003-11-25 | 2003-11-25 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S16017-16022) | Senate | Sen. Corzine, Jon S. [D-NJ] | NJ | D | C001042 | 2 | Mutual Fund Investor Confidence Restoration Act of 2003 - Directs the Securities and Exchange Commission (SEC) to revise securities regulations to require: (1) an open-end management investment company to make specified mutual fund cost disclosures in its periodic report to shareholders, including costs, fees, expenses and compensation, in a manner that facilitates comparison among different companies; and (2) an independent audit of such disclosures and certification by the investment adviser and the chairman of the board of directors of such company. Amends the Investment Company Act of 1940 (ICA) to require the investment adviser to a registered investment company to report at least annually to the company board of directors regarding certain revenue sharing arrangements and directed brokerage arrangements. Imposes a fiduciary duty upon the company's board of directors to: (1) see that the company's investment adviser's direction of brokerage transactions serves the best interests of company shareholders; and (2) determine that revenue sharing arrangements serve the best interests of company shareholders. Amends the Securities Exchange Act of 1934 to require a broker's written disclosure to purchasers of mutual funds of specified compensation, fees and conflicts of interest. Amends the ICA to revise mutual fund governance requirements, including: (1) a prohibition against service by an interested person as chairman of the board of directors; and (2) establishment of an independent committee to select board of director nominees. Revises accountant selection requirements. Replaces selection by a majority of the board of directors of a registered management company or registered face-amount certificate company with selection by an audit committee. Requires the audit committee to consist of independent members of the board of directors. Allows the audit committee to be the entire board of directors if no separate committee or equivalent body exists to oversee the company's accounting and financial reporting proce… | 2023-01-15T09:03:27Z | |
| 108-hr-3579 | 108 | hr | 3579 | Credit Union Regulatory Improvements Act of 2003 | Finance and Financial Sector | 2003-11-21 | 2003-12-02 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Royce, Edward R. [R-CA-40] | CA | R | R000487 | 68 | Credit Union Regulatory Improvements Act of 2003 - Amends the Federal Credit Union Act to (FCUA) to authorize real estate lease extensions at minimal charge to credit unions that finance the construction of credit union facilities on Federal land. Permits a credit union to make investments in securities for its own account. Increases the maturity date on credit union loans from 12 years to 15 years, or longer as the National Credit Union Administration Board may allow. Increases from up to one percent to up to three percent of the total paid in and unimpaired capital and surplus the limit on an individual credit union's aggregate investment in credit union service organizations. Exempts loans to nonprofit religious organizations from restrictions placed upon member business loans relating to credit union net worth or capitalization standards. Permits a credit union to offer money transfer instruments, including electronic fund transfers, to persons in the field of membership as well as to actual members. Exempts multiple common-bond credit union mergers and conversions from certain numerical limitations on field of membership. Requires the Board to prescribe criteria for the voluntary conversion of a common-bond credit union into a community credit union. Authorizes the board of directors of a Federal credit union to expel a member for just cause, including disruption of credit union operations. States that reimbursement for lost wages owing to voluntary service on a credit union board of directors shall not be treated as prohibited compensation. Revises the criteria for increasing the interest rate ceiling on the unpaid loan balance. Authorizes a credit union to lease specified office space in buildings in underserved areas to any business enterprise if the space is separate and clearly distinct from any office or operation of the credit union. Amends credit union conversion voting requirements. Amends the Clayton Act to exempt from its premerger notification and waiting period requirements mergers among certa… | 2023-01-15T08:33:23Z | |
| 108-hr-3599 | 108 | hr | 3599 | Auditor Independence and Tax Shelters Act | Finance and Financial Sector | 2003-11-21 | 2003-12-02 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Emanuel, Rahm [D-IL-5] | IL | D | E000287 | 11 | Auditor Independence and Tax Shelters Act - Amends the Securities Exchange Act of 1934 governing audit requirements to prohibit a registered public accounting firm (or associated person) from providing services to an issuer of securities, or an officer or director of an issuer, to design, organize, promote, assist, or execute any investment, entity, plan, arrangement, or transaction for which a significant purpose is the avoidance or evasion of Federal income tax (tax shelter), and for which the firm may receive fees exceeding $100,000 in the aggregate. Requires the audit committee of an issuer, before pre-approving a non-audit service not otherwise prohibited, to determine whether a reasonable likelihood exists that such service would impair the accounting firm's independence. Prohibits the audit committee from providing advance approval of such a service if a reasonable likelihood of impairment does exist. | 2023-01-15T08:33:22Z | |
| 108-s-1920 | 108 | s | 1920 | Bankruptcy Abuse Prevention and Consumer Protection Act of 2004 | Finance and Financial Sector | 2003-11-21 | 2004-02-03 | Message on House action received in Senate and at desk: House amendment to Senate bill and House requests a conference. | Senate | Sen. Grassley, Chuck [R-IA] | IA | R | G000386 | 3 | Bankruptcy Abuse Prevention and Consumer Protection Act of 2004 - Title I: Needs-Based Bankruptcy - (Sec. 101) Amends Federal bankruptcy law to revamp guidelines governing dismissal or conversion of a Chapter 7 liquidation (complete relief in bankruptcy), to one under either Chapter 11 (Reorganization), or Chapter 13 (Adjustment of Debts of an Individual with Regular Income). Permits the bankruptcy court to convert a Chapter 7 case to either Chapter 11 or 13 with a debtor's consent. (Current law requires the debtor's request for such a conversion.) (Sec. 102) Permits the court upon its own motion, or upon the motion of the bankruptcy trustee, bankruptcy administrator, or any party in interest, to move for a dismissal. (Current law prohibits a party in interest from entering such motions.) Lowers the "substantial abuse" standard for dismissal or conversion to one of simple abuse. Replaces the presumption in favor of granting the relief sought by the debtor with a presumption that abuse exists if the debtor's current monthly income exceeds an amount determined according to specified formulae. Includes within the calculation of debtor's monthly expenses: (1) reasonably necessary expenses incurred to maintain the safety of the debtor and the debtor's family from family violence as identified under the Family Violence Prevention and Services Act; (2) continuation of actual expenses paid by the debtor for the care and support of an elderly, chronically ill, or disabled household or non-dependent immediate family member; and (3) an additional allowance for housing and utilities based upon documented home energy expenses. Provides that the presumption of abuse may only be rebutted with detailed documentation of special circumstances requiring additional expenses or adjustment of current monthly total income for which there is no reasonable alternative. Requires the debtor's counsel to reimburse the bankruptcy trustee for legal fees in prosecuting a dismissal or conversion motion if the court finds that counsel's filing u… | 2023-01-15T09:03:29Z | |
| 108-s-1928 | 108 | s | 1928 | Predatory Lending Consumer Protection Act of 2003 | Finance and Financial Sector | 2003-11-21 | 2003-11-21 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S15471-15473) | Senate | Sen. Sarbanes, Paul S. [D-MD] | MD | D | S000064 | 15 | Predatory Lending Consumer Protection Act of 2003 - Amends the Truth in Lending Act guidelines for certain credit transactions secured by the consumer's principal dwelling (high-cost mortgage). Redefines a high-cost mortgage, lowering the maximum interest rates involved. Specifies additional costs, fees, and penalties included among points and fees. Defines bona fide discount points and benchmark rate. Requires additional disclosures that the consumer is contracting to pay a much higher loan than most people pay. Specifies additional prohibitions against prepayment penalties, except in certain circumstances. Prohibits all balloon payments. Prohibits the terms of a high-cost mortgage from including advance collection of a premium on a single premium basis for specified credit insurance products. Restricts the number of points and amount of fees which a creditor may finance in connection with a high-cost mortgage. Prohibits certain creditors from financing the prepayment fees or penalties due from the consumer. Prohibits a high-cost mortgage creditor from engaging in specified practices, including actions encouraging default and requiring arbitration or any other nonjudicial procedure as a method for resolving any controversy or claims arising from the transaction. Prescribes consumer counseling requirements. Declares a consumer's waiver of the right of rescission ineffective if the creditor either advised, or encouraged such waiver, or required it as a precondition for a transaction. Amends the Fair Credit Reporting Act to require that each high-cost mortgage creditor (including the successor creditor) report the debtor's complete payment history to certain consumer reporting agencies in accordance with specified regulations. | 2023-01-15T09:03:29Z | |
| 108-hr-3540 | 108 | hr | 3540 | To extend for an additional year the period for which chapter 12 of title 11 of the United States Code is reenacted. | Finance and Financial Sector | 2003-11-20 | 2003-12-10 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Smith, Nick [R-MI-7] | MI | R | S000597 | 1 | Amends the Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999, as amended, to extend until January 1, 2005, the reenactment of chapter 12 of the Federal Bankruptcy Code (Adjustment of Debts of a Family Farmer with Regular Annual Income) (thereby extending family farmer bankruptcy relief). Makes this Act effective as of January 1, 2004. | 2023-01-15T08:33:24Z | |
| 108-hr-3542 | 108 | hr | 3542 | Protection of Family Farmers Act of 2003 | Finance and Financial Sector | 2003-11-20 | 2003-12-10 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Baldwin, Tammy [D-WI-2] | WI | D | B001230 | 2 | Protection of Family Farmers Act of 2003 - Amends the Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999 to extend for six additional months (until July 1, 2004) the period for which chapter 12 of the Federal Bankruptcy Code (Adjustments of Debts of a Family Farmer) is reenacted. States that such extension shall take effect on January 1, 2004. | 2023-01-15T08:33:24Z | |
| 108-hr-3520 | 108 | hr | 3520 | Strategy for Assuring Financial Empowerment Act | Finance and Financial Sector | 2003-11-19 | 2003-12-02 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Kelly, Sue W. [R-NY-19] | NY | R | K000078 | 0 | Strategy for Assuring Financial Empowerment Act - SAFE Act - Directs the President to develop a national strategy for financial education, the Strategy for Assuring Financial Empowerment (SAFE strategy), acting through the Secretary of the Treasury and the Office of Financial Education in the Department of the Treasury. Requires the SAFE strategy to: (1) address certain issues; and (2) be developed and transmitted to Congress annually, along with policy effectiveness reports. Requires the first SAFE strategy to contain recommendations and a proposal for forming a Financial Literacy and Education Working Group. Directs the Secretary of the Treasury to chair the Working Group and to consult with the Secretary of Housing and Urban Development and with other officials of specified Federal, State, local, and private entities in developing the SAFE strategy. | 2023-01-15T08:33:25Z | |
| 108-s-1891 | 108 | s | 1891 | Customs Business Fairness Act of 2003 | Finance and Financial Sector | 2003-11-19 | 2003-11-19 | Read twice and referred to the Committee on the Judiciary. | Senate | Sen. Graham, Lindsey [R-SC] | SC | R | G000359 | 2 | Customs Business Fairness Act of 2003 - Amends Federal bankruptcy law governing priority among claims and expenses to place in the tenth order of priority allowed unsecured claims for duties, taxes, or other charges paid to the U.S. Customs Service by customs brokers and sureties on behalf of the debtor arising out of the importation of merchandise entered for consumption within one year before the date of the filing of the petition in bankruptcy. | 2023-01-15T09:03:30Z | |
| 108-s-1822 | 108 | s | 1822 | Mutual Fund Transparency Act of 2003 | Finance and Financial Sector | 2003-11-05 | 2003-11-05 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S14040-14041) | Senate | Sen. Akaka, Daniel K. [D-HI] | HI | D | A000069 | 3 | Mutual Fund Transparency Act of 2003 - Amends the Securities Exchange Act of 1934 to require brokers to disclose in writing to purchasers of mutual funds the amount of any compensation received or to be received by the broker in connection with the transaction. Prohibits such disclosure from appearing exclusively in either a registration statement or prospectus of an open-end company, or any other filing with the Securities and Exchange Commission (SEC). Amends the Investment Company Act of 1940 to direct the SEC to require, by rule, that brokerage commissions paid by an open-end company be included in any disclosure of fees and expenses payable by a holder of company securities in a registration statement or other filing with the SEC, including the calculation of expense ratios. Reduces from 60 percent to 25 percent the number of interested persons who may serve on the board of directors of a registered investment company. Prohibits any interested person from serving as board chairman. Prohibits an interested person from serving on such board unless the person has been: (1) approved or elected by the shareholders at least once every five years; and (2) found, on an annual basis, not to have any material business or familial relationship with the registered investment company, a significant service provider to the company, or any entity controlling, controlled by, or under common control with such service provider that is likely to impair his or her independence. Declares that no action taken by the board of directors of a registered investment company may require the vote of an interested director. Requires the members of the board of directors who are not interested persons to establish a committee composed solely of such members to: (1) select nominees for election to the board; and (2) adopt qualification standards for such nominees. Directs the SEC to study and report to specified congressional committees on: (1) whether the best interests of investors in mutual funds would be served by creation of a Mutual … | 2023-01-15T08:48:05Z | |
| 108-hr-3414 | 108 | hr | 3414 | American Homebuyers Protection Act | Finance and Financial Sector | 2003-10-30 | 2003-11-17 | Referred to the Subcommittee on Housing and Community Opportunity. | House | Rep. Gonzalez, Charles A. [D-TX-20] | TX | D | G000544 | 1 | American Homebuyers Protection Act - Prohibits a person engaged in the construction of new homes from: (1) requiring a home purchaser to enter into a mandatory arbitration agreement as a condition precedent to entering into a purchase contract; and (2) offering a home purchaser a contract which includes a mandatory arbitration agreement unless such agreement is a separate agreement. | 2023-01-15T07:47:44Z | |
| 108-s-1767 | 108 | s | 1767 | Auditor Independence and Tax Shelters Act | Finance and Financial Sector | 2003-10-21 | 2003-10-21 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S12978) | Senate | Sen. Levin, Carl [D-MI] | MI | D | L000261 | 2 | Auditor Independence and Tax Shelters Act - Amends the Securities Exchange Act of 1934 to prohibit a registered public accounting firm from providing tax shelter services to their audit clients. Defines tax shelter services as services provided by a registered public accounting firm (or by an associated person of that firm) to an issuer, or an officer or director of an issuer, to design, organize, promote, assist, or execute any investment, entity, plan, arrangement, or transaction for which a significant purpose is the avoidance or evasion of Federal income tax by such issuer, or an officer or director of such issuer, whether acting as a direct or indirect participant, and for which such firm may receive fees in excess of $100,000 in the aggregate. Requires an audit committee, as a prerequisite to its approval of a non-audit service, to determine whether a reasonable likelihood exists that the service would impair the independence of the registered public accounting firm by resulting in the firm's: (1) auditing its own work for the issuer; (2) performing a management function for the issuer; (3) advocating in a public forum for the issuer; or (4) promoting the stock or other financial interest of the issuer. Prohibits the audit committee from providing advance approval of such service if it determines that such a reasonable likelihood exists. | 2023-01-15T08:03:18Z | |
| 108-s-1772 | 108 | s | 1772 | Customs Business Fairness Act of 2003 | Finance and Financial Sector | 2003-10-21 | 2003-10-21 | Read twice and referred to the Committee on the Judiciary. | Senate | Sen. Graham, Lindsey [R-SC] | SC | R | G000359 | 1 | Customs Business Fairness Act of 2003 - Amends Federal bankruptcy law governing priority among claims and expenses to place in the tenth order of priority any allowed unsecured claims of customs brokers for duties, taxes, or other charges paid to the United States Customs Service on behalf of the debtor that arise out of the importation of merchandise entered for consumption within one year before the filing date of the bankruptcy petition. | 2023-01-15T08:03:18Z | |
| 108-hr-3331 | 108 | hr | 3331 | Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003 | Finance and Financial Sector | 2003-10-17 | 2003-11-04 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Carson, Julia [D-IN-7] | IN | D | C000191 | 11 | Debt Counseling, Debt Consolidation, and Debt Settlement Practices Improvement Act of 2003 - Prohibits an organization that engages in debt counseling, debt consolidation, or debt settlement from engaging in specified unfair and deceptive practices including: (1) unreasonable disclosure of information to third parties regarding amounts owed by any consumer; (2) undisclosed relationship between a debt counseling organization and a debt consolidation or debt settlement organization; (3) diversion of periodic payments from creditor to debt settlement organization; and (4) payment in advance of full performance of service. Requires a written, dated contract signed by the consumer as a prerequisite to services provided by any organization offering debt counseling, debt consolidation, or debt settlement. Prescribes contract terms. Establishes the consumer right to cancel such contract. Declares void and unenforceable any waiver by the consumer of the protections of this Act. Requires registration with the Secretary of the Treasury of any debt counseling, debt consolidation, or debt settlement organization. Establishes civil liability for non-compliance with this Act. Grants the Federal Trade Commission and the States enforcement powers to implement this Act. Prohibits any requirement or prohibition from being imposed under the laws of any State with respect to any subject matter regulated under this Act. | 2023-01-15T07:32:52Z | |
| 108-s-1753 | 108 | s | 1753 | National Consumer Credit Reporting System Improvement Act of 2003 | Finance and Financial Sector | 2003-10-17 | 2003-11-05 | See also H. R. 2622. | Senate | Sen. Shelby, Richard C. [R-AL] | AL | R | S000320 | 12 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) National Consumer Credit Reporting System Improvement Act of 2003 - Title I: Identity Theft Prevention and Credit History Restoration - Subtitle A: Identity Theft Prevention - (Sec. 111) Amends the Fair Credit Reporting Act (FCRA) to define active duty military consumer as a consumer in military service who: (1) is on active duty or is a reservist performing duty under a call or order to active duty; and (2) is assigned to service away from the consumer's usual duty station. Defines fraud alert and active duty alert as a statement in the consumer's file that: (1) notifies all prospective users of a consumer report that the consumer may be a victim of fraud, including identity theft, or is an active duty military consumer, as applicable; (2) provides to all prospective users of a consumer report, a telephone number, or other reasonable contact method designated by the consumer for the user to obtain the consumer's authorization before establishing new credit (including providing any increase in a credit limit with respect to an existing credit account) in the consumer's name; and (3) is presented in a manner that facilitates a clear and conspicuous view of the statement by any person requesting such file, or any portion of it. Defines reseller as a consumer reporting agency that: (1) assembles and merges information contained in the database of another consumer reporting agency or multiple consumer reporting agencies concerning any consumer for purposes of furnishing such information to any third party; and (2) does not maintain a database of the assembled or merged information from which new consumer reports are produced. Defines identity theft report as a report: (1) that alleges an identity theft; (2) that is filed by a consumer with an appropriate Federal, State, or local government agency, including the U.S. Postal Inspection Service and any law enforcement agency; and (3) the fil… | 2022-02-03T04:57:47Z | |
| 108-hr-3322 | 108 | hr | 3322 | Save Our Homes Act | Finance and Financial Sector | 2003-10-16 | 2003-10-22 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Schakowsky, Janice D. [D-IL-9] | IL | D | S001145 | 27 | Save Our Homes Act - Amends the Home Mortgage Disclosure Act of 1975 to: (1) require itemization and disclosure of the annual percentage rate of mortgage loans and other loans secured by residential real property originated by the lending institution, including the amount of fees and points imposed in connection with loan origination, grouped according to census tract, income level, racial characteristics, age, and gender; and (2) prohibit regulatory exemptions of depository institutions from such reporting requirements. Amends the Truth in Lending Act to: (1) set forth annual percentage rates that define a high-cost mortgage and related points and fees in order to apply high-cost loan protections to home purchase loans; (2) treat certain mortgage broker intermediaries as creditors covered by the Act; (3) subject a creditor to liability for mortgage broker violations of the Act; and (4) prohibit specified provisions and clauses in a high-cost mortgage. Declares unenforceable under both Federal and State law a high-cost mortgage document in which blanks are left to be filled in after the contract is signed. Prescribes requirements for conforming home loans. Prohibits creditors and mortgage brokers from directly or indirectly coercing, intimidating, or withholding compensation from an appraiser in order to influence the appraiser's independent judgment with respect to the value of real estate to be covered by a conforming home loan. Establishes criminal and civil penalties for violation of such prohibition. Excludes from participation in mortgage-backed security pools high-cost or conforming home loans in violation of this Act. Prescribes a formula for determining an alternative maximum amount of civil liability for credit or mortgage broker violations involving high-cost mortgages and conforming loans. | 2023-01-15T07:32:52Z | |
| 108-hr-3323 | 108 | hr | 3323 | Armenian Victims Insurance Fairness Act | Finance and Financial Sector | 2003-10-16 | 2003-11-04 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Schiff, Adam B. [D-CA-29] | CA | D | S001150 | 13 | Armenian Victims Insurance Fairness Act - Authorizes States to: (1) require an insurance company conducting business in the State to disclose and make publicly available details regarding certain covered policies issued by that company or by any related company; and (2) provide penalties and sanctions for noncompliance. Defines a "covered policy" as a life, property, liability, health annuity, dowry, educational, or casualty insurance policy issued to a policyholder domiciled in the area of Europe or Asia that was occupied or controlled by the Ottoman Empire and that was in effect at any time between 1875 and 1923. Declares that Congress explicitly disapproves any Executive branch policy or agreement that preempts State efforts to collect insurance information to resolve outstanding claims concerning such policies. | 2023-01-15T07:32:52Z | |
| 108-s-1749 | 108 | s | 1749 | Prevent Identity Theft From Affecting Lives and Livelihoods (PITFALL) Act | Finance and Financial Sector | 2003-10-16 | 2003-10-16 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Specter, Arlen [R-PA] | PA | R | S000709 | 0 | Prevent Identity Theft From Affecting Lives and Livelihoods (PITFALL) Act - Amends the Truth in Lending Act to provide nonliability for victims of identity theft following issuance of a no-fault letter by a State agency upon completion of its investigation into the matter. Cites duties of a creditor with respect to other creditors and credit reporting agencies following receipt of such State-issued no-fault letter. Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from including or maintaining information concerning any transaction involved in the identity theft with respect to which such no-fault letter has been issued. Cites duties of a consumer reporting agency with respect to other creditors and credit reporting agencies following receipt of such State-issued no-fault letter. Amends the Fair Debt Collection Practices Act to set forth the duties of a debt collector following receipt of such a State-issued no-fault letter. Amends the Electronic Fund Transfer Act to shield a person from liability for any electronic fund transfer with respect to which such no-fault letter has been issued. Cites duties of a financial institution following receipt of such State-issued no-fault letter. | 2023-01-15T08:03:19Z | |
| 108-hr-3294 | 108 | hr | 3294 | Financial Literacy Enhancement Act | Finance and Financial Sector | 2003-10-15 | 2003-10-22 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Dreier, David [R-CA-26] | CA | R | D000492 | 17 | Financial Literacy Enhancement Act - Directs the Secretary of the Treasury to develop, implement, and conduct a pilot national public service multimedia campaign to enhance the state of financial literacy in the United States. | 2023-01-15T07:32:53Z | |
| 108-hr-3296 | 108 | hr | 3296 | Prevent Identity Theft From Affecting Lives and Livelihoods (PITFALL) Act | Finance and Financial Sector | 2003-10-15 | 2003-10-22 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Gerlach, Jim [R-PA-6] | PA | R | G000549 | 1 | Prevent Identity Theft From Affecting Lives and Livelihoods (PITFALL) Act - Amends the Truth in Lending Act to provide nonliability for victims of identity theft following issuance of a no-fault letter by a State agency upon completion of its investigation into the matter. Cites duties of a creditor with respect to other creditors and credit reporting agencies following receipt of such State-issued no-fault letter. Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from including or maintaining information concerning any transaction involved in the identity theft with respect to which such no-fault letter has been issued. Cites duties of a consumer reporting agency with respect to other creditors and credit reporting agencies following receipt of such State-issued no-fault letter. Amends the Fair Debt Collection Practices Act to set forth the duties of a debt collector following receipt of such a State-issued no-fault letter. Amends the Electronic Fund Transfer Act to shield a person from liability for any electronic fund transfer with respect to which such no-fault letter has been issued. Cites duties of a financial institution following receipt of such State-issued no-fault letter. | 2023-01-15T07:32:53Z | |
| 108-hr-3254 | 108 | hr | 3254 | Consumer Credit and Identity Protection Act of 2001 | Finance and Financial Sector | 2003-10-07 | 2003-10-22 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Frelinghuysen, Rodney P. [R-NJ-11] | NJ | R | F000372 | 0 | Consumer Credit and Identity Protection Act of 2001 [sic] - Amends the Electronic Fund Transfer Act to declare that only the last four digits of a consumer's account number may be printed (truncated) on transaction receipts when identifying an account with respect to an electronic fund transfer initiated by the consumer at an electronic terminal. Authorizes temporary waivers of this requirement if the Board of Governors of the Federal Reserve System determines that retrofitting an existing electronic terminal to comply by the effective date of this Act is unduly burdensome. Directs the Board to study and report to Congress on truncation of credit and debit card account numbers in all consumer transactions. | 2023-01-15T07:32:55Z | |
| 108-s-1711 | 108 | s | 1711 | Community Economic Development Expertise Enhancement Act of 2003 | Finance and Financial Sector | 2003-10-03 | 2003-10-03 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S12449-12451) | Senate | Sen. Corzine, Jon S. [D-NJ] | NJ | D | C001042 | 0 | Community Economic Development Expertise Enhancement Act of 2003 - Authorizes the Secretary of Housing and Urban Development to make grants to increase the capacity and expertise of qualifying community-based economic development organizations. Directs the Secretary to: (1) conduct an assessment of such organizations' capability needs; and (2) establish the Advisory Council on Community Economic Development. Directs the President to include with each annual budget request a report regarding Federal financial support for community economic development. | 2023-01-15T08:03:20Z | |
| 108-hr-3233 | 108 | hr | 3233 | Identity Theft Notification and Credit Restoration Act of 2003 | Finance and Financial Sector | 2003-10-02 | 2003-10-22 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Gutierrez, Luis V. [D-IL-4] | IL | D | G000535 | 0 | Identity Theft Notification and Credit Restoration Act of 2003 - Amends the Gramm-Leach-Bliley Act to require a financial institution to promptly notify the following entities whenever a breach of personal information has occurred at such institution: (1) each customer affected by such breach; (2) certain consumer reporting agencies; and (3) appropriate law enforcement agencies. Requires any person that maintains personal information for or on behalf of a financial institution to promptly notify the institution of any case in which such customer information has been breached. Prescribes notification procedures. Authorizes a customer injured by a violation of this Act to institute a civil action to recover damages. Amends the Fair Credit Reporting Act to require a consumer reporting agency to include a fraud alert in a consumer file: (1) upon notification by financial institution; and (2) upon consumer request. Requires a consumer reporting agency to ensure that each person procuring credit information with respect to a consumer is made aware of the existence of a fraud alert in the consumer's file, regardless of whether a full credit report, credit score, or summary report is requested. Mandates no-cost consumer access to credit reports and scores once during each calendar year and once every three months during the one-year period beginning on the date on which a fraud alert is included in the consumer file. Directs the Federal Trade Commission (FTC) to promulgate implementing regulations. | 2023-01-15T07:32:55Z | |
| 108-hr-3183 | 108 | hr | 3183 | Depositary Services Efficiency and Cost Reduction Act | Finance and Financial Sector | 2003-09-25 | 2003-09-25 | Referred to the House Committee on Financial Services. | House | Rep. Oxley, Michael G. [R-OH-4] | OH | R | O000163 | 1 | Depositary Services Efficiency and Cost Reduction Act - Authorizes appropriations to reimburse financial institutions in their capacity as depositaries and financial agents of the United States for all services required or directed by the Secretary of the Treasury to be performed by them on behalf of a Federal agency. Amends the Federal Reserve Act to make technical amendments to reflect this Act. | 2023-01-15T06:48:02Z | |
| 108-s-1656 | 108 | s | 1656 | Federal Housing Enterprise Oversight Modernization Act of 2003 | Finance and Financial Sector | 2003-09-25 | 2003-09-25 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S11991-11999) | Senate | Sen. Corzine, Jon S. [D-NJ] | NJ | D | C001042 | 0 | Federal Housing Enterprise Oversight Modernization Act of 2003 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to establish in the Department of the Treasury the Office of Federal Housing Enterprise Supervision. Transfers to the Director of such Office supervisory and regulatory authority over specified government sponsored enterprises (Fannie Mae and Freddie Mac) from the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD) and from the Secretary of Housing and Urban Development. Prohibits merger or consolidation of such Office or its functions. Requires: (1) the Director to ensure that the enterprises operate in a financially safe manner and remain adequately capitalized; and (2) that each enterprise have prior approval of the Director before implementing a new program. Sets forth operating, administrative, and regulatory provisions of the Director, including provisions respecting: (1) assessment authority; (2) nonmortgage-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; (7) public disclosures; and (8) reporting. Amends the Federal Home Loan Bank Act to make the Secretary of the Treasury a member of the Federal Housing Finance Board in lieu of the Secretary. Sets forth certain retained authorities of the Secretary. Abolishes the Office of Federal Housing Enterprise Oversight. Sets forth related transfer of personnel and facility and property provisions. | 2023-01-15T07:02:58Z | |
| 108-hr-3170 | 108 | hr | 3170 | Increased Capital Access for Growing Business Act | Finance and Financial Sector | 2003-09-24 | 2004-04-29 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Kelly, Sue W. [R-NY-19] | NY | R | K000078 | 1 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Increased Capital Access for Growing Business Act - Amends the Investment Company Act of 1940 to include as an "eligible portfolio company," for purposes of eligibility for investment in small- and medium-sized businesses, an issuer of securities that: (1) does not have any class of equity securities listed for trading on a national securities exchange or traded through the facilities of a national securities association; or (2) has an aggregate value of outstanding publicly traded equity securities of not more than $250 million. Allows the Securities and Exchange Commission to adjust such amount consistent with the public interest, protection of investors, and the public purpose. Includes as an eligible business development company, also for such purposes, an investment company: (1) without any such class of equity securities; or (2) that is not an eligible portfolio company because the aggregate value of its outstanding publicly traded equity securities is more than $250 million but not more than $500 million, as long as such securities represent no more than ten percent of the total invested assets of the company. | 2023-01-15T06:48:03Z | |
| 108-hr-3129 | 108 | hr | 3129 | Holocaust Victims Insurance Fairness Act | Finance and Financial Sector | 2003-09-17 | 2003-12-02 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Schiff, Adam B. [D-CA-29] | CA | D | S001150 | 5 | Holocaust Victims Insurance Fairness Act - Authorizes a State to implement and enforce any law that requires an insurance company conducting business in the State to disclose and make publicly available details regarding insurance policies issued by that company to a policyholder domiciled in the area of the European Continent that was occupied or controlled by Nazi Germany or by any ally or sympathizer of Nazi Germany and that was in effect at any time during the period between 1933 and 1945. Declares that Congress explicitly disapproves any Executive branch policy or agreement that preempts State efforts to collect Holocaust-era insurance information to resolve outstanding claims. | 2023-01-15T06:48:04Z | |
| 108-hr-3135 | 108 | hr | 3135 | To amend the Truth in Lending Act to require a store in which a consumer may apply to open a credit or charge card account to display a sign, at each location where the application may be made, containing the same information required by such Act to be prominently placed in a tabular format on the application. | Finance and Financial Sector | 2003-09-17 | 2003-10-03 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Weiner, Anthony D. [D-NY-9] | NY | D | W000792 | 0 | Amends the Truth in Lending Act to require any person selling personal property to consumers on a business premises to display conspicuously, at each location on the premises where a credit or charge card account may be submitted by a consumer, a sign that contains the same information required by the Act to be prominently placed in tabular format on the account application itself. | 2023-01-15T06:48:04Z | |
| 108-s-1633 | 108 | s | 1633 | Identity Theft Notification and Credit Restoration Act of 2003 | Finance and Financial Sector | 2003-09-17 | 2003-09-18 | Sponsor introductory remarks on measure. (text of measure as introduced: CR S11725-11726) | Senate | Sen. Corzine, Jon S. [D-NJ] | NJ | D | C001042 | 0 | Identity Theft Notification and Credit Restoration Act of 2003 - Amends the Gramm-Leach-Bliley Act to require a financial institution to promptly notify the following entities whenever a breach of personal information has occurred at such institution: (1) each customer affected by such breach; (2) certain consumer reporting agencies; and (3) appropriate law enforcement agencies. Requires any person that maintains personal information for or on behalf of a financial institution to promptly notify the institution of any case in which such customer information has been breached. Prescribes notification procedures. Authorizes a customer injured by a violation of this Act to institute a civil action to recover damages. Amends the Fair Credit Reporting Act to require a consumer reporting agency to include a fraud alert in a consumer file: (1) upon notification by financial institution; and (2) upon consumer request. Requires a consumer reporting agency to ensure that each person procuring credit information with respect to a consumer is made aware of the existence of a fraud alert in the consumer's file, regardless of whether a full credit report, credit score, or summary report is requested. Mandates no-cost consumer access to credit reports and scores once during each calendar year and once every three months during the one-year period beginning on the date on which a fraud alert is included in the consumer file. Directs the Federal Trade Commission (FTC) to promulgate implementing regulations. | 2023-01-15T07:02:58Z | |
| 108-s-1607 | 108 | s | 1607 | Homeowners' Insurance Availability Act of 2003 | Finance and Financial Sector | 2003-09-11 | 2003-09-11 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Graham, Lindsey [R-SC] | SC | R | G000359 | 1 | Homeowners' Insurance Availability Act of 2003 - Instructs the Secretary of the Treasury to implement a reinsurance coverage program available only through contracts for reinsurance coverage purchased at regional auctions. States that the purpose of the program is to improve: (1) the availability of homeowners' insurance for the purpose of facilitating the pooling, and spreading the risk, of catastrophic financial losses from disasters; and (2) the solvency of the homeowners' insurance markets. Prescribes implementation guidelines that include establishment: (1) in the Treasury of the Disaster Reinsurance Fund; and (2) of a National Commission on Catastrophe Risks and Insurance Loss Costs. | 2023-01-15T07:02:59Z | |
| 108-hr-3066 | 108 | hr | 3066 | Clarifications to the Fair Debt Collection Practices Act | Finance and Financial Sector | 2003-09-10 | 2003-10-03 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Garrett, Scott [R-NJ-5] | NJ | R | G000548 | 48 | Clarifications to the Fair Debt Collection Practices Act - Amends the Fair Debt Collection Practices Act to state that formal pleadings in a civil action shall not be considered the kind of communication (initial or otherwise) required for a validation of debt notice. Prescribes an alternative version of the initial communication debt collectors are required to give consumers, incorporating the three statements currently specified. States that collection activities and communications may continue during the 30 days following a debt collector's initial notice to the debtor. States that, if the consumer's attorney at law fails to respond to a communication from a debt collector within 30 days (currently, a reasonable period of time) after receiving a communication from the collector, such collector may communicate directly with the consumer. Limits to one the number of additional communications a debt collector may make to a consumer after the consumer has notified the collector in writing that the consumer refuses to pay the debt or wishes the collector to cease further communication. Limits the content of any such additional communication to one of the three purposes already specified by the Act. Revises notice of debt guidelines to require one of the debt collector's mandatory statements to specify that a consumer's dispute of the validity of a debt be submitted in writing in order to preclude an assumption by the collector that the debt is valid. | 2023-01-15T06:48:06Z | |
| 108-hr-3003 | 108 | hr | 3003 | Customs Business Fairness Act of 2003 | Finance and Financial Sector | 2003-09-04 | 2003-10-22 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Brown, Henry E., Jr. [R-SC-1] | SC | R | B001235 | 8 | Customs Business Fairness Act of 2003 - Amends Federal bankruptcy law governing priority among claims and expenses to place in the tenth order of priority allowed unsecured claims for duties, taxes, or other charges paid to the U.S. Customs Service by customs brokers and sureties on behalf of the debtor arising out of the importation of merchandise entered for consumption within one year before the date of the filing of the petition in bankruptcy. | 2023-01-15T06:48:07Z | |
| 108-hr-2993 | 108 | hr | 2993 | District of Columbia and United States Territories Circulating Quarter Dollar Program Act | Finance and Financial Sector | 2003-09-03 | 2004-03-29 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. King, Peter T. [R-NY-3] | NY | R | K000210 | 6 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) District of Columbia and United States Territories Circulating Quarter Dollar Program Act - Amends Federal law to provide for the issuance of redesigned quarter dollars in 2009 honoring the District of Columbia, the Commonwealth of Puerto Rico, Guam, American Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands. Prohibits such design from bearing the head and shoulders portrait or bust of any person, living or dead, or any portrait of a living person. Provides for: (1) flexibility of inscription placement; (2) design selection by the Secretary of the Treasury after consultation with the chief executive of the District of Columbia or the Territory, and the Commission of Fine Arts, and review by the Citizens Coinage Advisory Committee; (3) treatment as numismatic items; (4) participation by District or territorial officials, artists from the District of Columbia or Territory, engravers of the United States Mint, and members of the general public; and (5) issuance as silver coins. | 2023-01-15T10:18:07Z | |
| 108-s-1508 | 108 | s | 1508 | Federal Enterprise Regulatory Reform Act of 2003 | Finance and Financial Sector | 2003-07-31 | 2004-04-01 | Committee on Banking, Housing, and Urban Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably. | Senate | Sen. Hagel, Chuck [R-NE] | NE | R | H001028 | 4 | Federal Enterprise Regulatory Reform Act of 2003 - Amends the Housing and Community Development Act of 1992 to establish in the Department of the Treasury the Office of Federal Enterprise Supervision. Transfers to the Director of such Office supervisory and regulatory authority over specified government sponsored enterprises (Fannie Mae and Freddie Mac) from the Office of Federal Housing Enterprise Oversight of the Department of Housing and Urban Development (HUD) and from the Secretary of Housing and Urban Development. Prohibits merger or consolidation of such Office or its functions. Requires: (1) the Director to ensure that the enterprises operate in a financially safe manner and remain adequately capitalized; and (2) that each enterprise have prior approval of the Director before implementing a new program. Sets forth operating, administrative, and regulatory provisions of the Director, including provisions respecting: (1) assessment authority; (2) authority to limit nonmission-related assets; (3) minimum and critical capital levels; (4) risk-based capital test; (5) capital classifications and undercapitalized enterprises; (6) enforcement actions and penalties; and (7) reporting. Sets forth certain retained authorities of the Secretary. Abolishes the Office of Federal Housing Enterprise Oversight. Sets forth related transfer of personnel and facility and property provisions. | 2023-01-15T06:17:47Z | |
| 108-s-1532 | 108 | s | 1532 | Financial Literacy Community Outreach Act | Finance and Financial Sector | 2003-07-31 | 2003-07-31 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR 8/1/2003 S10658-10660) | Senate | Sen. Stabenow, Debbie [D-MI] | MI | D | S000770 | 7 | Financial Literacy Community Outreach Act - Establishes the Financial Literacy Commission composed of senior Federal officials to streamline, improve, or augment Federal financial literacy programs, materials and grants, including establishment of: (1) a website to serve as an information clearinghouse for Federal financial literacy programs; and (2) a toll-free telephone number available to the public seeking information about financial literacy issues. | 2023-01-15T06:17:47Z | |
| 108-s-1470 | 108 | s | 1470 | Financial Literacy and Education Coordinating Act of 2003 | Finance and Financial Sector | 2003-07-28 | 2003-07-28 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10062) | Senate | Sen. Sarbanes, Paul S. [D-MD] | MD | D | S000064 | 3 | Financial Literacy and Education Coordinating Act of 2003 - Directs the Secretary of the Treasury to establish within the Office of Financial Education of the Department of the Treasury, the Financial Literacy and Education Coordinating Committee to: (1) coordinate Federal financial literacy and education efforts; (2) develop and implement a national strategy to promote basic financial literacy and education among all Americans; (3) reduce overlap and duplication in Federal financial literacy and education activities; (4) identify the most effective types of public sector financial literacy programs and techniques, as measured by improved consumer decision making; and (5) coordinate and promote financial literacy efforts at the State and local level, including partnerships among Federal, State, and local governments, nonprofit organizations, and private enterprises. | 2023-01-15T06:17:48Z | |
| 108-hr-2969 | 108 | hr | 2969 | United States Employee Ownership Bank Act | Finance and Financial Sector | 2003-07-25 | 2003-08-04 | Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. | House | Rep. Sanders, Bernard [I-VT-At Large] | VT | I | S000033 | 18 | United States Employee Ownership Bank Act - Directs the Secretary of the Treasury to establish the United States Employee Ownership Bank in order to foster increased employee ownership and participation in company decision-making throughout the United States. Lists among the Bank's duties providing loans to enable employees to purchase a business through an employee stock ownership plan or eligible worker-owned cooperative that is at least 51 percent employee-owned. States that such loans are subordinated to the interests of all other creditors, loan guarantees, and technical assistance programs. Amends the Community Reinvestment Act of 1977 to provide that in assessing and taking into account the record of a financial institution, the appropriate Federal financial supervisory agency may consider as a factor capital investments, loans, loan participation, technical assistance, financial advice, grants, and other ventures undertaken by the institution to support or enable manufacturing employees to establish employee stock ownership plans or eligible worker owned cooperatives that are at least 51 percent employee-owned plans or cooperatives. | 2023-01-15T06:02:45Z | |
| 108-s-1458 | 108 | s | 1458 | Financial Institution Privacy Protection Act of 2003 | Finance and Financial Sector | 2003-07-25 | 2003-07-25 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Nelson, Bill [D-FL] | FL | D | N000032 | 0 | Financial Institution Privacy Protection Act of 2003 - Amends the Gramm-Leach-Bliley Act to condition financial institution disclosure of consumer nonpublic personal health information upon the consumer's affirmative consent in writing. Replaces the opt-out requirements governing such a disclosure with a prohibition against denial of a financial service or product to any consumer based upon the consumer's refusal to grant consent to nonpublic personal information disclosure. Requires each financial institution to designate a privacy compliance officer to ensure compliance with privacy requirements. Sets forth civil penalties for noncompliance. | 2023-01-15T06:17:49Z | |
| 108-hr-2796 | 108 | hr | 2796 | Consumer Credit Protection Act Amendments of 2003 | Finance and Financial Sector | 2003-07-18 | 2003-08-04 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Thompson, Bennie G. [D-MS-2] | MS | D | T000193 | 0 | Consumer Credit Protection Act Amendments of 2003 - Amends the Fair Credit Reporting Act to set forth impermissible uses of consumer credit scores by an insurance provider with respect to a consumer or insurance applicant. Mandates that any credit scoring system used to generate any risk or credit score be in compliance with the Equal Credit Opportunity Act. Requires a consumer reporting agency, upon request, to disclose to the consumer clearly and accurately all information in the consumer's file, including: (1) credit consumer reports and any information concerning reports and credit scores; (2) any other risk scores or predictors, including any credit scores used; and (3) a clear, concise summary of how the scores and predictors are derived. Cites circumstances that require a consumer reporting agency to furnish free disclosures upon request. Requires every consumer reporting agency taking adverse action based upon a consumer report to: (1) provide a copy of such report, including other risk scores or predictors, and credit scores used; and (2) provide a written summary of all consumer rights and how to exercise them. | 2023-01-15T05:47:35Z | |
| 108-hr-2778 | 108 | hr | 2778 | Federal Reserve Board Abolition Act | Finance and Financial Sector | 2003-07-17 | 2003-08-04 | Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. | House | Rep. Paul, Ron [R-TX-14] | TX | R | P000583 | 0 | Federal Reserve Board Abolition Act - Abolishes the Board of Governors of the Federal Reserve System and each Federal reserve bank. Repeals the Federal Reserve Act. Prescribes implementation guidelines. | 2023-01-15T05:47:36Z | |
| 108-hr-2779 | 108 | hr | 2779 | Honest Money Act | Finance and Financial Sector | 2003-07-17 | 2003-08-04 | Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. | House | Rep. Paul, Ron [R-TX-14] | TX | R | P000583 | 0 | Honest Money Act - Amends Federal law to repeal the status of U.S. coins and currency as legal tender for all debts, public charges, taxes, and dues (including Federal reserve notes and circulating notes of Federal reserve banks and national banks). | 2023-01-15T05:47:36Z | |
| 108-hr-2724 | 108 | hr | 2724 | Credit Bait and Switch Prevention Act | Finance and Financial Sector | 2003-07-14 | 2003-08-04 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Sanders, Bernard [I-VT-At Large] | VT | I | S000033 | 12 | Credit Bait and Switch Prevention Act - Amends the Fair Credit Reporting Act to prohibit a credit card issuer from using any negative information contained in a consumer report to increase the annual percentage rate applicable to a credit card account, or to remove or increase any introductory annual percentage rate of interest applicable to such account, for reasons other than actions or omissions of the card holder that are directly related to such account. Requires such prohibition to be clearly and conspicuously described to the consumer by the credit card issuer in any mandatory disclosure or statement. | 2023-01-15T05:32:37Z | |
| 108-s-1370 | 108 | s | 1370 | Consumer Credit Score Disclosure Act of 2003 | Finance and Financial Sector | 2003-07-08 | 2003-07-10 | Star Print ordered on the bill. | Senate | Sen. Schumer, Charles E. [D-NY] | NY | D | S000148 | 1 | Consumer Credit Score Disclosure Act of 2003 - Amends the Fair Credit Reporting Act to cite specified consumer credit scoring information that a consumer reporting agency must disclose upon consumer request in connection with an application for an extension of consumer credit secured by a dwelling, including a credit score: (1) derived from a model widely distributed to users of credit scores; or (2) that assists the consumer in understanding the credit scoring assessment of the consumer's credit behavior and predictions about future credit behavior. Requires any person that makes or arranges extensions of consumer credit that are to be secured by a dwelling, and that uses credit scores for that purpose, to provide the consumer with a copy of: (1) the information obtained from a consumer reporting agency or that was developed and used by that user of the credit score information; or (2) a copy of the information provided to the user by a third party that developed the credit score, plus a general description of credit scores, their use, and the sources and kinds of data used to generate credit scores. Declares void any contract provision that prohibits such mandated disclosures. Exempts from contractual liability any user of a credit score for making such a disclosure. | 2023-01-15T06:02:43Z | |
| 108-hr-2609 | 108 | hr | 2609 | Equal Treatment of Pensions and Bankruptcy Act of 2003 | Finance and Financial Sector | 2003-06-26 | 2003-09-04 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Conyers, John, Jr. [D-MI-14] | MI | D | C000714 | 0 | Equal Treatment of Pensions and Bankruptcy Act of 2003 - Amends Federal bankruptcy law to authorize the bankruptcy trustee to avoid a transfer of a debtor's interest in property to any trust or similar arrangement to fund supplemental retirement benefits or other deferred compensation for the benefit of an insider or other management employee made on or within one year before the bankruptcy petition filing date. Authorizes the bankruptcy court, upon request of a party in interest or a committee of creditors, to allow such party or committee to commence and prosecute specified proceedings if the trustee either consents, or fails to commence such proceedings, and if the court finds that doing so is in the best interest of the estate and for the benefit of the estate. | 2023-01-15T16:33:40Z |
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CREATE TABLE legislation (
bill_id TEXT PRIMARY KEY,
congress INTEGER,
bill_type TEXT,
bill_number INTEGER,
title TEXT,
policy_area TEXT,
introduced_date TEXT,
latest_action_date TEXT,
latest_action_text TEXT,
origin_chamber TEXT,
sponsor_name TEXT,
sponsor_state TEXT,
sponsor_party TEXT,
sponsor_bioguide_id TEXT,
cosponsor_count INTEGER DEFAULT 0,
summary_text TEXT,
update_date TEXT,
url TEXT
);
CREATE INDEX idx_leg_congress ON legislation(congress);
CREATE INDEX idx_leg_type ON legislation(bill_type);
CREATE INDEX idx_leg_policy ON legislation(policy_area);
CREATE INDEX idx_leg_date ON legislation(introduced_date);
CREATE INDEX idx_leg_sponsor ON legislation(sponsor_name);
CREATE INDEX idx_leg_sponsor_bioguide ON legislation(sponsor_bioguide_id);