legislation
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205 rows where congress = 109 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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| 109-hr-6424 | 109 | hr | 6424 | Save Affordable Housing and Health Care Facilities Act of 2006 | Finance and Financial Sector | 2006-12-08 | 2006-12-08 | Referred to the House Committee on Financial Services. | House | Rep. Miller, Gary G. [R-CA-42] | CA | R | M001139 | 1 | Save Affordable Housing and Health Care Facilities Act of 2006 - Declares that the maximum dollar amount limitation on commitments to guarantee loans for special risk insurance fund and general insurance fund purposes under the National Housing Act shall be continued for FY2007 at a rate for operations not exceeding $45 billion. Amends the National Housing Act to increase from 275,000 to 300,000 the aggregate number of insured home equity conversion mortgages for elderly homeowners authorized under the Act. | 2019-11-15T20:53:54Z | |
| 109-s-4116 | 109 | s | 4116 | A bill to amend the Federal Deposit Insurance Act, to clarify the scope of provisions relating to applicable rates of interest and other charge limitations. | Finance and Financial Sector | 2006-12-08 | 2006-12-08 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Lincoln, Blanche L. [D-AR] | AR | D | L000035 | 1 | Amends the Federal Deposit Insurance Act with respect to applicable rates of interest and other charge limitations in connection with interstate bank mergers. Sets 17% per annum, or such lower limit as the state legislature may impose, on the maximum interest, discount points, finance charges or fees that may be charged in a state, until judgment, in any loan or credit sale or on any note or other evidence of debt issued to or acquired by any person (other than an insured depository institution) engaged in the business of lending, or of selling or financing the sale of personal property, upon establishment in the state of a branch of any out-of-state insured depository institution. Includes among such persons any person or entity engaged in the business of providing cash advances or loans to a consumer in exchange for the consumer's personal check or share draft, or personal authorization to debit the consumer's transaction acount, in the amount of the advance plus a fee. Includes also any such person or entity that provides such a cash advance or loan in exchange for holding title or means of access to personal property pending repayment of the obligation. | 2018-02-04T01:57:38Z | |
| 109-hr-6416 | 109 | hr | 6416 | Financial Institutions Compliance Simplification Act | Finance and Financial Sector | 2006-12-07 | 2006-12-07 | Referred to the House Committee on Financial Services. | House | Rep. McHenry, Patrick T. [R-NC-10] | NC | R | M001156 | 0 | Financial Institutions Compliance Simplification Act - Amends the Sarbanes-Oxley Act of 2002 to exempt certain insured depository institutions from its requirement that the annual management report contain an assessment of internal controls. | 2019-11-15T20:53:54Z | |
| 109-hr-6392 | 109 | hr | 6392 | Emergency Gulf Coast Child Care Construction and Rebuilding Act | Finance and Financial Sector | 2006-12-06 | 2006-12-06 | Referred to the House Committee on Financial Services. | House | Rep. Jefferson, William J. [D-LA-2] | LA | D | J000070 | 0 | Emergency Gulf Coast Child Care Construction and Rebuilding Act - Amends the Housing and Community Development Act of 1974 to authorize the use of community development block grants to construct and renovate child care facilities located in any major disaster area resulting from Hurricane Katrina or Rita of 2005. Amends the National Housing Act to authorize the Secretary of Housing and Urban Development (HUD) to insure: (1) mortgages for new or substantially rehabilitated child care and development facilities; (2) loans to such facilities for fire safety equipment; and (2) mortgages executed in connection with the purchase or refinancing of existing child care facilities. Directs the Secretary of the Treasury to study and report to Congress on the availability of secondary markets for such mortgages. Authorizes HUD grants to eligible nonprofit organizations for technical and financial assistance to assist eligible child care providers in acquiring or improving facilities or equipment. | 2019-11-15T20:53:54Z | |
| 109-hr-6345 | 109 | hr | 6345 | To make a conforming amendment to the Federal Deposit Insurance Act with respect to examinations of certain insured depository institutions, and for other purposes. | Finance and Financial Sector | 2006-12-05 | 2007-01-11 | Became Public Law No: 109-473. | House | Rep. Bachus, Spencer [R-AL-6] | AL | R | B000013 | 2 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Federal Deposit Insurance Act to increase from $250 million to $500 million the maximum size of a small insured depository institution which the appropriate federal banking agency may subject to a full-scope, on-site examination every 18 months (instead of every 12 months), if the greater amount would be consistent with the principles of institution safety and soundness. | 2023-01-31T21:13:30Z | |
| 109-hr-6366 | 109 | hr | 6366 | CTR Modernization Act | Finance and Financial Sector | 2006-12-05 | 2006-12-05 | Referred to the House Committee on Financial Services. | House | Rep. Jones, Walter B., Jr. [R-NC-3] | NC | R | J000255 | 0 | CTR Modernization Act - Amends federal law governing mandatory reports on currency transactions to exempt depository institutions from the requirement that all domestic financial institutions file a report on every domestic coin and currency transaction. Requires such a depository institution to file a currency transaction report, however, if the transaction involves at least $30,000. Prohibits the Secretary of the Treasury after a certain date from requiring a depository institution to file a currency transaction report regarding a transaction of less than $30,000. Directs the Secretary to: (1) review at least every five years the threshold for reporting currency transactions; and (2) adjust the threshold amount for inflation. Directs the Secretary to prescribe regulations that exempt any depository institution from reporting a currency transaction with a qualified customer. Defines qualified customer as any person that: (1) is incorporated or organized under federal or state law, or registered and eligible to do business within the United States or a state; (2) has maintained a deposit account with the depository institution for at least 12 months; and (3) has engaged, using such account, in multiple currency transactions subject to reporting requirements. Requires the Secretary to prescribe regulations that: (1) provide guidance on identifying currency transactions involving illegal or suspicious activities; and (2) create a list of information that may be disclosed to customers before the reporting of suspicious activity. | 2019-11-15T20:53:53Z | |
| 109-s-4082 | 109 | s | 4082 | A bill to make a conforming amendment to the Federal Deposit Insurance Act with respect to examinations of certain insured depository institutions, and for other purposes. | Finance and Financial Sector | 2006-12-05 | 2006-12-05 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S11199) | Senate | Sen. Crapo, Mike [R-ID] | ID | R | C000880 | 0 | Amends the Federal Deposit Insurance Act to increase from $250 million to $500 million the maximum size of a small insured depository institution which the appropriate federal banking agency may subject to a full-scope, on-site examination every 18 months (instead of every 12 months), if the greater amount would be consistent with the principles of institution safety and soundness. | 2018-02-04T01:54:31Z | |
| 109-hr-6325 | 109 | hr | 6325 | To provide a new effective date for the applicability of certain provisions of law to Public Law 105-331. | Finance and Financial Sector | 2006-11-15 | 2006-11-16 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Pallone, Frank, Jr. [D-NJ-6] | NJ | D | P000034 | 2 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Revises the nonfederal matching requirements conditioning payment to a designated recipient organization of certain proceeds from any surcharges on the sale of Thomas Alva Edison Commemorative Coins. Makes July 1, 2007, the end of the two year period after which there must be deposited in the Treasury as miscellaneous receipts any amounts deriving from such surcharge proceeds which have not been paid to a designated recipient organization solely because of the organization's failure to submit an audited financial statement demonstrating that all matching requirements have been met. | 2023-01-12T17:51:59Z | |
| 109-hr-6323 | 109 | hr | 6323 | Auto Loan Limit Adjustment Act | Finance and Financial Sector | 2006-11-14 | 2006-11-14 | Referred to the House Committee on Financial Services. | House | Rep. Kanjorski, Paul E. [D-PA-11] | PA | D | K000008 | 1 | Auto Loan Limit Adjustment Act - Amends the Home Owners' Loan Act to permit a federal savings association to invest in, sell, or otherwise deal in auto loans and leases acquired for personal, family, or household purposes. | 2023-01-12T17:51:59Z | |
| 109-hr-6324 | 109 | hr | 6324 | To provide a new effective date for the applicability of certain provisions of law to Public Law 105-331. | Finance and Financial Sector | 2006-11-14 | 2006-11-14 | Referred to the House Committee on Financial Services. | House | Rep. Pallone, Frank, Jr. [D-NJ-6] | NJ | D | P000034 | 0 | Extends, until June 30, 2007, the deadline for the Edison Memorial Tower in Edison, New Jersey, to file a specified audited financial statement. | 2023-01-12T17:51:59Z | |
| 109-hr-6272 | 109 | hr | 6272 | Enhanced Emergency and Enforcement Authority Act | Finance and Financial Sector | 2006-09-29 | 2006-10-18 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Campbell, John [R-CA-48] | CA | R | C001064 | 0 | Enhanced Emergency and Enforcement Authority Act - Amends the Securities Exchange Act of 1934 to empower the Securities and Exchange Commission (SEC) to reduce, eliminate, or prevent substantial disruption by an emergency of the ability of market participants to conduct securities activities or comply with obligations under the securities laws in a timely, orderly, or efficient manner. Amends the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Company Act of 1940 to provide that, in any action or proceeding instituted by the SEC in federal district court for any judicial district, subpoenas issued by or on behalf of such court to compel the attendance of witnesses or the production of documents or tangible things (or both) may be served in any other district (thus granting the SEC nationwide service of process). | 2023-01-12T17:52:13Z | |
| 109-hr-6297 | 109 | hr | 6297 | Freedom to Bank Act | Finance and Financial Sector | 2006-09-29 | 2006-10-18 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Paul, Ron [R-TX-14] | TX | R | P000583 | 0 | Freedom to Bank Act - Terminates any provision of federal law (other than the Internal Revenue Code) that subjects a consumer to a penalty for withdrawing or transferring funds from any transaction account or any savings or time deposit. Declares that no creditor, depository institution, or credit union shall be required to provide periodic statements of account to a customer unless the customer has notified it of an election to receive such statements. Requires such entities to establish a procedure for notifying customers of their right to elect to receive statements of account and the method for implementing such election. | 2023-01-12T17:52:12Z | |
| 109-hr-6299 | 109 | hr | 6299 | Protecting Our Children from Age-Restricted Internet Products and Services Act of 2006 | Finance and Financial Sector | 2006-09-29 | 2006-10-18 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Pickering, Charles W. "Chip" [R-MS-3] | MS | R | P000323 | 1 | Protecting Our Children from Age-Restricted Internet Products and Services Act of 2006 - Requires Internet payment processing businesses used by sellers of age-restricted products or services harmful to minors (under age 17) to include: (1) an interactive age verification process; (2) a network of authorized money receiving businesses; (3) a designated Internet payment account for each customer; and (4) procedures for ensuring that the customer's identity and age are independently verified. Establishes in the Department of the Treasury the Office of Electronic Funding Oversight to coordinate federal efforts to prevent minors from purchasing age-restricted products or services on the Internet. Prohibits noncompliant Internet payment processing businesses from processing financial transactions for the purchase of age-restricted products or services harmful to minors.Authorizes the Attorney General or any state Attorney General to apply for an injunction or temporary restraining order to prevent or restrain a violation of this Act. Imposes a fine and/or prison term of up to five years for violations of this Act. | 2023-01-12T17:52:12Z | |
| 109-s-4044 | 109 | s | 4044 | Religious Liberty and Charitable Donation Clarification Act of 2006 | Finance and Financial Sector | 2006-09-29 | 2006-12-20 | Became Public Law No: 109-439. | Senate | Sen. Hatch, Orrin G. [R-UT] | UT | R | H000338 | 1 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Religious Liberty and Charitable Donation Clarification Act of 2006 - Amends federal bankruptcy law with respect to calculation of the projected disposable income of an individual with regular income to meet the requirements for court confirmation of a plan for adjustment of the individual's debts. Removes charitable contributions from the statutory formula used to determine what portion of such contributions is reasonably necessary to be expended for such purposes from a debtor's current monthly income. (Thus allows full deduction of such contributions from current monthly income to arrive at disposable income, consistent with the requirements of the Religious Liberty and Charitable Contribution Protection Act of 1998.) | 2023-01-31T21:12:40Z | |
| 109-hr-6225 | 109 | hr | 6225 | National Insurance Act of 2006 | Finance and Financial Sector | 2006-09-28 | 2006-10-18 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Royce, Edward R. [R-CA-40] | CA | R | R000487 | 0 | National Insurance Act of 2006 - Establishes in the Department of the Treasury an Office of National Insurance, headed by a Commissioner of National Insurance, with Divisions of Insurance Fraud and of Consumer Affairs, and an Office of the Ombudsman. Authorizes the Commissioner to supervise, regulate, and provide for registration of insurance self-regulatory organizations. Requires the Commissioner to supervise National Insurers and National Agencies, including chartering and licensing. Removes them, as well as federally licensed insurance producers from state oversight of insurance business practices. Authorizes the Commissioner to provide for the organization, operation, and regulation of National Insurance Companies and National Insurance Agencies, including U.S. branches of non-U.S. Insurers. Requires National Insurers to obtain a federal license. Provides for conversion of State Insurers to National Insurers or State Insurance Agencies to National Agencies, and vice versa. Prescribes requirements for National Life Insurer product regulation. Authorizes the Commissioner to: (1) license insurers that are not National Insurers to provide reinsurance; and (2) issue federal insurance producer licenses. Provides for: (1) mergers, consolidations, and acquisitions of National Insurers and National Agencies; and (2) conversion of stock life insurers to National Life Insurer in mutual form, and vice versa. Subjects National Insurers and National Agencies to state taxation. Prohibits states from preventing or restricting National Insurers from engaging in specified insurance business practices. Requires registration with the Commissioner of National Insurers that belong to an insurance holding company system. Provides for prompt corrective action to resolve any hazardous financial condition of a National Insurer, or receivership to rehabilitate or liquidate it. Requires National Insurers to join guaranty associations in each state, which may levy assessments on them for purposes of insolvency protection. Establishes a … | 2023-01-12T17:52:14Z | |
| 109-s-3978 | 109 | s | 3978 | Debit and Check Card Consumer Protection Act of 2006 | Finance and Financial Sector | 2006-09-28 | 2006-09-28 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10481) | Senate | Sen. Clinton, Hillary Rodham [D-NY] | NY | D | C001041 | 0 | Debit and Check Card Consumer Protection Act of 2006 - Amends the Electronic Funds Transfer Act regarding consumer liability for unauthorized electronic fund transfers to repeal the provision that financial institutions need not reimburse a consumer for losses that would not have occurred but for the consumer's failure to report an unauthorized electronic fund transfer or account error within a certain time period. Repeals the $500 consumer liability limit for such unauthorized transfers or account errors (thus applying the regular $50 maximum limit currently specified for timely reported unauthorized transfers or account errors). Applies error resolution requirements to any charge for goods or services not accepted by the consumer (or designee), or not delivered to the consumer (or designee), in accordance with the agreement made at the time of a transaction. Sets forth the rights of consumers with respect to issuers of accepted credit and debit cards. | 2023-01-12T17:52:03Z | |
| 109-sconres-118 | 109 | sconres | 118 | A concurrent resolution expressing the sense of the Congress that, as a matter of economic and national security, the United States Government should protect and support United States currency. | Finance and Financial Sector | 2006-09-25 | 2006-09-25 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S10075) | Senate | Sen. Coburn, Tom [R-OK] | OK | R | C000560 | 0 | Expresses the sense of Congress that, as a matter of economic and national security, the U.S. Government should provide U.S. currency with the protection and support necessary to defend its integrity throughout the world, effectively deter counterfeiting, and preserve the status of the dollar as the world's reserve currency. | 2023-01-12T17:52:01Z | |
| 109-hr-6129 | 109 | hr | 6129 | Credit Monitoring Clarification Act | Finance and Financial Sector | 2006-09-20 | 2006-10-18 | Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. | House | Rep. Royce, Edward R. [R-CA-40] | CA | R | R000487 | 7 | Credit Monitoring Clarification Act - Amends the Credit Repair Organizations Act to cite conditions under which provision to a consumer of credit reports, credit score analysis, and assistance in a case of identity theft shall not be considered as an activity to improve a consumer's credit status, which is subject to regulation under such Act. Exempts from regulation under such Act any person (credit repair organization, or CRO) representing that it can modify or remove, or assist the consumer in modifying or removing, any information in the consumer's credit report if the CRO gives clear and conspicuous notice, before the consumer pays or agrees to pay it, that: (1) neither the consumer nor anyone else has the right to have accurate and current information removed from a credit report; and (2) the consumer has the right to dispute any inaccurate information by contacting the credit bureau directly. Requires a CRO, to qualify for this exemption from regulation, also to give the consumer, before payment or agreement to pay, a specified disclosure entitled "Your Rights Concerning Your Consumer Credit File." | 2023-01-12T17:52:18Z | |
| 109-hr-6072 | 109 | hr | 6072 | Financial Services Regulatory Relief Amendments Act of 2006 | Finance and Financial Sector | 2006-09-14 | 2006-11-13 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Ross, Mike [D-AR-4] | AR | D | R000573 | 1 | (This measure has not been amended since it was introduced. The summary of that version has been expanded because action occurred on the measure.) Financial Services Regulatory Relief Amendments Act of 2006 - (Sec. 2) Amends the Federal Deposit Insurance Act regarding depository institutions lacking federal deposit insurance to authorize the state supervisor of a private deposit insurer, or of a depository institution which receives deposits insured by a private deposit insurer, to examine and enforce compliance with the requirement that a private deposit insurer obtain annual independent audits. Requires depository institutions without federal deposit insurance to disclose on every share certificate that: (1) the institution is not federally insured; and (2) if it fails, the federal government does not guarantee that depositors will get back their money. Revises the requirement that such institutions disclose conspicuously in all advertising and at each place where deposits are normally received that the institution is not federally insured. Requires such a notice also on the institution's main Internet page. Makes an exception to such requirement for: (1) statements or reports of financial condition required to be published or posted by state or federal law or regulation; (2) any sign, document, or other item containing the institution's name, logo, or contact information, if no products, services, or other promotional information is included; and (3) small utilitarian items that do not mention deposit products or insurance if inclusion of the notice would be impractical. Requires the institution to obtain or attempt to obtain a written acknowledgment of such disclosure from new depositors acquired through a conversion or merger. Repeals the prohibition against use of the mails to receive deposits by any depository institution lacking federal deposit insurance unless a state supervisor determines that it meets all requirements for federal deposit insurance. Repeals coverage as a depository institution under th… | 2023-01-12T17:52:20Z | |
| 109-hr-6079 | 109 | hr | 6079 | Hedge Fund Study Act | Finance and Financial Sector | 2006-09-14 | 2006-11-13 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Castle, Michael N. [R-DE-At Large] | DE | R | C000243 | 3 | Hedge Fund Study Act - Instructs the President's Working Group on Financial Markets to study and report to certain congressional committees on the hedge fund industry. (Sec. 2) Requires the study to analyze: (1) the changing nature of hedge funds and what characteristics define a hedge fund; (2) the growth of hedge funds within financial markets; (3) the growth of pension funds investing in hedge funds; (4) whether hedge fund investors are able to protect themselves adequately from the risk associated with their investments; (5) whether hedge fund leverage is effectively constrained; (6) the potential risks hedge funds pose to financial markets or to investors; (7) various international approaches to hedge fund regulation; and (8) benefits of the hedge fund industry to the economy and the markets. Requires the recommendations to include: (1) any proposed legislation relating to appropriate disclosure requirements for hedge funds; (2) the type of information hedge funds should disclose to regulators and to the public; (3) any efforts the hedge fund industry or regulators of financial institutions should undertake to improve practices or provide examples of successful industry initiatives; and (4) any oversight responsibilities that members of the President's Working Group should have over the hedge fund industry, and the degree and scope of such oversight. | 2023-01-12T17:52:19Z | |
| 109-hr-6062 | 109 | hr | 6062 | Community Development Investment Enhancements Act of 2006 | Finance and Financial Sector | 2006-09-13 | 2006-11-13 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Frank, Barney [D-MA-4] | MA | D | F000339 | 1 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Community Development Investment Enhancements Act of 2006 - Amends the Revised Statues of the United States and the Federal Reserve Act to increase from 10% to 15% of its capital stock actually paid in and unimpaired, and from 10% to 15% of its unimpaired surplus fund, the maximum aggregate community development investments of a national banking association or a state member bank, including its subsidiaries. Applies such limits to each such investment. Amends the Home Owners' Loan Act to authorize a federal savings association to make investments designed primarily to promote the public welfare, including the welfare of low- and moderate-income communities or families through the provision of housing, services, and jobs (community development investments). Permits such investments to be made directly or by purchase of interests in an entity primarily engaged in making such investments. Prohibits a federal savings association from making an investment which would subject it to unlimited liability to any person. Requires the Director of the Office of Thrift Supervision to establish: (1) the amount any savings association may invest in any one project; and (2) the aggregate amount of investment of any savings association. Restricts the aggregate amount of investment of any savings association, subject to specified determinations made by the Director. Prohibits the maximum aggregate amount of investments of any savings association from exceeding the same 15% of its capital stock actually paid in and unimpaired and 15% of its unimpaired surplus as imposed by this Act on national banking associations and state member banks. | 2023-01-12T17:52:20Z | |
| 109-s-3850 | 109 | s | 3850 | Credit Rating Agency Reform Act of 2006 | Finance and Financial Sector | 2006-09-06 | 2006-09-29 | Became Public Law No: 109-291. | Senate | Sen. Shelby, Richard C. [R-AL] | AL | R | S000320 | 1 | (This measure has not been amended since it was passed by the Senate on September 22, 2006. The summary of that version is repeated here.) Credit Rating Agency Reform Act of 2006 - (Sec. 4) Amends the Securities Exchange Act of 1934 to require nationally recognized statistical rating organizations (NRSROs) to register with the Securities and Exchange Commission (SEC). Requires registration applications, among other items, to include on a confidential basis: (1) a list of the 20 largest securities issuers and subscribers that use the applicant's rating services; and (2) certifications from at least 10 qualified institutional buyers (QIBs) that they have used the ratings for at least the three most recent years, including two certifications for each type of rating the applicant will issue. Exempts from the latter written certification requirement any credit rating agency which has received, or been the subject of, a no-action letter from the SEC staff before August 2, 2006, stating that such staff would not recommend enforcement action against any broker or dealer that considers credit ratings issued by such credit rating agency to be ratings from an NRSRO. Requires the SEC within 90 days of receiving an application to grant registration or institute proceedings to determine whether not to. Requires the SEC to grant registration unless the applicant does not have adequate financial and managerial resources to consistently produce credit ratings with integrity and to comply materially with the procedures and methodologies disclosed in its application. Requires each NRSRO to certify annually that the application documents (other than the QIB certifications) remain accurate, and to list any material changes that occurred. Grants the SEC exclusive enforcement authority over any NRSRO that issues credit ratings in material contravention of the procedures included in its registration application. Prohibits the SEC or any state or or local government from regulating the substance of credit ratings or the procedures and m… | 2023-03-24T16:27:31Z | |
| 109-hr-5956 | 109 | hr | 5956 | Fair Fund Improvement Act | Finance and Financial Sector | 2006-07-28 | 2006-07-28 | Referred to the House Committee on Financial Services. | House | Rep. Baker, Richard H. [R-LA-6] | LA | R | B000072 | 4 | Fair Fund Improvement Act - Amends the Sarbanes-Oxley Act of 2002 to revise the requirement that, if the Securities Exchange Commission (SEC) obtains an order requiring disgorgement for a violation, and also obtains a civil penalty, such penalty shall, at SEC motion or discretion, be added to the disgorgement fund for the benefit of victims. Repeals the initial requirement for a disgorgement order. Declares that, if the SEC obtains a civil penalty for violation of securities laws, the penalty shall, upon SEC motion, be added to and become part of a disgorgement or other fund established for the benefit of the victims of such violation. Authorizes the SEC to enter into contracts to retain private legal counsel to collect delinquent judgments and orders. | 2023-01-12T17:52:33Z | |
| 109-hr-5984 | 109 | hr | 5984 | Unredeemed U.S. Savings Bond Return Act of 2006 | Finance and Financial Sector | 2006-07-28 | 2006-07-28 | Referred to the House Committee on Ways and Means. | House | Rep. Camp, Dave [R-MI-4] | MI | R | C000071 | 1 | Unredeemed U.S. Savings Bond Return Act of 2006 - Instructs the Secretary of the Treasury to prescribe regulations authorizing states to enter into owner location and claims agreements with the Secretary in order to: (1) locate owners of specified unredeemed savings bonds; (2) identify such owners; and (3) process and verify claims for the redemption of such savings bonds. | 2023-01-12T17:52:33Z | |
| 109-hr-6010 | 109 | hr | 6010 | Accurate Great Lakes Flood Estimate Act of 2006 | Finance and Financial Sector | 2006-07-28 | 2006-07-28 | Referred to the House Committee on Financial Services. | House | Rep. Miller, Candice S. [R-MI-10] | MI | R | M001150 | 0 | Accurate Great Lakes Flood Estimate Act of 2006 - Amends the National Flood Insurance Act of 1968 to set a deadline by which the Director of the Federal Emergency Management Agency shall request the Corps of Engineers to complete an updated analysis of flood levels for areas surrounding the Great Lakes and their interconnecting channels in order to assist the Director in the development of maps identifying 100- and 500-year flood inundation areas. Prohibits the Director from increasing the base flood elevation in any community in areas surrounding the Great Lakes and their interconnecting channels until the Corps of Engineers completes the first updated flood level analysis. Identifies such channels as the St. Mary's River, St. Clair River, Lake St. Clair, the Detroit River, the Niagara River, and the St. Lawrence River. | 2023-01-12T17:52:32Z | |
| 109-hr-5891 | 109 | hr | 5891 | Catastrophic Disaster Risk and Insurance Commission Act of 2006 | Finance and Financial Sector | 2006-07-26 | 2006-07-26 | Referred to the House Committee on Financial Services. | House | Rep. Wasserman Schultz, Debbie [D-FL-20] | FL | D | W000797 | 14 | Catastrophic Disaster Risk and Insurance Commission Act of 2006 - Establishes the Catastrophic Disaster Risk and Insurance Commission to assess: (1) the condition of the property and casualty insurance and reinsurance markets in the aftermath of Hurricanes Katrina, Rita, and Wilma in 2005, and the four major hurricanes that struck the United States in 2004; and (2) the ongoing exposure of the United States to hurricanes, typhoons, earthquakes, volcanic eruptions, tsunamis, floods, wildfires, and other extreme weather events or natural disasters. | 2023-01-12T17:52:35Z | |
| 109-hr-5818 | 109 | hr | 5818 | Currency Overhaul for an Industrious Nation (COIN) Act | Finance and Financial Sector | 2006-07-17 | 2006-08-31 | Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. | House | Rep. Kolbe, Jim [R-AZ-8] | AZ | R | K000306 | 5 | Currency Overhaul for an Industrious Nation (COIN) Act - Amends federal law governing coins and currency to prescribe requirements for redesign and issuance of commemorative circulating $2 Federal Reserve notes. Requires selection of a new design for $2 Federal Reserve notes placed into circulation during each year of the five-year periods beginning January 1, 2007. Authorizes Federal Reserve banks to continue to place into circulation $1 Federal Reserve notes until a date determined according to certain criteria. Transfers the U.S. Mint and the Bureau of Engraving and Printing to the Federal Reserve Board. Requires the design and issuance of a circulating quarter dollar honoring the District of Columbia and each of the Territories. | 2023-01-12T17:52:37Z | |
| 109-s-3662 | 109 | s | 3662 | Credit Monitoring Enhancement Act of 2006 | Finance and Financial Sector | 2006-07-14 | 2006-07-14 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Bennett, Robert F. [R-UT] | UT | R | B000382 | 2 | Credit Monitoring Enhancement Act of 2006 - Amends the Credit Repair Organizations Act to cite conditions under which provision to a consumer of credit reports, credit score analysis, and assistance with identity theft shall not be treated as an activity to improve a consumer's credit status, which is subject to regulation under such Act. Revises credit repair organization disclosure requirements. | 2023-01-12T17:52:29Z | |
| 109-hr-5789 | 109 | hr | 5789 | To amend title 31, United States Code, to modernize cash management by allowing the use of certain obligations instead of surety bonds. | Finance and Financial Sector | 2006-07-13 | 2006-07-13 | Referred to the House Committee on the Judiciary. | House | Rep. Fitzpatrick, Michael G. [R-PA-8] | PA | R | F000451 | 1 | Amends federal law governing surety bonds to repeal the definition of government obligation as a public debt obligation of the U.S. government whose principal and interest is unconditionally guaranteed by the government. Defines as an eligible obligation any security designated by the Secretary of the Treasury as acceptable in lieu of a surety bond. Authorizes the use of an eligible obligation instead of a surety bond if its market value, as determined by the Secretary, is equal to or greater than the amount of the required surety bond. | 2023-01-12T17:52:38Z | |
| 109-hr-5757 | 109 | hr | 5757 | To amend title 11 of the United States Code with respect to converting chapter 7 cases of certain debtors who are victims of identity theft. | Finance and Financial Sector | 2006-07-11 | 2006-07-11 | Referred to the House Committee on the Judiciary. | House | Rep. Brown, Sherrod [D-OH-13] | OH | D | B000944 | 4 | Amends federal bankruptcy law governing dismissal or conversion of a chapter 7 case (Liquidation) (individual bankruptcy) to chapter 11 (Reorganization) or chapter 13 (Adjustment of Debts of an Individual with Regular Income). Prohibits a judge, trustee, or other party in interest from filing a motion to dismiss or convert resting upon a presumption of abuse of the bankruptcy law if the aggregate amount of (primarily consumer debt) claims against the debtor (and debtor's spouse) resulted from identity theft in excess of specified amounts. | 2023-01-12T17:52:39Z | |
| 109-hres-909 | 109 | hres | 909 | Encouraging the United States financial services industry to develop, test, and implement systemic plans to address the challenges and risks posed by pandemic or bioterrorism events to the national and international economies, and for other purposes. | Finance and Financial Sector | 2006-07-11 | 2006-07-17 | Referred to the Subcommittee on Commerce, Trade and Consumer Protection, for a period to be subsequently determined by the Chairman . | House | Rep. Price, Tom [R-GA-6] | GA | R | P000591 | 2 | Encourages all participants in the U.S. financial services industry to develop, test, and implement systemic plans to address the challenges and risks posed by pandemic or bioterrorism events to the national and international economies. States that such plans should encompass: (1) financial institutions; (2) financial systems and markets; and (3) businesses, consumers, and investor levels. Encourages U.S. citizens to: (1) become informed about the financial and other risks of pandemic and bioterrorism events; (2) consider how those risks may affect them as individuals, families, business people, and consumers; and (3) prepare appropriate plans and responses. | 2023-01-12T17:52:32Z | |
| 109-hr-5746 | 109 | hr | 5746 | Industrial Bank Holding Company Act of 2006 | Finance and Financial Sector | 2006-07-10 | 2006-07-10 | Referred to the House Committee on Financial Services. | House | Rep. Gillmor, Paul E. [R-OH-5] | OH | R | G000210 | 56 | Industrial Bank Holding Company Act of 2006 - Requires an industrial bank holding company to register and file certain reports with the Federal Deposit Insurance Corporation (FDIC) within ninety days after becoming an industrial bank holding company Prohibits such holding company from being controlled by a commercial firm. Grandfathers certain institutions to exempt them from the requirements of this Act. | 2023-01-12T17:52:39Z | |
| 109-hr-5712 | 109 | hr | 5712 | Securities and Exchange Commission Authority Restoration Act of 2006 | Finance and Financial Sector | 2006-06-29 | 2006-07-18 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Frank, Barney [D-MA-4] | MA | D | F000339 | 3 | Securities and Exchange Commission Authority Restoration Act of 2006 - Amends the Investment Advisers Act of 1940 with respect to the exemption from the requirement of registration for any investment adviser: (1) who has had fewer than fifteen clients during the course of the preceding twelve months; and (2) who neither holds himself out generally to the public as an investment adviser, nor acts an an investment adviser to any registered investment company or a company which has elected to be a business development company. Authorizes the Securities and Exchange Commission (SEC) to: (1) limit the availability of this exemption; and (2) require the registration of any investment adviser by requiring that certain shareholders, partners, and beneficial owners of, or investors in, clients of the adviser be counted as clients themselves. | 2023-01-13T04:50:46Z | |
| 109-hres-900 | 109 | hres | 900 | Supporting intelligence and law enforcement programs to track terrorists and terrorist finances conducted consistent with Federal law and with appropriate congressional consultation. | Finance and Financial Sector | 2006-06-29 | 2006-06-29 | Referred to the House Committee on Financial Services. | House | Rep. Frank, Barney [D-MA-4] | MA | D | F000339 | 136 | Declares that the House of Representatives: (1) supports efforts to identify, track, and pursue suspected foreign terrorists and their financial supporters by tracking terrorist money flows and uncovering terrorist networks here and abroad in accordance with existing applicable law, but notes that the expression of such support in this resolution should not be construed as providing additional authority for such efforts; and (2) expresses concern that the unauthorized disclosure of classified information may have made efforts to locate terrorists and terrorist networks, and disrupt their plans, more difficult. | 2023-01-13T04:50:43Z | |
| 109-s-3568 | 109 | s | 3568 | Data Security Act of 2006 | Finance and Financial Sector | 2006-06-26 | 2006-06-26 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Bennett, Robert F. [R-UT] | UT | R | B000382 | 3 | Data Security Act of 2006 - Prescribes security procedures which an entity that maintains or communicates sensitive account or personal information must implement and enforce in order to protect the information from an unauthorized use likely to result in substantial harm or inconvenience to the consumer. Grants exclusive enforcement powers to specified federal regulatory agencies with oversight of financial institutions. Prescribes data security standards to be implemented by federal agencies. Preempts state law with respect to the responsibilities of any person to protect against and investigate such data security breaches and mitigate any losses or harm resulting from them. | 2023-01-13T04:50:37Z | |
| 109-hr-5637 | 109 | hr | 5637 | Nonadmitted and Reinsurance Reform Act of 2006 | Finance and Financial Sector | 2006-06-19 | 2006-11-13 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Brown-Waite, Ginny [R-FL-5] | FL | R | B001247 | 20 | Nonadmitted and Reinsurance Reform Act of 2006 - Title I: Nonadmitted Insurance - (Sec. 101) Prohibits any state other than the home state of an insured from requiring a premium tax payment for nonadmitted insurance (property and casualty insurance, usually for unique or hard-to-place risks, permitted to be placed directly or through a surplus lines broker with an eligible nonadmitted insurer, that is, an insurer not licensed to engage in the insurance business in a state). Authorizes states to enter into a compact or otherwise establish procedures to allocate among them the premium taxes paid to an insured's home state. Declares that Congress intends that each state adopt a nationwide or uniform procedure, such as an interstate compact, that provides for the reporting, payment, collection, and allocation of premium taxes for nonadmitted insurance. Allows an insured's home state to require surplus lines brokers (licensed in a state to sell, solicit, or negotiate insurance with nonadmitted insurers) and insureds who have independently procured insurance to file tax allocation reports annually with the insured's home state detailing the portion of the nonadmitted insurance policy premium or premiums attributable to properties, risks or exposures located in each state. (Sec. 102) Subjects nonadmitted insurance solely to the regulatory requirements of the insured's home state. Declares that only an insured's home state may: (1) require a surplus lines broker to be licensed to sell, solicit, or negotiate nonadmitted insurance with respect to such insured; or (2) enforce regulations governing nonadmitted insurance. Exempts workers' compensation insurance from the home state preemption. (Sec. 103) Prohibits a state from collecting fees relating to licensure of a surplus lines broker in the state unless it has a regulatory mechanism in effect for participation in the national insurance producer database of the National Association of Insurance Commissioners (NAIC). (Sec. 104) Prohibits a state from: (1) establishing eli… | 2023-01-13T04:50:48Z | |
| 109-s-3518 | 109 | s | 3518 | A bill to amend the Credit Repair Organizations Act to establish a new disclosure statement. | Finance and Financial Sector | 2006-06-15 | 2006-06-15 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Bennett, Robert F. [R-UT] | UT | R | B000382 | 0 | Amends the Credit Repair Organizations Act to require the disclosure statement a credit repair organization must provide to any consumer before any contract or agreement is executed to notify the consumer of his or her right to obtain a free copy of his or her credit report once every 12 months from each of the nationwide consumer reporting agencies. | 2023-01-13T04:50:38Z | |
| 109-hconres-429 | 109 | hconres | 429 | Recognizing the low presence of minorities in the financial services industry and minorities and women in upper level positions of management, and expressing the sense of the Congress that active measures should be taken to increase the demographic diversity of the financial services industry. | Finance and Financial Sector | 2006-06-13 | 2006-07-24 | Referred to the Subcommittee on Education Reform. | House | Rep. Meeks, Gregory W. [D-NY-6] | NY | D | M001137 | 81 | Declares that Congress: (1) recognizes that minorities and women still face unique challenges entering into and obtaining upper level positions within the financial services industry; and (2) encourages financial institutions to take specified steps to increase participation of women and minorities in the industry. Expresses the sense of Congress that: (1) active measures should be taken by employers and educational institutions to increase the demographic diversity of the financial services industry; and (2) diversity within the financial services industry is vitally important not only to promoting innovation and creativity in the industry but to developing a more inclusive workforce for a fair and just economy. | 2023-01-13T04:50:52Z | |
| 109-hr-5585 | 109 | hr | 5585 | Financial Netting Improvements Act of 2006 | Finance and Financial Sector | 2006-06-12 | 2006-12-12 | Became Public Law No: 109-390. | House | Rep. McHenry, Patrick T. [R-NC-10] | NC | R | M001156 | 1 | (This measure has not been amended since it was passed by the Senate on September 30, 2006. The summary of that version is repeated here.) Financial Netting Improvements Act of 2006 - (Sec. 2) Amends the Federal Deposit Insurance Act (FDIA) and the Federal Credit Union Act to revise treatment of certain agreements entered into before appointment of depository institution conservators or receivers, including securities contracts, forward contracts, and swap agreements. (Sec. 3) Defines "person" to include any governmental entity. (Sec. 4) Amends the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) to revise certain requirements pertinent to bilateral netting to declare that the covered contractual payment obligations and the covered contractual payment entitlements between any two financial institutions shall be terminated, liquidated, accelerated, and netted in accordance with, and subject to the conditions of, the terms of any applicable netting contract. Declares, with respect to clearing organization netting, that the covered contractual payment obligations and the covered contractual payment entitlements of a member of a clearing organization to and from all other organization members shall be terminated, liquidated, accelerated, and netted in accordance with and subject to the conditions of any applicable netting contract. (Sec. 5) Makes conforming amendments to the FDICIA, federal bankruptcy law, and the Securities Investor Protection Act of 1970. Amends the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 to state that the meanings of terms used in the Act are applicable for its purposes only, and shall not be construed or applied so as to challenge or affect the characterization, definition, or treatment of any similar terms under any other statute, regulation, or rule, including the Gramm-Leach-Bliley Act, the Legal Certainty for Bank Products Act of 2000, the securities laws, and the Commodity Exchange Act. (Sec. 6) Amends the Federal Deposit Insurance Act … | 2023-01-31T21:43:26Z | |
| 109-hr-5587 | 109 | hr | 5587 | Commission on Catastrophic Disaster Risk and Insurance Act of 2006 | Finance and Financial Sector | 2006-06-12 | 2006-06-12 | Referred to the House Committee on Financial Services. | House | Rep. Meek, Kendrick B. [D-FL-17] | FL | D | M001148 | 4 | Commission on Catastrophic Disaster Risk and Insurance Act of 2006 - Establishes a bipartisan Commission on Catastrophic Disaster Risk and Insurance to assess: (1) the condition of the property and casualty insurance and reinsurance markets in the aftermath of Hurricanes Katrina, Rita, and Wilma in 2005, and the four major hurricanes that struck the United States in 2004; (2) the ongoing exposure of the United States to earthquakes, volcanic eruptions, tsunamis, and floods; and (3) recommend and report legislative and regulatory changes that will improve the domestic and international financial health and competitiveness of such markets. | 2023-01-13T04:50:49Z | |
| 109-s-3486 | 109 | s | 3486 | Veterans and Military Privacy Protection Act of 2006 | Finance and Financial Sector | 2006-06-08 | 2006-06-08 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Rockefeller, John D., IV [D-WV] | WV | D | R000361 | 7 | Veterans and Military Privacy Protection Act of 2006 - Directs the Federal Trade Commission (FTC) to develop and implement a program of financial counseling and support to any veteran, spouse of a veteran, and other person who may be a victim of identity theft as a result of the security breach at the Department of Veterans Affairs (VA) on May 3, 2006. Amends the Fair Credit Reporting Act to direct each consumer reporting agency (CRA), upon the request of such a veteran, spouse, or other person, to provide automatic extended fraud alerts to such individuals. Authorizes the placement in the files of such an individual of a security freeze by a CRA, after which the CRA may not release information from their file for consumer credit purposes to a third party without prior express written authorization from the individual. Requires notification to such individual by a CRA before the removal of a security freeze. Provides security freeze exceptions. Amends the federal criminal code to double the penalties for identity theft when the victim is one of the above individuals. Requires Comptroller General studies on: (1) VA data protection; (2) VA security breach investigation; (3) an FTC program for veterans and others at risk of identity theft; and (4) federal agency compliance with personal data protection requirements. | 2023-01-13T04:50:39Z | |
| 109-hr-5482 | 109 | hr | 5482 | Identity Theft Protection Act of 2006 | Finance and Financial Sector | 2006-05-25 | 2006-07-18 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Maloney, Carolyn B. [D-NY-14] | NY | D | M000087 | 13 | Identity Theft Protection Act of 2006 - Amends the Fair Credit Reporting Act to permit a consumer to request a consumer reporting agency to place a security freeze upon his consumer report. Prohibits a consumer reporting agency, if a security freeze is in place, from releasing a consumer report to a third party without prior express authorization from the consumer. Prescribes procedures for removal and temporary suspension of a security freeze. Requires a consumer reporting agency to notify the consumer in writing before removing the security freeze. Identifies specified entities, including governmental agencies, to which these prohibitions and requirements do not apply. Permits a consumer reporting agency to charge a reasonable fee for placing or temporarily suspending a security freeze on a consumer report. Prohibits a consumer reporting agency from charging a fee for placing, removing, or temporarily suspending a security freeze if a consumer: (1) has either filed a police report, or made a complaint to a police department concerning identity theft; or (2) has received notice that a breach of data security has occurred with respect to information required by law to be maintained securely and in confidence. Exempts specified entities from this Act, including certain aggregators and other agencies acting only as resellers of credit information which do not maintain a permanent data base of consumer information from which new consumer reports are produced. | 2023-01-13T04:48:25Z | |
| 109-hr-5491 | 109 | hr | 5491 | Securities Litigation Attorney Accountability and Transparency Act | Finance and Financial Sector | 2006-05-25 | 2006-05-25 | Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | House | Rep. Baker, Richard H. [R-LA-6] | LA | R | B000072 | 7 | Securities Litigation Attorney Accountability and Transparency Act - Amends the Securities Exchange Act of 1934 and the Securities Act of 1933 to require, in any private action in which the court enters a final judgment, that the court award the defendant reasonable fees and expenses, and impose such fees and expenses on the plaintiff's attorney, if the plaintiff's position was not substantially justified. Requires each plaintiff and plaintiff's attorney in a private action to provide sworn certifications, filed with the complaint, that identify any conflict of interest, including any direct or indirect payment, between the attorney and the plaintiff. Authorizes the court, in exercising its discretion over the approval of lead counsel, to employ alternative means in the selection and retention of counsel for the most adequate plaintiff, including a competitive bidding process. | 2023-01-13T04:48:25Z | |
| 109-s-3114 | 109 | s | 3114 | Commission on Catastrophic Disaster Risk and Insurance Act of 2006 | Finance and Financial Sector | 2006-05-25 | 2006-05-26 | Sponsor introductory remarks on measure. (CR S5332-5333) | Senate | Sen. Nelson, Bill [D-FL] | FL | D | N000032 | 3 | Commission on Catastrophic Disaster Risk and Insurance Act of 2006 - Establishes a bipartisan Commission on Catastrophic Disaster Risk and Insurance to assess: (1) the condition of the property and casualty insurance and reinsurance markets in the aftermath of Hurricanes Katrina, Rita, and Wilma in 2005, and the four major hurricanes that struck the United States in 2004; (2) the ongoing exposure of the United States to earthquakes, volcanic eruptions, tsunamis, and floods; and (3) recommend and report legislative and regulatory changes that will improve the domestic and international financial health and competitiveness of such markets. | 2023-01-13T04:48:10Z | |
| 109-s-3117 | 109 | s | 3117 | Homeowners Protection Act of 2006 | Finance and Financial Sector | 2006-05-25 | 2006-05-26 | Sponsor introductory remarks on measure. (CR S5332-5333) | Senate | Sen. Nelson, Bill [D-FL] | FL | D | N000032 | 0 | Homeowners Protection Act of 2006 - Directs the Secretary of the Treasury to establish the National Commission on Catastrophe Preparation and Protection to advise the Secretary regarding: (1) estimated loss costs associated with the contracts for reinsurance coverage; and (2) development of prevention, mitigation, recovery, and rebuilding standards that better prepare and protect the United States from catastrophes. Instructs the Secretary to implement a program designed to make homeowners protection coverage available through contracts for reinsurance. Prescribes guidelines governing: (1) qualified lines of coverage; (2) covered perils; (3) contracts for reinsurance coverage for eligible state programs; and (4) minimum level of retained losses and maximum federal liability. Establishes the Consumer HELP Fund for: (1) payments to covered purchasers under contracts for reinsurance coverage; and (2) operating and administrative costs. | 2023-01-13T04:48:10Z | |
| 109-s-3176 | 109 | s | 3176 | Veterans Privacy Protection Act of 2006 | Finance and Financial Sector | 2006-05-25 | 2006-05-25 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S5252-5254) | Senate | Sen. Rockefeller, John D., IV [D-WV] | WV | D | R000361 | 4 | Veterans Privacy Protection Act of 2006 - Directs the Federal Trade Commission (FTC) to develop and implement a program of financial counseling and support to any veteran (and spouse of a veteran) who may be a victim of identity theft as a result of the security breach at the Department of Veterans Affairs (VA) on May 3, 2006. Amends the Fair Credit Reporting Act to direct each consumer reporting agency (CRA), upon the request of such a veteran or spouse, to provide automatic extended fraud alerts to such individuals. Authorizes the placement in the files of such a veteran or spouse of a security freeze by a CRA, after which the CRA may not release information from their file for consumer credit purposes to a third party without prior express written authorization from such veteran or spouse. Requires notification to the spouse or veteran by a CRA before the removal of a security freeze. Provides security freeze exceptions. Amends the federal criminal code to double the penalties for identity theft when the victim is a veteran or their spouse. Requires Comptroller General studies on: (1) VA data protection; (2) VA security breach investigation; (3) an FTC program for veterans and spouses at risk of identity theft; and (4) federal agency compliance with personal data protection requirements. | 2023-01-13T04:50:57Z | |
| 109-hr-5469 | 109 | hr | 5469 | Honest Income Disclosure Act | Finance and Financial Sector | 2006-05-24 | 2006-05-24 | Referred to the House Committee on Financial Services. | House | Rep. Gillmor, Paul E. [R-OH-5] | OH | R | G000210 | 2 | Honest Income Disclosure Act - Amends the Securities Exchange Act of 1934 to instruct the Securities and Exchange Commission (SEC) to issue revised regulations requiring certain mandatory annual reports to include the income reported by the issuer to the Internal Revenue Service for the most recent taxable year, presented in a prominent location and in a manner that permits a ready comparison of such income to income otherwise required to be included. Requires such information to be: (1) suitable for entry into the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR); and (2) immediately available via that system, upon receipt. | 2023-01-13T04:48:26Z | |
| 109-hr-5445 | 109 | hr | 5445 | Credit Repair Organizations Act Technical Corrections Act | Finance and Financial Sector | 2006-05-22 | 2006-05-22 | Referred to the House Committee on Financial Services. | House | Rep. Price, Tom [R-GA-6] | GA | R | P000591 | 2 | Credit Repair Organizations Act Technical Corrections Act - Amends the Credit Repair Organizations Act to cite conditions under which provision to a consumer of credit reports, credit score analysis, and assistance with identity theft shall not be treated as an activity to improve a consumer's credit status, which is subject to regulation under such Act. Revises credit repair organization disclosure requirements. | 2023-01-13T04:48:26Z | |
| 109-s-2856 | 109 | s | 2856 | Financial Services Regulatory Relief Act of 2006 | Finance and Financial Sector | 2006-05-18 | 2006-10-13 | Became Public Law No: 109-351. | Senate | Sen. Crapo, Mike [R-ID] | ID | R | C000880 | 0 | (This measure has not been amended since it was passed by the House on September 27, 2006. The summary of that version is repeated here.) Financial Services Regulatory Relief Act of 2006 - Title I: Broker Relief - (Sec. 101) Amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC) and the Board of Governors of the Federal Reserve System (Board) to: (1) jointly adopt a single set of rules or regulations implementing statutory exceptions to the definition of "broker" within the context of specified banking activities; and (2) seek the concurrence of the federal banking agencies prior to jointly adopting such rules or regulations. States that such jointly adopted rules or regulations supersede any proposed or final rules issued by the SEC on or after the enactment of the Gramm-Leach-Bliley Act with regard to the exceptions to the definition of broker. Title II: Monetary Policy Provisions - (Sec. 201) Amends the Federal Reserve Act to: (1) authorize payment of interest on funds maintained by a depository institution at a Federal Reserve bank; and (2) authorize the Federal Reserve Board to reduce to 0% the reserves required to be maintained by a depository institution against its transaction accounts. (The current requirement ranges from 3% to 14%.) Declares October 1, 2011, as the effective date for the amendments made by this title. Title III: National Bank Provisions - (Sec. 301) Amends the Revised Statutes of the United States to allow cumulative voting by shareholders for directors of a national bank only if authorized by the bank's articles of association (thus repealing the current requirement of cumulative voting). (Sec. 302) Repeals the statutory formula for determining when lawful national bank dividend declarations may be made. Allows national bank directors to declare a dividend of so much of the bank's undivided profits as they judge to be expedient. (Sec. 303) Amends the Federal Deposit Insurance Act (FDIA) to repeal the prerequisite to a removal or su… | 2023-03-24T16:27:30Z | |
| 109-hr-5405 | 109 | hr | 5405 | Competitive and Open Markets that Protect and Enhance the Treatment of Entrepreneurs Act | Finance and Financial Sector | 2006-05-17 | 2006-05-17 | Referred to the House Committee on Financial Services. | House | Rep. Feeney, Tom [R-FL-24] | FL | R | F000447 | 25 | Competitive and Open Markets that Protect and Enhance the Treatment of Entrepreneurs Act, or the COMPETE Act - Amends the Sarbanes-Oxley Act of 2002 regarding the management assessment of internal controls in the annual report of each issuer of registered securities to require certain rules of the Securities and Exchange Commission (SEC) to permit a small public company to elect voluntarily not to provide in its annual report an assessment of (or a related public accounting firm attestation concerning) the effectiveness of its internal control structure and financial reporting procedures, if it meets specified size criteria. Includes among such criteria: (1) total market capitalization of less than $700 million; (2) total product revenue of less than $125 million; and (3) fewer than 1500 record beneficial holders. Requires SEC rules to provide for random audits after the first year for which an attestation and report of such a small public company is made by a registered public accounting firm. Directs the SEC and the Public Company Accounting Oversight Board (Board) to: (1) alter the standard for review from a remote likelihood standard for noting weaknesses to a 5% de minimus material weakness criterion (based on 5% of net profits); (2) establish specific guidelines for measuring certain terms; and (3) modify independence rules to allow prudent interaction between registered public accounting firms performing such assessments and internal consultants. Directs the SEC and the Board to: (1) jointly study and report to Congress on the principles-based Turnbull Guidance under the securities laws of the United Kingdom; and (2) compare and contrast such principles to the implementation of Sarbanes-Oxley requirements. | 2023-01-13T04:48:27Z | |
| 109-s-2824 | 109 | s | 2824 | Competitive and Open Markets that Protect and Enhance the Treatment of Entrepreneurs Act | Finance and Financial Sector | 2006-05-17 | 2006-05-17 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. DeMint, Jim [R-SC] | SC | R | D000595 | 10 | Competitive and Open Markets that Protect and Enhance the Treatment of Entrepreneurs Act, or the COMPETE Act - Amends the Sarbanes-Oxley Act of 2002 regarding the management assessment of internal controls in the annual report of each issuer of registered securities to require certain rules of the Securities and Exchange Commission (SEC) to permit a small public company to elect voluntarily not to provide in its annual report an assessment of (or a related public accounting firm attestation concerning) the effectiveness of its internal control structure and financial reporting procedures, if it meets specified size criteria. Includes among such criteria: (1) total market capitalization of less than $700 million; (2) total product revenue of less than $125 million; and (3) fewer than 1500 record beneficial holders. Directs the SEC and the Public Company Accounting Oversight Board (Board) to: (1) alter the standard for review from a remote likelihood standard for noting weaknesses to a 5% de minimus material weakness criterion (based on 5% of net profits); (2) establish specific guidelines for measuring certain terms; and (3) modify independence rules to allow prudent interaction between registered public accounting firms performing such assessments and internal consultants. Directs the SEC and the Board to: (1) jointly study and report to Congress on the principles-based Turnbull Guidance under the securities laws of the United Kingdom; and (2) compare and contrast such principles to the implementation of Sarbanes-Oxley requirements. | 2023-01-13T04:48:18Z | |
| 109-hr-5383 | 109 | hr | 5383 | Credit Card Accountability Responsibility and Disclosure Act of 2006 | Finance and Financial Sector | 2006-05-11 | 2006-07-28 | Sponsor introductory remarks on measure. (CR H6023, E1585) | House | Rep. Udall, Mark [D-CO-2] | CO | D | U000038 | 8 | Credit Card Accountability Responsibility and Disclosure Act of 2006, or the Credit CARD Act of 2006 - Amends the Truth in Lending Act to require advance notice of any increase in the annual percentage rate (APR) of interest pertaining a credit card account under an open end consumer credit plan. Imposes a freeze on interest rate terms and fees on canceled cards. Prohibits: (1) penalties for on-time payments; and (2) over-the-limit fees for creditor-approved transactions. Requires disclosure of: (1) the repayment information applicable to the outstanding balance; and (2) late payment deadlines, postmark dates, and any increase in interest rates for late payments. Increases the civil penalty against any creditor who fails to comply with specified requirements in the case of an individual action relating to an open end credit plan that is not secured by real property or a dwelling. Prohibits issuance of: (1) a credit card under an open end credit plan on behalf of a consumer who has not attained the age of 21, unless the consumer has submitted a written application meeting specified requirements; or (2) certain affinity cards to students unless certain requirements have been met. | 2023-01-13T04:48:28Z | |
| 109-hr-5341 | 109 | hr | 5341 | Seasoned Customer CTR Exemption Act of 2006 | Finance and Financial Sector | 2006-05-10 | 2006-06-28 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Bachus, Spencer [R-AL-6] | AL | R | B000013 | 22 | (This measure has not been amended since it was reported to the House on June 19, 2006. The summary of that version is repeated here.) Seasoned Customer CTR Exemption Act of 2006 - Amends federal money and finance law to: (1) repeal the current authority of the Secretary of the Treasury to exempt a depository institution from currency transaction reporting (CTR) requirements with respect to transactions between the depository institution and a qualified business customer; and (2) instruct the Secretary to prescribe regulations that exempt a depository institution from filing a CTR if the transaction is with a qualified customer. Defines qualified customer as any person that: (1) is incorporated or organized under federal or state law, including a sole proprietorship, or is registered as and eligible to do business within the United States or a state; (2) has maintained a deposit account with the depository institution for at least 12 months; and (3) has engaged, using such account, in multiple currency transactions subject to federal CTR requirements. Requires such regulations to require a depository institution to file a one-time notice of designation of exemption for each of its qualified customers. Authorizes the Secretary to: (1) suspend, reject, or revoke any qualified customer exemption notice; and (2) establish conditions under which exempt qualified customers of an insured depository institution merged with or acquired by another insured depository institution will continue to be treated as designated exempt qualified customers of the surviving or acquiring institution. Requires the Secretary to submit a three-year review and report evaluating implementation of this Act. Requires the Secretary to review every five years: (1) the continuing appropriateness, relevance, and utility of each threshold amount or denomination established for any mandatory CTR; (2) adjust such amount for inflation, if any; and (3) report to Congress the review findings and conclusions, together with an explanation for any adjustm… | 2023-01-13T04:48:29Z | |
| 109-hr-5350 | 109 | hr | 5350 | Federal Payday Loan Consumer Protection Amendments of 2006 | Finance and Financial Sector | 2006-05-10 | 2006-05-22 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Udall, Tom [D-NM-3] | NM | D | U000039 | 0 | Federal Payday Loan Consumer Protection Amendments of 2006 - Amends the Federal Deposit Insurance Act to prohibit an insured depository institution from: (1) making any payday loan, either directly or indirectly; or (2) making any loan to any other lender for purposes of financing, refinancing, or extending any payday loan. Amends the Truth in Lending Act to prohibit payday loans based on checks drawn on, or authorized withdrawals from, insured depository institutions. | 2023-01-13T04:48:29Z | |
| 109-hconres-390 | 109 | hconres | 390 | Expressing the sense of the Congress that, as a matter of economic and national security, the United States Government should protect and support United States currency. | Finance and Financial Sector | 2006-04-26 | 2006-05-23 | Sponsor introductory remarks on measure. (CR E932) | House | Rep. Manzullo, Donald A. [R-IL-16] | IL | R | M001138 | 58 | Expresses the sense of Congress that, as a matter of economic and national security, the U.S. Government should provide America's currency with the protection and support necessary to defend its integrity throughout the world, effectively deter counterfeiting, and preserve the status of the dollar as the world's reserve currency. | 2023-01-13T04:48:47Z | |
| 109-s-2654 | 109 | s | 2654 | Protection of Young Consumers Act of 2006 | Finance and Financial Sector | 2006-04-26 | 2006-04-26 | Read twice and referred to the Committee on Health, Education, Labor, and Pensions. | Senate | Sen. Menendez, Robert [D-NJ] | NJ | D | M000639 | 0 | Protection of Young Consumers Act of 2006 - Amends the Fair Credit Reporting Act to prohibit consumer reporting agencies from furnishing reports in connection with firm offers of credit or insurance that are not initiated by consumers under age 21. Allows consumers who are at least 18, but not yet 21, to elect, in writing, to have their names and addresses included in any list of names provided by such agencies in connection with such transactions. Youth Financial Education Act - Amends the Elementary and Secondary Education Act of 1965 to establish a new title IV part D Promoting Youth Financial Literacy. Authorizes the Secretary of Education to award grants to state educational agencies to implement financial education programs for elementary and secondary school students. Makes a state's allocation proportionate to its share of such students. Directs the Secretary to: (1) make a competitive five year grant to, or contract with, a national nonprofit organization to establish a national clearinghouse for instructional materials and information on model financial education programs and best practices; and (2) develop and use performance measures to evaluate the financial education programs and clearinghouse established pursuant to this Act. | 2023-01-13T04:48:35Z | |
| 109-s-2655 | 109 | s | 2655 | Credit Card Reform Act of 2006 | Finance and Financial Sector | 2006-04-26 | 2006-04-26 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Menendez, Robert [D-NJ] | NJ | D | M000639 | 0 | Credit Card Reform Act of 2006 - Amends the Truth in Lending Act to prohibit a credit card issuer from using any adverse information concerning any consumer (including information contained in any consumer report, or any change in the consumer's credit score) as the basis for increasing any annual percentage rate of interest (APR) applicable to a credit card account under an open end consumer credit plan, or from removing or increasing any introductory APR. Prohibits a credit card issuer, also, from changing the terms of a credit card contract or agreement under an open end consumer credit plan without written consumer consent. Prohibits a credit card issuer from imposing adverse consequences for late payment if the cardholder's payment is postmarked or initiated by electronic funds transfer on or before the required postmark date in accordance with this Act. Limits late payment and related fees to an amount reasonably related to the cost to the card issuer of consumer default, omission, or violation of the credit plan agreement. Requires a credit card issuer to verify, when the account is opened or the credit limit increased, that the consumer will be able to make the scheduled payments based on a consideration of current and expected income, current obligations, and employment status. | 2023-01-13T04:48:35Z | |
| 109-hr-5113 | 109 | hr | 5113 | Fairness and Accountability in Reorganizations Act of 2006 | Finance and Financial Sector | 2006-04-06 | 2006-04-06 | Referred to the House Committee on the Judiciary. | House | Rep. Conyers, John, Jr. [D-MI-14] | MI | D | C000714 | 43 | Fairness and Accountability in Reorganizations Act of 2006 - Revises federal bankruptcy law to add to the conditions for court confirmation of a corporate reorganization plan that the compensation of an insider who will be employed or retained by the reorganized debtor has been approved by, or is subject to the approval of, the court, as reasonable. Prohibits the payment of a compensation enhancement in order to induce an insider of the debtor to remain with the debtor's business, unless the court finds that any transfers or obligations to or for the insider's benefit are essential to the survival of the business, or to the orderly liquidation and maximization of the value of the debtor's assets. Revises requirements for collective bargaining agreements and retiree health benefits to instruct the court to take into account the ongoing impact on the debtor of the debtor's relationship with all subsidiaries and affiliates, regardless of whether domestic or foreign, or whether any such subsidiary or affiliate is a debtor entity. | 2023-01-13T04:48:45Z | |
| 109-s-2556 | 109 | s | 2556 | Fairness and Accountability in Reorganizations Act of 2006 | Finance and Financial Sector | 2006-04-06 | 2006-04-06 | Read twice and referred to the Committee on the Judiciary. | Senate | Sen. Bayh, Evan [D-IN] | IN | D | B001233 | 10 | Fairness and Accountability in Reorganizations Act of 2006 - Revises federal bankruptcy law to add to the conditions for court confirmation of a corporate reorganization plan that the compensation of an insider who will be employed or retained by the reorganized debtor has been approved by, or is subject to the approval of, the court, as reasonable. Prohibits the payment of a compensation enhancement in order to induce an insider of the debtor to remain with the debtor's business, unless the court finds that any transfers or obligations to or for the insider's benefit are essential to the survival of the business, or to the orderly liquidation and maximization of the value of the debtor's assets. Revises requirements for collective bargaining agreements and retiree health benefits to instruct the court to take into account the ongoing impact on the debtor of the debtor's relationship with all subsidiaries and affiliates, regardless of whether domestic or foreign, or whether any such subsidiary or affiliate is a debtor entity. | 2023-01-13T04:48:38Z | |
| 109-s-2509 | 109 | s | 2509 | National Insurance Act of 2006 | Finance and Financial Sector | 2006-04-05 | 2006-04-05 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Sununu, John E. [R-NH] | NH | R | S001078 | 1 | National Insurance Act of 2006 - Establishes in the Department of the Treasury an Office of National Insurance (ONI), headed by a Commissioner of National Insurance, with Divisions of Insurance Fraud and of Consumer Affairs, and an Office of the Ombudsman. Authorizes the Commissioner to supervise, regulate, and provide for registration of insurance self-regulatory organizations. Requires the Commissioner to supervise National Insurers and National Agencies, including chartering and licensing. Removes them, as well as federally licensed insurance producers from state oversight of insurance business practices. Authorizes the Commissioner to provide for the organization, operation, and regulation of National Insurance Companies and National Insurance Agencies, including U.S. branches of non-U.S. Insurers. Requires National Insurers to obtain a federal license. Provides for conversion of State Insurers to National Insurers or State Insurance Agencies to National Agencies, and vice versa. Prescribes requirements for National Life Insurer product regulation. Authorizes the Commissioner to: (1) license insurers that are not National Insurers to provide reinsurance; and (2) issue federal insurance producer licenses. Provides for: (1) mergers, consolidations, and acquisitions of National Insurers and National Agencies; and (2) conversion of stock life insurers to National Life Insurer in mutual form, and vice versa. Subjects National Insurers and National Agencies to state taxation. Prohibits states from preventing or restricting National Insurers from engaging in specified insurance business practices. Requires registration with the Commissioner of National Insurers that belong to an insurance holding company system. Authorizes the Commissioner to appoint the ONI as receiver for a National Insurer for rehabilitation or liquidation, as appropriate, in a case of insolvency or one of other specified hazardous financial conditions. Requires National Insurers to join guaranty associations in each state, which may levy assessm… | 2023-01-13T04:48:39Z | |
| 109-hr-5077 | 109 | hr | 5077 | Numismatic Rarities Certainty Act of 2006 | Finance and Financial Sector | 2006-04-04 | 2006-04-04 | Referred to the House Committee on Financial Services. | House | Rep. Lucas, Frank D. [R-OK-3] | OK | R | L000491 | 1 | Numismatic Rarities Certainty Act of 2006 - Amends federal law governing coins and currency to provide that any coin, medal, or numismatic item made or issued by the United States before January 1, 1933, that is not in the possession of the federal government as of the date of the enactment of this Act, shall not be considered to be property of the United States unless it is reacquired by the United States for value given in a sale or exchange. Requires transfer to the Secretary of the Treasury of any coins, medals, and numismatic items that were struck or made by the U.S. government after 1932, which were never issued by the U.S. government, and yet come into its possession. Prescribes guidelines for disposition of such items, including historic preservation, public display, and sales at public auction. Requires the Secretary to compile an inventory of all coins, medals, or numismatic items that are either: (1) in the possession of the U.S. government; or (2) on loan to, or were at any time presented to or retained by, any person or entity (other than in accordance with a specific requirement of federal law), regardless of when such item was struck or made. | 2023-01-13T04:48:46Z | |
| 109-hr-5045 | 109 | hr | 5045 | Home for the Brave Act | Finance and Financial Sector | 2006-03-29 | 2006-04-21 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Lynch, Stephen F. [D-MA-9] | MA | D | L000562 | 0 | A Home for the Brave Act - Amends the Community Reinvestment Act of 1977 to require that, when a federal financial supervisory agency assesses the record of a financial institution, the agency consider capital investments, low interest loans, loan participation, technical assistance, and grants made by the institution to support or enable: (1) a veteran to purchase a home for use as principal residence; and (2) any entity establishing housing opportunities or assisted living facilities for veterans to carry out such activities. | 2023-01-13T04:48:55Z | |
| 109-hr-5024 | 109 | hr | 5024 | Promoting Transparency in Financial Reporting Act of 2006 | Finance and Financial Sector | 2006-03-28 | 2006-07-26 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Davis, Geoff [R-KY-4] | KY | R | D000603 | 8 | (This measure has not been amended since it was reported to the House on July 17, 2006. The summary of that version is repeated here.) Promoting Transparency in Financial Reporting Act of 2006 - Requires the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board to provide oral testimony by their respective Chairpersons (or a designee), beginning in 2007, and annually for five years, to the Committee on Financial Services of the House of Representatives on their efforts to reduce the complexity in financial reporting to provide more accurate and clear financial information to investors. | 2023-01-13T04:48:55Z | |
| 109-hr-4912 | 109 | hr | 4912 | Rural Health Care Capital Access Act of 2006 | Finance and Financial Sector | 2006-03-09 | 2006-07-10 | Became Public Law No: 109-240. | House | Rep. Ney, Robert W. [R-OH-18] | OH | R | N000081 | 6 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Rural Health Care Capital Access Act of 2006 - Amends the National Housing Act to extend from July 31, 2006, to July 31, 2011, the exemption respecting required patient days used for specified care categories for critical access hospitals under the Federal Housing Administration (FHA) hospital mortgage insurance program. | 2023-01-31T21:14:03Z | |
| 109-hr-4866 | 109 | hr | 4866 | Promote Responsibility by Improving Development Education Act of 2006 | Finance and Financial Sector | 2006-03-02 | 2006-05-01 | Referred to the Subcommittee on Education Reform. | House | Rep. Ford, Harold E., Jr. [D-TN-9] | TN | D | F000262 | 0 | Promote Responsibility by Improving Development Education Act of 2006 - Character Education Act of 2006 - Amends the Elementary and Secondary Education Act of 1965 to increase the amount authorized to be appropriated in FY2007 for the Fund for the Improvement of Education. Reserves a specified amount of such Fund's appropriations in FY2007 and FY2008 for the Partnerships in Character Education program. Directs the Comptroller General to develop a model state character education curriculum. Childhood Adoption Act of 2006 - Amends the Internal Revenue Code to increase the tax credit for adoption expenses and make it refundable. Increases the tax exclusion for employer-paid adoption expenses. Amends title IV, part E (Federal Payments for Foster Care and Adoption Assistance) of the Social Security Act to increase the levels of adoption incentive payments to states and the FY2006-FY2008 authorization of appropriations for such payments. Borrower's Bill of Rights Act - Creates the position of Assistant Secretary for Financial Education in the Department of the Treasury. Amends the Financial Literacy and Education Improvement Act to direct such Secretary to establish a financial literacy pilot program for middle and high school students. Amends the Truth in Lending Act to: (1) require that mandatory disclosures governing loan transactions be easy for consumers to comprehend; (2) prohibit loan flipping and mandatory arbitration; (3) lower the interest rate threshold for high-cost mortgages; (4) require creditors to ensure that consumers receive counseling before extending credit to them under high-cost mortgages; and (5) limit the rollover or refinancing of payday loans with the same creditor. Amends the Depository Institutions Deregulation and Monetary Control Act of 1980 to repeal the preemption of state mortgage usury laws. Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to provide that a state's laws or constitution which expressly limit loan interest, rates, or other charges apply to all de… | 2023-01-13T04:49:00Z | |
| 109-s-2169 | 109 | s | 2169 | Financial Data Protection Act of 2005 | Finance and Financial Sector | 2005-12-21 | 2005-12-21 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Carper, Thomas R. [D-DE] | DE | D | C000174 | 1 | Financial Data Protection Act of 2005 - Amends the Fair Credit Reporting Act to prescribe safeguards for data security. Declares that each consumer reporter shall have an affirmative obligation to implement policies and procedures to protect the security and confidentiality of any consumer's sensitive financial personal information maintained, serviced, or communicated by or on the reporter's behalf against any unauthorized use reasonably likely to result in substantial harm or inconvenience to the consumer. Defines "consumer reporter" as any consumer reporting agency, financial institution, or person: (1) which, for monetary fees, dues, on a cooperative nonprofit basis, or otherwise regularly engages in the practice of assembling or evaluating consumer information for the purpose of furnishing consumer reports to third parties, of providing or collecting payment for or marketing products and services, or for employment purposes; and (2) which uses any means or facility of interstate commerce for such purposes. Prescribes implementation guidelines that include: (1) investigation requirements; (2) investigation notices and system restoration requirements; (3) third party duties; (4) consumer notice; (5) financial fraud mitigation; and (6) free file monitoring. Directs the Secretary of the Treasury, the Board of Governors of the Federal Reserve System, and the Federal Trade Commission jointly to develop implementing standards and guidelines. | 2023-01-13T04:49:17Z | |
| 109-sres-347 | 109 | sres | 347 | A resolution expressing the sense of the Senate that lenders holding mortgages on homes in communities of the Gulf Coast devastated by Hurricanes Katrina and Rita should extend current voluntary mortgage payment forbearance periods and not foreclose on properties in those communities. | Finance and Financial Sector | 2005-12-21 | 2005-12-22 | Resolution agreed to in Senate without amendment and with a preamble by Unanimous Consent. (consideration: CR S14408; text as passed Senate: CR S14408; text of measure as introduced: CR S14337) | Senate | Sen. Landrieu, Mary L. [D-LA] | LA | D | L000550 | 1 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Expresses the sense of the Senate that: (1) Congress should act early in the second session of the 109th Congress to consider legislation to provide relief to homeowners in the Gulf Coast; and (2) commercial banks, mortgage banks, credit unions, and other mortgage lenders should extend mortgage payment forbearance to March 31, 2006, in order to allow Congress the time to consider such legislation. | 2018-02-03T18:25:45Z | |
| 109-sres-340 | 109 | sres | 340 | A resolution expressing the sense of the Senate that lenders holding mortgages on homes in communities of Louisiana devastated by Hurricanes Katrina and Rita should extend current mortgage payment forbearance periods and not foreclose on properties in those communities until such time that Congress can consider legislation to provide relief to those homeowners. | Finance and Financial Sector | 2005-12-20 | 2005-12-20 | Referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S14187) | Senate | Sen. Landrieu, Mary L. [D-LA] | LA | D | L000550 | 1 | Expresses the sense of the Senate that: (1) Congress should consider legislation to provide relief to Louisiana homeowners whose properties were devastated by Hurricanes Katrina and Rita; and (2) commercial banks, mortgage banks, credit unions, and other mortgage lenders should extend mortgage payment forbearance to March 31, 2006, in order to allow Congress the time to consider such legislation. | 2023-01-13T04:49:16Z | |
| 109-hr-4636 | 109 | hr | 4636 | Federal Deposit Insurance Reform Conforming Amendments Act of 2005 | Finance and Financial Sector | 2005-12-18 | 2006-02-15 | Became Public Law No: 109-173. | House | Rep. Oxley, Michael G. [R-OH-4] | OH | R | O000163 | 0 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Federal Deposit Insurance Reform Conforming Amendments Act of 2005 - (Sec. 2) Amends the Federal Deposit Insurance Act (FDIA) to state that: (1) a government depositor is separate and distinct from any other U.S. officer, employee, or agent; and (2) the deposits of a government depositor shall be insured in an amount equal to a specified standard maximum deposit insurance. Revises guidelines for insurance of trust funds to state that such funds and certain bank deposit financial assistance program funds shall be insured to the standard maximum deposit insurance amount. (The current the insurance maximum is $100,000). Establishes a fine for violations of signage requirements pertaining to the insurance logo for insured depository institutions and insured credit unions. Amends the International Banking Act of 1978 to replace the minimum deposit of $100,000 with a standard maximum deposit insurance amount. Makes conforming changes to the Federal Credit Union Act. Provides coverage for certain employee benefit plan deposits. Directs the National Credit Union Administration Board to provide pass-through share insurance for the deposits or shares of any employee benefit plan. (Sec. 3) Makes conforming amendments relating to assessments and repeal of special rules relating to minimum assessments and free deposit insurance. Amends the Federal Deposit Insurance Corporation Improvement Act of 1991 to remove the Board of Governors of the Federal Reserve System from the requirement to consider certain factors in determining the minimum requirements for lifeline accounts at insured depository institutions. (Thus leaves the Federal Deposit Insurance Corporation (FDIC) with the sole responsibility to consider such factors in determining such minimum requirements.) (Sec. 4) Defines the "designated reserve ratio" as the reserve ratio designated by the FDIC Board of Directors. (Sec. 5) Requ… | 2023-01-13T04:49:22Z | |
| 109-hr-4618 | 109 | hr | 4618 | Compliance, Examinations, and Inspections Restructuring Act of 2005 | Finance and Financial Sector | 2005-12-17 | 2006-01-10 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Fossella, Vito [R-NY-13] | NY | R | F000440 | 3 | Compliance, Examinations, and Inspections Restructuring Act of 2005 - Amends the Securities Exchange Act of 1934 to vest the inspections and examinations authority of the Securities and Exchange Commission (SEC) in those administrative divisions or offices to which the SEC has delegated its administrative responsibilities. Requires the subject of an SEC inquiry or inspection to be notified in writing at least every 120 days regarding the status of an ongoing proceeding. Requires an SEC administrative division or office to obtain permission to conduct a sweep examination in the same manner and subject to the same procedures as SEC enforcement divisions or offices must follow in conducting a formal investigation or inquiry of registered entities. Instructs the Chairman of the SEC to appoint an Ombudsman with respect to any problems resulting from SEC regulatory activities. Expresses the sense of Congress that the SEC should develop and publish guidelines setting forth explicitly the benefit to either an issuer of securities or a registered entity if it self-reports an apparent violation of law, and subsequently becomes the respondent in an SEC civil injunctive action or administrative proceeding regarding the matter that was self-reported. | 2023-01-13T04:49:23Z | |
| 109-hr-4619 | 109 | hr | 4619 | Commission on Terrorism Risk Insurance Act of 2005 | Finance and Financial Sector | 2005-12-17 | 2006-01-10 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Fossella, Vito [R-NY-13] | NY | R | F000440 | 19 | Commission on Terrorism Risk Insurance Act - Amends the Terrorism Risk Insurance Act of 2002 to establish the Commission on Terrorism Risk Insurance. Directs the Commission to identify and make recommendations regarding actions to: (1) encourage, facilitate, and sustain provision by the private domestic insurance industry of affordable coverage for losses due to acts of terrorism; (2) sustain or supplement the ability of the domestic insurance industry to cover losses resulting from acts of terrorism; (3) reduce the federal role over time in any continuing federal terrorism risk insurance program; and (4) evaluate whether coverage under the Terrorism Insurance Program is necessary to permit redevelopment at sites of previous acts of terrorism. Instructs the Commission to evaluate and makes recommendations on the need for a federal terrorism risk insurance program. Requires the Terrorism Insurance Program to remain in effect, but only to cover insured losses under property and casualty insurance issued on or before December 31, 2008, if the Commission determines that the market will not provide for renewal or generation of new insurance contracts necessary to permit redevelopment at the site of a previous act of terrorism. | 2023-01-13T04:49:23Z | |
| 109-s-2141 | 109 | s | 2141 | A bill to make improvements to the Federal Insurance Deposit Act. | Finance and Financial Sector | 2005-12-17 | 2006-02-28 | Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. | Senate | Sen. Bennett, Robert F. [R-UT] | UT | R | B000382 | 1 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Amends the Federal Deposit Insurance Act (FDIA) and the Federal Credit Union Act governing the treatment of certain agreements by conservators or receivers of depository institutions. Redefines a "securities contract," entered into before appointment of conservator or receiver, which the conservator or receiver may disaffirm or repudiate. Includes in such definition: (1) a repurchase or reverse repurchase transaction on any security, certificate of deposit, mortgage loan, interest, group or index, or option, regardless of whether the transaction is a repurchase agreement; (2) a guarantee, by novation, by or to a securities clearing agency regarding settlements of cash, securities, and interests; (3) a extension of credit for the clearance or settlement of securities transactions; and (4) a loan transaction coupled with a securities collar transaction, any prepaid securities forward transaction, or any total return swap transaction coupled with a securities sale transaction. Redefines "forward contract" to include a reverse repurchase transaction, regardless of whether the transaction is a repurchase agreement. Redefines "swap agreement" to: (1) include other (besides precious) commodity metals agreements; (2) eliminate weather derivatives; and (3) include weather future or forward agreements, and emissions and inflation swap, option, future, and forward agreements. Redefines "person" to include any governmental entity, corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals. Amends the Federal Deposit Insurance Corporation Improvement Act of 1991 regarding bilateral netting and clearing organization netting to declare that covered contractual payment obligations and payment entitlements between any two financial institutions or clearing organization members shall be terminated, accelerated and liquidated… | 2023-01-13T04:49:17Z | |
| 109-hr-4590 | 109 | hr | 4590 | Employee Retirement Preservation Act | Finance and Financial Sector | 2005-12-16 | 2006-02-16 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Ford, Harold E., Jr. [D-TN-9] | TN | D | F000262 | 0 | Employee Retirement Preservation Act - Amends federal bankruptcy law to redefine "claim" to include a right or interest in equity securities of the debtor (or its affiliate) held in a pension plan for the benefit of an individual who is not an officer or director of the debtor, if such securities were attributable to: (1) employer contributions by the debtor (or an affiliate) other than elective deferrals; and (2) elective deferrals (and any earnings on them) that are required to be invested in such securities under the terms of the plan or at the direction of a person other than the individual or any beneficiary. Makes this requirement inapplicable, however, to any such securities during a period when the individual or any beneficiary has the right to direct the plan to divest such securities and to reinvest an equivalent amount in other investment options of the plan. Modifies the priority scheme for expenses and claims to place in fifth order of priority allowed unsecured claims concerning rights or interests in equity securities of the debtor held in a pension plan measured by the market value of the stock at the time of its contribution or purchased by the plan. Increases from $10,000 to $13,500 the maximum amount of allowed unsecured claims for contributions to an employee benefit plan. | 2023-01-13T04:49:24Z | |
| 109-hr-4507 | 109 | hr | 4507 | Natural Catastrophe Insurance Act of 2005 | Finance and Financial Sector | 2005-12-13 | 2005-12-13 | Referred to the House Committee on Financial Services. | House | Rep. Maloney, Carolyn B. [D-NY-14] | NY | D | M000087 | 3 | Natural Catastrophe Insurance Act of 2005 - Directs the Secretary of the Treasury to carry out a program to make reinsurance coverage available for purchase only by eligible State programs. Requires a reinsurance contract to cover residential and business property losses insured or reinsured by the eligible State program and proximately caused by windstorm, earthquake, winter catastrophe, fire, tsunami, flood, volcanic eruption, or hail. Establishes within the Treasury the Disaster Reinsurance Fund to pay for the administrative expenses of the reinsurance program. Requires the Secretary to study and report to Congress annually on the cost and availability of insurance for losses resulting from catastrophic disasters covered by the reinsurance program under this Act. Requires the Comptroller General to study and report to Congress on: (1) the need for a federal program to provide reinsurance for insured losses resulting from any catastrophe event that may threaten the solvency of any segment of the catastrophe insurance industry; and (2) the appropriateness of such a program to stabilize financial and insurance markets, and ensure the availability and affordability of insurance in the United States for losses from such events. | 2023-01-13T04:49:26Z | |
| 109-hr-4513 | 109 | hr | 4513 | Terrorism Risk Insurance Program Temporary Extension Act of 2005 | Finance and Financial Sector | 2005-12-13 | 2006-01-10 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Frank, Barney [D-MA-4] | MA | D | F000339 | 0 | Terrorism Risk Insurance Program Temporary Extension Act of 2005 - Amends the Terrorism Risk Insurance Act of 2002 to extend its sunset date from December 31, 2005, to March 31, 2006. Extends to Program Year 3 (January 1, 2005-December 31, 2005) the period during which insurers are required to make property and casualty insurance coverage available for insured losses. Repeals the requirement, however, that such coverage may not differ materially from the terms, amounts, and other coverage limitations applicable to losses arising from events other than acts of terrorism. | 2023-01-13T04:49:26Z | |
| 109-hr-4473 | 109 | hr | 4473 | CFTC Reauthorization Act of 2005 | Finance and Financial Sector | 2005-12-08 | 2006-01-27 | Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 358. | House | Rep. Goodlatte, Bob [R-VA-6] | VA | R | G000289 | 0 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) CFTC Reauthorization Act of 2005 - Title I: General Provisions - (Sec. 101) Amends the Commodity Exchange Act (CEA) to revise Commodities Futures Trading Commission (CFTC) jurisdiction over an agreement, contract, or retail transaction in foreign currency. Specifies that CFTC jurisdiction extends to any agreement, contract, or transaction in foreign currency that is a commodity contract of sale for future delivery or an option on such a contract, and is offered to, or entered into with a person that is not an eligible contract participant, unless the counterparty, or the person offering to be the counterparty, of the person is: (1) a financial institution; (2) a specified broker, dealer, or associated person registered under the Securities Exchange Act of 1934; (3) a specified futures commission merchant registered under CEA; (4) a specified insurance company or affiliate; (5) a financial holding company; or (6) an investment bank holding company. Extends registration requirements to particular persons participating in the solicitation or recommendation of any such agreement, contract, or transaction. (Sec. 102) Authorizes CFTC to bring anti-fraud actions in off-exchange principal-to-principal futures transactions. Provides that a person shall not be obligated, in connection with a covered futures transaction with another person, to disclose to such other person nonpublic information that may be material to the market price, rate, or level of such commodity or transaction except as necessary to make any statement not materially misleading. (Sec. 103) Directs the agencies represented on the President's Working Group on Financial Markets to work to ensure that the Securities and Exchange Commission (SEC) and the CFTC have taken action to permit: (1) risk-based portfolio margining for security options and security futures products by September 30, 2006; and (2) by June 30, 2006, the tra… | 2023-01-13T04:49:27Z | |
| 109-hr-4411 | 109 | hr | 4411 | Internet Gambling Prohibition and Enforcement Act | Finance and Financial Sector | 2005-11-18 | 2006-07-13 | Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 519. | House | Rep. Leach, James A. [R-IA-2] | IA | R | L000169 | 35 | Internet Gambling Prohibition and Enforcement Act - Title I: Modernization of the Wire Act of 1961 - (Sec. 101) Amends the federal criminal code to expand the definition of "wire communication facility" (renamed "communication facility") to include fixed or mobile (i.e., wireless) communication facilities. Defines "bets and wagers" to include bets for contests, sporting events, games predominantly subject to chance, and lotteries. Excludes from such definition: (1) activities governed by securities laws: (2) transactions under the Commodity Exchange Act; (3) over-the-counter derivative instruments; (4) contracts of indemnity or guarantee; (4) contracts for life, health, or accident insurance; and (5) reward programs or contests conducted by businesses. (Sec. 102) Modifies existing prohibitions against interstate gambling to prohibit the use of a communication facility to transmit: (1) bets or wagers; (2) information assisting in the placing of bets or wagers; or (3) a communication which entitles the recipient to receive money or credit as a result of bets or wages or for information assisting in the placing of bets or wagers. Prohibits any individual from accepting, in connection with the placing of bets or wagers to or from the United States: (1) credit, or the proceeds of credit; (2) electronic funds transfers; (3) checks, drafts, or similar instruments; or (4) the proceeds of any other form of financial transaction as prescribed by Treasury regulations. Imposes a fine and/or prison term of up to five years for violations. Requires any common carrier which receives notice of a violation of this Act by one of its communication facilities to discontinue or refuse service to such facility. Grants such common carrier immunity from liability for discontinuing or refusing such service. (Sec. 103) Grants U.S. district courts original and exclusive jurisdiction to prevent and restrain violations of the Internet gambling ban. Authorizes the Attorney General or any state attorney general … | 2023-01-13T04:48:32Z | |
| 109-hr-4413 | 109 | hr | 4413 | Credit Card Minimum Payment Notification Act | Finance and Financial Sector | 2005-11-18 | 2006-01-05 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Meek, Kendrick B. [D-FL-17] | FL | D | M001148 | 4 | Credit Card Minimum Payment Notification Act - Amends the Truth in Lending Act regarding disclosures required with each billing cycle under an open end consumer credit plan to require a credit card issuer to include in specified type a written statement in the following form: "Minimum Payment Warning: Making only the minimum payment will increase the interest you pay and the time it takes to repay your balance." Prescribes additional three-line statements disclosing the length of time it will take to pay off balances and the final cost to the consumer of interest rates charged. Requires disclosure of a toll-free telephone number to obtain an estimate in person rather than a recording of the time to repay the balance making only minimum payments and the total amount of those payments. Directs the Federal Trade Commission to establish a detailed table illustrating the approximate number of months that it would take and the approximate total cost to repay an outstanding balance if the consumer pays only the required minimum monthly payments and if no other additional charges or fees are incurred on the account. Exempts from such disclosure requirements any billing cycle in which: (1) the account agreement requires a minimum payment of not less than 10% of the outstanding balance; and (2) finance charges are not imposed. | 2023-01-13T04:49:38Z | |
| 109-hr-4414 | 109 | hr | 4414 | Overdraft Fee Notification Act | Finance and Financial Sector | 2005-11-18 | 2006-01-05 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Meek, Kendrick B. [D-FL-17] | FL | D | M001148 | 4 | Overdraft Fee Notification Act - Amends the Electronic Fund Transfer Act to prohibit a financial institution from imposing a fee or charge for overdraft protection service unless it has disclosed such charge to the consumer before the completion of the transaction that would result in an overdraft. Sets forth disclosure requirements. Requires such an institution to disclose in periodic statements to the consumer the annual percentage rate which the overdraft fee represents. | 2023-01-13T04:49:38Z | |
| 109-hr-4415 | 109 | hr | 4415 | Consumer Checking Fairness Act | Finance and Financial Sector | 2005-11-18 | 2006-01-05 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Meek, Kendrick B. [D-FL-17] | FL | D | M001148 | 2 | Consumer Checking Fairness Act - Amends the Expedited Funds Availability Act to require a depository institution to post checks presented for payment against a checking account used primarily for personal, family, or household purposes after the close of any business day in the numerical order of the checks, beginning with the lowest number. Requires customer notification and consent for a different posting order. Requires a depository institution to credit all deposits to such account after the close of any business day before debiting any check drawn on the account and presented for payment. Directs the Board of Governors of the Federal Reserve System to prescribe implementing regulations. | 2023-01-13T04:49:38Z | |
| 109-s-2056 | 109 | s | 2056 | Liberty Bill Act | Finance and Financial Sector | 2005-11-18 | 2005-11-18 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Allen, George [R-VA] | VA | R | A000121 | 1 | Liberty Bill Act - Amends federal law to require that the design of the reverse side of all federal reserve notes incorporate: (1) the preamble to the Constitution; (2) a list describing the Articles of the Constitution; and (3) a list describing the Articles of Amendment. Prescribes design format. | 2023-01-13T04:49:33Z | |
| 109-hr-4366 | 109 | hr | 4366 | Homeowners Insurance Protection Act of 2005 | Finance and Financial Sector | 2005-11-17 | 2005-11-17 | Referred to the House Committee on Financial Services. | House | Rep. Brown-Waite, Ginny [R-FL-5] | FL | R | B001247 | 31 | Homeowners Insurance Protection Act of 2005 - Instructs the Secretary of the Treasury to establish the National Commission on Catastrophe Preparation and Protection to advise the Secretary regarding estimated loss costs associated with contracts for reinsurance coverage. Authorizes the Secretary to make homeowners protection coverage available through contracts for reinsurance coverage. Restricts purchase of such coverage to eligible state programs. Prescribes criteria for state eligibility. Requires each contract for reinsurance coverage to provide insurance coverage against residential property losses to homes, including condominium and cooperative ownership, and the contents of apartment buildings. Cites covered perils. Prescribes a minimum level of retained losses and maximum federal liability. Establishes the Consumer Hurricane, Earthquake, Loss Protection (HELP) Fund to: (1) make payments to covered purchasers under contracts for reinsurance coverage for eligible losses; and (2) pay for Commission operating costs and reinsurance program administrative expenses. Directs the Comptroller General to study the national flood insurance program and hurricane-related flooding. | 2023-01-13T04:49:39Z | |
| 109-hr-4314 | 109 | hr | 4314 | Terrorism Risk Insurance Revision Act of 2005 | Finance and Financial Sector | 2005-11-14 | 2005-12-06 | Placed on the Union Calendar, Calendar No. 180. | House | Rep. Baker, Richard H. [R-LA-6] | LA | R | B000072 | 9 | Terrorism Risk Insurance Revision Act of 2005 - (Sec. 2) Revises the Terrorism Risk Insurance Act of 2002 (TRIA) to establish Program Year 4 beginning on January 1, 2006, and ending on December 31, 2006. Provides for Additional Program Years following Program Year 4 (thereby extending the Terrorism Risk Insurance Program). Redefines an act of terrorism to repeal the $5 million minimum for an act to be certified by the Secretary of the Treasury. Redefines: (1) casualty insurance; and (2) exempt commercial purchaser. Sets forth a statutory formula for insurer deductibles for Program Year 4 and additional Program Years. Revises mandatory availability guidelines to include NBCR terrorism (terrorism involving nuclear, biological, chemical and, or, radioactive reactions, releases, or contaminations, to the extent any insured losses are caused by any of them). Instructs the Secretary to issue regulations applying TRIA title I to state workers' compensation reinsurance pools. Revamps guidelines governing the federal share of compensation covering insured losses of an insurer. Establishes a Program trigger for such federal share. Prescribes guidelines under which an insurer may establish a TRIA Capital Reserve Fund (CRF) in which it may hold funds in a fiduciary capacity on behalf of the Secretary. Directs the Secretary to collect and use CRF funds offset the federal share of compensation. States that TRIA title I does not prohibit insurers from developing risk-sharing mechanisms (including mutual reinsurance facilities and agreements) to voluntarily reinsure certain terrorism losses among themselves. Requires the Secretary to appoint an Advisory Committee to encourage the creation and development of such mechanisms. Provides for full recoupment of federal financial assistance provided in connection with all acts of terrorism. Requires the Comptroller General to study and report to Congress on: (1) the exposure of personal lines (including homeowners insurance) to terrorism risk, the coverage currently available, and p… | 2023-01-13T04:49:29Z | |
| 109-hr-4291 | 109 | hr | 4291 | Protection Against Executive Compensation Abuse Act | Finance and Financial Sector | 2005-11-10 | 2006-01-05 | Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises. | House | Rep. Frank, Barney [D-MA-4] | MA | D | F000339 | 33 | Protection Against Executive Compensation Abuse Act - Amends the Securities Exchange Act of 1934 to set forth additional compensation disclosure requirements, including: (1) a comprehensive statement of the issuer's compensation plan for its principal executive officers; (2) any type of compensation (whether present, deferred, or contingent) paid or to be paid to such principal executive officers; (3) an estimate of the present value of any accrued pension of such officers; (4) the estimated market value of any other benefits received by such officers; (5) any agreements or understandings concerning compensation; and (6) the short- and long-term performance measures that the issuer uses for determining the compensation of such principal executive officers, and whether such measures were met by such officers during the preceding year. Requires a separate shareholder vote to approve such compensation plan. Requires proxy solicitation material concerning an acquisition, merger, consolidation, or proposed sale or other disposition of substantially all the assets of an issuer to disclose any agreements or understandings with any of its principal executive officers regarding any compensation (whether present, deferred, or contingent) based on or otherwise relating to the acquisition, merger, consolidation, sale, or other disposition (golden parachute compensation). Requires mandatory electronic filings to appear in a clear, simple, and readily accessible format. | 2023-01-13T04:49:41Z | |
| 109-hr-4296 | 109 | hr | 4296 | Innocent Supplier Fairness Act | Finance and Financial Sector | 2005-11-10 | 2006-02-06 | Referred to the Subcommittee on Commercial and Administrative Law. | House | Rep. Sodrel, Michael E. [R-IN-9] | IN | R | S001160 | 20 | Innocent Supplier Fairness Act - Amends federal bankruptcy law to detail the elements of a special relationship that the trustee in bankruptcy must prove in order to rebut the presumption that the creditor or party in interest against whom recovery or avoidance is sought has carried the burden of proving the nonavoidability of a transfer. Specifies such elements as: (1) the insider character of the creditor or the party in interest; (2) common ownership of the debtor and such creditor or such party; (3) common management of the debtor and creditor or party consisting of overlapping senior management or directors; (4) explicit notice from the debtor to such creditor or party that a petition filling is contemplated or imminent before the date of the transfer; or (5) the use by such creditor or party of judicial process, during the 90 days before the petition filing, against the debtor to collect a debt with respect to which a transfer may have been made. Amends the federal judicial code to require the trustee in bankruptcy to commence a proceeding to avoid preferences only in the district court for the district in which the defendant resides. | 2023-01-13T04:49:41Z | |
| 109-hr-4161 | 109 | hr | 4161 | To reiterate the responsibilities of FEMA with regard to the creation of an appeals process and the establishment of minimum training and education requirements under the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004. | Finance and Financial Sector | 2005-10-27 | 2006-01-04 | Referred to the Subcommittee on Housing and Community Opportunity. | House | Rep. Davis, Jo Ann [R-VA-1] | VA | R | D000597 | 0 | Requires the Director of the Federal Emergency Management Agency (FEMA), as directed by the Bunning-Bereuter-Blumenauer Flood Insurance Reform Act of 2004 (BBBFIRA), within 90 days after enactment of this Act, to establish an appeals process through which holders of a flood insurance policy may appeal decisions with respect to claims, proofs of loss, and loss estimates relating to such policy. Requires the FEMA Director also, as directed by BBBFIRA, within 90 days after enactment of this Act, to establish minimum training and education requirements for all insurance agents who sell flood insurance policies. | 2023-01-13T04:49:52Z | |
| 109-hr-4146 | 109 | hr | 4146 | Hurricanes Rita and Wilma Financial Services Relief Act of 2005 | Finance and Financial Sector | 2005-10-26 | 2005-11-10 | Placed on the Union Calendar, Calendar No. 153. | House | Rep. Baker, Richard H. [R-LA-6] | LA | R | B000072 | 5 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Hurricanes Rita and Wilma Financial Services Relief Act of 2005 - Expresses the sense of Congress that it is vital that insured depository institutions and insured credit unions continue to provide financial services to consumers displaced or otherwise affected by Hurricane Rita or Wilma, which includes the cashing of federal government assistance and benefit checks. Urges the Secretary of the Treasury and federal financial regulators to seek to educate insured depository institutions and insured credit unions on the proper application of the published guidance on the cashing of such checks. Urges the federal financial regulators to continue to work with such institutions and credit unions operating under extraordinary circumstances to facilitate the cashing of such checks. Requires a federal reserve bank to waive or rebate any transaction fee for wire transfer services that otherwise would be imposed on any insured depository institution or insured credit union that, as of September 24, 2005, or October 22, 2005, was headquartered in a specified qualified disaster area. Authorizes a federal financial regulator to forbear from taking any required action, on a case-by-case basis, with respect to any undercapitalized insured depository institution or credit union that is not significantly or critically undercapitalized, if the entity meets specified prerequisites, and the reduction in its capital or net worth category is directly attributable to the impact of Hurricane Rita or Hurricane Wilma. Authorizes a federal financial regulator to permit an insured depository institution or credit union to subtract specified amounts from its total assets in calculating compliance with the applicable leverage limit if it meets specified prerequisites and has an acceptable plan for managing the increase in its total assets and deposits. Identifies such an insured depository institution or credit uni… | 2023-01-13T04:49:44Z | |
| 109-hr-4100 | 109 | hr | 4100 | Louisiana Recovery Corporation Act | Finance and Financial Sector | 2005-10-20 | 2005-12-15 | Ordered to be Reported (Amended) by Voice Vote. | House | Rep. Baker, Richard H. [R-LA-6] | LA | R | B000072 | 6 | Louisiana Recovery Corporation Act - Establishes the Louisiana Recovery Corporation as an independent establishment in the executive branch whose primary mission shall be the economic stabilization and redevelopment of areas within Louisiana that were devastated or significantly distressed by Hurricane Katrina or Hurricane Rita. Directs the Corporation to establish the following divisions: (1) Environment and Land Use Management; (2) Economic Development; (3) Property Acquisition; (4) Property Management; (5) Property Disposition; and (6) Urban Homesteading and Community and Faith-Based Organizations. Sets forth Corporation authority with respect to: (1) property acquisition and mortgage debt assumption; (2) property resale, disposition, or improvement; and (3) limited eminent domain power. Terminates the Corporation ten years after enactment of this Act. | 2023-01-13T04:49:53Z | |
| 109-s-1878 | 109 | s | 1878 | Predatory Payday Loan Prohibition Act of 2005 | Finance and Financial Sector | 2005-10-17 | 2005-10-17 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S11438-11439) | Senate | Sen. Akaka, Daniel K. [D-HI] | HI | D | A000069 | 1 | Predatory Payday Loan Prohibition Act of 2005 - Amends the Truth in Lending Act to prohibit a creditor from making a payday loan to any person if the creditor knows, or has reasonable cause to believe, that: (1) the personal check or share draft received in exchange for the loan is drawn on an insured depository institution or an insured credit union; or (2) the account that will be debited in exchange for the loan is a transaction or share draft account at an insured depository institution or an insured credit union. Defines payday loan as any transaction in which a short-term cash advance is made to a consumer in exchange for: (1) the consumer's personal check or share draft in the amount of the advance plus a fee, where presentment or negotiation of the check or draft is deferred by agreement of the parties until a designated future date; or (2) the consumer's authorization to debit his or her transaction or share draft account in the amount of the advance plus a fee, where such account will be debited on or after a designated future date. Amends the Federal Deposit Insurance Act to prohibit an insured depository institution from: (1) making any payday loan, either directly or indirectly; or (2) making a loan to another lender for purposes of financing, refinancing, or extending a payday loan. | 2023-01-13T04:49:48Z | |
| 109-s-1879 | 109 | s | 1879 | Bankruptcy Prevention Credit Counseling Act of 2005 | Finance and Financial Sector | 2005-10-17 | 2005-10-17 | Read twice and referred to the Committee on the Judiciary. (text of measure as introduced: CR S11439) | Senate | Sen. Akaka, Daniel K. [D-HI] | HI | D | A000069 | 0 | Bankruptcy Prevention Credit Counseling Act of 2005 - Amends federal bankruptcy law governing allowance of claims or interests to direct the court to allow a claim to which an objection has been raised, except to the extent that the consumer debt is an unsecured claim arising from a debt to a creditor that does not have a policy of waiving additional interest for all debtors who participate in a debt management plan administered by a nonprofit budget and credit counseling agency. | 2023-01-13T04:49:48Z | |
| 109-hr-4020 | 109 | hr | 4020 | Implementing Katrina Disaster Relief Through the CDFI Fund Act | Finance and Financial Sector | 2005-10-07 | 2005-10-07 | Referred to the House Committee on Financial Services. | House | Rep. Frank, Barney [D-MA-4] | MA | D | F000339 | 3 | Implementing Katrina Disaster Relief Through the CDFI Fund Act - Authorizes appropriations for FY2006 to the Community Development Financial Institutions Fund (Fund) in order to provide assistance to community development financial institutions located in a Hurricane Katrina affected area. Requires the Fund to limit the selection of applicants for such assistance to any financial institution that: (1) is located in a Hurricane Katrina affected area; or (2) demonstrates to the satisfaction of the Fund that it has the ability to provide capital, credit, or financial services within the Hurricane Katrina affected area. | 2023-01-13T04:49:55Z | |
| 109-hr-4027 | 109 | hr | 4027 | Hurricane Disaster Mortgage Moratorium Act of 2005 | Finance and Financial Sector | 2005-10-07 | 2005-10-07 | Referred to the House Committee on Financial Services. | House | Rep. Cummings, Elijah E. [D-MD-7] | MD | D | C000984 | 0 | Hurricane Disaster Mortgage Moratorium Act of 2005 - Establishes a moratorium, for the six-month period beginning on August 28, 2005, on any loan or other extension of credit that is secured by residential or commercial real estate that is located within an area in which the President has declared a major disaster area due to Hurricane Katrina or Rita. Prohibits: (1) any such loan from being found or declared delinquent or in default during such period; and (2) the moratorium period from being included within the length of time that a loan was otherwise in default. | 2023-01-13T04:49:55Z | |
| 109-hr-4037 | 109 | hr | 4037 | American Homebuyers Protection Act | Finance and Financial Sector | 2005-10-07 | 2006-01-04 | Referred to the Subcommittee on Housing and Community Opportunity. | House | Rep. Gonzalez, Charles A. [D-TX-20] | TX | D | G000544 | 0 | 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. | 2023-01-13T04:49:55Z | |
| 109-hr-3997 | 109 | hr | 3997 | Data Accountability and Trust Act (DATA) | Finance and Financial Sector | 2005-10-06 | 2006-06-02 | Placed on the Union Calendar, Calendar No. 269. | House | Rep. LaTourette, Steven C. [R-OH-14] | OH | R | L000553 | 24 | Data Accountability and Trust Act (DATA) - (Sec. 2) Requires the Federal Trade Commission ( FTC) to promulgate regulations that require each person engaged in interstate commerce that owns or possesses data in electronic form containing personal information to establish policies and procedures regarding security practices for the treatment and protection of such information. Directs the FTC to study the practicality of requiring a standard method or methods for destroying obsolete paper documents and other nonelectronic data containing personal information. Authorizes the FTC to require such a standard method or methods if the study makes certain findings. Requires information brokers to submit their security policies to the FTC in conjunction with a notification of a breach of security or upon FTC request. Requires the FTC to conduct or require an audit of security practices when information brokers are required to provide notification of such a breach. Authorizes additional audits for five years following such breach. Requires each information broker to: (1) establish procedures to verify the accuracy of the certain information it collects or maintains that identifies individuals, other than merely by name or address; (2) provide to individuals whose personal information it maintains a means to review it; (3) place notice on the Internet instructing individuals how to request access to such information; and (4) correct inaccurate information. Directs the FTC to require information brokers to establish measures which facilitate the auditing or retracing of access to, or transmissions of, electronic data containing personal information. Prohibits information brokers from obtaining or disclosing personal information by false pretenses (pretexting). (Sec. 3) Prescribes procedures for notification to the FTC and affected individuals of breaches of information security. Sets forth special notification requirements for breaches: (1) by third party entities that have been contracted to maintain or process data in ele… | 2023-01-13T04:49:56Z | |
| 109-hconres-257 | 109 | hconres | 257 | Expressing the sense of the Congress with regard to a moratorium on the payment of principal or interest on certain mortgage loans, small business loans, and consumer loans for residents of a Federal disaster area. | Finance and Financial Sector | 2005-09-29 | 2006-01-04 | Referred to the Subcommittee on Financial Institutions and Consumer Credit. | House | Rep. Renzi, Rick [R-AZ-1] | AZ | R | R000574 | 1 | Expresses the sense of Congress that: (1) a voluntary moratorium on mortgage, small business, and consumer loans should be recognized by creditors for a 90-day period beginning on August 28, 2005, with respect to borrowers who resided in, or whose businesses were within, an area in which the President determined that a major disaster exists; (2) creditors should take into account the effect of this dislocation and provide flexibility to affected consumers when considering applications for new loans and credit accounts; (3) federal financial institution regulatory agencies should provide written guidance for financial institutions in implementing such a moratorium; and (4) creditors should refrain from negative reporting with respect to any such loans during this period. | 2023-01-13T04:50:17Z | |
| 109-hr-3945 | 109 | hr | 3945 | Hurricane Katrina Financial Services Relief Act of 2005 | Finance and Financial Sector | 2005-09-29 | 2005-10-28 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Baker, Richard H. [R-LA-6] | LA | R | B000072 | 6 | Hurricane Katrina Financial Services Relief Act of 2005 - (Sec. 4) Expresses the sense of Congress that it is vital that insured depository institutions and insured credit unions continue to provide financial services to consumers displaced or otherwise affected by Hurricane Katrina, which includes the cashing of federal government assistance and benefit checks. Urges the Secretary of the Treasury and federal financial regulators to seek to educate insured depository institutions and insured credit unions on the proper application of the guidance on cashing of federal government assistance and benefit checks. Urges federal financial regulators to continue to work with such institutions and credit unions operating under extraordinary circumstances to facilitate the cashing of federal government assistance and benefit checks. (Sec. 5) Requires a federal reserve bank to waive or rebate any transaction fee for wire transfer services that otherwise would be imposed on any insured depository institution or insured credit union that, as of August 28, 2005, was headquartered in a qualified disaster area. (Sec. 6) Authorizes a federal financial regulator in specified circumstances to: (1) forbear from taking any action, on a case-by-case basis, with respect to any undercapitalized insured entity that is not significantly or critically undercapitalized; and (2) permit such entity, in calculating compliance with the applicable leverage limit, to subtract from its total assets an amount not exceeding the qualifying amount attributable to insurance proceeds. Identifies such an insured entity as one that: (1) derives more than 50% of its total deposits from persons who normally reside within, or whose principal place of business is normally within, a qualified disaster area; (2) was adequately capitalized as of August 25, 2005; (3) incurred reduction of its capital or net worth category as a direct result of Hurricane Katrina;(4) has established a recovery plan, or a capital or net worth restoration plan; and (5) has an accept… | 2023-01-13T04:49:57Z | |
| 109-hr-3935 | 109 | hr | 3935 | Hurricane Relief Bonds Act of 2005 | Finance and Financial Sector | 2005-09-28 | 2005-09-28 | Referred to the House Committee on Ways and Means. | House | Rep. Rogers, Harold [R-KY-5] | KY | R | R000395 | 23 | Hurricane Relief Bonds Act of 2005 - Amends federal money and finance law to authorize the Secretary of the Treasury to designate one or more series of savings bonds or certificates issued as Hurricane Relief Bonds in response to Hurricanes Katrina and Rita in 2005 and the subsequent flooding and displacement of residents along the Gulf Coast. | 2023-01-13T04:50:07Z | |
| 109-s-1787 | 109 | s | 1787 | Relief to Victims of Hurricane Katrina and Other Natural Disasters Act | Finance and Financial Sector | 2005-09-28 | 2005-09-28 | Read twice and referred to the Committee on the Judiciary. | Senate | Sen. Vitter, David [R-LA] | LA | R | V000127 | 5 | Relief to Victims of Hurricane Katrina and Other Natural Disasters Act - Amends federal bankruptcy law governing cases commenced as of October 17, 2005 (the effective date of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005). Excludes from the accounting of current monthly income those payments made to victims of a natural disaster by a governmental unit, or by a qualified religious or charitable entity or organization, solely on account of their status as victims of such natural disaster. Defines "victim of a natural disaster" as one whose financial condition is materially adversely affected by a natural disaster due to: (1) damage sustained to the principal residence as a result of such disaster; (2) an inability to remain at such principal residence; or (3) an inability to work at the principal place of employment of that person, as a result of such disaster. Permits debtor status for a debtor unable to complete credit counseling because of a natural disaster. Modifies requirements governing the statutory deadline for completion of debtors' duties. Authorizes the court to extend any such time period if: (1) the debtor is a victim of a natural disaster; and (2) the debtor's status as a victim of a natural disaster necessitates such extension of time. Includes within the permissible monthly expenses of a chapter 7 debtor the actual reasonably necessary expenses incurred as a result of being a victim of a natural disaster if the debtor provides the requisite documentation. Modifies requirements governing conversion or dismissal of either a Chapter 7 Liquidation case, a Chapter 11 Reorganization case, or Chapter 13 Regular Income case, where the debtor is a victim of a natural disaster. Authorizes the court to grant an extension of time for filing small business bankruptcy documentation if the debtor's inability to meet the statutory deadline is warranted by a natural disaster. Amends the federal judicial code to authorize an alternative venue if the debtor is not able to reside in the… | 2023-01-13T04:49:59Z | |
| 109-s-1788 | 109 | s | 1788 | Libby Health Care Act | Finance and Financial Sector | 2005-09-28 | 2005-12-13 | Sponsor introductory remarks on measure. (CR S13483-13484) | Senate | Sen. Baucus, Max [D-MT] | MT | D | B000243 | 0 | Libby Health Care Act - Amends federal bankruptcy law to prohibit the court from entering an order confirming a plan of reorganization under chapter 11 involving a responsible party, or issuing an injunction in connection with such order, unless the responsible party: (1) has established a health care trust fund for the benefit of individuals suffering from an asbestos-related disease or illness; and (2) has deposited not less than $250 million into such health care trust fund. Defines "responsible party" as a corporation: (1) that has engaged in mining vermiculite that was contaminated by tremolite asbestos; (2) whose officers or directors have been indicted for knowingly releasing asbestos into the ambient air and knowingly endangering the residents of Libby, Montana, and the surrounding communities; and (3) for which the Department of Justice has intervened in a bankruptcy proceeding. Requires any payment received by the United States for recovery of costs associated with the actions to address asbestos contamination in Libby, Montana, to be deposited into such fund. Sets eligibility criteria for medical benefit payments from the fund. | 2023-01-13T04:49:59Z | |
| 109-hr-3909 | 109 | hr | 3909 | Hurricane Check Cashing Relief Act of 2005 | Finance and Financial Sector | 2005-09-27 | 2005-12-06 | Placed on the Union Calendar, Calendar No. 179. | House | Rep. Brown-Waite, Ginny [R-FL-5] | FL | R | B001247 | 7 | Hurricane Check Cashing Relief Act of 2005 - Directs the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) to establish an emergency program under which an insured depository institution may obtain an indemnification commitment from the FDIC for loss it has suffered (up to $2,000 per item) through cashing a check or share draft between August 25 and November 15, 2005, that: (1) is presented for payment by any individual who, as of August 25, 2005, resided in Florida, Alabama, Mississippi, Louisiana, or Texas in a presidentially declared major disaster area; and (2) is subsequently uncollectible. Amends the Federal Reserve Act to direct the federal reserve banks to transfer from their surplus funds up to $200 million to meet the indemnification requirements of this Act. Directs the Board of Governors of the Federal Reserve (Board) to issue implementation guidelines. Provides for a limited 60-day extension of the check or share draft cashing period if the Board determines that the continuing impact of the 2005 hurricane disasters on financial intermediation between consumers and financial institutions, on payment networks, and on other forms of communication require an extension of the programs established under this Act in order to continue to meet the immediate needs of victims of the disaster. | 2023-01-13T04:49:29Z |
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CREATE TABLE legislation (
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congress INTEGER,
bill_type TEXT,
bill_number INTEGER,
title TEXT,
policy_area TEXT,
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latest_action_date TEXT,
latest_action_text TEXT,
origin_chamber TEXT,
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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);