legislation
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
460 rows where congress = 114 and policy_area = "Finance and Financial Sector" sorted by introduced_date descending
This data as json, CSV (advanced)
Suggested facets: origin_chamber, sponsor_party, introduced_date (date), latest_action_date (date), update_date (date)
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 114-hr-6488 | 114 | hr | 6488 | Municipal Securities Disclosure Act of 2016 | Finance and Financial Sector | 2016-12-08 | 2016-12-08 | Referred to the House Committee on Financial Services. | House | Rep. Moore, Gwen [D-WI-4] | WI | D | M001160 | 0 | Municipal Securities Disclosure Act of 2016 This bill amends the Securities Act of 1933 to require registration with the Securities and Exchange Commission (SEC) of certain industrial development bonds that finance private projects through municipal securities. (Currently, the Securities Act exempts these private activity municipal bonds from SEC registration.) The bill amends the Securities Exchange Act of 1934 to require state and local government issuers of municipal securities, or obligated persons or borrowers with respect to these securities, to prepare annual periodic reports and disseminate financial disclosures that the SEC determines appropriate in the public interest and for the protection of investors. (Currently, SEC antifraud rules do not regulate municipal securities issuers directly but the rules prohibit securities dealers from underwriting the buying or selling of municipal securities unless they obtain the state or local government issuer's agreement to provide ongoing disclosures to the Municipal Securities Rulemaking Board. The bill makes state or local government issuers directly responsible for providing the municipal securities disclosures by placing them under the SEC's jurisdiction.) The SEC may prescribe the accounting methods to be followed in the preparation of the financial statements or require the use of accounting methods established by a standard-setting body. An issuer or borrower of outstanding municipal securities exceeding $10 million must adopt internal controls that identify the officials responsible for preparing the required disclosures and provide checks and balances for adequate supervision. The SEC may allow these requirements to be satisfied through a statewide system of disclosure controls and disclosure education. | 2023-01-11T13:33:55Z | |
| 114-hr-6446 | 114 | hr | 6446 | Student Borrower HELP Act of 2016 | Finance and Financial Sector | 2016-12-06 | 2016-12-06 | Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, 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. Pallone, Frank, Jr. [D-NJ-6] | NJ | D | P000034 | 5 | Student Borrower Higher Education Lending Protection Act of 2016 or the Student Borrower HELP Act of 2016 This bill amends the Truth in Lending Act to provide to student borrowers of private education loans: (1) loan payment deferments without interest accruing during any period in which the student borrower is temporarily disabled, and (2) loan discharges if a student borrower dies or becomes totally or permanently disabled. If a student borrower dies or becomes totally or permanently disabled, the student borrower, any cosigner on the loan, or the estate of either the student borrower or the cosigner shall not be obligated to make any additional loan payments. The Internal Revenue Code is amended to exclude from an individual's gross income (which would otherwise include cancellation of debt as income) amounts based on the discharge of a student loan under this bill. An individual is therefore not subject to tax liability for the discharge of student loan debt under this bill. Private educational lenders must disclose to borrowers the number of private education loans they offer and the number and rate of defaults on such loans. | 2023-01-11T13:33:56Z | |
| 114-s-3505 | 114 | s | 3505 | Bankruptcy Fairness Act of 2016 | Finance and Financial Sector | 2016-12-06 | 2016-12-06 | Read twice and referred to the Committee on the Judiciary. (Sponsor introductory remarks on measure: CR S6760) | Senate | Sen. Reed, Jack [D-RI] | RI | D | R000122 | 4 | Bankruptcy Fairness Act of 2016 This bill requires the Administrative Office of the U.S. Courts, the Executive Office for U.S. Trustees, and the Federal Judicial Center to jointly develop and periodically update recommendations regarding the judicial expertise that is required to oversee the bankruptcy process for financial companies and other specified issues related to the bankruptcy process. After the recommendations are submitted, the U.S. Supreme Court must issue a rule that provides for the orderly appointment of a bankruptcy judge or district court judge with expertise in the resolution of financial companies under the federal bankruptcy code to oversee a bankruptcy case involving a financial company. The bill amends the federal bankruptcy code to permit specified financial regulators to raise, appear, and be heard on any issues in a bankruptcy case or proceeding in which the debtor is a financial company. The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation must nominate five disinterested individuals to serve as trustees for a financial company debtor. The U.S. trustee must appoint one of the nominees as a trustee, and the trustee is exempt from the requirements for residency or an office in the judicial district where the case is pending. The Office of Financial Research must submit to Congress a report summarizing and evaluating various analytical works that examine bankruptcy policies. The report must address the effectiveness of the bankruptcy code, a bridge company study, a financing and liquidity study, and a master netting agreement study. It must also include recommendations regarding any legislative or regulatory changes that could address gaps or vulnerabilities identified. | 2023-01-11T13:34:44Z | |
| 114-hr-6434 | 114 | hr | 6434 | FIRST Cap Profits Act of 2016 | Finance and Financial Sector | 2016-12-05 | 2016-12-05 | Referred to the House Committee on Financial Services. | House | Rep. Pallone, Frank, Jr. [D-NJ-6] | NJ | D | P000034 | 4 | Flood Insurance Reimbursement Standards Transparency Cap Profits Act of 2016 or the FIRST Cap Profits Act of 2016 This bill requires the Federal Emergency Management Agency (FEMA) and the property and casualty insurance companies participating in the "Write Your Own" (WYO) flood insurance program under the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act) to implement and comply with the program's oversight and expense reimbursement requirements within one year after enactment of this bill. (The WYO program is a cooperative undertaking between the insurance industry and the Federal Insurance and Mitigation Administration that allows participating property and casualty insurance companies to write and service standard flood insurance policies.) The Biggert-Waters Act is amended to require FEMA to prohibit reimbursements to WYO insurers from exceeding 110% of the aggregate amount of the insurer's actual expenses for selling, writing, and servicing flood insurance policies and adjusting flood claims on behalf of the National Flood Insurance Program. The National Flood Insurance Act of 1968 is amended to require courts to award litigation costs to plaintiffs who prevail in civil actions for fraud or misrepresentation by an insurance company participating in the WYO program. | 2023-01-11T13:33:56Z | |
| 114-hr-6436 | 114 | hr | 6436 | U.S. Insurance Regulation Works Act of 2016 | Finance and Financial Sector | 2016-12-05 | 2016-12-05 | Referred to the House Committee on Financial Services. | House | Rep. Heck, Denny [D-WA-10] | WA | D | H001064 | 7 | U.S. Insurance Regulation Works Act of 2016 This bill requires parties representing the federal government on international insurance regulatory proposals to ensure that any proposals they assent to: are consistent with, and reflective of, existing federal and state insurance laws and regulations, including the primacy of policyholder protection in solvency regulation; and recognize existing federal and state laws and regulations as satisfying such proposals. Federal government representatives must consult with, and seek to include, state insurance commissioners in meetings of any international regulatory, standard-setting, or supervisory forum or in any negotiations of international agreements relating to insurance. | 2023-01-11T13:33:56Z | |
| 114-s-3500 | 114 | s | 3500 | A bill to require the appropriate Federal banking agencies to treat certain non-significant investments in the capital of unconsolidated financial institutions as qualifying capital instruments, and for other purposes. | Finance and Financial Sector | 2016-12-05 | 2016-12-05 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Wicker, Roger F. [R-MS] | MS | R | W000437 | 1 | This bill amends the Federal Deposit Insurance Act to require the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board to provide that a bank's or a savings association's investments in Trust Preferred Securities (pooled and individual instruments) shall not be subject to deduction from such institution's regulatory capital (provided such instruments were held as investments prior to July 21, 2010) for purposes of the final rules entitled "Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule" (Basel III Capital Regulations), published on October 11, 2013. The OCC, the FDIC, and the Federal Reserve Board must amend such Basel III Capital Regulations to implement this bill. | 2023-01-11T13:34:44Z | |
| 114-hr-6427 | 114 | hr | 6427 | Creating Financial Prosperity for Businesses and Investors Act | Finance and Financial Sector | 2016-12-02 | 2016-12-06 | Received in the Senate. | House | Rep. Garrett, Scott [R-NJ-5] | NJ | R | G000548 | 10 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Creating Financial Prosperity for Businesses and Investors Act TITLE I--SMALL BUSINESS CAPITAL FORMATION ENHANCEMENT (Sec. 101) This bill amends the Small Business Investment Incentive Act of 1980 to require the Securities and Exchange Commission (SEC) to issue a public statement, and disclose any actions it intends to take, each time its annual government-business forum submits findings or recommendations regarding the current status of problems and programs relating to small business capital formation. TITLE II--SEC SMALL BUSINESS ADVOCATE (Sec. 201) This title amends the Securities Exchange Act of 1934 to establish within the SEC an Office of the Advocate for Small Business Capital Formation and a Small Business Capital Formation Advisory Committee. The Advocate for Small Business Capital Formation shall: assist small businesses and small business investors in resolving significant problems they may have with the SEC or with self-regulatory organizations; identify areas in which such businesses and investors would benefit from changes in SEC regulations or the rules of such organizations; identify problems that small businesses have with securing access to capital, including any unique challenges to minority-owned and women-owned small businesses; analyze the potential impact on such businesses and investors of proposed SEC regulations and proposed rules that are likely to have a significant economic impact on small businesses and small business capital formation; conduct outreach to such businesses and investors to solicit views on relevant capital formation issues; propose to the SEC changes in its regulations or orders, and propose to Congress legislative, administrative, or personnel changes, to mitigate problems identified and to promote the interests of such businesses and investors; consult with the Investor Advocate on such proposals and advise the Investor Advocate… | 2023-01-11T13:33:57Z | |
| 114-hr-6423 | 114 | hr | 6423 | Justice for Victims of Fraud Act of 2016 | Finance and Financial Sector | 2016-12-01 | 2016-12-01 | Referred to the House Committee on Financial Services. | House | Rep. Sherman, Brad [D-CA-30] | CA | D | S000344 | 14 | Justice for Victims of Fraud Act of 2016 This bill amends the Truth in Lending Act and the Electronic Fund Transfer Act to prohibit predispute arbitration agreements with consumers (i.e., agreements to arbitrate any future disputes between parties instead of pursuing the claims in court) from being valid or enforceable in disputes related to credit card accounts or personal bank accounts that are not subject to a final judgment by a court if the credit card or bank account was not issued in response to a request or application for that account. The bill excludes from this prohibition accounts held by a financial institution pursuant to a bona fide trust agreement. | 2023-01-11T13:33:57Z | |
| 114-s-3491 | 114 | s | 3491 | Justice for Victims of Fraud Act of 2016 | Finance and Financial Sector | 2016-12-01 | 2016-12-01 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Brown, Sherrod [D-OH] | OH | D | B000944 | 15 | Justice for Victims of Fraud Act of 2016 This bill amends the Truth in Lending Act and the Electronic Fund Transfer Act to prohibit predispute arbitration agreements with consumers (i.e., agreements to arbitrate any future disputes between parties instead of pursuing the claims in court) from being valid or enforceable in disputes related to credit card accounts or personal bank accounts that are not subject to a final judgment by a court if the credit card or bank account was not issued in response to a request or application for that account. The bill excludes from this prohibition accounts held by a financial institution pursuant to a bona fide trust agreement. | 2023-01-11T13:33:52Z | |
| 114-hr-6392 | 114 | hr | 6392 | Systemic Risk Designation Improvement Act of 2016 | Finance and Financial Sector | 2016-11-22 | 2016-12-05 | Received in the Senate. | House | Rep. Luetkemeyer, Blaine [R-MO-3] | MO | R | L000569 | 9 | Systemic Risk Designation Improvement Act of 2016 (Sec. 3) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC makes a final determination that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities, could threaten the financial stability of the United States. This FSOC determination procedure replaces the current process under which bank holding companies with total consolidated assets of $50 billion or more are automatically subject to such enhanced supervision and prudential standards. FSOC must make these final determinations using an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance, which considers each bank holding company's size, interconnectedness, available substitutes, global cross-jurisdictional activity, and complexity. A bank holding company designated, as of this bill's enactment, as a Global Systemically Important Bank (GSIB) by the Financial Stability Board (FSB) shall be deemed to have been the subject of a final determination that it could pose a threat to U.S. financial stability, thereby making these GSIBs subject to enhanced supervision. (Sec. 4) The bill revises the Federal Reserve Board's authority over bank holding company acquisition restrictions, prohibitions on interlocks between management of different financial companies, and enhanced supervision and prudential standards to make these requirements subject to FSOC's determination instead of operating automatically when a bank meets a $50 billion threshold. (Sec. 5) FSOC is prohibited from making a final determination concerning a bank holding company under this bill before one year after its enactment. A bank holding company sh… | 2023-01-11T13:33:57Z | |
| 114-hr-6390 | 114 | hr | 6390 | Systemic Risk Designation Improvement Act of 2016 | Finance and Financial Sector | 2016-11-18 | 2016-11-18 | Referred to the House Committee on Financial Services. | House | Rep. Luetkemeyer, Blaine [R-MO-3] | MO | R | L000569 | 0 | Systemic Risk Designation Improvement Act of 2016 This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC makes a final determination that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities, could threaten the financial stability of the United States. This FSOC determination procedure replaces the current process under which bank holding companies with total consolidated assets of $50 billion or more are automatically subject to such enhanced supervision and prudential standards. FSOC's determination must be based upon specified factors, using an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance. A bank holding company designated as a Global Systemically Important Bank by the Financial Stability Board, as of this bill's enactment, shall be deemed to have been the subject of a final determination that it could pose a threat to U.S. financial stability for any of those reasons. | 2023-01-11T13:34:01Z | |
| 114-hr-6391 | 114 | hr | 6391 | Systemic Risk Designation Improvement Act of 2016 | Finance and Financial Sector | 2016-11-18 | 2016-11-18 | Referred to the House Committee on Financial Services. | House | Rep. Luetkemeyer, Blaine [R-MO-3] | MO | R | L000569 | 0 | Systemic Risk Designation Improvement Act of 2016 This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC makes a final determination that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities, could threaten the financial stability of the United States. This FSOC determination procedure replaces the current process under which bank holding companies with total consolidated assets of $50 billion or more are automatically subject to such enhanced supervision and prudential standards. FSOC's determination must be based upon specified factors, using an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance. A bank holding company designated as a Global Systemically Important Bank by the Financial Stability Board, as of this bill's enactment, shall be deemed to have been the subject of a final determination that it could pose a threat to U.S. financial stability for any of those reasons. A bank holding company with total consolidated assets of $50 billion or more on the date of the enactment of this bill may elect to be subject to enhanced supervision and prudential standards by notifying FSOC within one year after this bill's enactment. | 2023-01-11T13:34:01Z | |
| 114-s-3461 | 114 | s | 3461 | Securities and Exchange Commission Overpayment Credit Act | Finance and Financial Sector | 2016-09-29 | 2016-09-29 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Kirk, Mark Steven [R-IL] | IL | R | K000360 | 0 | Securities and Exchange Commission Overpayment Credit Act This bill instructs the Securities and Exchange Commission (SEC) to offset, by a prescribed amount, future fees and assessments due by a national securities exchange or a national securities association that has paid fees and assessments to the SEC in an amount exceeding the amount of transaction fees required under the Securities and Exchange Act of 1934 if, within 10 years of paying such excess amount, the exchange or association informs the SEC about payment of that amount. | 2023-01-11T13:33:30Z | |
| 114-s-3467 | 114 | s | 3467 | U.S. Territories Investor Protection Act of 2016 | Finance and Financial Sector | 2016-09-29 | 2016-09-29 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Menendez, Robert [D-NJ] | NJ | D | M000639 | 1 | U.S. Territories Investor Protection Act of 2016 This bill amends the Investment Company Act of 1940 to repeal the exemption from its coverage of investment companies created under the laws of Puerto Rico, the Virgin Islands, or any other U.S. possession. | 2023-01-11T13:34:07Z | |
| 114-hr-6196 | 114 | hr | 6196 | Repeatedly Flooded Communities Preparation Act | Finance and Financial Sector | 2016-09-28 | 2016-09-28 | Referred to the House Committee on Financial Services. | House | Rep. Royce, Edward R. [R-CA-39] | CA | R | R000487 | 2 | Repeatedly Flooded Communities Preparation Act This bill amends the National Flood Insurance Act to direct the Federal Emergency Management Agency (FEMA) to require communities participating in the national flood insurance program that have adopted land use control measures to: (1) analyze and map areas in which are located structures and public or nonprofit facilities that have been repetitively damaged by flooding; and (2) develop a community-specific plan for addressing continuing flood risks and make the plan, updates, and reports on progress in reducing flood risk publicly available. FEMA shall provide sanctions upon communities that fail to comply with the requirements of this bill or to make sufficient progress in reducing the flood risks to areas repeatedly damaged by floods. | 2023-01-11T13:33:42Z | |
| 114-hr-6225 | 114 | hr | 6225 | Ensuring Diverse Leadership at the Federal Reserve Act of 2016 | Finance and Financial Sector | 2016-09-28 | 2016-09-28 | Referred to the House Committee on Financial Services. | House | Rep. Beatty, Joyce [D-OH-3] | OH | D | B001281 | 5 | Ensuring Diverse Leadership at the Federal Reserve Act of 2016 This bill amends the Federal Reserve Act to require that in making the appointment of a president, a Federal Reserve Bank must interview at least one individual reflective of gender diversity and one reflective of racial or ethnic diversity. The bill amends numerous banking-, finance-, and trade-related Acts to make references to officials (including those to the Chairman of the Board of Governors of the Federal Reserve System) gender-neutral. | 2023-01-11T13:33:41Z | |
| 114-hr-6244 | 114 | hr | 6244 | To require the appropriate Federal banking agencies to treat certain non-significant investments in the capital of unconsolidated financial institutions as qualifying capital instruments, and for other purposes. | Finance and Financial Sector | 2016-09-28 | 2016-09-28 | Referred to the House Committee on Financial Services. | House | Rep. Duffy, Sean P. [R-WI-7] | WI | R | D000614 | 4 | This bill amends the Federal Deposit Insurance Act to require the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board to treat non-significant investments in the capital of unconsolidated financial institutions as qualifying capital instruments, provided such instruments were held as investments prior to July 21, 2010, for purposes of the final rules entitled "Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule" (Basel III Capital Regulations), published on October 11, 2013. The OCC, the FDIC, and the Federal Reserve Board must amend such Basel III Capital Regulations to implement this bill. | 2023-01-11T13:33:41Z | |
| 114-hr-6251 | 114 | hr | 6251 | PCAOB Enforcement Transparency Act of 2016 | Finance and Financial Sector | 2016-09-28 | 2016-09-28 | Referred to the House Committee on Financial Services. | House | Rep. Garrett, Scott [R-NJ-5] | NJ | R | G000548 | 0 | PCAOB Enforcement Transparency Act of 2016 This bill amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings public unless the Board, on its own motion or after considering the motion of a party, orders otherwise. | 2023-01-11T13:33:40Z | |
| 114-hr-6266 | 114 | hr | 6266 | To amend the Federal Deposit Insurance Act to clarify the definition of a deposit broker, and for other purposes. | Finance and Financial Sector | 2016-09-28 | 2016-09-28 | Referred to the House Committee on Financial Services. | House | Rep. McHenry, Patrick T. [R-NC-10] | NC | R | M001156 | 1 | This bill amends the Federal Deposit Insurance Act to exclude from the definition of "deposit broker" an affiliate of an insured depository institution, with respect to funds of an individual retirement account, pension, retirement, profit-sharing, bonus, thrift savings, incentive, or other similar benefit plan for which the depository institution acts as custodian or directed trustee, to the extent the affiliate provides brokerage, advisory, or agency services to participants or beneficiaries of the benefit plan and the services result in the investment of its assets as deposits of the depository institution. (Generally, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit into one or more deposit accounts.) Consumer credit Information regarding deposit accounts shared by an insured depository institution with its affiliates that is a communication among persons related by common ownership or affiliated by corporate control shall not be a factor in determining whether: (1) an affiliate is considered a deposit broker, or (2) deposits resulting from referrals of customers to an affiliate are subject to the brokered deposit restrictions. | 2023-01-11T13:33:40Z | |
| 114-hr-6287 | 114 | hr | 6287 | MOBILE Act of 2016 | Finance and Financial Sector | 2016-09-28 | 2016-09-28 | Referred to the House Committee on Financial Services. | House | Rep. Tipton, Scott R. [R-CO-3] | CO | R | T000470 | 5 | Making Online Banking Initiation Legal and Easy Act of 2016 or the MOBILE Act of 2016 This bill authorizes a financial institution, with an individual's consent, to record personal information from a swipe or copy of an individual's driver's license or personal identification card and store the information electronically for the purpose of verifying the authenticity of the driver's license or identification card, verifying the identity of the individual, or complying with legal requirements. Financial institutions must not sell, rent, transfer, or make the personal information available to another person, other than an affiliate. | 2023-01-11T13:33:39Z | |
| 114-s-3442 | 114 | s | 3442 | Terrorism Victims Protection Act | Finance and Financial Sector | 2016-09-28 | 2016-09-28 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Blumenthal, Richard [D-CT] | CT | D | B001277 | 0 | Terrorism Victims Protection Act This bill amends the Terrorism Risk Insurance Act of 2002 to allow a person's judgment against a terrorist party or a state sponsor of terrorism to be satisfied with: (1) assets blocked by the U.S. government that pass through the U.S. financial system as a transfer of funds between non-state owned, non-U.S. financial institutions located outside the United States or as a mid-stream electronic fund transfer in possession of an intermediary bank; (2) assets located outside the United States that, if located in the United States, would be subject to seizure or freezing under the Trading with the Enemy Act or the International Emergency Economic Powers Act, if a U.S. court has jurisdiction over the person in possession; or (3) attempted transfers for the benefit of a terrorist party to accounts located outside the United States. The bill protects the interests of non-terrorist third parties in the blocked assets, but these third-party protections do not apply to custodial interests of a foreign securities intermediary holding blocked assets outside the United States for the government of Iran. The bill nullifies attempted transfers outside the United States of assets of a state sponsor of terrorism liable for personal injury or death, unless the person who held the asset establishes that the transfer was not a willful violation of a court order or an enforcement process. | 2023-01-11T13:33:30Z | |
| 114-s-3453 | 114 | s | 3453 | Crowdfunding Enhancement Act | Finance and Financial Sector | 2016-09-28 | 2016-09-28 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S6238; text of measure as introduced: CR S6238) | Senate | Sen. Daines, Steve [R-MT] | MT | R | D000618 | 0 | Crowdfunding Enhancement Act This bill amends the Securities Act of 1933 to allow a crowdfunding issuer to sell shares through a crowdfunding vehicle. (Crowdfunding is a method of capital formation in which groups of people pool money, typically composed of small individual contributions, and often via Internet platforms, either to invest in a company or to support an effort by others to accomplish a specific goal.) A "crowdfunding vehicle" is a company that: has purposes limited to acquiring, holding, and disposing securities issued by a single company in one or more transactions and made pursuant to crowdfunding exemption transaction requirements; issues only one class of securities; receives no compensation for such acquisition, holding, or disposition of securities; is a co-issuer with the company whose securities it holds; and meets specified requirements related to disclosure obligations and the use of investment advisers. The bill amends the Securities Exchange Act of 1934 to revise the conditions upon which the Securities and Exchange Commission (SEC) shall exempt securities issued in crowdfunding transactions from SEC registration requirements. Under current law, holders of crowdfunded shares do not count toward the shareholder threshold beyond which an issuer is required to register its securities with the SEC, provided that the issuer: (1) is current in its annual reporting obligations, (2) retains the services of a registered transfer agent, and (3) has less than $25 million in assets. The bill maintains this exemption but removes and replaces the conditions upon which it applies. Specifically, holders of crowdfunded shares shall not count toward the shareholder threshold if the issuer has: (1) a public float of less than $75 million, and (2) annual revenues of less than $50 million. | 2023-01-11T13:33:30Z | |
| 114-s-3404 | 114 | s | 3404 | A bill to amend the Federal Deposit Insurance Act to require the appropriate Federal banking agencies to treat certain municipal obligations as level 2B liquid assets, and for other purposes. | Finance and Financial Sector | 2016-09-27 | 2016-09-27 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Rounds, Mike [R-SD] | SD | R | R000605 | 9 | This bill amends the Federal Deposit Insurance Act to require certain municipal obligations to be treated as level 2B liquid assets if they are investment grade, liquid, and readily marketable. Under current law, corporate debt securities and publicly traded common-equity shares, but not municipal obligations, may be treated as level 2B liquid assets (which are considered to be high-quality assets). | 2023-01-11T13:33:32Z | |
| 114-sres-575 | 114 | sres | 575 | A resolution supporting the goals and ideals of National Retirement Security Week, including raising public awareness of the various tax-preferred retirement vehicles, increasing personal financial literacy, and engaging the people of the United States on the keys to success in achieving and maintaining retirement security throughout their lifetimes. | Finance and Financial Sector | 2016-09-26 | 2016-09-26 | Submitted in the Senate, considered, and agreed to without amendment and with a preamble by Unanimous Consent. (consideration: CR S6089; text as passed Senate: CR S6083) | Senate | Sen. Enzi, Michael B. [R-WY] | WY | R | E000285 | 4 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Expresses support for the goals and ideals of National Retirement Security Week, including raising public awareness of the importance of saving adequately for retirement. Acknowledges the need to raise public awareness of a variety of tax-preferred retirement vehicles. Calls on states, localities, schools, universities, nonprofit organizations, businesses, other entities, and the people of the United States to observe National Retirement Security Week with appropriate programs and activities. | 2018-06-02T06:21:52Z | |
| 114-hr-6118 | 114 | hr | 6118 | Financial Services Innovation Act of 2016 | Finance and Financial Sector | 2016-09-22 | 2016-10-19 | Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. | House | Rep. McHenry, Patrick T. [R-NC-10] | NC | R | M001156 | 0 | Financial Services Innovation Act of 2016 This bill requires specified federal departments and agencies (agencies) to periodically publish in the Federal Register a nonexclusive list identifying three or more areas of existing regulation: that apply or may apply to a financial innovation offered or intended to be offered by a covered person, and that the agency would consider modifying or waiving if it were to receive a petition from the covered person in accordance with this bill relating to that regulation. The bill defines "a covered person" as a person that offers or intends to offer a financial innovation by submitting a petition to a Financial Services Innovation Office (FSIO) at one or more agencies. Each agency shall establish its own FSIO to: promote financial innovations, and assist covered persons whose petitions have been approved pursuant to this bill. Each agency, through its FSIO, shall: support the development of financial innovations; coordinate with FSIOs at other agencies to share information and data; and establish procedures to reduce the time and cost of offering a financial innovation to the public and enable greater access to financial innovations. The agencies shall create a FSIO Liaison Committee which shall consult on the administration, coordination, and oversight of each agency's FSIO. | 2023-01-11T13:33:45Z | |
| 114-hr-6126 | 114 | hr | 6126 | Corporate Transparency and Accountability Act | Finance and Financial Sector | 2016-09-22 | 2016-09-22 | Referred to the House Committee on Financial Services. | House | Rep. Pocan, Mark [D-WI-2] | WI | D | P000607 | 5 | Corporate Transparency and Accountability Act This bill amends the Securities Exchange Act of 1934 to require each issuer of a security required to file an annual or quarterly report to disclose during the period covered in that report: the issuer's total pre-tax profit, the total amount paid by the issuer in state taxes, the total amount paid by the issuer in federal taxes, and the total amount paid by the issuer in foreign taxes. Each such issuer shall also disclose in that report specified corporate financial information, aggregated on a country-by-country basis, for each of its subsidiaries. | 2023-01-11T13:33:45Z | |
| 114-hr-6162 | 114 | hr | 6162 | Protect Prepaid Accounts Act of 2016 | Finance and Financial Sector | 2016-09-22 | 2016-09-27 | Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. | House | Rep. Tipton, Scott R. [R-CO-3] | CO | R | T000470 | 0 | Protect Prepaid Accounts Act of 2016 This bill amends the Federal Deposit Insurance Act to state that prepaid funds deposited by an agent or nominee in an insured depository institution shall satisfy the requirements of the primary exclusion from the definition of deposit broker, unless that agent or nominee controls the deposits and has the contractual right to cause the transfer of those deposits to another insured depository institution selected by the agent or nominee. (Generally, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit into one or more deposit accounts.) The bill defines "prepaid funds" as funds deposited through a prepaid program or made available from a card, code, or other device that is not otherwise an account established primarily for personal, household, or family purposes, where the device is: issued on a prepaid basis to a consumer in a specified amount, or is not issued on a prepaid basis but capable of being loaded with funds; and redeemable at multiple unaffiliated merchants for goods or services or usable at automated teller machines or for person-to-person transfers. | 2023-01-11T13:33:44Z | |
| 114-s-3385 | 114 | s | 3385 | Medical Bankruptcy Fairness Act of 2016 | Finance and Financial Sector | 2016-09-22 | 2016-09-22 | Read twice and referred to the Committee on the Judiciary. | Senate | Sen. Whitehouse, Sheldon [D-RI] | RI | D | W000802 | 2 | Medical Bankruptcy Fairness Act of 2016 This bill amends federal bankruptcy law to allow a medically distressed debtor to exempt, from the property of the estate in bankruptcy, up to $250,000 of the debtor's aggregate interest in: (1) specified real or personal property that the debtor or debtor's dependent uses as a residence, (2) a cooperative that owns such property, or (3) a burial plot for the debtor or debtor's dependent. With respect to a medically distressed debtor, the bill waives certain administrative and procedural requirements. In addition, the bill allows a medically distressed debtor to discharge in bankruptcy debts for certain educational loans. A debtor who seeks relief as a medically distressed debtor must attest in writing, under penalty of perjury, that the debtor's medical expenses are genuine and were not specifically incurred to bring the debtor within the meaning of "medically distressed debtor." | 2023-01-11T13:33:32Z | |
| 114-hr-6104 | 114 | hr | 6104 | Timely Payments for Flood Victims Act of 2016 | Finance and Financial Sector | 2016-09-21 | 2016-09-21 | Referred to the House Committee on Financial Services. | House | Rep. Graves, Garret [R-LA-6] | LA | R | G000577 | 4 | Timely Payments for Flood Victims Act of 2016 This bill amends the National Flood Insurance Act of 1968 to direct the Federal Emergency Management Agency (FEMA) to require that a final determination and notification regarding approval of a claim for damage to or loss of property under the national flood insurance program be made by the expiration of the 30-day period after such claim was made. Such period may be extended by a single additional period of 15 days if extraordinary circumstances are demonstrated. Claims shall be paid as soon as possible after approval. | 2023-01-11T13:33:46Z | |
| 114-s-3373 | 114 | s | 3373 | A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes. | Finance and Financial Sector | 2016-09-21 | 2016-09-21 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Warner, Mark R. [D-VA] | VA | D | W000805 | 4 | This bill amends the Federal Deposit Insurance Act to exclude reciprocal deposits of an insured depository institution from consideration as prohibited broker deposits if the total reciprocal deposits of the institution do not exceed the lesser of $10 billion or 20% of its total liabilities. Reciprocal deposits are those received by an agent institution through a deposit placement network with the same maturity (if any) and in the same aggregate amount as covered deposits placed by the agent institution in other network member banks. (Generally, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit into one or more deposit accounts.) | 2023-01-11T13:33:33Z | |
| 114-hr-6063 | 114 | hr | 6063 | 911 Emergency Service Protection Act | Finance and Financial Sector | 2016-09-15 | 2016-09-15 | Referred to the House Committee on Financial Services. | House | Rep. Torres, Norma J. [D-CA-35] | CA | D | T000474 | 0 | 911 Emergency Service Protection Act This bill amends the Investment Advisers Act of 1940 to require each investment adviser who is required to file annual or other reports under such Act and who advises a private fund that owns a controlling interest in an emergency services company to disclose to the Securities and Exchange Commission, at least annually: the change in the average response time of emergency vehicles since the private fund acquired a controlling interest in the company, the percentage of response times of emergency vehicles deployed by the company to a unit of local government that do not meet a required response time established by a contract for emergency services between the company and such local government, and a description of the impact of any such response time failure on the value of the company to the private fund. | 2023-01-11T13:33:47Z | |
| 114-hr-6025 | 114 | hr | 6025 | American Innovation $1 Coin Act | Finance and Financial Sector | 2016-09-14 | 2016-09-14 | Referred to the House Committee on Financial Services. | House | Rep. Himes, James A. [D-CT-4] | CT | D | H001047 | 18 | American Innovation $1 Coin Act This bill directs the Department of the Treasury to mint and issue American Innovation $1 coins commemorating an innovation, an individual innovator or pioneer, or a group of innovators or pioneers from each state, the District of Columbia, and U.S. territory. Four such coins shall be issued each year for 14 years until one coin for each of the states, the District of Columbia, and the territories has been issued. Such coins shall be issued in alphabetic order of the jurisdiction represented. | 2023-01-11T13:33:48Z | |
| 114-s-3321 | 114 | s | 3321 | Empowering States' Rights To Protect Consumers Act of 2016 | Finance and Financial Sector | 2016-09-14 | 2016-09-14 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Whitehouse, Sheldon [D-RI] | RI | D | W000802 | 4 | Empowering States' Rights To Protect Consumers Act of 2016 This bill amends the Truth In Lending Act to limit the annual percentage rate applicable to any consumer credit transaction (other than a residential mortgage transaction), including any associated fees, to the maximum rate permitted by the laws of the state in which the consumer resides. | 2023-01-11T13:33:34Z | |
| 114-hr-6017 | 114 | hr | 6017 | Race to the Job Initiative Act | Finance and Financial Sector | 2016-09-13 | 2016-09-14 | Referred to the Subcommittee on Highways and Transit. | House | Rep. Richmond, Cedric L. [D-LA-2] | LA | D | R000588 | 11 | Race to the Job Initiative Act This bill requires the Department of the Treasury to establish and administer a grant program to provide anchor institution (i.e., a hospital, college, research center, or nonprofit institution) grants and infrastructure grants to eligible low-income communities for community development. Treasury shall select: (1) within the first year after enactment of this bill, 30 of such low-income communities to receive these grants; and (2) within the second year, an additional 20 of these communities. Treasury must award a capital assistance grant to each community development financial institution specified in the grantee's application to make loans to, and invest in, businesses, organizations, or public-private partnerships located in the eligible low-income community. The bill amends the Internal Revenue Code to allow a new markets tax credit for investment in a partner community development financial institution without regard to allocation limitations on such credit. The bill amends the Community Development Banking and Financial Institutions Act of 1994 to limit to $20 million (in the aggregate, during a three-year period) an award from the Community Development Financial Institutions (CDFI) Fund to a community development financial institution and its subsidiaries and affiliates receiving a capital assistance grant under this bill. CDFI funds are limited annually for these entities to: (1) $10 million for financial assistance, and (2) $500,000 for technical assistance. | 2023-01-11T13:33:49Z | |
| 114-s-3318 | 114 | s | 3318 | Consumer Financial Protection Bureau Accountability Act of 2016 | Finance and Financial Sector | 2016-09-13 | 2016-09-14 | Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 627. | Senate | Sen. Perdue, David [R-GA] | GA | R | P000612 | 0 | Consumer Financial Protection Bureau Accountability Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to change the source of funding for the Consumer Financial Protection Bureau (CFPB) from Federal Reserve System transfers to annual appropriations. Under current law, the transfers from the Federal Reserve System permit the CFPB to be funded outside of the annual appropriations process. | 2018-06-02T07:48:02Z | |
| 114-hr-5983 | 114 | hr | 5983 | Financial CHOICE Act of 2016 | Finance and Financial Sector | 2016-09-09 | 2016-12-20 | Placed on the Union Calendar, Calendar No. 693. | House | Rep. Hensarling, Jeb [R-TX-5] | TX | R | H001036 | 5 | Financial CHOICE Act of 2016 This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, among other Acts, to: repeal the "Volcker Rule" (which restricts banks from making certain speculative investments); with respect to winding down failing banks, eliminate the Federal Deposit Insurance Corporation's orderly liquidation authority and establish new provisions regarding financial institution bankruptcy; and repeal the "Durbin Amendment" (which limits the fees that may be charged to retailers for debit card processing). Certain banks may exempt themselves from specified regulatory standards if they maintain a certain ratio of capital to total assets and meet other specified requirements. The bill removes the Financial Stability Oversight Council's authority to designate non-bank financial institutions and financial market utilities as "systemically important" (also known as "too big to fail"). Under current law, entities so designated are subject to additional regulatory restrictions. Designations made previously are retroactively repealed. The bill also amends the Consumer Financial Protection Act of 2010 to: restructure the Consumer Financial Protection Bureau by replacing its director with a bipartisan commission; subject the commission to the congressional appropriations process, expanded judicial review, and additional congressional oversight; and limit the commission's authority to take action against entities for "abusive" practices. In addition, the bill: modifies provisions related to the Securities and Exchange Commission's managerial structure and enforcement authority; eliminates the Office of Financial Research within the Department of the Treasury; and revises provisions related to capital formation, insurance regulation, civil penalties for securities laws violations, and community financial institutions. | 2023-01-11T13:33:50Z | |
| 114-hr-5991 | 114 | hr | 5991 | Risk-Based Credit Examination Act | Finance and Financial Sector | 2016-09-09 | 2016-09-09 | Referred to the House Committee on Financial Services. | House | Rep. Wagner, Ann [R-MO-2] | MO | R | W000812 | 1 | Risk-Based Credit Examination Act This bill amends the Securities Exchange Act of 1934 to provide the Securities and Exchange Commission's Office of Credit Ratings with discretion concerning the matters to review in its annual examinations of the management and activities of nationally recognized statistical rating organizations. | 2023-01-11T13:33:50Z | |
| 114-hr-5953 | 114 | hr | 5953 | National Flood Insurance Program Debt Forgiveness Act of 2016 | Finance and Financial Sector | 2016-09-08 | 2016-09-08 | Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, 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. Waters, Maxine [D-CA-43] | CA | D | W000187 | 7 | National Flood Insurance Program Debt Forgiveness Act of 2016 This bill cancels all indebtedness outstanding as of September 30, 2016, of the Federal Emergency Management Agency under any notes or other obligations issued pursuant to the National Flood Insurance Act of 1968 and the Federal Flood Insurance Act of 1956. Such cancelled indebtedness may be treated as a public debt of the United States and is designated as an emergency pursuant to the Statutory Pay-As-You-Go Act of 2010. | 2023-01-11T13:33:51Z | |
| 114-hr-5928 | 114 | hr | 5928 | Expanding Rent-to-Own Protections Act of 2016 | Finance and Financial Sector | 2016-07-25 | 2016-07-25 | Referred to the House Committee on Financial Services. | House | Rep. Delaney, John K. [D-MD-6] | MD | D | D000620 | 2 | Expanding Rent-to-Own Protections Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to revise and expand the definition of the term "consumer financial product or service" to include terminable lease or bailment of personal property contracts (rent-to-own transactions) (other than a lease or bailment of a motor vehicle) for use by the consumer primarily for personal, family, or household purposes under which: a consumer has the right of possession and use of the property, as well as the option to periodically renew the contract by making payments; and a seller agrees to transfer property ownership to the consumer upon the fulfillment of all contract obligations of the consumer. The Consumer Financial Protection Bureau shall: prevent unfair, deceptive, or abusive acts or practices in connection with such contracts; and issue regulations identifying methods to protect consumers from entering into them. | 2023-01-11T13:33:18Z | |
| 114-hr-5796 | 114 | hr | 5796 | Fair Debt Collections Practices Clarification Act of 2016 | Finance and Financial Sector | 2016-07-14 | 2016-08-11 | Referred to the Subcommittee on the Constitution and Civil Justice. | House | Rep. Cartwright, Matt [D-PA-17] | PA | D | C001090 | 1 | Fair Debt Collections Practices Clarification Act of 2016 This bill amends the Fair Debt Collection Practices Act to permit the award of court costs and attorney fees to the defendant in an action to enforce liability for violating such Act only after finding that the action was brought in bad faith and for the purpose of harassment. | 2023-01-11T13:33:23Z | |
| 114-hr-5807 | 114 | hr | 5807 | Bank Service Company Examination Coordination Act of 2016 | Finance and Financial Sector | 2016-07-14 | 2016-07-14 | Referred to the House Committee on Financial Services. | House | Rep. Duffy, Sean P. [R-WI-7] | WI | R | D000614 | 7 | Bank Service Company Examination Coordination Act of 2016 This bill amends the Bank Service Company Act to allow the appropriate federal banking agency with respect to the principal shareholder or principal member of a bank service company to authorize a state banking agency (in addition to any other federal banking agency, as under current law) that supervises any other shareholder or member to make an examination of the bank service company. | 2023-01-11T13:33:22Z | |
| 114-hr-5808 | 114 | hr | 5808 | Comprehensive Regulatory Review Act of 2016 | Finance and Financial Sector | 2016-07-14 | 2016-07-14 | Referred to the House Committee on Financial Services. | House | Rep. Duffy, Sean P. [R-WI-7] | WI | R | D000614 | 4 | Comprehensive Regulatory Review Act of 2016 This bill amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to require the Federal Financial Institutions Examination Council and each of the federal financial regulators to conduct, at least once every five years, a comprehensive review of all regulations prescribed by the council or the regulator, including all regulations issued after December 31, 2006, in order to identify outdated or otherwise unnecessary regulatory requirements imposed on covered persons. "Covered persons" are those that engage in offering or providing a consumer financial product or service and affiliates who provide services to them. Under the process for conducting such a review, the council and the appropriate regulator shall also: consider the impact of the regulations on the financial safety and soundness, as well as on the risk profile and business models, of the covered persons; and determine the necessity, appropriateness, and impact of continuing to apply the regulatory action. The bill requires the council and the appropriate regulator to ensure that the notice and comment period with respect to the regulations reviewed is conducted at least once every 5 years (rather than, as currently, 10 years). The council and the appropriate regulator shall eliminate or tailor unnecessary regulations so as to limit the regulatory compliance burdens. | 2023-01-11T13:33:22Z | |
| 114-hr-5852 | 114 | hr | 5852 | To amend the Securities Investor Protection Act of 1970 to confirm that a customer's net equity claim is based on the customer's last statement and that certain recoveries are prohibited, to provide the Securities and Exchange Commission with oversight of the Securities Investor Protection Corporation, and for other purposes. | Finance and Financial Sector | 2016-07-14 | 2016-07-14 | Referred to the House Committee on Financial Services. | House | Rep. Luetkemeyer, Blaine [R-MO-3] | MO | R | L000569 | 3 | This bill amends the Securities Investor Protection Act of 1970 to revise provisions related to determining a customer's "net equity" (the dollar amount of the customer's accounts) for purposes of a claim. In general, such a determination shall be based on: (1) the information contained in the customer's final statement, and (2) certain additional written confirmations received after the final statement but prior to the filing date. However, the bill establishes exceptions to this requirement: (1) when the debtor's records indicate a higher net value, or (2) in specified cases involving the customer's awareness of fraudulent activity by the debtor. The bill also establishes specified methodologies for allocating a customer's property in a liquidation proceeding. Under current law, a "customer" of a debtor is a person that has a claim on account of certain securities received, acquired, or held by the debtor. The bill expands the definition of "customer" to include a person: (1) that had cash or securities that were converted or otherwise misappropriated by the debtor, irrespective of whether the debtor held or otherwise had custody, possession, or control of such cash or securities; or (2) that is deemed a customer of the debtor by the Securities and Exchange Commission (SEC). The SEC may direct the Securities Investor Protection Corporation (SIPC) to take necessary or appropriate action for the protection of investors. If the balance of the SIPC Fund decreases by more than a specified amount during a fiscal year, the SIPC must establish and carry out a fund replenishment plan. The SEC may transfer amounts from a specified fund established under the Sarbanes-Oxley Act of 2002 if the SEC determines that payments from the SIPC Fund are required because a debtor committed fraud. | 2023-01-11T13:33:21Z | |
| 114-hr-5869 | 114 | hr | 5869 | To amend the Federal Credit Union Act to require the National Credit Union Administration Board to provide a rationale for any amounts the Board proposes to use from the National Credit Union Share Insurance Fund, and for other purposes. | Finance and Financial Sector | 2016-07-14 | 2016-07-14 | Referred to the House Committee on Financial Services. | House | Rep. Mulvaney, Mick [R-SC-5] | SC | R | M001182 | 1 | This bill amends the Federal Credit Union Act to require the National Credit Union Administration (NCUA) Board to submit annually with its detailed business-type budget a report that contains: (1) an analysis of the NCUA's operating expenses and the extent to which those expenses are funded by assessment fees collected from federal credit unions or amounts transferred from the National Credit Union Share Insurance Fund (NCUSIF), and (2) a supporting rationale for proposals to use amounts in the NCUSIF for operating expenses. | 2023-01-11T13:33:20Z | |
| 114-hr-5907 | 114 | hr | 5907 | Community Mortgage Lender Regulatory Act of 2016 | Finance and Financial Sector | 2016-07-14 | 2016-07-14 | Referred to the House Committee on Financial Services. | House | Rep. Williams, Roger [R-TX-25] | TX | R | W000816 | 0 | Community Mortgage Lender Regulatory Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to prohibit the Consumer Financial Protection Bureau (CFPB) from auditing, investigating, or taking an enforcement action against a responsible community mortgage lender unless requested to do so by one of several specified regulators or agencies. A "responsible community mortgage lender" is one that: (1) meets certain restrictions with respect to number and volume of mortgage loan originations and amount of either assets or net worth; and (2) has not, with respect to its mortgage loan originations and within a specified time frame, been subject to a cease and desist order or found by a court to have violated the law. Furthermore, the CFPB and other federal banking agencies are prohibited from requiring such a lender to audit one of its vendors or third-party contractors unless the CFPB or other agency has reasonable cause to believe that the vendor or contractor is causing the lender to violate the law. The bill also revises the methodology for calculating mortgage loan originations with respect to the qualified mortgage requirement in 2016. | 2023-01-11T13:33:19Z | |
| 114-hres-835 | 114 | hres | 835 | Expressing the sense of the House of Representatives that the United States should adopt a national policy for technology to promote consumers' access to financial tools and online commerce to promote economic growth and consumer empowerment. | Finance and Financial Sector | 2016-07-14 | 2016-09-12 | Motion to reconsider laid on the table Agreed to without objection. | House | Rep. Kinzinger, Adam [R-IL-16] | IL | R | K000378 | 2 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) Expresses the sense of the House of Representatives that the United States should: develop a national policy to encourage the development of tools for consumers to learn and protect their assets in a way that maximizes the promise customized, connected devices hold to empower consumers, foster future economic growth, and create new commerce and markets; prioritize accelerating the development of alternative technologies that support transparency, security, and authentication in a way that recognizes their benefits, allows for future innovation, and responsibly protects consumers' personal information; recognize that technology experts can play an important role in the future development of consumer-facing technology applications for manufacturing, automobiles, telecommunications, tourism, health care, energy, and general commerce; and support further innovation and economic growth and ensure cybersecurity and the protection of consumer privacy. Calls for innovators in technology, manufacturing, automobiles, telecommunications, tourism, health care, and energy industries to commit to improving the quality of life for future generations by developing new technology that is safe and consumer protective and that is aimed at improving consumers' access to commerce. | 2023-01-11T13:33:17Z | |
| 114-s-3215 | 114 | s | 3215 | Home Mortgage Disclosure Adjustment Act | Finance and Financial Sector | 2016-07-14 | 2016-07-14 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Rounds, Mike [R-SD] | SD | R | R000605 | 0 | Home Mortgage Disclosure Adjustment Act This bill amends the Home Mortgage Disclosure Act of 1975 to exempt from maintenance of mortgage loan records and disclosure requirements depository institutions that have originated in each of the two preceding calendar years: fewer than 100 closed-end mortgage loans, and fewer than 200 open-end lines of credit. | 2023-01-11T13:33:13Z | |
| 114-s-3196 | 114 | s | 3196 | Consumer Financial Protection Board Act of 2016 | Finance and Financial Sector | 2016-07-13 | 2016-07-13 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Fischer, Deb [R-NE] | NE | R | F000463 | 3 | Consumer Financial Protection Board Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 by requiring the Consumer Financial Protection Bureau to be managed by a board of directors instead of a director and deputy director. | 2023-01-11T13:33:14Z | |
| 114-hr-5729 | 114 | hr | 5729 | Stop U.S. Support for State Sponsors of Terrorism Act | Finance and Financial Sector | 2016-07-12 | 2016-12-12 | Reported (Amended) by the Committee on Financial Services. H. Rept. 114-866, Part I. | House | Rep. Pittenger, Robert [R-NC-9] | NC | R | P000606 | 0 | Stop U.S. Support for State Sponsors of Terrorism Act (Sec. 2) This bill prohibits the Department of the Treasury from issuing a license for the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran. (Sec. 3) Treasury shall submit an annual report to Congress: stating whether any U.S. financial institution is involved with the sale or lease of commercial passenger aircraft or aircraft spare parts to Iran by a non-U.S. manufacturer, and whether any such involvement is with respect to such aircraft or spare parts comprising 10% or more U.S. content; and containing a description of the risks related to repayment, money laundering, and the financing of terrorism faced by U.S. financial institutions that are involved in such transactions. (Sec. 4) The Export-Import Bank shall report annually to Congress on the use of Bank assistance for such transactions. | 2023-01-11T13:33:25Z | |
| 114-hr-5711 | 114 | hr | 5711 | No U.S. Financing for Iran Act | Finance and Financial Sector | 2016-07-11 | 2016-11-28 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Huizenga, Bill [R-MI-2] | MI | R | H001058 | 1 | No U.S. Financing for Iran Act TITLE I--IRAN FINANCING PROHIBITION (Sec. 101) This bill prohibits the Department of the Treasury from authorizing U.S. financial institution transactions in connection with the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran. (Sec. 102) Any transaction authorized by Treasury before enactment of this bill is revoked. TITLE II--NO EX-IM ASSISTANCE FOR TERRORISM No Ex-Im Assistance for Terrorism Act (Sec. 202) This bill amends the Export-Import Bank Act of 1945 to prohibit the Export-Import Bank from guaranteeing, insuring, extending credit, or participating in the extension of credit in connection with the export of U.S. goods or services sought by: the Government of Iran, an entity owned or controlled by it, an entity created under Iranian law, or a foreign subsidiary of such an entity; an entity involving the Government of Iran, owned or controlled by the Government of Iran, created under Iranian law, or a foreign subsidiary of such an entity; or a non-U.S. entity that, in the last five-years, has leased or sold aircraft to the Government of Iran, or a subsidiary or controlling parent of such a non-U.S. entity. The Bank must cancel approved financing if it finds that such financing has facilitated the export, sale, or lease of an aircraft to the Government of Iran or a related entity and must seek immediate recovery of any amount it has provided in connection with the transaction. TITLE III--SUNSET (Sec. 301) This bill shall cease to be effective 30 days after the President certifies to Congress that the Government of Iran has ceased support for acts of international terrorism. | 2023-01-11T13:33:26Z | |
| 114-hr-5716 | 114 | hr | 5716 | To prohibit the Secretary of the Treasury from issuing certain licenses in connection with the export or re-export of a commercial passenger aircraft to the Islamic Republic of Iran, to require the Secretary of the Treasury to issue an annual report on the status of, and risks related to, U.S. financial institutions involved with the sale or lease of such a commercial passenger aircraft, and for other purposes. | Finance and Financial Sector | 2016-07-11 | 2016-07-11 | Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, 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. Pittenger, Robert [R-NC-9] | NC | R | P000606 | 0 | This bill prohibits the Department of the Treasury from issuing a license for the export or re-export of commercial passenger aircraft to the Islamic Republic of Iran. Treasury shall submit an annual report to Congress: stating whether any U.S. financial institution is involved with the sale or lease of commercial passenger aircraft to Iran by a non-U.S. manufacturer; and containing a description of the risks related to repayment, money laundering, and the financing of terrorism faced by U.S. financial institutions that are involved in such transactions. | 2023-01-11T13:33:26Z | |
| 114-hr-5724 | 114 | hr | 5724 | Protecting Consumers' Access to Credit Act of 2016 | Finance and Financial Sector | 2016-07-11 | 2016-07-11 | Referred to the House Committee on Financial Services. | House | Rep. McHenry, Patrick T. [R-NC-10] | NC | R | M001156 | 0 | Protecting Consumers' Access to Credit Act of 2016 This bill amends the Revised Statutes and the Federal Deposit Insurance Act to state that bank loans that are valid when made as to their maximum rate of interest in accordance with federal law shall remain valid with respect to that rate regardless of whether a bank has subsequently sold or assigned the loan to a third party. (Under these laws, interest may be charged on loans to customers at the greater of: (1) a rate not more than 1% above the discount rate on 90-day commercial paper in effect at the Federal Reserve Bank for the district in which the lender is located, or (2) the highest rate allowed by the laws of the state in which the lender is located.) | 2023-01-11T13:33:25Z | |
| 114-s-3153 | 114 | s | 3153 | TAILOR Act of 2016 | Finance and Financial Sector | 2016-07-11 | 2016-07-11 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Rounds, Mike [R-SD] | SD | R | R000605 | 2 | Taking Account of Institutions with Low Operation Risk Act of 2016 or the TAILOR Act of 2016 This bill requires the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Consumer Financial Protection Bureau, for any rule, regulation, or guidance, to: (1) consider the risk profile and business models of individual financial institutions and those of similar type that are subject to the regulatory action; and (2) tailor the action so that it limits the regulatory impact on an individual or type of institution as is appropriate for the risk profile and business model involved. In carrying out such requirements, each such agency shall consider: whether it is necessary to apply such regulatory action to accomplish policy objectives; the impact of such action on the ability of such institutions to flexibly serve their customers and local markets; the aggregate impact of all applicable regulatory actions on such ability; the potential impact of implementing the action upon efforts to tailor it; and the statutory provision authorizing the action, the congressional intent of such provision, and the policy objectives sought by the agency in implementing it. The bill requires: (1) each such agency to report on the specific actions taken to tailor its regulatory actions pursuant to this bill, and (2) the Federal Financial Institutions Examination Council to report on the extent to which each such agency differs in the treatment of similarly situated institutions. Each agency shall: (1) conduct a review of all final regulations issued pursuant to statutes enacted between July 21, 2010, and the date of this bill's enactment, and (2) apply this bill's requirements to such regulations. | 2023-01-11T13:33:16Z | |
| 114-hr-5660 | 114 | hr | 5660 | Retail Checking Account Protection Act of 2016 | Finance and Financial Sector | 2016-07-07 | 2016-09-27 | Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. | House | Rep. Williams, Roger [R-TX-25] | TX | R | W000816 | 1 | Retail Checking Account Protection Act of 2016 This bill amends the Federal Deposit Insurance Act to provide that the stable retail deposits of an insured depository institution shall not be considered to be funds obtained by or through a deposit broker. Currently, stable retail deposits are considered brokered deposits. As a result, those deposits are subject to restrictions applicable to other brokered deposits, such as prohibitions on undercapitalized banks accepting brokered deposits. This bill would exclude stable retail deposits from those restrictions. | 2023-01-11T13:33:28Z | |
| 114-hr-5664 | 114 | hr | 5664 | Wage and Garnishment Equity Act of 2016 | Finance and Financial Sector | 2016-07-07 | 2016-07-07 | Referred to the House Committee on Financial Services. | House | Rep. Cummings, Elijah E. [D-MD-7] | MD | D | C000984 | 0 | Wage and Garnishment Equity Act of 2016 or the WAGE Act This bill amends the Consumer Credit Protection Act to define "assignment" (of wages and earnings) to exclude payroll deductions or preauthorized payment plans and any assignment applicable only to earnings already earned. The bill adjusts the maximum part of a person's aggregate disposable earnings for any workweek that is subject to garnishment or assignment. Such amount shall not exceed the lesser of: (1) 10% of earnings for an individual earning $1200 or less weekly (15% for an individual earning more than $1200), or (2) the amount by which the earnings exceed 80 (currently, 30) times the federal minimum hourly wage in effect. No employer may take any adverse employment action against an employee because the employee's earnings have been subject to garnishment or assignment. The Department of Labor may provide the same exemption from maximum allowable garnishment requirements for state-regulated assignments as it does for state-regulated garnishments. The bill requires specified delays of garnishment pursuant to an order directed at an employer with fewer than 50 employees. Of the aggregate amount of an individual's funds in deposit accounts, an amount equal to the federal poverty guideline applicable to a one-person household shall be exempt and immune from attachment or seizure for any judgment related to a debt. | 2023-01-11T13:33:28Z | |
| 114-s-3143 | 114 | s | 3143 | WAGE Act | Finance and Financial Sector | 2016-07-07 | 2016-07-07 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Merkley, Jeff [D-OR] | OR | D | M001176 | 0 | Wage and Garnishment Equity Act of 2016 or the WAGE Act This bill amends the Consumer Credit Protection Act to define "assignment" (of wages and earnings) to exclude payroll deductions or preauthorized payment plans and any assignment applicable only to earnings already earned. The bill adjusts the maximum part of a person's aggregate disposable earnings for any workweek that is subject to garnishment or assignment. Such amount shall not exceed the lesser of: (1) 10% of earnings for an individual earning $1200 or less weekly (15% for an individual earning more than $1200), or (2) the amount by which the earnings exceed 80 (currently, 30) times the federal minimum hourly wage in effect. No employer may take any adverse employment action against an employee because the employee's earnings have been subject to garnishment or assignment. The Department of Labor may provide the same exemption from maximum allowable garnishment requirements for state-regulated assignments as it does for state-regulated garnishments. The bill requires specified delays of garnishment pursuant to an order directed at an employer with fewer than 50 employees. Of the aggregate amount of an individual's funds in deposit accounts, $10,000 (as adjusted for inflation every three years) shall be exempt and immune from attachment or seizure for any judgment related to a debt. | 2023-01-11T13:33:16Z | |
| 114-s-3146 | 114 | s | 3146 | Preventing Abandoned Foreclosures and Preserving Communities Act of 2016 | Finance and Financial Sector | 2016-07-07 | 2016-07-07 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Menendez, Robert [D-NJ] | NJ | D | M000639 | 3 | Preventing Abandoned Foreclosures and Preserving Communities Act of 2016 This bill amends the Real Estate Settlement Procedures Act of 1974 to require a servicer of a federally related or federally backed mortgage loan to provide, with respect to foreclosure proceedings, specified notice to the borrower and applicable taxing district. Unless specified requirements are met, a servicer of a loan insured by the Federal Housing Administration and backed by either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) may not abandon an initiated foreclosure. The Consumer Financial Protection Bureau must establish a database of abandoned foreclosures. The Government Accountability Office shall conduct a study on abandoned foreclosures. | 2023-01-11T13:33:16Z | |
| 114-s-3118 | 114 | s | 3118 | Derivatives Oversight and Taxpayer Protection Act | Finance and Financial Sector | 2016-06-29 | 2016-06-29 | Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. | Senate | Sen. Warren, Elizabeth [D-MA] | MA | D | W000817 | 1 | Derivatives Oversight and Taxpayer Protection Act This bill amends the Commodity Exchange Act (CEA) to require the Commodity Futures Trading Commission (CFTC) to collect fees to recover the costs of its regulatory services and its annual appropriation from Congress. The bill increases penalties for CEA violations, removes the Department of the Treasury's authority to exempt foreign exchange swaps or forwards from CFTC regulation, and requires collection of margin on inter-affiliate swaps. Swaps requirements enacted by the Wall Street Transparency and Accountability Act of 2010 that ordinarily do not apply to activities outside the United States are made applicable to swaps transactions in which a financial entity domiciled or organized in the United States bears swaps-related risks. But the CFTC may allow a swaps transaction involving a subsidiary entity that is majority owned or controlled by a financial entity domiciled or organized in the United States to be conducted under a foreign jurisdiction's rules and oversight if the foreign rules are no less stringent than U.S. rules. The CFTC must: (1) make data concerning swap data repository registrations available to other financial regulatory agencies, and (2) revoke the license of swap dealers that the CFTC and the Securities and Exchange Commission have found are not providing accurate data in standardized formats that allow aggregated analysis by regulators. The bill repeals a safe harbor provision under federal bankruptcy law that protects a contractual right to liquidate the amount due on a swap agreement because of a debtor's bankruptcy case. The removal of this safe harbor subjects swap agreements to the regular bankruptcy procedures that automatically stay claims against a debtor. The bill amends the Financial Stability Act of 2010 to require Federal Reserve Board (FRB) risk-based capital requirements and leverage limits for nonbank financial companies supervised by the FRB and bank holding companies with total consolidated assets of $50 billion or more… | 2023-01-11T13:32:37Z | |
| 114-hr-5592 | 114 | hr | 5592 | Derivatives Oversight and Taxpayer Protection Act | Finance and Financial Sector | 2016-06-28 | 2016-07-14 | Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. | House | Rep. Cummings, Elijah E. [D-MD-7] | MD | D | C000984 | 1 | Derivatives Oversight and Taxpayer Protection Act This bill amends the Commodity Exchange Act (CEA) to require the Commodity Futures Trading Commission (CFTC) to collect fees to recover the costs of its regulatory services and its annual appropriation from Congress. The bill increases penalties for CEA violations, removes the Department of the Treasury's authority to exempt foreign exchange swaps or forwards from CFTC regulation, and requires collection of margin on inter-affiliate swaps. Swaps requirements enacted by the Wall Street Transparency and Accountability Act of 2010 that ordinarily do not apply to activities outside the United States are made applicable to swaps transactions in which a financial entity domiciled or organized in the United States bears swaps-related risks. But the CFTC may allow a swaps transaction involving a subsidiary entity that is majority owned or controlled by a financial entity domiciled or organized in the United States to be conducted under a foreign jurisdiction's rules and oversight if the foreign rules are no less stringent than U.S. rules. The CFTC must: (1) make data concerning swap data repository registrations available to other financial regulatory agencies, and (2) revoke the license of swap dealers that the CFTC and the Securities and Exchange Commission have found are not providing accurate data in standardized formats that allow aggregated analysis by regulators. The bill repeals a safe harbor provision under federal bankruptcy law that protects a contractual right to liquidate the amount due on a swap agreement because of a debtor's bankruptcy case. The removal of this safe harbor subjects swap agreements to the regular bankruptcy procedures that automatically stay claims against a debtor. The bill amends the Financial Stability Act of 2010 to require Federal Reserve Board (FRB) risk-based capital requirements and leverage limits for nonbank financial companies supervised by the FRB and bank holding companies with total consolidated assets of $50 billion or more… | 2023-01-11T13:32:43Z | |
| 114-hr-5594 | 114 | hr | 5594 | National Strategy for Combating Terrorist, Underground, and Other Illicit Financing Act | Finance and Financial Sector | 2016-06-28 | 2016-07-12 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Fitzpatrick, Michael G. [R-PA-8] | PA | R | F000451 | 23 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) National Strategy for Combating Terrorist, Underground, and Other Illicit Financing Act (Sec. 3) This bill directs the President, acting through the Department of the Treasury, to develop a national strategy for combating the financing of terrorism and related forms of illicit finance. (Sec. 4) The national strategy shall focus upon selected aspects, including: (1) threats, goals, objectives, and priorities; (2) coordination with domestic and international governmental entities; (3) the role of the private financial sector in prevention of illicit finance; (4) project and budget priorities; (5) the use and role of Treasury attaches; (6) illicit finance and cyber crime; and (7) technology. | 2023-01-11T13:32:43Z | |
| 114-hr-5596 | 114 | hr | 5596 | Municipal Advisor Choice Act | Finance and Financial Sector | 2016-06-28 | 2016-06-28 | Referred to the House Committee on Financial Services. | House | Rep. Hultgren, Randy [R-IL-14] | IL | R | H001059 | 0 | Municipal Advisor Choice Act This bill amends the Securities Exchange Act of 1934 to provide that an issuer of municipal securities is not required to retain a municipal advisor prior to issuing securities. | 2023-01-11T13:32:43Z | |
| 114-hr-5598 | 114 | hr | 5598 | Plymouth 400th Anniversary Commemorative Coin Act of 2016 | Finance and Financial Sector | 2016-06-28 | 2016-06-28 | Referred to the House Committee on Financial Services. | House | Rep. Keating, William R. [D-MA-9] | MA | D | K000375 | 55 | Plymouth 400th Anniversary Commemorative Coin Act of 2016 This bill directs the Department of the Treasury to issue up to 100,000 $5 gold coins, 500,000 $1 silver coins, and 750,000 half-dollar clad coins emblematic of the landing and settlement of Plymouth Colony, Massachusetts, the signing of the Mayflower Compact, and the role of the indigenous Wampanoag tribes in the realization of the settlement. These coins may be issued only during a two-year period beginning January 1, 2020. Sales of such coins shall include specified surcharges, which shall be paid by Treasury as follows: 50% to Plymouth 400, Inc., to support the its work to develop, implement, and provide oversight for the commemorations surrounding the events of 2020-2021 and to be distributed, at the organization's discretion, to local historical preservation and cultural organizations to support their work in educating the public about the settlement of 1620 and their continued existence for the benefit of future generations; 15% to Plimoth Plantation to support its effort to maintain the replica of the 1627 Plantation, the Mayflower II, and the replica of the Wampanoag Village; 15% to a Wampanoag tribal organization to continue programs to educate people about the life of the Wampanoag people prior to the Plymouth settlement and their interactions with the settlers; 10% to the General Society of Mayflower Descendants to support the continued restoration of the main facility in Plymouth, to provide funding for its research library at that site, and for educational purposes; and 10% to the Pilgrim Society to continue its work in displaying the story of the settlement and settlement artifacts. | 2023-01-11T13:32:42Z | |
| 114-hr-5602 | 114 | hr | 5602 | To amend title 31, United States Code, to authorize the Secretary of the Treasury to include all funds when issuing certain geographic targeting orders, and for other purposes. | Finance and Financial Sector | 2016-06-28 | 2016-12-12 | Message on Senate action sent to the House. | House | Rep. Lynch, Stephen F. [D-MA-8] | MA | D | L000562 | 14 | TITLE I--ENHANCING ANTITERRORISM TOOLS OF THE DEPARTMENT OF THE TREASURY (Sec. 101) This bill revises the authority of the Department of the Treasury to issue an order imposing recordkeeping and reporting requirements upon financial institutions and nonfinancial trade or business groups in certain geographic areas regarding transactions for the payment, receipt, or transfer of U.S. coins or currency (or other monetary instruments as Treasury may describe in an order). A Treasury order for recordkeeping and reporting may include all funds (not just U.S. coins or currency) involved in such transactions. (Sec. 102) To improve the tracking of cross-border fund transfers and identify forms of terrorist financing, Treasury must report on: (1) the efficacy of requiring banking regulators to establish a pilot program to provide technical assistance to depository institutions and credit unions that wish to provide account services to money services businesses serving individuals in Somalia; (2) whether the pilot program could improve the ability of U.S. persons to make legitimate funds transfers through transparent monitored channels while complying with the Bank Secrecy Act and controls aimed at stopping money laundering and the financing of terrorism; and (3) information sharing mechanisms for depository institutions and credit unions to understand whether an individual money services business is meeting its obligations to combat illicit finance. (Sec. 103) The bill expresses the sense of Congress that the Under Secretary for Terrorism and Financial Crimes should help foreign partners integrate intelligence analytic capacities with anti-money laundering and counter-terrorist financing regimes. (Sec. 104) Treasury must report on the role of its financial attaches and technical advisors at U.S. embassies and their resources to assist in countering terrorist financing and money laundering. TITLE II--NATIONAL STRATEGY FOR COMBATING TERRORIST AND OTHER ILLICIT FINANCING (Sec. 201) Treasury must develop a national strategy w… | 2023-01-11T13:32:42Z | |
| 114-hr-5603 | 114 | hr | 5603 | Kleptocracy Asset Recovery Rewards Act | Finance and Financial Sector | 2016-06-28 | 2016-06-28 | Referred to the House Committee on Financial Services. | House | Rep. Lynch, Stephen F. [D-MA-8] | MA | D | L000562 | 14 | Kleptocracy Asset Recovery Rewards Act This bill establishes in the Department of the Treasury a Kleptocracy Asset Recovery Rewards Program for the payment of rewards to support U.S. government programs and investigations aimed at eliminating from accounts at U.S. financial institutions any stolen assets linked to foreign government corruption and the proceeds of such corruption. Treasury may pay a reward to any individual who furnishes information leading to the restraining, seizure, forfeiture, or repatriation of stolen assets in an account at a U.S. financial institution, that come within the United States, or that come within the possession or control of any U.S. person linked to foreign government corruption. U.S. or foreign government employees are not eligible for such a reward. Treasury shall: (1) establish procedures for the offering, administration, and payment of such rewards in order to ensure that the payment of rewards pursuant to this bill does not duplicate or interfere with any other payment authorized by the Department of Justice (DOJ) or other federal law enforcement agencies for the obtaining of information or other evidence; and (2) obtain the written concurrence of DOJ before making such a reward under this bill in a matter over which there is federal criminal jurisdiction. Such rewards shall be paid from the Department of the Treasury Forfeiture Fund. The total amount of rewards paid may not exceed $25 million in any calendar year. The President may waive such limitation after providing prior notice to Congress. No single reward may exceed $5 million, except as Treasury determines necessary in exceptional cases. Treasury may reduce or deny awards to individuals claiming awards who were involved in actions leading to the misappropriation or diversion of stolen assets or other foreign government corruption. Treasury shall: (1) report annually regarding stolen assets, and (2) report describing policy choices for the disposition of recovered stolen assets. | 2023-01-11T13:32:42Z | |
| 114-hr-5606 | 114 | hr | 5606 | Anti-terrorism Information Sharing Is Strength Act | Finance and Financial Sector | 2016-06-28 | 2016-07-11 | On motion to suspend the rules and pass the bill Failed by the Yeas and Nays: (2/3 required): 229 - 177 (Roll no. 403). | House | Rep. Pittenger, Robert [R-NC-9] | NC | R | P000606 | 11 | Anti-terrorism Information Sharing Is Strength Act This bill amends the USA PATRIOT Act to allow two or more financial institutions and any association of financial institutions, upon notice provided to the Department of the Treasury, to share information with one another regarding individuals, entities, organizations, and countries suspected of the unlawful activity the proceeds of which form the basis of a money laundering offense. A financial institution or association that transmits, receives, or shares such information to identify and report this activity shall not be liable to any person for such disclosure or for any failure to provide notice of it to the subject, or any other person identified in the disclosure, except where the transmission, receipt, or sharing violates the Act or regulations promulgated under it. The bill expresses the sense of Congress concerning the need for federal law enforcement agencies and regulators, as well as financial institutions, to share information about terrorist activities, money laundering activities, and unlawful activities to the fullest extent possible and in a timely fashion. | 2023-01-11T13:32:42Z | |
| 114-hr-5607 | 114 | hr | 5607 | Enhancing Treasury's Anti-Terror Tools Act | Finance and Financial Sector | 2016-06-28 | 2016-07-12 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Pittenger, Robert [R-NC-9] | NC | R | P000606 | 11 | Enhancing Treasury's Anti-Terror Tools Act (Sec. 2) This bill instructs the Department of the Treasury to report to Congress on the employment by U.S. embassies of full-time and temporary Treasury attaches and their role in advancing U.S. anti-terrorism financing interests, including concerning: how Treasury's interests relating to anti-terror finance, money laundering, and related illicit finance issues are handled at other embassies; issues identified by Treasury attaches concerning anti-terror finance, money laundering, and related illicit finance; recommendations to improve coordination between Treasury and foreign financial ministries of efforts to block the financing of terror, money laundering, and related illicit finance; and whether Treasury's interests relating to anti-terror finance, money laundering, or related illicit finance issues are thought to be underrepresented in some embassies or regions. (Sec. 3) The bill revises Treasury's authority to issue an order imposing recordkeeping and reporting requirements upon financial institutions and nonfinancial trade or business groups in certain geographic areas regarding transactions for the payment, receipt, or transfer of U.S. coins or currency (or other monetary instruments as Treasury may describe). Such an order may include all funds, not just U.S. coins or currency, involved in such transactions. (Sec. 4) Treasury shall study: the advisability and implications of transforming the Office of Terrorism and Financial Intelligence into a stand-alone bureau of Treasury, the potential efficacy of requiring banking regulators to establish a pilot technical assistance program for depository institutions and credit unions that furnish account services to money services businesses serving individuals in Somalia and whether it could improve the ability of Americans to legitimately send funds through transparent and easily monitored channels, and the potential impact of allowing money services businesses to share their state examinations with deposito… | 2023-01-11T13:32:42Z | |
| 114-s-3105 | 114 | s | 3105 | Plymouth 400th Anniversary Commemorative Coin Act of 2016 | Finance and Financial Sector | 2016-06-28 | 2016-06-28 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Markey, Edward J. [D-MA] | MA | D | M000133 | 1 | Plymouth 400th Anniversary Commemorative Coin Act of 2016 This bill directs the Department of the Treasury to issue up to 100,000 $5 gold coins, 500,000 $1 silver coins, and 750,000 half-dollar clad coins emblematic of the landing and settlement of Plymouth Colony, Massachusetts, the signing of the Mayflower Compact, and the role of the indigenous Wampanoag tribes in the realization of the settlement. These coins may be issued only during a two-year period beginning January 1, 2020. Sales of such coins shall include specified surcharges, which shall be paid by Treasury as follows: 50% to Plymouth 400, Inc., to support the its work to develop, implement, and provide oversight for the commemorations surrounding the events of 2020-2021 and to be distributed, at the organization's discretion, to local historical preservation and cultural organizations to support their work in educating the public about the settlement of 1620 and their continued existence for the benefit of future generations; 15% to Plimoth Plantation to support its effort to maintain the replica of the 1627 Plantation, the Mayflower II, and the replica of the Wampanoag Village; 15% to a Wampanoag tribal organization to continue programs to educate people about the life of the Wampanoag people prior to the Plymouth settlement and their interactions with the settlers; 10% to the General Society of Mayflower Descendants to support the continued restoration of the main facility in Plymouth, to provide funding for its research library at that site, and for educational purposes; and 10% to the Pilgrim Society to continue its work in displaying the story of the settlement and settlement artifacts. | 2023-01-11T13:32:37Z | |
| 114-s-3092 | 114 | s | 3092 | Fair Access to Investment Research Act of 2016 | Finance and Financial Sector | 2016-06-23 | 2016-06-23 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Heller, Dean [R-NV] | NV | R | H001041 | 2 | Fair Access to Investment Research Act of 2016 This bill directs the Securities and Exchange Commission (SEC) to revise a specified regulation to create a safe harbor for certain publications or distributions of research reports by brokers or dealers distributing securities. The revised regulation shall declare that a published or distributed investment fund research report shall not be deemed to constitute an offer for sale or an offer to sell a security that is the subject of the offering pursuant to an effective registration statement, even if the broker or dealer is participating or will participate in the registered offering of the covered investment fund's securities. The covered investment fund research report shall indeed be deemed to satisfy the regulation's requirements as well as those of any self-regulatory organization. The SEC shall not impose specified conditions and requirements when implementing the safe harbor. Until the SEC has adopted such safe harbor revisions, and the Financial Industry Regulatory Authority (FINRA) has revised a related rule, a covered investment fund shall be deemed to be a security listed on a national securities exchange that is not subject to a certain filing requirement of the Investment Company Act of 1940. | 2023-01-11T13:32:38Z | |
| 114-hr-5569 | 114 | hr | 5569 | To amend the Consumer Financial Protection Act of 2010 to repeal the authority of the Bureau of Consumer Financial Protection to restrict arbitration, and for other purposes. | Finance and Financial Sector | 2016-06-22 | 2016-06-22 | Referred to the House Committee on Financial Services. | House | Rep. Stutzman, Marlin A. [R-IN-3] | IN | R | S001188 | 0 | This bill amends the Consumer Financial Protection Act of 2010 to repeal the authority of the Consumer Financial Protection Bureau to restrict the use of an agreement between a financial product or service provider and a consumer providing for arbitration of any future dispute between the parties. | 2023-01-11T13:32:43Z | |
| 114-hr-5541 | 114 | hr | 5541 | Financial Services for the Underserved Act of 2016 | Finance and Financial Sector | 2016-06-21 | 2016-06-21 | Referred to the House Committee on Financial Services. | House | Rep. Ryan, Tim [D-OH-13] | OH | D | R000577 | 1 | Financial Services for the Underserved Act of 2016 This bill amends the Federal Credit Union Act to revise the requirements for allowing a federal credit union to extend its field of membership in an underserved area. The credit union must be well capitalized or adequately capitalized, and within 24 months after approval by the National Credit Union Administration (NCUA) it must have established and maintained an ongoing method to provide services in the local community, neighborhood, or rural district. (The current requirement is that the credit union must, without a deadline, establish and maintain an office or facility in the local community, neighborhood, or rural district at which credit union services are available.) Any failure of a federal credit union to meet the latter requirement by the end of the 24-month period shall constitute a termination, as a matter of law, of NCUA approval of its application regarding the credit union's membership. Any federal credit union with an approved application for an underserved area must report annually to the NCUA on the number of: credit union members who are members by reason of that application; and offices or facilities maintained by the credit union in the local community, neighborhood, or rural district taken into account by the NCUA in approving the application. The bill defines "underserved area" generally as a geographic area consisting of a single census tract or a group of census tracts, each of which meets the criteria for a low-income community or is underserved by other depository institutions, based on data of the NCUA and the federal banking agencies. | 2023-01-11T13:32:44Z | |
| 114-hr-5552 | 114 | hr | 5552 | ACCESS Act of 2016 | Finance and Financial Sector | 2016-06-21 | 2016-06-21 | Referred to the House Committee on Financial Services. | House | Rep. Tipton, Scott R. [R-CO-3] | CO | R | T000470 | 2 | Accounting for Consumer Credit and Encouraging State Solutions Act of 2016 or the ACCESS Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to require the Consumer Financial Protection Bureau (CFPB) to grant to a state or federally recognized Indian tribe that submits a written request a five-year waiver from a final rule or regulation issued by the CFPB to regulate payday loans, vehicle title loans, or other similar loans. The state or tribe receiving a waiver shall have the right to an unlimited number of five-year extensions of such waiver. | 2023-01-11T13:32:44Z | |
| 114-hr-5553 | 114 | hr | 5553 | To amend the Securities Exchange Act of 1934 to require fines collected for violations of the rules of the Municipal Rulemaking Board to be deposited into the Treasury and to amend the Sarbanes-Oxley Act of 2002 to remove a requirement on the use of certain funds. | Finance and Financial Sector | 2016-06-21 | 2016-06-21 | Referred to the House Committee on Financial Services. | House | Rep. Wagner, Ann [R-MO-2] | MO | R | W000812 | 0 | This bill amends the Securities Exchange Act of 1934 to declare that fines collected for violations of the rules of the Municipal Securities Rulemaking Board shall be deposited and credited as general revenue of the Treasury. Currently such fines must be be equally divided between the board and the Securities and Exchange Commission. The bill repeals the requirement that any such fines collected by a registered securities association be accounted for by the association separately from certain other fines collected and be allocated two-thirds to the association and one-third to the board. The Sarbanes-Oxley Act of 2002 is amended to repeal the requirement for the Public Company Accounting Oversight Board to use funds generated from the collection of monetary penalties for a merit scholarship program for undergraduate and graduate students enrolled in accredited accounting degree programs. | 2023-01-11T13:32:44Z | |
| 114-hr-5505 | 114 | hr | 5505 | GSE Review and Reform Act of 2016 | Finance and Financial Sector | 2016-06-16 | 2016-06-16 | Referred to the House Committee on Financial Services. | House | Rep. Hill, J. French [R-AR-2] | AR | R | H001072 | 0 | GSE Review and Reform Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to require the Department of the Treasury to make annual studies (currently, just one) of specified options for ending the conservatorship of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), while minimizing the cost to taxpayers. | 2023-01-11T13:32:46Z | |
| 114-hr-5511 | 114 | hr | 5511 | Equal Access to Banking Act | Finance and Financial Sector | 2016-06-16 | 2016-06-16 | Referred to the House Committee on Financial Services. | House | Rep. Delaney, John K. [D-MD-6] | MD | D | D000620 | 1 | Equal Access to Banking Act This bill requires the Federal Deposit Insurance Corporation (FDIC) to issue regulations: (1) easing the restrictive impact of regulations issued pursuant to the Federal Deposit Insurance Act relating to the factors to be considered for deposit insurance on non-profit community development financial institution banks, and (2) easing restrictions on the operation of such banks insured by the FDIC. The FDIC shall ensure that such regulations issued under this bill: (1) will not provide an opportunity for individuals or for-profit financial institutions to avoid taxation or other requirements related to deposit insurance, and (2) allow charitable contributions and grants to such banks. The FDIC shall terminate the deposit insurance of such a bank if the bank loses its certification as a community development financial institution. The bill defines a "non-profit community development financial institution bank" as a non-profit depository institution that: (1) is certified as a community development financial institution by the Community Development Financial Institutions Fund, and (2) serves low-income and moderate-income customers. | 2023-01-11T13:32:46Z | |
| 114-hr-5521 | 114 | hr | 5521 | RIGHTS at the CFPB Act of 2016 | Finance and Financial Sector | 2016-06-16 | 2016-06-16 | Referred to the House Committee on Financial Services. | House | Rep. Messer, Luke [R-IN-6] | IN | R | M001189 | 0 | Reigning In of Governmental Hostility To Sovereignty at the CFPB Act of 2016 or the RIGHTS at the CFPB Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to authorize any person who is a party to an adjudicative administrative proceeding brought by the Consumer Financial Protection Bureau (CFPB), and against whom an order imposing a cease and desist order or a penalty may be issued at the proceeding's conclusion, to require the CFPB to terminate the proceeding. The termination request must be made within 20 days after the person receives notice of the proceeding. If such a person does require the CFPB to terminate a proceeding, the CFPB may still bring a civil action against the person for the same remedy that might be imposed. | 2023-01-11T13:32:45Z | |
| 114-hr-5522 | 114 | hr | 5522 | To amend the Consumer Financial Protection Act of 2010 to require that civil investigative demands be appealed to courts, and for other purposes. | Finance and Financial Sector | 2016-06-16 | 2016-06-16 | Referred to the House Committee on Financial Services. | House | Rep. Pearce, Stevan [R-NM-2] | NM | R | P000588 | 0 | This bill amends the Consumer Financial Protection Act of 2010 regarding civil investigative demands made by the Consumer Financial Protection Bureau (CFPB) on a person in the course of an investigation. (Under current law, the CFPB may, before institution of any proceedings, serve a civil investigative demand on a person the CFPB has reason to believe may be in possession, custody, or control of any documentary material or tangible things, or may have any information, relevant to a violation of federal consumer financial law.) The bill requires the recipient of such a demand to meet and confer with a CFPB investigator within 30 calendar days after receiving the demand to discuss and attempt to resolve all issues regarding compliance with it, unless the CFPB grants an extension the recipient requests. The deadline after the service of any civil investigative demand by which the recipient may petition for an order modifying or setting the demand aside shall extend from the current maximum of 20 days to a maximum of 45 days. The bill eliminates the right to appeal any final order of a U.S. district court regarding such a petition. | 2023-01-11T13:32:45Z | |
| 114-hr-5527 | 114 | hr | 5527 | CFPB Rule Accountability Act of 2016 | Finance and Financial Sector | 2016-06-16 | 2016-06-16 | Referred to the Committee on Financial Services, and in addition to the Committees on Rules, and the Budget, 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. Williams, Roger [R-TX-25] | TX | R | W000816 | 2 | CFPB Rule Accountability Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to require the Consumer Financial Protection Bureau (CFPB), before any federal agency rule may take effect, to publish in the Federal Register a list of information on which the rule is based, including data, scientific and economic studies, and cost-benefit analyses, identify how the public can access such information online, and report to Congress and to the Government Accountability Office a classification of the rule as a major or nonmajor rule. Congress must enact a joint resolution of approval of major rules before they may take effect. If a joint resolution of approval is not enacted by the end of 70 session days or legislative days, as applicable, after the CFPB reports on the rule to Congress, the major rule shall be deemed not to be approved and shall not take effect. A major rule may take effect, however, for one 90-calendar day period without such approval if the President determines it is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement. The bill prescribes the congressional approval procedure for major rules and the congressional disapproval procedure for nonmajor rules. A joint resolution addressing a report classifying a rule as a major rule must be introduced within three legislative days in the House of Representative and three session days in the Senate. No amendments to such a joint resolution shall be permitted at any stage of the legislative process. The bill prescribes a procedure for expedited consideration of a joint resolution of approval, requiring a vote on the resolution in the Senate within 15 session days after it is reported by the committee to which it was referred, or after the committee has been discharged from further consideration of it. A court may review whether an agency has completed the necessary requirements under this bill for a rul… | 2023-01-11T13:32:45Z | |
| 114-hr-5490 | 114 | hr | 5490 | To amend the Consumer Financial Protection Act of 2010 to require that no deference be given to the interpretation of consumer financial law by the Bureau of Consumer Financial Protection, to define the scope of judicial review of Bureau actions, and for other purposes. | Finance and Financial Sector | 2016-06-15 | 2016-07-20 | Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. | House | Rep. Love, Mia B. [R-UT-4] | UT | R | L000584 | 0 | This bill amends the Consumer Financial Protection Act of 2010 to repeal the declaration that the deference that a court affords to the Consumer Financial Protection Bureau (CFPB) regarding its determination of the meaning or interpretation of any provision of a federal consumer financial law shall be applied as if the CFPB were the only agency authorized to apply, enforce, interpret, or administer the provisions of that law. In any judicial review of a CFPB agency action, the reviewing court shall determine the meaning or applicability of the terms of a CFPB agency action and decide de novo all relevant questions of law, including the interpretation of constitutional and statutory provisions, as well as CFPB rules. No law may exempt any civil action for judicial review from the application of this bill except by specific reference to it. | 2023-01-11T13:32:46Z | |
| 114-hr-5491 | 114 | hr | 5491 | To require the Director of the Bureau of Consumer Financial Protection to verify the accuracy of consumer complaint information before making such information available to the public. | Finance and Financial Sector | 2016-06-15 | 2016-06-15 | Referred to the House Committee on Financial Services. | House | Rep. Mulvaney, Mick [R-SC-5] | SC | R | M001182 | 0 | This bill amends the Consumer Financial Protection Act of 2010 to require the Consumer Financial Protection Bureau to verify the accuracy of information in its consumer complaint database before making it available to the public. | 2023-01-11T13:32:46Z | |
| 114-hr-5465 | 114 | hr | 5465 | To repeal section 1075 of the Consumer Financial Protection Act of 2010 relating to rules for payment card transactions, and for other purposes. | Finance and Financial Sector | 2016-06-14 | 2016-06-14 | Referred to the House Committee on Financial Services. | House | Rep. Neugebauer, Randy [R-TX-19] | TX | R | N000182 | 2 | This bill: (1) repeals provisions of the Consumer Financial Protection Act of 2010 that amended the Electronic Fund Transfer Act to authorize the Consumer Financial Protection Bureau to prescribe regulations governing interchange transaction fees for electronic debit transactions, and (2) restores the law amended by such provisions as if they had not been enacted. | 2023-01-11T13:32:47Z | |
| 114-hr-5461 | 114 | hr | 5461 | Iranian Leadership Asset Transparency Act | Finance and Financial Sector | 2016-06-13 | 2016-09-22 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Poliquin, Bruce [R-ME-2] | ME | R | P000611 | 1 | Iranian Leadership Asset Transparency Act (Sec. 3) This bill requires the Department of the Treasury, in furtherance of efforts to prevent the financing of terrorism, money laundering, or related illicit finance and to make financial institutions' required compliance with remaining sanctions more easily understood, to submit within 270 days and annually thereafter for the next two years a report regarding: the funds or assets held in U.S. and foreign financial institutions that are directly or indirectly controlled by specified Iranian officials; any equity stake such official has in an entity on Treasury's list of Specially Designated Nationals or in any other sanctioned entity; how such funds, assets, or equity interests were acquired and used; new methods used to evade anti-money laundering and related laws, including recommendations to improve techniques to combat illicit uses of the U.S. financial system by each such official. recommendations for revising U.S. economic sanctions against Iran to prevent Iranian officials from using funds or assets to develop and procure ballistic missile technology; how Treasury assesses the effectiveness of U.S. economic sanctions against Iran; and recommendations for improving Treasury's ability to develop and enforce additional economic sanctions against Iran if so ordered by the President. The unclassified portion of the report shall be made available to the public and posted on Treasury's website in downloadable English, Farsi, Arabic, and Azeri versions. | 2023-01-11T13:32:47Z | |
| 114-hr-5453 | 114 | hr | 5453 | Bureau Advisory Opinion Act of 2016 | Finance and Financial Sector | 2016-06-10 | 2016-06-10 | Referred to the House Committee on Financial Services. | House | Rep. Posey, Bill [R-FL-8] | FL | R | P000599 | 1 | Bureau Advisory Opinion Act of 2016 This bill amends the Consumer Financial Protection Act of 2010 to require the Consumer Financial Protection Bureau (CFPB) to establish a procedure and promulgate rules to provide written opinions in response to inquiries concerning conformance of specific proposed or prospective conduct by a covered person with federal consumer financial law. A "covered person" under the Act is: (1) any person that engages in offering or providing a consumer financial product or service, and (2) any affiliate of that person if the affiliate acts as a service provider to the person. The CFPB, within 90 days of receiving such a request for an opinion, shall: issue an opinion stating whether the described conduct would violate federal consumer financial law, deny the request, or explain why it is not feasible to issue an opinion. The CFPB shall not issue an opinion on a general question of interpretation, a hypothetical situation, conduct of someone other than the requester, or past conduct the covered person doesn't plan to continue. A request may be withdrawn at any time prior to the CFPB issuing a response. An issued advisory opinion may be amended or revoked at any time. An opinion rendered pursuant to this bill shall be placed in the CFPB's public record 90 days after the requesting party has received the advice, subject to specified limitations on public disclosure. Any person may rely on an opinion issued by the CFPB that has not been amended or withdrawn and liability shall not attach to conduct consistent with such opinion. The CFPB shall implement a system to charge a fee for such inquiries sufficient to pay the costs of carrying out this bill. | 2023-01-11T13:32:48Z | |
| 114-hr-5455 | 114 | hr | 5455 | Protecting Consumer Financial Information Act | Finance and Financial Sector | 2016-06-10 | 2016-06-10 | Referred to the House Committee on Financial Services. | House | Rep. Westmoreland, Lynn A. [R-GA-3] | GA | R | W000796 | 1 | Protecting Consumer Financial Information Act This bill amends the Consumer Financial Protection Act of 2010 to limit the authority of the Consumer Financial Protection Bureau (CFPB), in conducting any required monitoring or assessment, to gather information from time to time regarding the organization, business conduct, markets, and activities of covered persons and service providers. The CFPB may gather information only on a sampling basis. The bill repeals CFPB authority to gather and compile information from examination reports concerning covered persons or service providers. It also prohibits the CFPB from using its authorities to obtain records from covered persons and service providers participating in consumer financial services markets for purposes of assessing their compliance with the requirements of federal consumer financial law. The bill also repeals the CFPB: mandate to require reports and conduct periodic examinations of nondepository covered persons for purposes of detecting and assessing risks to consumers and to markets for consumer financial products and services, exclusive authority and mandate to require reports and conduct periodic examinations for the same purposes of insured depository institutions and insured credit unions with over $10 billion in assets (and their affiliates), and authority to require reports and conduct periodic examinations for the same purposes of insured depository institutions and insured credit unions with $10 billion or less in assets. | 2023-01-11T13:32:48Z | |
| 114-hr-5419 | 114 | hr | 5419 | Credit Union Examination Reform Act of 2016 | Finance and Financial Sector | 2016-06-09 | 2016-06-09 | Referred to the House Committee on Financial Services. | House | Rep. Guinta, Frank C. [R-NH-1] | NH | R | G000570 | 0 | Credit Union Examination Reform Act of 2016 This bill amends the Federal Credit Union Act to permit an examination to be carried out only once every 18 months of a federal credit union or an insured credit union that: has total assets of less than $1 billion; is well capitalized (or adequately capitalized, in the case of an insured credit union); was found in its most recent examination to be well managed, with a composite rating (under the Uniform Financial Institutions Rating System) of 1, in the case of a credit union that has total assets of more than $200 million, or 1 or 2, in the case of a credit union that has total assets of $200 million or less; and is not currently subject to a formal enforcement proceeding or order by the National Credit Union Administration (NCUA). Such limitation shall not apply if the NCUA determines that such a credit union: (1) should be examined more often because of safety and soundness concerns, or (2) has violated the law. The NCUA shall issue a report on how this bill affects its budget. | 2023-01-11T13:32:49Z | |
| 114-hr-5421 | 114 | hr | 5421 | National Securities Exchange Regulatory Parity Act of 2016 | Finance and Financial Sector | 2016-06-09 | 2016-07-13 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Royce, Edward R. [R-CA-39] | CA | R | R000487 | 1 | National Securities Exchange Regulatory Parity Act of 2016 (Sec. 2) This bill amends the Securities Act of 1933, regarding the exemption of certain securities from state regulation, to replace limitations based upon listing on specific stock exchanges with a general exemption from state regulation of any securities listed on a national exchange whose listing standards are approved by the Securities and Exchange Commission (SEC), consistent with SEC rules that establish minimum core quantitative listing standards. | 2023-01-11T13:32:49Z | |
| 114-hr-5424 | 114 | hr | 5424 | Investment Advisers Modernization Act of 2016 | Finance and Financial Sector | 2016-06-09 | 2016-09-12 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Hurt, Robert [R-VA-5] | VA | R | H001060 | 5 | Investment Advisers Modernization Act of 2016 This bill directs the Securities and Exchange Commission (SEC) to amend specified regulations for investment advisers as they apply to private equity firms and private investment funds. (Sec. 2) The bill revises the disclaimer that, in the case of an investment adviser that is a partnership, an assignment shall not be deemed to result from the death, withdrawal, sale or transfer of minority interests to apply the disclaimer also to minority members, shareholders, for other equity owners of the investment adviser. Qualified clients of an investment adviser may consent to an assignment of the investment adviser contract at the time they enter into an advisory contract. The Investment Advisers Act of 1940 is amended to repeal the requirement that advisers organized as partnerships notify the other party to an investment adviser contract every time there is a change in the composition of the partnership. The SEC shall waive the application of specified antifraud prohibitions to advisers who advertise exclusively to: qualified clients, determined as of the time of the publication, circulation, or distribution of the advertisement rather than immediately before or after entering into the investment advisory contract; knowledgeable employees of any private fund to which the investment adviser acts as an investment adviser; qualified purchasers; or accredited investors (determined as if the investment adviser were the securities issuer and the time of the publication, circulation, or distribution of the advertisement were the sale of such securities). (Sec. 3) The SEC must amend a certain regulation regarding Form PF which registered investment advisers with at least $150 million in private funds assets under management must file with the SEC to report information about the private funds that they manage. This amendment shall state that an investment adviser to a private fund is not required to report any information beyond that which is required by sections 1a and 1b of F… | 2023-01-11T13:32:49Z | |
| 114-hr-5429 | 114 | hr | 5429 | SEC Regulatory Accountability Act | Finance and Financial Sector | 2016-06-09 | 2016-09-28 | Placed on the Union Calendar, Calendar No. 622. | House | Rep. Garrett, Scott [R-NJ-5] | NJ | R | G000548 | 2 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) SEC Regulatory Accountability Act This bill amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC), before issuing a regulation under the securities laws, to: identify the nature and source of the problem that the proposed regulation is designed to address in order to assess whether any new regulation is warranted; use the SEC Chief Economist to assess the costs and benefits of the intended regulation and adopt it only upon a reasoned determination that its benefits justify the costs; identify and assess available alternatives that were considered; and ensure that any regulation is accessible, consistent, written in plain language, and easy to understand. The SEC shall: consider the impact of the regulation upon investor choice, market liquidity, and small business; and explain in its final rule the nature of comments received concerning the proposed rule or rule change as well as its response to those comments. The SEC shall: (1) review its existing regulations periodically to determine if they are outmoded, ineffective, insufficient, or excessively burdensome; and (2) modify, streamline, expand, or repeal them. Whenever it adopts or amends a major rule, the SEC shall state in its adopting release the regulation's purposes and intended consequences, the post-implementation quantitative and qualitative metrics to measure the regulation's economic impact, the assessment plan to be used under the supervision of the Chief Economist to assess whether the regulation has achieved those purposes, and any foreseeable unintended or negative consequences. The assessment plan must: (1) consider the regulation's costs, benefits, and intended and unintended consequences; and (2) specify the data to be collected, the methods for its collection and analysis, and an assessment completion date. The bill expresses the sense of Congress that the Public Company Accounting Oversight… | 2023-01-11T13:32:48Z | |
| 114-hr-5434 | 114 | hr | 5434 | Stop Debt Collection Abuse Act of 2016 | Finance and Financial Sector | 2016-06-09 | 2016-06-09 | Referred to the House Committee on Financial Services. | House | Rep. Love, Mia B. [R-UT-4] | UT | R | L000584 | 3 | Stop Debt Collection Abuse Act of 2016 This bill amends the Fair Debt Collection Practices Act to redefine: (1) "debt" to include any obligation or alleged obligation of a consumer to pay a loan, an overpayment, a fine, penalty, a fee, or other money owed currently or originally to a federal agency and that is at least 180 days past due; and (2) "debt collector" to include any person who regularly collects debts currently or originally owed or allegedly owed to a federal agency. A federal agency that is a creditor may sell or transfer a debt to a debt collector beginning 90 days after the obligation or alleged obligation becomes delinquent or defaults. The Act is further amended by making the collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) an unfair practice unless: the amount is expressly authorized by the agreement creating the debt or permitted by law (as under current law); and in the case of a debt owed a federal agency as specified in this bill, the collection charge is reasonable in relation to actual collection costs, is authorized by a contract between the debt collector and the federal agency, and does not exceed 10% of the amount the debt collector collects. The Government Accountability Office shall study the use of debt collectors by federal, state, and local government agencies. | 2023-01-11T13:32:48Z | |
| 114-hr-5413 | 114 | hr | 5413 | CFPB Data Accountability Act | Finance and Financial Sector | 2016-06-08 | 2016-06-08 | Referred to the House Committee on Financial Services. | House | Rep. Salmon, Matt [R-AZ-5] | AZ | R | S000018 | 1 | CFPB Data Accountability Act This bill amends the Consumer Financial Protection Act of 2010 to prescribe requirements for the consumer complaint website the Consumer Financial Protection Bureau (CFPB) must establish. The CFPB may only make consumer complaint information available to the public on the website in an aggregated format and after taking steps to ensure that proprietary, personal, or confidential consumer information is not made public. The CFPB must verify any consumer complaint information where the complaint alleges a violation of a law, regulation, or contractual agreement between a consumer and a covered person who offered or provided the consumer financial product or service. The CFPB may only make such information available if the CFPB accompanies it with statistics on how many consumer complaints it receives regarding the particular consumer financial product or service compared to the total number of consumers making use of that consumer financial product or service. The CFPB shall comply with all guidelines issued by the Office of Management and Budget pursuant to the Treasury and General Government Appropriations Act, 2001, as enacted by the Consolidated Appropriations Act, 2001, to ensure and maximize the quality, objectivity, utility, and integrity of information (including statistical information) disseminated by federal agencies in fulfillment of the Paperwork Reduction Act. | 2023-01-11T13:32:49Z | |
| 114-s-2995 | 114 | s | 2995 | Portfolio Lending and Mortgage Access Act | Finance and Financial Sector | 2016-05-26 | 2016-05-26 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Paul, Rand [R-KY] | KY | R | P000603 | 0 | Portfolio Lending and Mortgage Access Act This bill amends the Truth in Lending Act to create a safe harbor from lawsuit for creditors that are depository institutions for any failure to comply with certain requirements with respect to a residential mortgage loan, and the banking regulators are required to treat such a loan as a qualified mortgage, if the creditor has, since the loan's origination, held it on its balance sheet and all prepayment penalties with respect to the loan comply with specified limitations. A safe harbor from lawsuit is also created for mortgage originators for steering a consumer to a residential mortgage loan if: the creditor is a depository institution and has informed the mortgage originator that it intends to hold the loan on its balance sheet for the life of the loan, and the mortgage originator informs the consumer that the creditor intends to do so. | 2023-01-11T13:32:52Z | |
| 114-hr-5322 | 114 | hr | 5322 | U.S. Territories Investor Protection Act of 2016 | Finance and Financial Sector | 2016-05-25 | 2016-07-12 | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | House | Rep. Velazquez, Nydia M. [D-NY-7] | NY | D | V000081 | 2 | (This measure has not been amended since it was introduced. The summary of that version is repeated here.) U.S. Territories Investor Protection Act of 2016 This bill amends the Investment Company Act of 1940 to repeal the exemption from its coverage of investment companies created under the laws of Puerto Rico, the Virgin Islands, or any other U.S. possession. | 2023-01-11T13:32:59Z | |
| 114-hr-5311 | 114 | hr | 5311 | Corporate Governance Reform and Transparency Act of 2016 | Finance and Financial Sector | 2016-05-24 | 2016-09-28 | Placed on the Union Calendar, Calendar No. 621. | House | Rep. Duffy, Sean P. [R-WI-7] | WI | R | D000614 | 1 | Corporate Governance Reform and Transparency Act of 2016 (Sec. 3) This bill amends the Securities Exchange Act of 1934 to: (1) require a proxy advisory firm to register with the Securities and Exchange Commission (SEC); and (2) prohibit an unregistered proxy advisory firm from using interstate commerce to provide proxy-voting research, analysis, or recommendations to any client. With respect to such firms, the bill: (1) establishes procedures for both registration and termination of registration; (2) requires each firm to employ an ombudsman, designate a compliance officer, and file specified documents with the SEC; and (3) prohibits unfair, coercive, or abusive practices. (Sec. 4) The SEC shall report annually on its website regarding registration applications and related matters. | 2023-01-11T13:33:00Z | |
| 114-hr-5308 | 114 | hr | 5308 | Terrorist Asset Seizure Reform Act of 2016 | Finance and Financial Sector | 2016-05-23 | 2016-09-07 | Referred to the Subcommittee on Terrorism, Nonproliferation, and Trade. | House | Rep. Donovan, Daniel M., Jr. [R-NY-11] | NY | R | D000625 | 3 | Terrorist Asset Seizure Reform Act of 2016 This bill directs the Department of the Treasury to require each financial institution to transfer annually to it all amounts of interest it has paid on certain frozen bank accounts, which shall be deposited into the Confiscated Assets Fund establish by this bill. With respect to certain frozen assets of a foreign terrorist organization or a specially designated terrorist, including a Specially Designated Global Terrorist, at the time an asset is frozen or otherwise blocked (or within six months of enactment of this bill for an asset already frozen or blocked) Treasury shall: publish a public notice that the asset is being frozen or otherwise blocked, and give the owner of the asset and other interested parties one year to challenge such freezing or blocking. If the asset remains frozen or otherwise blocked after a year, Treasury shall require the financial institution holding the frozen asset to transfer it to Treasury. Treasury shall: deposit all money received under such asset confiscation requirements into the Confiscated Assets Fund, and sell any non-monetary assets received under the bill and deposit the proceeds into the Fund. Treasury shall establish the Confiscated Assets Fund, which shall be made available to the Federal Emergency Management Agency (FEMA) to make grants under the Urban Area Security Initiative (for assisting high-risk urban areas in preventing, preparing for, protecting against, and responding to acts of terrorism). The Government Accountability Office shall study how Treasury's Office of Foreign Assets Control can better track frozen assets, manage data related to them, and improve reporting to Congress about them across all sanctions programs the Office of Foreign Assets Control administers. | 2023-01-11T13:33:00Z | |
| 114-hr-5282 | 114 | hr | 5282 | Comprehensive Consumer Credit Reporting Reform Act of 2016 | Finance and Financial Sector | 2016-05-19 | 2016-05-19 | Referred to the House Committee on Financial Services. | House | Rep. Waters, Maxine [D-CA-43] | CA | D | W000187 | 8 | Comprehensive Consumer Credit Reporting Reform Act of 2016 This bill amends the Fair Credit Reporting Act to revise requirements for reinvestigations of disputed information by a consumer reporting agency (CRA), establishing a new right to appeal, free of charge, completed disputes adverse to the consumer. The bill prescribes requirements for: dispute procedures for furnishers of information and CRAs, as well as meaningful disclosures to consumers about investigations and reinvestigations; and CRA action when notified of inaccurate or incomplete information from furnishers. The Consumer Financial Protection Bureau (CFPB) shall issue a final rule establishing reasonable procedures CRAs must maintain to ensure maximum possible accuracy and completeness of the information concerning the individual to whom a consumer report relates. Any CRA that furnishes a consumer report containing public record data shall include its source. Courts may award injunctive relief to consumers against any person found liable for either willful or negligent noncompliance with the requirements of the Act. The bill limits the circumstances in which a CRA may furnish a consumer report for employment purposes. No CRA may furnish a consumer report containing any adverse item of information relating to: a delinquent or defaulted private education loan of a borrower who has rehabilitated his or her credit regarding the loan by making 9 on-time monthly loan payments over 10 consecutive months after the delinquency or default occurred, or a covered residential mortgage loan if the action or inaction to which the item of information relates resulted from specified predatory lending practices. The bill shortens the respective time periods that specified adverse credit information remains on consumer reports, and gives deadlines for removing from them fully paid or settled medical debt. A CRA must remove from a consumer report any adverse information about: a private education loan regarding a proprietary educational institution or career educa… | 2023-01-11T13:33:01Z | |
| 114-s-2957 | 114 | s | 2957 | Apollo 11 50th Anniversary Commemorative Coin Act | Finance and Financial Sector | 2016-05-19 | 2016-05-19 | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate | Sen. Nelson, Bill [D-FL] | FL | D | N000032 | 70 | Apollo 11 50th Anniversary Commemorative Coin Act This bill directs the Department of the Treasury to mint and issue gold, silver, half-dollar clad, and proof silver coins in recognition and celebration of the 50th anniversary of the first manned landing on the moon. Treasury may issue coins minted under this bill for only a one-year period, beginning January 1, 2019. All sales of these coins shall include a surcharge of $35 per gold coin, $10 per silver coin, $5 per half-dollar clad coin, and $50 per proof silver coin. All of the surcharges received from the sale of such coins shall be paid as follows: one-half to the Smithsonian Institution's National Air and Space Museum's "Destination Moon" exhibit; one-quarter to the Astronauts Memorial Foundation; and one-quarter to the Astronaut Scholarship Foundation, to aid its missions by providing college scholarships for the very best and brightest students pursuing degrees in science, technology, engineering, or mathematics. | 2023-01-11T13:32:53Z | |
| 114-hr-5211 | 114 | hr | 5211 | CFPB Dual Mandate and Economic Analysis Act | Finance and Financial Sector | 2016-05-12 | 2016-05-12 | Referred to the House Committee on Financial Services. | House | Rep. Emmer, Tom [R-MN-6] | MN | R | E000294 | 4 | CFPB Dual Mandate and Economic Analysis Act This bill amends the Consumer Financial Protection Act of 2010 to revise the purpose of the Consumer Financial Protection Bureau (CFPB) regarding competition in markets for consumer financial products and services. The CFPB shall implement and, where applicable, enforce federal consumer financial law consistently for the purpose of strengthening private sector participation in markets, without government interference or subsidies, to increase competition and enhance consumer choice. The CFPB shall establish an Office of Economic Analysis (OEA) to: review all CFPB proposed guidance, orders, rules and regulations; assess their impact on consumer choice, price, and access to credit products; assess them again after 1, 2, 5, and 10 years; measure the success of the rule, regulation, guidance, or order in solving the problem it was intended to solve when issued; and report on these reviews and assessments in the Federal Register. Before issuing any guidance, order, rule, or regulation, the CFPB shall consider the OEA's review and assessment of it, giving notice and explanation if the CFPB disagrees with the OEA. The CFPB shall also, in each proposed rulemaking, identify the problem the particular rule or regulations is seeking to solve, and specify the metrics by which success in solving the problem will be measured. | 2023-01-11T13:33:03Z | |
| 114-hr-5198 | 114 | hr | 5198 | Overdraft Protection Act of 2016 | Finance and Financial Sector | 2016-05-11 | 2016-05-11 | Referred to the House Committee on Financial Services. | House | Rep. Maloney, Carolyn B. [D-NY-12] | NY | D | M000087 | 17 | Overdraft Protection Act of 2016 This bill amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts or practices in connection with overdraft coverage, or in acts designed to evade the provisions of this Act. Each depository institution that offers or provides overdraft coverage for transaction accounts held at the institution shall clearly and conspicuously disclose overdraft coverage fees. It must also disclose that, if a consumer does not opt-in to such overdraft coverage: the consumer's transaction may be declined if there are insufficient funds in the related transaction account, and the consumer will not be charged a fee if such transaction is declined. A depository institution may charge overdraft coverage fees in connection with use of an automatic teller machine (ATM) or point of sale transaction only if the consumer has consented in writing, in electronic form, or in another form permitted by the Consumer Financial Protection Bureau.A depository institution must provide specified consumer disclosures regarding its overdraft protection program, including: periodic statements for any transaction account that has an overdraft coverage program feature; prompt notification of the account's overdraft status; and the overdraft coverage fee as an annual percentage rate, permitting consumers to compare meaningfully the overdraft coverage to alternative forms of overdraft options and other sources of credit. The bill prescribes overdraft coverage fee limits. The bill prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction. A depository institution shall provide consumers who have not consented to participate in an overdraft coverage program transaction accounts with the same terms as those provided to consumers who have consented to participate in such program. The bill prohibits a depository institution from: charging a non-sufficient fund fee for any ATM or de… | 2023-01-11T13:33:04Z | |
| 114-s-2917 | 114 | s | 2917 | Commodity End-User Relief Act | Finance and Financial Sector | 2016-05-10 | 2016-05-10 | Placed on Senate Legislative Calendar under General Orders. Calendar No. 461. | Senate | Sen. Roberts, Pat [R-KS] | KS | R | R000307 | 0 | (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) Commodity End-User Relief Act TITLE I--CONSUMER PROTECTION (Sec. 101) This bill amends the Commodity Exchange Act to direct each registered futures association (RFA) to submit to the Commodity Futures Trading Commission (CFTC) rules that require each association member that is a futures commission merchant (FCM) to maintain written policies and procedures regarding the maintenance of, as well as govern the member's withdrawal, transfer, or disbursement of: the member's residual interest in any of its customer segregated funds, and in any of its foreign futures and foreign options customer secured amount funds; and the member's residual interest in any cleared swaps customer collateral belonging to the member. (Sec. 102) Each RFA shall also submit to the CFTC rules requiring each association member that is a FCM to: use an electronic system or systems to report financial and operational information to the RFA (or another designated party); instruct each depository holding customer segregated funds, foreign futures and foreign options customer secured amount funds, or cleared swaps customer collateral to report balances in those accounts to the RFA (or other designated party) in the form, manner, and interval prescribed by the RFA; and hold those funds in a depository that reports their balances to the RFA (or other designated party) in the same RFA-prescribed form, manner, and interval. (Sec. 103) Any FCM that has adjusted net capital in an amount less than the amount required by the CFTC or a self-regulatory organization of which the FCM is a member shall immediately notify the CFTC and the self-regulatory organization of that occurrence. If the FCM does not hold a sufficient amount of funds in segregated accounts for futures customers, in foreign futures and foreign options secured amount accounts for foreign futures and foreign options secured amount customers, or in segregated… | 2019-11-15T21:47:24Z | |
| 114-hr-5168 | 114 | hr | 5168 | Christa McAuliffe Commemorative Coin Act of 2016 | Finance and Financial Sector | 2016-05-06 | 2016-05-06 | Referred to the House Committee on Financial Services. | House | Rep. Upton, Fred [R-MI-6] | MI | R | U000031 | 37 | Christa McAuliffe Commemorative Coin Act of 2016 This bill directs the Department of the Treasury to mint and issue not more than 350,000 $1 silver coins in commemoration of Christa McAuliffe. The design of the coins shall bear an image of and the name of Christa McAuliffe on the obverse side and a design on the reverse side that depicts the legacy of McAuliffe as a teacher. Treasury may issue the coins from January 1-December 31, 2018. All surcharges received by Treasury from the sale of the coins shall be paid to the FIRST robotics program for the purpose of engaging and inspiring young people, through mentor-based programs, to become leaders in the fields of science, technology, engineering, and mathematics. | 2023-01-11T13:33:05Z | |
| 114-hr-5143 | 114 | hr | 5143 | Transparent Insurance Standards Act of 2016 | Finance and Financial Sector | 2016-04-29 | 2016-12-08 | Received in the Senate. | House | Rep. Luetkemeyer, Blaine [R-MO-3] | MO | R | L000569 | 39 | Transparent Insurance Standards Act of 2016 (Sec. 3) This bill specifies U.S. objectives regarding international insurance standards. (Sec. 4) The United States may not agree to, accept, establish, enter into, or consent to the adoption of a final international insurance standard with an international standard-setting organization or a foreign government, authority, or regulatory entity unless certain public notice-and-comment requirements and capital standards are met. In the case of an international insurance standard setting forth a capital standard for insurers: (1) the international standard must be consistent with state-based capital requirements; (2) the Board of Governors of the Federal Reserve System must have issued capital requirements for insurance companies it supervises through a rulemaking with a period for public notice and comment, and (3) the international standard must be consistent with the Federal Reserve Board's capital requirements. The Department of the Treasury and the Federal Reserve Board may not agree to an international standard unless: (1) the proposed standard will not change state law, and (2) any proposed international capital standard for insurers is designed solely to help ensure that sufficient funds are available to pay claims to an insurer's policyholders in the event of the liquidation of that entity. Before U.S. adoption of any such international insurance standard, Treasury and the Federal Reserve Board, in consultation with the state insurance commissioners, shall analyze and report to Congress on the impact of the standard on U.S. consumers and markets and whether any changes in state law will result from such final standard. The report must be available for public comment and be reviewed by the Government Accountability Office (GAO). Congress shall have 90 days to approve or reject the final standard. (Sec. 5) Treasury and the Federal Reserve Board must report annually on, and provide testimony to Congress every six months regarding, insurance standard-setting issues u… | 2023-01-11T13:31:31Z |
Advanced export
JSON shape: default, array, newline-delimited, object
CREATE TABLE legislation (
bill_id TEXT PRIMARY KEY,
congress INTEGER,
bill_type TEXT,
bill_number INTEGER,
title TEXT,
policy_area TEXT,
introduced_date TEXT,
latest_action_date TEXT,
latest_action_text TEXT,
origin_chamber TEXT,
sponsor_name TEXT,
sponsor_state TEXT,
sponsor_party TEXT,
sponsor_bioguide_id TEXT,
cosponsor_count INTEGER DEFAULT 0,
summary_text TEXT,
update_date TEXT,
url TEXT
);
CREATE INDEX idx_leg_congress ON legislation(congress);
CREATE INDEX idx_leg_type ON legislation(bill_type);
CREATE INDEX idx_leg_policy ON legislation(policy_area);
CREATE INDEX idx_leg_date ON legislation(introduced_date);
CREATE INDEX idx_leg_sponsor ON legislation(sponsor_name);
CREATE INDEX idx_leg_sponsor_bioguide ON legislation(sponsor_bioguide_id);