I 
109TH CONGRESS 
1ST SESSION H. R. 4146 
To facilitate recovery from the effects of Hurricane Rita and Hurricane 
Wilma by providing greater flexibility for, and temporary waivers of 
certain requirements and fees imposed on, depository institutions, credit 
unions, and Federal regulatory agencies, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
OCTOBER 26, 2005 
Mr. BAKER (for himself and Ms. WASSERMAN SCHULTZ) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
To facilitate recovery from the effects of Hurricane Rita 
and Hurricane Wilma by providing greater flexibility for, 
and temporary waivers of certain requirements and fees 
imposed on, depository institutions, credit unions, and 
Federal regulatory agencies, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Hurricanes Rita and 
Wilma Financial Services Relief Act of 2005’’.
SEC. 2. DEFINITIONS. 
For purposes of this Act, the following definitions 
shall apply: 
(1) APPROPRIATE
FEDERAL
BANKING
AGEN-
CY.—The term ‘‘appropriate Federal banking agen-
cy’’ has the same meaning as in section 3 of the 
Federal Deposit Insurance Act. 
(2) INSURED CREDIT UNION.—The term ‘‘in-
sured credit union’’ has the same meaning as in sec-
tion 101 of the Federal Credit Union Act. 
(3) INSURED DEPOSITORY INSTITUTION.—The 
term ‘‘insured depository institution’’ has the same 
meaning as in section 3 of the Federal Deposit In-
surance Act. 
(4) QUALIFIED
DISASTER
AREA.—The term 
‘‘qualified disaster area’’ means— 
(A) any area within Louisiana or Texas in 
which the President, pursuant to section 401 of 
the Robert T. Stafford Disaster Relief and 
Emergency Assistance Act, has determined, on 
or after September 24, 2005, that a major dis-
aster exists due to Hurricane Rita; and 
(B) any area within Florida in which the 
President, pursuant to section 401 of the Rob-
ert T. Stafford Disaster Relief and Emergency 
Assistance Act, has determined, on or after Oc-
tober 22, 2005, that a major disaster exists due 
to Hurricane Wilma. 
SEC. 3. SENSE OF THE CONGRESS ON CASHING OF GOV-
ERNMENT CHECKS. 
It is the sense of the Congress that— 
(1) it is vital that insured depository institu-
tions and insured credit unions continue to provide 
financial services to consumers displaced or other-
wise affected by Hurricane Rita or Hurricane 
Wilma, which includes the cashing of Federal gov-
ernment assistance and benefit checks; 
(2) the Secretary of the Treasury and the Fed-
eral financial regulators should seek to educate in-
sured depository institutions and insured credit 
unions on the proper application of the guidance 
issued by the Secretary on cashing of Federal gov-
ernment assistance and benefit checks and published 
in the Federal Register while such guidance is in ef-
fect; and 
(3) the Federal financial regulators should con-
tinue to work with the insured depository institu-
tions and insured credit unions operating under ex-
traordinary circumstances to facilitate the cashing of 
Federal government assistance and benefit checks.
SEC. 4. WAIVER OF FEDERAL RESERVE BOARD FEES FOR 
CERTAIN SERVICES. 
Notwithstanding section 11A of the Federal Reserve 
Act or any other provision of law, during the effective pe-
riod of this section, a Federal reserve bank shall waive 
or rebate any transaction fee for wire transfer services 
that otherwise would be imposed on any insured deposi-
tory institution or insured credit union that— 
(1) 
as 
of 
September 
24, 
2005, 
was 
headquartered in a qualified disaster area described 
in section 2(4)(A); or 
(2) as of October 22, 2005, was headquartered 
in a qualified disaster area described in section 
2(4)(B). 
SEC. 5. FLEXIBILITY IN CAPITAL AND NET WORTH STAND-
ARDS FOR AFFECTED INSTITUTIONS. 
(a) IN GENERAL.—Notwithstanding section 38 of the 
Federal Deposit Insurance Act, section 216 of the Federal 
Credit Union Act, or any other provision of Federal law, 
during the 18-month period beginning on the date of en-
actment of this Act, the appropriate Federal banking 
agency and the National Credit Union Administration may 
forbear from taking any action required under any such 
section or provision, on a case-by-case basis, with respect 
to any undercapitalized insured depository institution or 
undercapitalized insured credit union that is not signifi-
cantly or critically undercapitalized, if such agency or Ad-
ministration determines that— 
(1) the insured depository institution or insured 
credit union derives more than 50 percent of its 
total deposits from persons who normally reside 
within, or whose principal place of business is nor-
mally within, a qualified disaster area; 
(2) the insured depository institution or insured 
credit union was at least adequately capitalized as 
of— 
(A) September 24, 2005, if the qualified 
disaster area referred to in paragraph (1) with 
respect to such depository institution or credit 
union is the qualified disaster area described in 
section 2(4)(A); or 
(B) October 22, 2005, if the qualified dis-
aster area referred to in paragraph (1) with re-
spect to such depository institution or credit 
union is the qualified disaster area described in 
section 2(4)(B). 
(3) the reduction in the capital or net worth 
category of the insured depository institution or in-
sured credit union is directly attributable to the im-
pact of Hurricane Rita or Hurricane Wilma, as ap-
plicable; and
(4) forbearance from any such action— 
(A) would facilitate the recovery of the in-
sured depository institution or insured credit 
union from the disaster in accordance with a re-
covery plan or a capital or net worth restoration 
plan established by such depository institution 
or credit union; and 
(B) would be consistent with safe and 
sound practices. 
(b) CAPITAL AND NET WORTH CATEGORIES DE-
FINED.—For purposes of this section, the terms relating 
to capital categories for insured depository institutions 
have the same meaning as in section 38(b)(1) of the Fed-
eral Deposit Insurance Act and the terms relating to net 
worth categories for insured credit unions have the same 
meaning as in section 216(c)(1) of the Federal Credit 
Union Act. 
SEC. 6. DEPOSIT OF INSURANCE PROCEEDS. 
(a) IN GENERAL.—The appropriate Federal banking 
agency and the National Credit Union Administration 
may, by order, permit an insured depository institution or 
insured credit union, during the 18-month period begin-
ning on the date of enactment of this Act, to subtract from 
such institution’s or credit union’s total assets in calcu-
lating compliance with the leverage limit, applicable under