Preserving and Expanding Minority Depository Institutions Act

Bill: 110-hr-4043
Sponsor: Rep. Watt, Melvin L. [D-NC-12]
Introduced: 2007-11-01 in the House
Policy area: Finance and Financial Sector
Subjects: Bank mergers
Commerce
Congress
Congressional reporting requirements
Minorities
Minority business enterprises

Summary:
action_date: 2007-11-01
text: 
Preserving and Expanding Minority Depository Institutions Act - Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to include the Chairman of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the Comptroller of the Currency among the persons with whom the Secretary of the Treasury must consult regarding methods for best preserving: (1) the present number of minority depository institutions; and (2) their minority character in cases involving mergers or acquisition of a minority depository institution.
 
Directs the Secretary of the Treasury, the Chairman of the Federal Reserve Board, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, and the Chairperson of the Federal Deposit Insurance Corporation each to submit an annual report to Congress describing actions taken with respect to the preservation and expansion of minority depository institutions.

action_date: 2007-12-04
text: 

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Preserving and Expanding Minority Depository Institutions Act - Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) to include the Chairman of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the Comptroller of the Currency among the persons with whom the Secretary of the Treasury must consult regarding methods for best preserving: (1) the present number of minority depository institutions; and (2) their minority character in cases involving mergers or acquisition of a minority depository institution.
 
Directs the Secretary of the Treasury, the Chairman of the Federal Reserve Board, the Comptroller of the Currency, the Director of the Office of Thrift Supervision (OTS), and the Chairperson of the Federal Deposit Insurance Corporation each to submit an annual report to Congress describing actions taken with respect to the preservation and expansion of minority depository institutions.
 
Amends the Home Owners' Loan Act to repeal its (redundant) requirement that the OTS Director report annually to Congress on actions taken with respect to the preservation and expansion of minority depository institutions.

action_date: 2007-12-05
text: 
Preserving and Expanding Minority Depository Institutions Act - Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) to include the Chairman of the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the Comptroller of the Currency among the persons with whom the Secretary of the Treasury must consult regarding methods for best preserving: (1) the present number of minority depository institutions; and (2) their minority character in cases involving mergers or acquisition of a minority depository institution.

Directs the Secretary of the Treasury, the Chairman of the Federal Reserve Board, the Comptroller of the Currency, the Director of the Office of Thrift Supervision (OTS), and the Chairperson of the Federal Deposit Insurance Corporation each to submit an annual report to Congress describing actions taken with respect to the preservation and expansion of minority depository institutions.
 
Amends the Home Owners' Loan Act to repeal its (redundant) requirement that the OTS Director report annually to Congress on actions taken with respect to the preservation and expansion of minority depository institutions.


Legislative actions:
action_date: 2007-12-06
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2007-12-05
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2007-12-05
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H14174)
action_date: 2007-12-05
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H14174)
action_date: 2007-12-05
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 4043.
action_date: 2007-12-05
text: Considered under suspension of the rules. (consideration: CR H14174-14176)
action_date: 2007-12-05
text: Mr. Watt moved to suspend the rules and pass the bill, as amended.
action_date: 2007-12-04
text: Placed on the Union Calendar, Calendar No. 289.
action_date: 2007-12-04
text: Reported by the Committee on Financial Services. H. Rept. 110-465.
action_date: 2007-12-04
text: Reported by the Committee on Financial Services. H. Rept. 110-465.
action_date: 2007-11-07
text: Ordered to be Reported by Voice Vote.
action_date: 2007-11-07
text: Committee Consideration and Mark-up Session Held.
action_date: 2007-11-01
text: Referred to the House Committee on Financial Services.
action_date: 2007-11-01
text: Introduced in House
action_date: 2007-11-01
text: Introduced in House