Fairness for Community Job Creators Act

Bill: 113-hr-3819
Sponsor: full_name: Rep. Capito, Shelley Moore [R-WV-2]
Introduced: 2014-01-08
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Securities
Latest action: action_date: 2014-01-08
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2014-01-08
action_desc: Introduced in House
text: <p>Fairness for Community Job Creators Act - Amends the Bank Holding Company Act of 1956 relating to prohibitions on proprietary trading and certain relationships with hedge and private equity funds (Volcker Rule).</p> <p>Prohibits any construction of these prohibitions to require the divestiture of collateralized debt obligations that were issued before December 10, 2013, if, as of that date, those obligations are predominantly backed by trust-preferred securities.</p>

tv_txt: I 113th CONGRESS 2d Session H. R. 3819 IN THE HOUSE OF REPRESENTATIVES January 8, 2014 Mrs. Capito (for herself, Mr. Hensarling , Mr. Bachus , Mr. Garrett , Mr. Neugebauer , and Mr. McHenry ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend a provision of the Bank Holding Company Act of 1956 regarding prohibitions on investments in certain funds to clarify that such provision shall not be construed to require the divestiture of certain collateralized debt obligations backed by trust-preferred securities.

1. Short title This Act may be cited as the Fairness for Community Job Creators Act . 2. Rule of construction relating to debt instruments Section 13 of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1851 ) is amended by adding at the end the following new subsection: (i) Rule of construction Nothing in this section shall be construed to require the divestiture of any collateralized debt obligations issued before December 10, 2013, that as of December 10, 2013, are predominantly backed by trust-preferred securities. .