jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-04-12 00:00:00

Return to Prudent Banking Act of 2011 - Amends the Federal Deposit Insurance Act (FDIA) to prohibit an insured depository institution from being an affiliate of any broker or dealer, investment adviser, investment company, or any other person or entity engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debentures, notes, or other securities. Prohibits officers, directors and employees of securities firms from simultaneous service on the boards of depository institutions, except in specified circumstances. Requires any such individual serving as an officer, director, employee, or other institution-affiliated party of any insured depository institution to terminate such service as soon as practicable after enactment of this Act. Requires an insured depository institution to wind-down in an orderly manner and terminate any affiliation prohibited by this Act. Amends the Banking Act of 1933 (Glass-Steagall Act) to expand its prohibition against the transaction of banking activities by securities firms. Declares that Congress ratifies the interpretation by the Supreme Court of specified statutory language in the case of Investment Company Institute v. Camp ( ICI vs. Camp) regarding permissible activities of banks and securities firms. Declares that the reasoning of the Court in that case shall continue to apply to the limitations placed upon security affiliations under the FDIA as enacted by this Act. Prohibits a federal banking agency or federal court from issuing an interpretation regarding such security affiliations that is narrower than that of Court in ICI vs. Camp. Makes technical and conforming changes to the Gramm-Leach-Bliley Act, the Revised Statutes of the United States, and specified federal law. Requires the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, or another appropriate federal banking agency to report to Congress a detailed description of the basis for its decision each time it makes a determination or grants an extension concerning an affiliation between insured depository institutions and investment banks or securities firms.
Topic: Domestic Commerce — Banking
Subject: Economics and public finance
Date: 2011-04-13 00:00:00

Amends the Federal Reserve Act to remove from Federal Open Market Committee membership the presidents or first vice presidents, as appropriate, of the Federal Reserve banks.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-04-15 00:00:00

(Sec. 1) Amends the Wall Street Transparency and Accountability Act of 2010, Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, to delay until December 31, 2012, or 90 days after publication of the relevant final rule or regulation (unless the rule or regulation specifies a later date), or the otherwise applicable effective date, whichever is the latest, the effective date for implementation of certain parts of Title VII, including the promulgation of regulations, the conduct of studies and preparation of reports, and the registration of persons, as well as the exemption of persons, agreements, contracts, or transactions from coverage by Title VII. Exempts from such delay, however, the authority of the Commodity Futures Trading (CFTC) and the Securities and Exchange Commission (SEC) to issue final definitions pertaining to swap transactions, swap participants, and eligible contract participants. Requires the CFTC and the SEC to further define swaps and related terms subject to their joint rulemaking. States that the effective date for CFTC reporting of swap-data and SEC reporting of security-based swap data is 90 days after publication of the final rule in the Federal Register, or the effective date otherwise applicable to such reporting, whichever is later. Grants the CFTC and the SEC interim authority to permit the reporting of swap data and security-based swap data to certain persons who have: (1) provided notice of their intention to register as a swap data repository or as a security-based swap data repository, and (2) made appropriate undertakings to the respective Commission as the latter determines to be in the public interest. (Sec. 2) Requires the two Commissions, before prescribing final rules and regulations under Title VII, to conduct additional public hearings and roundtables on specified issues, solicit public comment, and take into account the testimony of interested parties when performing mandatory cost-benefit analyses and when determining the effective date of final rules and regulations. (Sec. 3) Amends the Commodity Exchange Act (CEA) and the Securities Exchange Act of 1934 to authorize the CFTC and the SEC, respectively, to exempt a person from the registration and related regulatory requirements of such Acts if: (1) the person is subject to comparable supervision and regulation under a regulatory scheme administered by another regulatory authority or the appropriate government authorities in the person's home country that is comparable to the requirements of Title VII, (2) adequate information-sharing arrangements are in effect between the agencies and the foreign regulator, and (3) the exemption is consistent with the public interest .
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2011-04-15 00:00:00

Ponzi Scheme Victims' Tax Relief Act of 2011- Amends the Internal Revenue Code to allow: (1) a special theft loss tax deduction for qualified fraudulent investment losses and for such losses in connection with assets held in an individual retirement account (IRA); (2) a carryback of net operating losses which are qualified fraudulent investment losses for up to 10 years; (3) withdrawals from tax-exempt retirement plans for a 10-year period without penalty to replace qualified fraudulent investment losses; (4) catch-up contributions to retirement plans to compensate for fraudulent investment losses; and (5) an extension of the limitation period for filing refund claims for overpayments of tax in connection with gifts and bequests of an interest in an investment for which there is a qualified fraudulent investment loss. Defines "qualified fraudulent investment loss" as a loss discovered in 2008 or 2009 resulting from a fraudulent arrangement in which a person receives cash or property from investors, purports to earn income for investors, reports partially or wholly fictitious income to such investors, makes payments to some investors from payments made by other investors, and appropriates some or all of the investors' cash or property. Waives for a one-year period after the enactment of this Act the application of any law or rule of law (including res judicata) which prevents any credit or refund otherwise allowed by this Act.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-04-15 00:00:00

Faster Access and Shorter Transaction Time for Checks Act of 2011 or FASTT Checks Act - Amends the Expedited Funds Availability Act to provide for faster access to funds deposited in a receiving depository institution by doubling the amounts available for withdrawal at specified earliest times after deposit. Revises the next business day availability requirement for cash deposited in a new depositor account. Eliminates the exception from this rule (thus requiring next business day availability) for large deposits in large depository banks if a check: (1) has been truncated and cleared in accordance with the Check Clearing for the 21st Century Act, and (2) is received for payment or deposit at a depositary bank with total assets of $10 billion or more. Treats Saturday as a business day in the calculation of any period within which funds deposited in an account at a receiving depository institution are required to be available.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-05-04 00:00:00

Common Sense Economic Recovery Act of 2011 - Cites circumstances under which, for purposes of determining capital requirements or measuring an insured depository institution's capital, such an institution may treat a non-accrual loan as an accrual loan. (Non-accrual [also known as non-performing or doubtful] loans are those on which interest is overdue and full collection of principal is uncertain, and so interest, if it has not been paid in over 90 days, cannot be credited to the bank's revenue account until it has actually been received.) Conditions treatment as an accrual loan on a non-accrual loan's being current, not more than 30 days delinquent on a monthly payment, and an amortizing loan whose payments are not being funded through an interest reserve account. Applies accrual loan treatment, to the same extent as non-modified mortgage loans, to modified mortgage loans meeting the criteria of this Act, including those that also meet the criteria for troubled debt restructuring. Prohibits the appropriate federal banking agency from imposing any additional accounting requirements upon an insured depository institution with respect to a loan treated as an accrual loan under this Act if the result of the additional requirement would adversely impact measurement of the institution's capital. Directs the Financial Stability Oversight Council to study how best to prevent the issuance of contradictory guidance to such institutions by federal banking agencies with respect to loan classifications and capital requirements.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-05-11 00:00:00

Swaps Bailout Prevention Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to revise the prohibition against federal government assistance to (bailouts of) registered swap dealers, security-based swap dealers, major swap participants, or major security-based swap participants with respect to any swap, security-based swap, or other activity. Extends the meaning of "covered depository institution" to include an uninsured U.S. branch or agency of a foreign bank that has a prudential regulator as well as an insured depository institution (as covered by current law). Repeals the application of this prohibition to any insured depository institution unless it limits its swap or security-based swap activities to: (1) hedging and other similar risk mitigating activities directly related to the institution's activities; (2) acting as a swaps entity for swaps or security-based swaps involving rates or reference assets permissible for investment by a national bank; or (3) acting as a swaps entity for credit default swaps, including swaps or security-based swaps involving the credit risk of asset-backed securities, but only if they are cleared by a derivatives clearing organization under the Commodity Exchange Act, or a clearing agency registered, or exempt from registration, as a derivatives clearing organization, or as a clearing agency under the Securities Exchange Act. Replaces these requirements for exemption from the prohibition with a declaration that the prohibition against federal assistance to swaps entities shall not apply to a covered depository institution that limits swap and security-based swap activities to: (1) hedging and similar risk mitigating activities directly related to the institution's activities, or (2) acts as a swaps entity for swaps or security-based swaps other than a structured finance swap. Defines "structured finance swap" as a swap or security-based swap based on an asset-backed security (or group or index primarily composed of asset-backed securities). Exempts also from the prohibition against federal assistance to swaps entities any covered depository institution that acts as a swaps entity for structured finance swaps or security-based swaps if: (1) they are undertaken for hedging or risk management purposes; or (2) each asset-backed security underlying such structured finance swaps is of a credit quality and of a type or category authorized by the prudential regulators. Exempts from the prohibition entirely any swap or security-based swap activity conducted outside the United States with a non-U.S. counterparty by a non-U.S. swaps entity licensed, in the case of a foreign branch of a U.S. depository institution, or organized under the laws of a jurisdiction outside the United States.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-05-13 00:00:00

FFSCC Charter Act of 2011 - Directs the Comptroller of the Currency to: (1) provide for the establishment and chartering of Federal Financial Services and Credit Companies (FFSCCs); and (2) ensure that credit alternatives are available to the underbanked. Prescribes eligibility criteria for an FFSCC charter. Subjects FFSCCs to specified requirements, including: (1) credit disclosures; (2) account access; (3) financial literacy programs; (4) a comprehensive array of financial services to the underbanked, unbanked, and consumers with low credit scores; and (5) grant of access to credit products predominately to unbanked or underbanked consumers. Subjects FFSCCs to an annual fee to offset the cost of implementing this Act. Directs the Comptroller to: (1) draft approved, model product and disclosure forms that may be utilized by FFSCCs with any approved credit products or services; (2) study rates and terms used in the extension of credit; and (3) develop a suite of FSCC financial products for underbanked persons which contain transparent and full disclosure of all related fees and terms, and are economically viable for FFSCCs to offer.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-05-24 00:00:00

Amends the Securities Exchange Act of 1934 to increase from $1 million to $10 million the shareholder registration threshold for an issuer of securities. Requires an issuer that is either a bank or a bank holding company to register a security with the Securities and Exchange Commission (SEC) if its assets exceed $10 million and include a certain class of equity security held of record by 2,000 or more persons. Requires termination of a security registration in the case of a bank or a bank holding company if the number of holders of record of the class of security is reduced to less than 1,200. Repeals periodic reporting requirements also for such a bank or bank holding company. Directs the Chief Economist and the Director of the Division of Corporation Finance of the SEC to conduct a joint cost-benefit analysis of shareholder registration thresholds. Directs the SEC to issue final regulations to implement this Act not later than 1 year after its date of enactment.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-06-01 00:00:00

Amends the Federal Deposit Insurance Act to remove the Director of the Consumer Financial Protection Bureau (CFPB) from membership on the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) and substitute the Chairman of the Board of Governors of the Federal Reserve System (or a designee).
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-06-21 00:00:00

Directs the Board of Governors of the Federal Reserve System to amend "Regulation D" (Reserve Requirements of Depository Institutions) to revise the definition of "savings deposit" with respect to a passbook savings account, statement savings account, or a money market deposit account. Requires the Board to increase from 6 to 30 the number of transfers and withdrawals a depositor may make per calendar month (or statement cycle or similar period of at least four weeks) to another account of the depositor at the same institution or to a third party by specified means.
Topic: Domestic Commerce — Banking
Subject: Armed forces and national security
Date: 2011-06-23 00:00:00

Ensuring a Response for Servicemembers Act - Directs each lending institution subject to specified interest rate requirements under the Servicemembers Civil Relief Act to designate an employee as a compliance officer responsible for ensuring the institution's compliance and distributing information to servicemembers regarding applicable obligations and liabilities. Requires, during any fiscal year, such lending institutions with annual assets of at least $10 billion for the preceding fiscal year to maintain a toll-free telephone number and make the number available on the institution's primary Internet website.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-07-07 00:00:00

Glass-Steagall Restoration Act of 2011 - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities. Prohibits the staff and personnel of corporations and partnerships (as well as any individual) primarily engaged in the issue, flotation, underwriting, public sale, or distribution, of stocks, bonds, or other similar securities from serving simultaneously as an officer, director, or employee of any member bank. Authorizes the Board of Governors of the Federal Reserve System to grant an exception in limited classes of cases when in the Board's judgment it would not unduly influence the investment policies of such member bank or the advice it gives its customers regarding investments.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-07-11 00:00:00

Whistleblower Improvement Act of 2011 - Amends the Securities Exchange Act of 1934 and the Commodity Exchange Act to require a whistleblower employee, as a prerequisite to eligibility for a whistleblower award, to: (1) first report information relating to misconduct to his or her employer before reporting it to the Securities and Exchange Commission (SEC), and (2) report such information to the SEC within 180 days after reporting it to the employer. Prohibits a whistleblower award to any whistleblower who fails to report the relevant information to his or her employer first, unless: (1) the employer lacks either a policy prohibiting retaliation for reporting potential misconduct or an internal reporting system allowing for anonymous reporting, or (2) the SEC determines that internal reporting was not a viable option. Prohibits a whistleblower award to any whistleblower who has legal or compliance responsibilities and a fiduciary or contractual obligation to investigate internal reports of misconduct or violations if the information learned by the whistleblower during the course of his or her duties was communicated with the reasonable expectation that such person would take appropriate steps to respond. Makes the whistleblower award discretionary instead of mandatory. Repeals the minimum award requirement. Prohibits an award to a whistleblower found civilly liable or determined by the SEC to have been complicit in misconduct related to the pertinent violation. Requires the SEC to notify the pertinent entity before commencing any enforcement action relating to information reported by a whistleblower, unless such notification would jeopardize investigative measures and impede the gathering of relevant facts. Directs the Comptroller General to study what impact, if any, the whistleblower incentives program has had upon shareholder value.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-07-15 00:00:00

Prohibits the Secretary of the Treasury from requiring a payor of interest to file an information return on interest that is not effectively connected with a trade or business within the United States and that is paid to a nonresident alien on a deposit maintained at an office within the United States.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2011-09-23 00:00:00

Amends the Internal Revenue Code, with respect to personal holding company rules, to repeal certain exceptions to the treatment of consolidated groups of corporations under such rules.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-10-03 00:00:00

Freedom and Mobility in Consumer Banking Act - Amends the Federal Deposit Insurance Act (FDIA) to prohibit an insured depository institution from: (1) prohibiting any person from closing a checking or savings account, regardless of its balance; or (2) charging a fee to close such an account. Requires a depository institution to close an account within 48 hours after receiving a request from the customer to do so. Permits an account holder to request that the account be closed in person, over the phone, or by other electronic or remote means, as may be prescribed by regulation. Sets forth financial institution procedures for closing large accounts and repaying balances, as well as notice and opportunity for accountholder repayment of overdrafts. Prohibits a depository institution from: (1) imposing fees or charges after receiving a request to close an account, or (2) reopening an account without express account holder request.
Topic: Domestic Commerce — Banking
Subject: Commerce
Date: 2011-10-11 00:00:00

Small Business Lending Extension Act - Amends the Small Business Jobs Act of 2010 to extend, for an additional year, the authority of the Secretary of the Treasury under the Small Business Lending Fund Program to make capital investments in eligible institutions (eligible insured depository institutions, bank holding companies, and savings and loan companies) in order to increase the availability of credit for small businesses. (Current law terminates such authority one year after enactment of such Act.) Requires the Secretary to: (1) supply an institution whose application to receive a capital investment from the Fund is rejected with the reason for such rejection, (2) establish an appeal process, and (3) issue regulations allowing a rejected institution to reapply for such an investment.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-10-12 00:00:00

Consumer Debit Card Protection Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority granted the Consumer Financial Protection Board (CFPB) to prescribe regulations for interchange transaction (swipe) fees that an issuer may receive or charge in connection with an electronic debit transaction (EDT). Declares void, and without force or effect, any regulation or information collection which the Board of Governors of the Federal Reserve System (Board) may propose or prescribe pursuant to the Electronic Fund Transfer Act (EFTA). Makes conforming amendments to EFTA.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-10-13 00:00:00

Amends the Federal Deposit Insurance Act to prohibit an insured depository institution from charging a fee to any consumer for receiving or using a debit card. Subjects violators of such prohibition to civil liability for: (1) actual damages sustained by the consumer of between $100 and $1,000, (2) such punitive damages as the court may allow, and (3) the costs of a successful action together with reasonable attorney's fees to enforce liability.
Topic: Domestic Commerce — Banking
Subject: Economics and public finance
Date: 2011-11-15 00:00:00

Amends the Federal Reserve Act to replace the Federal Open Market Committee members representing the Federal Reserve banks with additional members appointed by the President, who shall give due regard to a fair representation of the financial, agricultural, industrial, commercial, consumer, and labor interests, and geographical diversity, of the United States.