jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2010-09-28 00:00:00

Housing Opportunity and Mortgage Equity Act of 2010 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs) each to carry out a one-year program providing for the refinancing of qualified single-family housing mortgages it owns through a refinancing mortgage (and for the purchase of and securitization of such refinancing mortgages) in accordance with this Act and the policies and procedures of the Federal Housing Finance Agency. Defines a qualified mortgage as one, regardless of whether the mortgagor is current on payments due or in default, that: (1) is an existing first mortgage for purchase of, or refinancing another first mortgage on, a one- to four-family dwelling, including a condominium or a share in a cooperative ownership housing association, that is occupied by the mortgagor as principal residence; (2) is owned or guaranteed by the particular GSE; and (3) was originated on or before enactment of this Act. Specifies the terms and conditions of a refinancing mortgage, including a 40-year term to maturity and a prohibition on borrower fees. Requires waiver or forgiveness of all fees and penalties related to any default or delinquency on the original mortgage. Requires a GSE to pay a fee of up to $1,000 to the servicer of a qualified mortgage refinance. Prohibits any requirement of a property appraisal.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2010-09-29 00:00:00

Investment in Commercial Real Estate Act of 2010 - Exempts servicers of commercial mortgage loans from liability for entering into a loan modification or workout plan if certain requirements are met. Amends the Internal Revenue Code to: (1) reduce the recovery period for depreciation of residential rental and nonresidential real property (thus accelerating such depreciation); and (2) extend from two to five years the carryback period for deducting net operating losses. Requires federal banking agencies to implement a system of dynamic provisioning for investment and loan loss reserves that meets specified requirements and is applicable to all depository institutions before January 1, 2011. Requires depository institutions that make or hold permanent commercial mortgage loans to submit to the Board of Governors of the Federal Reserve System in each calendar quarter the aggregate amount of permanent commerical mortgage loans that matured during the quarter but did not fully amortize, were current prior to maturity, had adequate cash flows to continue paying interest and principal, and were not renewed at maturity or were renewed at a lower principal balance. Terminates this requirement after March 31, 2013. Requires the Secretary of the Treasury to conduct a study and report to Congress on commercial mortgage credit.
Topic: Domestic Commerce — Consumer Finance
Subject: Social welfare
Date: 2010-09-29 00:00:00

Stephanie Tubbs Jones Assets for Independence Reauthorization Act of 2010 - Amends the Assets for Independence Act, which provides for demonstration projects designed to provide individuals and families of limited means with an incentive to save a portion of their earned income and thereby accumulate assets, increase their economic self-sufficiency, and stabilize such families and the communities in which they live. Expresses the sense of Congress that a qualified entity conducting a demonstration project under the Act should, to the maximum extent practicable, increase: (1) the rate at which it matches contributions by participating individuals; or (2) the number of such participating individuals. States that multiple households may share a single residence. Specifies public housing agencies and tribally designated housing entities as entities qualified to participate in a demonstration project. Repeals the requirement that state or local government or other public agencies apply jointly with a tax-exempt not-for-profit charitable organization or collaborate with certain kinds of local community-based organizations. Includes among postsecondary educational expenses any expenses for preparatory courses, room and board, and transportation. Revises requirements for: (1) applications for new and renewals of existing projects; (2) limitations on uses of the Reserve Fund; and (3) the adjusted gross household income eligibility test, requiring regulations for transfers from one project to another for individuals who move because of major disasters or emergencies, to find employment, or to a community where no project is available. Revises requirements for deposits by qualified entities in the individual development accounts (IDAs) of participating individuals to: (1) increase maximum deposits per individual and per household; (2) facilitate withdrawal of funds from an IDA, with formal approval, during the year following the end of a demonstration project; and (3) require disposal of funds remaining in an IDA at the end of that year. Requires the Secretary of Health and Human Services (HHS), acting through the Director of Community Services, to make every effort, 90 days after terminating the authority of one qualified entity to operate a demonstration project, to identify another qualified entity (or entities), in the same or a different community, willing and able to conduct one or more demonstration projects. Specifies criteria for giving priority consideration to candidate entities. Revises requirements for contracting with independent research organizations to evaluate demonstration projects. Authorizes the Secretary to: (1) use certain funds to cover the necessary costs of training for a qualified entity conducting a demonstration project, including costs of travel, accommodations, and meals; and (2) waive any requirement of the Act in certain circumstances.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2010-11-17 00:00:00

Red Flag Program Clarification Act of 2010 - Amends the Fair Credit Reporting Act, with respect to federal agency (red flag) guidelines regarding identity theft and the users of consumer reports, to define creditor to mean one that regularly and in the ordinary course of business: (1) obtains or uses consumer reports, directly or indirectly, in connection with a credit transaction; (2) furnishes information to certain consumer reporting agencies in connection with a credit transaction; or (3) advances funds to or on behalf of a person, based on the person's obligation to repay the funds or on repayment from specific property pledged by or on the person's behalf. Includes in the definition any other type of creditor as the federal agency (banking agency, National Credit Union Administration, or the Federal Trade Commission [FTC]) having authority over that creditor may determine appropriate, if the creditor offers or maintains accounts subject to a reasonably foreseeable risk of identity theft. Excludes from the definition of creditor, however, any creditor that advances funds on behalf of a person for expenses incidental to a service the creditor provides to that person.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2010-11-30 00:00:00

Transparency and Security in Mortgage Registration Act of 2010 - Amends the National Housing Act to prohibit the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) from purchasing, acquiring, newly lending on the security of, newly investing in securities consisting of, or otherwise newly dealing in any Mortgage Electronic Registration System, Inc. (MERS) mortgage or mortgages. Prohibits the Government National Mortgage Association (Ginnie Mae) from newly guaranteeing the payment of principal of or interest on any trust certificate or other security based or backed by a trust or pool that contains, or purchase or acquire, any MERS mortgage. Directs Fannie Mae, Freddie Mac, and Ginnie Mae to require all their current MERS mortgages to be assigned to the proper servicer, holder, or creditor. Directs the Secretary of Housing and Urban Development (HUD) to study and report to Congress to analyze and determine: (1) the impacts of the lack of electronic records and uniform standards found in local land title recordation systems currently used in the various states; (2) any progress states have made in developing electronic land title recordation systems containing uniform standards; (3) the current oversight role of the federal government in the transfer and recordation of land titles; and (4) the feasibility of creating a federal land title recordation system for property transfers that would maintain all previous records of the land-property without invalidating, interfering with, or preempting state real property law governing the transfer and perfection of land title.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-01-06 00:00:00

Homeowner Protection and Wall Street Accountability Act of 2009 - Expresses the sense of Congress that Congress should enact, and the President should sign, legislation to: (1) stabilize the housing market and assist homeowners by imposing a temporary moratorium on foreclosures, removing impediments to the modification of distressed mortgages, creating tax and other incentives to help prevent foreclosures and encourage refinancing into affordable and sustainable mortgage solutions, and pursuing other foreclosure-prevention policies through the Troubled Asset Relief Program (TARP) or other programs; (2) ensure the safety and soundness of the U.S. financial system for investors by reforming the financial-regulatory system, strengthening systemic-risk regulation, enhancing market transparency, and increasing consumer protections in financial regulation to prevent predatory lending practices; (3) ensure credit-card accountability, responsibility, and disclosure; and (4) stabilize credit markets for small-business lenders to enhance their ability to make loans to small firms, and stimulate the small-business loan markets by temporarily streamlining and investing in the loan programs of the Small Business Administration (SBA).
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-01-06 00:00:00

Helping Families Save their Homes in Bankruptcy Act of 2009 - Amends federal bankruptcy law governing a Chapter 13 debtor (adjustment of debts of an individual with regular income). Excludes from computation of debts the secured or unsecured portions of: (1) debts secured by the debtor's principal residence if the current value of that residence is less than the secured debt limit; or (2) debts secured or formerly secured by debtor's principal residence that was either sold in foreclosure or surrendered to the creditor if the current value of such real property is less than the secured debt limit. Declares the credit counseling requirement inapplicable to a Chapter 13 debtor who certifies that he or she has received notice that the holder of a claim secured by the debtor's principal residence may commence a foreclosure on the debtor's principal residence. Requires the court to disallow a claim that is subject to any remedy for damages or rescission due to violations of state or federal consumer protection law, including the Truth in Lending Act, notwithstanding the prior entry of a foreclosure judgment. Allows modification of the rights of claim holders, in the event of a foreclosure notice for a chapter 13 debtor, among other means by: (1) reducing a claim to equal the value of the debtor's interest in the residence securing such claim, and any adjustments to a related adjustable rate of interest; (2) waiving early repayment or prepayment penalties; and (3) extending the repayment period. Denies debtor liability for certain fees and charges incurred while the bankruptcy case is pending and arising from a debt secured by the debtor's principal residence, unless the claim holder observes specified requirements. Adds to conditions for court confirmation of a plan in bankruptcy that: (1) the holder of a claim secured by the debtor's principal residence retain the lien securing the claim until the later of the payment of such claim as reduced and modified or the discharge of a debtor from all debts; and (2) the plan modifies the claim in good faith. Excludes from final discharge of a debtor from all debts: (1) any payments to claim holders whose rights are modified under this Act; and (2) any unpaid portion of a claim as reduced.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-01-07 00:00:00

Student Credit Card Protection Act of 2009 - Amends the Truth in Lending Act to limit by a specified formula the total credit which may be extended by a creditor during any full calendar year to a full time, traditional-aged college student under a college student credit card account, unless a parent, legal guardian, or spouse of the student assumes joint liability for debts incurred.Prohibits increasing the credit limit on an account for which a parent, guardian, or spouse has assumed joint liability without that person's written approval.States that a creditor must require adequate proof of income, income history, and credit history, before any such college student credit card account may be opened.Prohibits a creditor from opening a credit card account for, or issue any credit card to, any college student who: (1) has no verifiable annual gross income; and (2) already maintains a credit card account under an open end consumer credit plan with the same creditor or any affiliate. Directs the Board of Governors of the Federal Reserve System to promulgate implementing regulations.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-01-15 00:00:00

Consumer Credit Fairness Act - Amends federal bankruptcy law to require the bankruptcy court to disallow any claim arising from a high cost consumer credit transaction. Defines "high cost consumer credit transaction" as an extension of credit by a creditor resulting in a consumer debt with an applicable annual percentage rate (APR), including related costs and fees, that exceeds, at any time while the credit is outstanding, the lesser of: (1) the sum of 15% and the yield on U.S. Treasury securities having a 30-year period of maturity; or (2) 36%. Excludes the petition for relief of a debtor with any debts arising from a high cost consumer credit transaction from mandatory consideration for dismissal, or conversion to a case under chapter 11 or 13, based upon a finding of substantial abuse.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2009-01-22 00:00:00

First-Time Homebuyers' Tax Credit Act of 2009 - Amends the Internal Revenue Code to allow an individual taxpayer who qualifies as a first-time homebuyer (i.e., an individual who had no ownership interest in a principal residence within the past two years) a one-time refundable credit for up to $20,000 of the purchase price of a principal residence. Reduces such credit for taxpayers with adjusted gross incomes exceeding $75,000 ($150,000 for married couples filing jointly).
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2009-02-04 00:00:00

Real Estate Mortgage Investment Conduit Improvement Act of 2009 - Establishes special rules for modification or disposition of a troubled asset (qualified mortgages or foreclosure property) under the Troubled Asset Relief Program (TARP) by real estate mortgage investment conduits (REMICs). Declares that: (1) such a modification or disposition shall not be treated as a prohibited transaction under the Internal Revenue Code; (2) an interest in the REMIC shall not fail to be treated as a regular interest solely because of such modification or disposition; and (3) any proceeds resulting from such modification or disposition shall be treated as amounts received under qualified mortgages. Specifies terms of the instruments governing the conduct of servicers or trustees with respect to qualified mortgages which shall terminates a REMIC. Directs the Secretary of the Treasury to establish and implement a home mortgage loan relief program under TARP.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-02-06 00:00:00

Credit Card Reform Act of 2009 - Amends the Fair Credit Reporting Act to permit a consumer reporting agency to furnish a consumer report in connection with any credit or insurance transaction that is not initiated by the consumer only if the report indicates that the consumer is age 21 or older. Allows 18-year olds to elect to have their name and address included in any agency list. Amends the Truth in Lending Act to prohibit a credit card issuer from changing the terms of a credit card under an open end consumer credit plan: (1) before the scheduled contract expiration or renewal date; and (2) until the issuer has published all contract changes in any mandatory disclosures. Establishes a cardholder right to repay all existing balances on a terminated or expired credit card account under the terms of the account in effect before the termination or expiration.Imposes limits upon increases of interest rates and finance charges on a credit card account before its scheduled renewal date.Permits an increase in the annual percentage rate (APR) as a penalty only for specific, material contract violations of a consumer directly related to the account that are specified in the contract as grounds for an increase. Bans retroactive rate increases.Prohibits a credit card issuer from imposing adverse consequences for late payment if the cardholder's payment is postmarked or initiated by electronic funds transfer on or before the required postmark date. Requires a credit card issuer to verify, when the account is opened or the credit limit increased, that the consumer will be able to make the scheduled payments, based on a consideration of current and expected income, current obligations, and employment status.Amends the Fair Credit Reporting Act to redefine "firm offer of credit or insurance" to require the offer to specify all material terms, including APR, fees, and the applicable amount of credit or credit limit.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-02-09 00:00:00

Universal Default Prohibition Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from: (1) using any adverse information concerning any consumer, including any in a consumer report or any change in the consumer's credit score, as the basis for increasing any annual percentage rate of interest (APR) for a credit card account of the consumer's under an open end consumer credit plan; or (2) removing or increasing any introductory APR for that account, for reasons other than actions or omissions of the consumer directly related to the account. Requires such limitation on the use of adverse information to be clearly and conspicuously described to the consumer by the credit card issuer.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-03-30 00:00:00

Consumer Rental-Purchase Agreement Act of 2009 - Amends the Consumer Credit Protection Act to prescribe consumer protection guidelines for rental-purchase transactions, including: (1) the determination of rental-purchase cost; (2) disclosure requirements; (3) prohibitions against confessions of judgment, wage assignments, and waiver of consumer claims or defenses; (4) furnishing of statements of account; (5) point-of-rental disclosures; and (6) rental-purchase advertising disclosures.Declares that an action for civil liability may be brought against a merchant's assignee only if the violation is apparent on the face of a rental-purchase agreement to which it relates, including, but not limited to, a disclosure that can be determined to be incomplete or inaccurate from the face of the agreement. Authorizes the Board of Governors of the Federal Reserve System to promulgate implementing regulations. Grants enforcement powers to the Federal Trade Commission and to state attorneys general. Subjects to criminal penalties any willful and knowing violation of the information disclosure requirements of this Act.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-04-22 00:00:00

Debt Reduction Priority Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require the Secretary of the Treasury to establish a procedure for: (1) depositing in the General Fund of the Treasury amounts received for repayment of financial assistance or payment of interest on the receipt of such assistance by an entity under the Troubled Asset Relief Program (TARP) or any program enacted by the Secretary under the authorities granted under such Act, including the Capital Purchase Program; and (2) dedication of any such amounts so received for the sole purpose of debt reduction.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-04-22 00:00:00

Debt Reduction Priority Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to require the Secretary of the Treasury to deposit in the Public Debt Reduction Payment Account (established by this Act) amounts received for repayment of financial assistance or payment of interest on the receipt of such assistance by an entity under the Troubled Asset Relief Program (TARP) or any program enacted by the Secretary under the authorities granted under such Act, including the Capital Purchase Program. Requires the Secretary to use amounts in the Account to pay at maturity, or to redeem or buy before maturity, any obligation of the government held by the public and included in the public debt. Reduces the public debt limit by the aggregate of amounts deposited into the Account. Excludes receipts and disbursements of the Account from consideration as new budget authority, outlays, receipts, or deficit or surplus for purposes of the President's budget, the congressional budget, or the Balanced Budget and Emergency Deficit Control Act of 1985. Requires outlays and receipts of the Account to be excluded from any official statement of budget surplus or deficit totals issued by the Office of Management and Budget (OMB), the Congressional Budget Office (CBO), or any other federal agency or instrumentality.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2009-04-27 00:00:00

Credit Card Safety Star Act of 2009 - Amends the Truth in Lending Act to direct the Board of Governors of the Federal Reserve System to promulgate rules to implement a Safety Star System, with one to five stars, to allow consumers to compare quickly and easily the terms, conditions, and levels of safety associated with various open end credit plan agreements. Specifies a point structure for rating credit cards. Assigns an automatic one-star rating (the lowest level of safety) to any open end credit plan that allows the card issuer to modify the terms of the agreement with a cardholder at any time or periodically for unspecified or unstated reasons. Establishes the Credit Card Safety Star Advisory Commission.