jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-03-14 00:00:00

Mutual Bank Choice and Continuity Act of 2014 - Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue mutual capital certificates that qualify as common equity Tier 1 capital for purposes of capital requirements mandated by federal law or regulation.

Defines "mutual capital certificate" as a financial instrument issued by a mutual depository that entitles the holder to a payment of fixed, variable, or participating dividends but no voting or member rights, nor is it redeemable until five years after issuance.

Defines "mutual depository" as an insured depository institution operating in a non-stock form, including a federal non-stock depository and any form of non-stock depository provided for under state law, whose deposits are insured by an instrumentality of the federal government.

Amends the Revised Statutes of the United States to authorize the Comptroller of the Currency to charter mutual national banks either de novo or through conversion of an insured depository institution or insured credit union, in order to establish mutual institutions operating in non-stock form for the deposit of funds, the extension of credit, and other services.

Prescribes procedures for voluntary conversion of: (1) a mutual depository to a mutual national bank, (2) a mutual national bank to a stock national bank, or (3) a mutual national bank to a state national bank operating in stock form.

Prescribes procedures for: (1) a mutual national bank to reorganize as a federal mutual bank holding company, and (2) a mutual bank holding company organized under state law to convert to a federal mutual bank holding company.

Permits a mutual national bank to retain capital at the holding company level in order to comply with the capital requirements of the Board of Governors of the Federal Reserve System.

Grants a tax liable depositor in a savings, demand, or other authorized depository account in a depository institution subsidiary the same rights regarding the federal mutual bank holding company as that depositor would have had if the depository institution subsidiary had been a mutual national bank.

Subjects a federal mutual bank holding company to Federal Reserve Board regulation and supervision.

Prescribes procedures for a federal mutual bank holding company governing: (1) capital improvement, and (2) insolvency and liquidation.

Permits a mutual holding company, including any form of mutual depository holding company under state law, to convert to federal mutual bank holding company status.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-04-03 00:00:00

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Money Remittances Improvement Act of 2014 - Authorizes the Secretary of the Treasury, with respect to compliance with reporting requirements for monetary instrument transactions of financial institutions, to rely upon examinations conducted by a state supervisory agency of a category of financial institution if: (1) the category is required to comply with federal requirements, or (2) the state supervisory agency examines the category for compliance with federal requirements.

Instructs the Secretary to consult with state supervisory agencies when issuing rules to implement this Act.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-04-03 00:00:00

FSOC Transparency and Accountability Act - Amends the Financial Stability Act of 2010 to repeal the nonapplicability of the Federal Advisory Committee Act (FACA) to the Financial Stability Oversight Council (thus applying FACA to the Council).

Declares the Council an agency for purposes of the "Government in the Sunshine Act" (and its open meeting requirements).

 Revises the voting profile of Council members to single out the following member agencies as each having collectively one vote: (1) the Board of Governors of the Federal Reserve System, (2) the Securities and Exchange Commission (SEC), (3) the Federal Deposit Insurance Corporation (FDIC), (4) the Commodity Futures Trading Commission (CFTC), and (5) the National Credit Union Administration (NCUA) Board.

Directs such member agencies to: (1) determine their Council vote by using the voting process normally applicable to votes by their members, and (2) cast the one collective Council vote by the agency head.

Permits any Council member to select to have one or more individuals on the member's staff attend a meeting of the Council, including any meeting of representatives of the member agencies other than the members themselves.

Requires all Council meetings to be open to attendance and participation by members of specified congressional committees, including any meeting of representatives of the member agencies other than the members themselves.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-04-29 00:00:00

Insurance Capital Standards Clarification Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act concerning establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System (Board).

States that federal banking agencies shall not be required to subject any person to such minimum capital requirements, to the extent that such person either: (1) acts in its capacity as a regulated insurance entity regulated by a state insurance regulator, or (2) is a regulated foreign subsidiary engaged in the business of insurance (including a regulated foreign affiliate of such subsidiary).

Exempts from any requirement to prepare holding company financial statements in accordance with Generally Accepted Accounting Principles any Board-supervised depository institution holding company or nonbank financial company that is also a person regulated by a state insurance regulator or a regulated foreign subsidiary (or a regulated foreign affiliate) that files its holding company financial statements using only Statutory Accounting Principles in accordance with state law.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-04-30 00:00:00

Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to authorize the Financial Stability Oversight Council to determine that a bank holding company shall be subject to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System, if the Council makes a final determination that material financial distress at the bank holding company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities could threaten the financial stability of the United States.

 Subjects bank holding companies with total consolidated assets of $250 billion or more to such enhanced supervision and prudential standards.

Directs the Council to: (1) review each bank holding company with total consolidated assets of between $50 billion and $250 billion in order to determine whether to subject such company to such enhanced Board supervision and prudential standards; and (2) re-review within 36 months any company not subjected to enhanced Board supervision and prudential standards, or sooner if its activities have significantly changed and it might pose a threat to U.S. financial stability.

Expresses the sense of Congress that: (1) consolidated asset size is only one of many factors to be considered in determining systemic risk; and (2) specified processes identified in Dodd-Frank (as modified by this Act) represent a more accurate indicator of systemic risk.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-05-01 00:00:00

Policyholder Protection Act of 2014 - Amends the Federal Deposit Insurance Act to declare that any regulation, order, or other action of the Board of Governors of the Federal Reserve System that requires a bank holding company to provide funds or other assets to a subsidiary depository institution shall not be effective nor enforceable with respect to an entity that is a savings and loan holding company that is also an insurance company, an affiliate of an insured depository institution that is an insurance company, or any other company that is an insurance company and that directly or indirectly controls an insured depository institution if: (1) such funds or assets are to be provided by the entity, and (2) the state insurance authority for the insurance company determines that such an action would have a materially adverse effect on the entity's financial condition.Declares further that requiring a bank holding company that is an insurance company or such an entity to serve as a source of financial strength shall be deemed the kind of action of the Board to which this Act applies.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-05-09 00:00:00

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

SAFE Act Confidentiality and Privilege Enhancement Act - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to extend to state and federal regulatory officials having financial services oversight authority (currently only those having mortgage oversight authority) access to any information provided to the Nationwide Mortgage Licensing System and Registry (or any system established by the Director of the Consumer Financial Protection Bureau [CFPB]) without the loss of privilege or confidentiality protections provided by federal and state laws.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-05-30 00:00:00

Relief for America's Main Street Lenders Act - Amends the Commodity Exchange Act, the Securities Exchange Act of 1934, the Electronic Fund Transfer Act, and the Dodd-Frank Wall Street Reform and Consumer Protection Act to exclude from the definition of financial entity, solely with respect to an interest rate swap or interest rate security-based swap, financial institutions whose total assets are $50 billion or less.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-06-17 00:00:00

Establishes a six-month moratorium during which the Financial Stability Oversight Council is prohibited from making a determination under the Financial Stability Act of 2010 that a U.S. nonbank financial company shall be supervised by the Board of Governors of the Federal Reserve System and be subject to prudential standards, if the Council determines that material financial distress at the company (or its nature, scope, size, scale, concentration, interconnectedness, or mix of activities) could pose a threat to the financial stability of the United States.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-07-09 00:00:00

The Office of Financial Research Accountability Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to require the Director of the Office of Financial Research to publish annually, after a period of 60 days for public notice and comment, a detailed work plan concerning the Office priorities for the upcoming fiscal year.

Requires the Office to develop and implement a cybersecurity plan using adequate safeguards to protect the integrity and confidentiality of the data in Office possession.

Directs the Comptroller General (GAO) to audit annually the cybersecurity plan and its implementation.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-07-23 00:00:00

Financial Stability Oversight Council Improvement Act of 2014 - Amends the Financial Stability Act of 2010 to subject the Financial Stability Oversight Council (Council) to the Administrative Procedure Act.

Requires the Council to make publicly available any final report study or analysis it has prepared, unless exempt from disclosure.

Requires the Council, when determining whether to subject a U.S. or a foreign nonbank financial company to supervision by the Board of Governors of the Federal Reserve System and to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.

Requires the Council, when reevaluating determinations with respect to a nonbank financial company under Federal Reserve Board supervision, to provide written notice to the company and afford it opportunity to submit written materials to contest the determination.

Directs the Council, upon identifying a nonbank financial company for comprehensive analysis of its potential to pose a threat to U.S. financial stability, to provide: (1) written notice that explains with specificity the basis for the identification, and (2) an opportunity to submit written materials for Council consideration.

Prescribes procedural requirements for proposed determinations and final decisionmaking by the Council, including periodic review of individual determinations.

Directs the Council every five years to study: (1) the impact of its determinations to subject nonbank financial companies to Federal Reserve Board supervision and prudential standards, and (2) whether such determinations have the intended result of improving domestic financial stability.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2014-07-24 00:00:00

Municipal Bond Market Support Act of 2014 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that a small issuer may issue, and (2) allow an inflation adjustment to such increased limit amount after 2014.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2014-07-30 00:00:00

Young Savers Security in Retirement Act of 2014 - Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 18, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows the tax credit for retirement savings for contributions to a young savers account. Directs the Secretary of the Treasury to pay any overpayment of tax that is attributable to the tax credit for retirement savings to the taxpayer's young savers account.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-07-31 00:00:00

Amends the S.A.F.E. Mortgage Licensing Act of 2008 to direct the Attorney General to provide appropriate state officials responsible for regulating financial service providers or related businesses (in addition to state officials responsible for regulating state-licensed loan originators) with access to criminal history information to the extent that criminal history background checks are required under state law for the licensing of such parties.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-11-20 00:00:00

State Regulatory Representation Clarification Act of 2014 - Amends the Federal Deposit Insurance Act to require that one of the presidential appointees to the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) once served as a state bank supervisor.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-11-20 00:00:00

Financial Institution Customer Protection Act of 2014 - Prohibits a federal banking agency from suggesting, requesting, or ordering a depository institution to terminate a specific customer account, or otherwise restrict or discourage it from entering into or maintaining a banking relationship with a specific customer, unless: (1) the agency has a material reason to do so, and (2) the reason is not based solely on reputation risk.

Prescribes requirements for notice from the federal banking agency to the depository institution about such a customer account restriction or termination; but states that notice to the customer is not required.

Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to revise requirements for summoning witnesses and requiring production of books or other records the Attorney General deems relevant or material to a civil investigation in contemplation of a civil proceeding which may result in civil penalties for specified violations.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2014-12-03 00:00:00

Small Financial Institutions Regulatory Relief Act of 2014 - Amends the Truth in Lending Act (TILA), with respect to minimum standards for residential mortgage loans and the presumption of ability to repay, to treat as a "qualified mortage" any residential mortgage loan made by a creditor having less than $10 billion in total assets, so long as the loan is originated and retained in creditor's portfolio for the duration of the loan term.

Directs the Consumer Financial Protection Bureau (CFPB) to exempt a creditor with assets of less than $10 billion from the requirement to establish escrow or impound accounts for the payment of taxes and hazard insurance before consummating a consumer credit transaction secured by a first lien on the principal dwelling of the consumer.

Amends the Real Estate Settlement Procedures Act of 1974 to direct the CFPB to provide either exemptions to, or adjustments from, its mortgage loan servicing and escrow account administration requirements for servicers that service fewer than 10,000 mortgage loans annually.

Amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement a financial institution that: (1) provides nonpublic personal information only in accordance with specified requirements, and (2) has not changed its policies and practices with regard to disclosing nonpublic personal information from those disclosed in its most recent disclosure to consumers.

Directs the Board of Governors of the Federal Reserve System to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on the Assessment of Financial and Managerial Factors that: (1) apply that policy to bank holding companies having pro forma consolidated assets of less than $5 billion (adjusted annually), no engagement in nonbanking activities involving significant leverage, and no significant amount of outstanding debt; and (2) increase from 1.1 to 3.1 the debt-to-equity ratio allowable for a small bank holding company in order to retain its eligibility both to pay a corporate dividend and to implement expedited processing procedures under the Board's Regulation Y.

Amends the Federal Reserve Act to require the Board to have at all times at least one member with demonstrated experience working in or supervising community banks having less than $10 billion in total assets.

Directs the CFPB to establish an application process under which a person who lives or does business in a state may apply to have an area in the state identified as rural if it has not yet been so designated for purposes of federal consumer financial law.

Prescribes criteria for the CFPB to consider when evaluating an application. Requires the CFPB to: (1) grant or deny the application within 90 days after the public comment period ends; and (2) publish the grant or denial in the Federal Register.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2013-02-27 00:00:00

Financial Takeover Repeal Act of 2013 - Repeals the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Revives or restores the provisions of law amended by such Act as if it had not been enacted.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2013-01-23 00:00:00

Terminating the Expansion of Too-Big-To-Fail Act of 2013 - Amends the Financial Stability Act of 2010, title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the Federal Deposit Insurance Act, and the Federal Reserve Act to eliminate all supervision by the Board of Governors of the Federal Reserve System (Board) of domestic and foreign nonbank financial companies, including new or heightened standards and safeguards and minimum leverage capital requirements.

Eliminates the duty of the Financial Stability Oversight Council to identify systemically important financial market utilities and payment, clearing, and settlement activities.

Repeals the authority of the Council, acting through the Office of Financial Research, to: (1) require the submission of periodic and other reports from any domestic or foreign nonbank financial company, or (2) request the Board to examine a U.S. nonbank financial company for the sole purpose of determining whether it should be Board-supervised.

Repeals specified additional Board authority to supervise certain nonbank financial companies, including the prohibition against management interlocks between such companies and certain other financial companies.

Repeals the requirement that the Board study and report to Congress on: (1) specified issues with respect to the resolution of financial companies under chapter 7 (Liquidation) or 11 (Reorganization) of the Bankruptcy Code, and (2) international coordination relating to the resolution of systemic financial companies under the U.S. Bankruptcy Code and applicable foreign law.

Repeals the authority of the Council to recommend to the Board: (1) prudential standards and reporting and disclosure requirements for Board-supervised nonbank financial companies, and (2) any requirement that each nonbank financial company report periodically the company's credit exposure as well as its plan for rapid and orderly resolution in the event of material financial distress or failure.

Repeals the requirement that the Council study the feasibility, benefits, costs, and structure of a contingent capital requirement for Board-supervised nonbank financial companies.

Eliminates reporting requirements for such companies.

Repeals the Payment, Clearing, and Settlement Supervision Act of 2010 (title VIII of Dodd-Frank).
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2013-02-04 00:00:00

Federal Reserve Transparency Act of 2013 - Directs the Comptroller General (GAO) to: (1) complete, within 12 months of enactment of this Act, the required audit of the Board of Governors of the Federal Reserve System (Board) and of the Federal Reserve Banks; and (2) submit to Congress, within 90 days of audit completion, a detailed report of audit findings and conclusions.

Repeals certain limitations placed upon such audit.

Instructs the Comptroller General (GAO) to audit and report on the review of loan files of homeowners in foreclosure in 2009 or 2010, required as part of the enforcement actions taken by the Board against supervised financial institutions. Prescribes audit contents, including: (1) the guidance given by the Board to independent consultants retained by the supervised financial institutions regarding procedures to be followed in conducting the file reviews, (2) the factors considered by independent consultants when evaluating loan files and the results obtained pursuant to those reviews, and (3) the determinations made by such consultants regarding the nature and extent of financial injury sustained by each homeowner as well as the level and type of remediation offered.