jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-07-14 00:00:00

Bank Service Company Examination Coordination Act of 2016

This bill amends the Bank Service Company Act to allow the appropriate federal banking agency with respect to the principal shareholder or principal member of a bank service company to authorize a state banking agency (in addition to any other federal banking agency, as under current law) that supervises any other shareholder or member to make an examination of the bank service company.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-07-14 00:00:00

This bill amends the Federal Credit Union Act to require the National Credit Union Administration (NCUA) Board to submit annually with its detailed business-type budget a report that contains: (1) an analysis of the NCUA's operating expenses and the extent to which those expenses are funded by assessment fees collected from federal credit unions or amounts transferred from the National Credit Union Share Insurance Fund (NCUSIF), and (2) a supporting rationale for proposals to use amounts in the NCUSIF for operating expenses.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-09-09 00:00:00

Financial CHOICE Act of 2016

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, among other Acts, to:

 repeal the "Volcker Rule" (which restricts banks from making certain speculative investments); with respect to winding down failing banks, eliminate the Federal Deposit Insurance Corporation's orderly liquidation authority and establish new provisions regarding financial institution bankruptcy; and repeal the "Durbin Amendment" (which limits the fees that may be charged to retailers for debit card processing). Certain banks may exempt themselves from specified regulatory standards if they maintain a certain ratio of capital to total assets and meet other specified requirements.

The bill removes the Financial Stability Oversight Council's authority to designate non-bank financial institutions and financial market utilities as "systemically important" (also known as "too big to fail"). Under current law, entities so designated are subject to additional regulatory restrictions. Designations made previously are retroactively repealed. 

The bill also amends the Consumer Financial Protection Act of 2010 to:

 restructure the Consumer Financial Protection Bureau by replacing its director with a bipartisan commission; subject the commission to the congressional appropriations process, expanded judicial review, and additional congressional oversight; and limit the commission's authority to take action against entities for "abusive" practices. In addition, the bill:

 modifies provisions related to the Securities and Exchange Commission's managerial structure and enforcement authority; eliminates the Office of Financial Research within the Department of the Treasury; and revises provisions related to capital formation, insurance regulation, civil penalties for securities laws violations, and community financial institutions.
Topic: Domestic Commerce — Banking
Subject: Commerce
Date: 2016-09-21 00:00:00

Communicating Lender Activity Reports from the Small Business Administration Act or the CLEAR SBA Act

This bill amends the Small Business Act to define "covered loan" as a loan made or debenture issued under the Act or the Small Business Investment Act of 1958 by a private individual or entity.

The bill requires the Small Business Administration to make publicly available on its website a Lender Activity Index (i.e., a user-friendly database of specified information relating to lenders making covered loans).

The SBA shall: (1) include in the database information relating to covered loans made during FY2009-FY2015, and (2) incorporate information related to such loans on an ongoing basis.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-09-22 00:00:00

Financial Services Innovation Act of 2016

This bill requires specified federal departments and agencies (agencies) to periodically publish in the Federal Register a nonexclusive list identifying three or more areas of existing regulation:

 that apply or may apply to a financial innovation offered or intended to be offered by a covered person, and that the agency would consider modifying or waiving if it were to receive a petition from the covered person in accordance with this bill relating to that regulation. The bill defines "a covered person" as a person that offers or intends to offer a financial innovation by submitting a petition to a Financial Services Innovation Office (FSIO) at one or more agencies.

Each agency shall establish its own FSIO to:

 promote financial innovations, and assist covered persons whose petitions have been approved pursuant to this bill. Each agency, through its FSIO, shall:

 support the development of financial innovations; coordinate with FSIOs at other agencies to share information and data; and establish procedures to reduce the time and cost of offering a financial innovation to the public and enable greater access to financial innovations. The agencies shall create a FSIO Liaison Committee which shall consult on the administration, coordination, and oversight of each agency's FSIO.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-09-22 00:00:00

Protect Prepaid Accounts Act of 2016

This bill amends the Federal Deposit Insurance Act to state that prepaid funds deposited by an agent or nominee in an insured depository institution shall satisfy the requirements of the primary exclusion from the definition of deposit broker, unless that agent or nominee controls the deposits and has the contractual right to cause the transfer of those deposits to another insured depository institution selected by the agent or nominee. (Generally, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit into one or more deposit accounts.)

The bill defines "prepaid funds" as funds deposited through a prepaid program or made available from a card, code, or other device that is not otherwise an account established primarily for personal, household, or family purposes, where the device is:

 issued on a prepaid basis to a consumer in a specified amount, or is not issued on a prepaid basis but capable of being loaded with funds; and redeemable at multiple unaffiliated merchants for goods or services or usable at automated teller machines or for person-to-person transfers.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-09-28 00:00:00

This bill amends the Federal Deposit Insurance Act to require the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve Board to treat non-significant investments in the capital of unconsolidated financial institutions as qualifying capital instruments, provided such instruments were held as investments prior to July 21, 2010, for purposes of the final rules entitled "Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Capital Adequacy, Transition Provisions, Prompt Corrective Action, Standardized Approach for Risk-Weighted Assets, Market Discipline and Disclosure Requirements, Advanced Approaches Risk-Based Capital Rule, and Market Risk Capital Rule" (Basel III Capital Regulations), published on October 11, 2013.

The OCC, the FDIC, and the Federal Reserve Board must amend such Basel III Capital Regulations to implement this bill.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-09-28 00:00:00

This bill amends the Federal Deposit Insurance Act to exclude from the definition of "deposit broker" an affiliate of an insured depository institution, with respect to funds of an individual retirement account, pension, retirement, profit-sharing, bonus, thrift savings, incentive, or other similar benefit plan for which the depository institution acts as custodian or directed trustee, to the extent the affiliate provides brokerage, advisory, or agency services to participants or beneficiaries of the benefit plan and the services result in the investment of its assets as deposits of the depository institution.

(Generally, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit into one or more deposit accounts.)

Consumer credit Information regarding deposit accounts shared by an insured depository institution with its affiliates that is a communication among persons related by common ownership or affiliated by corporate control shall not be a factor in determining whether: (1) an affiliate is considered a deposit broker, or (2) deposits resulting from referrals of customers to an affiliate are subject to the brokered deposit restrictions.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-11-18 00:00:00

Systemic Risk Designation Improvement Act of 2016

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC 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. This FSOC determination procedure replaces the current process under which bank holding companies with total consolidated assets of $50 billion or more are automatically subject to such enhanced supervision and prudential standards.

FSOC's determination must be based upon specified factors, using an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance.

A bank holding company designated as a Global Systemically Important Bank by the Financial Stability Board, as of this bill's enactment, shall be deemed to have been the subject of a final determination that it could pose a threat to U.S. financial stability for any of those reasons.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2016-11-18 00:00:00

Systemic Risk Designation Improvement Act of 2016

This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to authorize the Financial Stability Oversight Council (FSOC) to subject a bank holding company to enhanced supervision and prudential standards by the Board of Governors of the Federal Reserve System if FSOC 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. This FSOC determination procedure replaces the current process under which bank holding companies with total consolidated assets of $50 billion or more are automatically subject to such enhanced supervision and prudential standards.

FSOC's determination must be based upon specified factors, using an indicator-based measurement approach established by the Basel Committee on Banking Supervision to determine systemic importance.

A bank holding company designated as a Global Systemically Important Bank by the Financial Stability Board, as of this bill's enactment, shall be deemed to have been the subject of a final determination that it could pose a threat to U.S. financial stability for any of those reasons.

A bank holding company with total consolidated assets of $50 billion or more on the date of the enactment of this bill may elect to be subject to enhanced supervision and prudential standards by notifying FSOC within one year after this bill's enactment.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2015-01-07 00:00:00

Financial Takeover Repeal Act of 2015

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: 2015-01-07 00:00:00

Terminating the Expansion of Too-Big-To-Fail Act of 2015

 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: 2015-02-04 00:00:00

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), without the loss of privilege or confidentiality protections provided by federal and state laws.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2015-02-12 00:00:00

Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2015

 Amends the Consumer Financial Protection Act of 2010 to raise the examination threshold that brings an insured depository institution or insured credit union within its supervisory purview from assets of $10 billion or more to assets of $50 billion or more.

Increases from assets of $10 billion or less to assets of $50 billion or less the size of an insured depository institution or insured credit union that is subject to the Act's reporting requirements.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2015-03-12 00:00:00

Community Financial Protection Act of 2015

 Amends the Consumer Financial Protection Act of 2010 to require the Director of the Consumer Financial Protection Bureau (CFPB) to request reports through the prudential regulator from a person that is either an insured depository institution or an insured credit union with total assets of $10 billion or less (persons).

Prohibits the Director from making such requests for an industry-wide report, or for a report pertaining to two or more such persons.

Requires the Director, as a prerequisite to making such request, to make a showing to the prudential regulator that publicly available information pertaining to such person(s) is insufficient for the purposes of either: (1) supporting the role of the CFPB in implementing federal consumer financial laws; (2) supporting examination activities of the CFPB; or (3) risk assessment and detection concerning consumers and consumer financial markets.

Authorizes the prudential regulator to deny any request for a report or information made by the Director with respect to such persons.

Requires the prudential regulator who fulfills the Director's request for a report to do so with reports that have been furnished to a federal or state agency (or are required to have been furnished to a federal or state agency.

Instructs the Director to accept existing reports in formats consistent with those submitted to the prudential regulator and federal and state agencies if the prudential regulator has determined that they provide the information requested.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2015-03-18 00:00:00

Financial Institutions Examination Fairness and Reform Act 

Amends the Federal Financial Institutions Examination Council Act of 1978 to require a federal financial institutions regulatory agency to make a final examination report to a financial institution within 60 days of the later of: (1) the exit interview for an examination of the institution, or (2) the provision of additional information by the institution relating to the examination.

Sets a deadline for the exit interview if a financial institution is not subject to a resident examiner program.

Sets forth examination standards for financial institutions.

 Establishes in the Federal Financial Institutions Examination Council the Office of Independent Examination Review, headed by a Director appointed by the Council.

Grants a financial institution the right to appeal a material supervisory determination contained in a final report of examination.

Requires the Director to determine the merits of the appeal on the record, or, at the election of the financial institution, refer the appeal to an administrative law judge.

Declares the decision by the Director on an appeal to: (1) be the final agency action, and (2) bind the agency whose supervisory determination was the subject of the appeal and the financial institution making the appeal.

Grants a financial institution the right to petition for judicial review of the Director's decision.

Amends the Riegle Community Development and Regulatory Improvement Act of 1994 to require: (1) the Consumer Financial Protection Bureau (CFPB) to establish an independent intra-agency appellate process in connection with the regulatory appeals process; and (2) appropriate safeguards to protect an insured depository institution or insured credit union from retaliation by either the CFPB, the National Credit Union Administration Board, or any other federal banking agency for exercising its rights.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2015-03-19 00:00:00

Community Lending Enhancement and Regulatory Relief Act of 2015 or the CLEAR Relief Act of 2015

 Amends the Sarbanes-Oxley Act of 2002 to exempt from its rules regarding management assessment of internal controls the following institutions which, as of the end of the preceding fiscal year, had total consolidated assets of $1 billion or less (adjusted annually according to a certain formula): (1) a bank holding company, (2) a savings and loan holding company, or (3) an insured depository institution.

Amends the Truth in Lending Act (TILA) to require the Consumer Financial Protection Bureau (CFPB) to exempt from requirements governing escrow or impound accounts affecting certain consumer credit transactions any loans secured by a first lien on the principal dwelling of a consumer, if such loans are held by an insured depository institution having assets of $10 billion or less.

Includes as a qualified mortgage, with respect to the presumption that a qualified residential mortgage loan meets certain minimum standards, any mortgage loan originated and retained in portfolio for at least three years by a depository institution having less than $10 billion in total assets.

Requires the CFPB (which currently is merely authorized) to provide by regulation that a "qualified mortgage" includes a balloon loan extended by an insured depository institution that: (1) originates and retains balloon loans in portfolio for at least three years, and (2) together with its affiliates has less than $10 billion in total consolidated assets.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2015-03-26 00:00:00

Comprehensive Regulatory Review Act of 2015

This bill amends the Economic Growth and Regulatory Paperwork Reduction Act of 1996 to specify the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, and the National Credit Union Administration Board as the federal agency representatives on the Federal Financial Institutions Examination Council which are required, along with the Council, to review all Council-prescribed regulations at least once every 10 years in order to identify outdated or unnecessary regulatory requirements imposed upon financial institutions (currently, only insured depository institutions).

 This decennial review shall include all regulations issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2015-04-14 00:00:00

National Credit Union Administration Budget Transparency Act

This bill amends the Federal Credit Union Act to require the National Credit Union Administration Board, before the annual submission of its required detailed business-type budget, to: (1) print a draft of the budget in the Federal Register; (2) hold a public hearing to receive comments from the public on the draft; and (3) include in the required integral set of accounts statements in which the budget will address any of such comments.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2015-04-14 00:00:00

CLEAR Plus Act of 2015

This bill amends the Securities Exchange Act of 1934 to: (1) subject a savings and loan holding company to registration requirements for securities whose issuer has total assets exceeding $10 million and a class of non-exempt equity security held of record by 2,000 or more persons; and (2) apply the automatic termination of registration, and suspension of the duty to file supplementary and periodic information, to a savings and loan holding company whose securities are found to be held by less than 1,200 persons.

The Federal Deposit Insurance Act is amended to require the federal banking agencies to issue regulations allowing for a reduced reporting requirement for certain depository institutions when making the first and third report of condition for a year. These reporting requirements apply to any insured depository institution that:

 as of the most recent examination has a CAMELS composite rating of 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system) for capital adequacy, assets, management capability, earnings, liquidity or asset liability management, and sensitivity to market risk; and satisfies other appropriate criteria as such agencies determine.