jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-11-17 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. Prohibits federal financial institutions regulatory agencies from requiring a well capitalized financial institution to raise additional capital in lieu of an action prohibited by the examination standards. Establishes in the Federal Financial Institutions Examination Council an Office of Examination Ombudsman. Grants a financial institution the right to appeal a material supervisory determination contained in a final report of examination. Requires the Ombudsman to determine the merits of the appeal on the record, after an opportunity for a hearing before an independent administrative law judge. Declares the decision by the Ombudsman 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. 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 the CFPB, the National Credit Union Administration (NCUA) Board, or any other federal banking agency for exercising its rights.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-12-01 00:00:00

Security in Bonding Act of 2012 - Revises requirements related to assets pledged by a surety. Declares that if another applicable law or regulation permits the acceptance of a bond from a surety that is not subject to specified federal law, and is based on a pledge of assets by the surety, the assets pledged by such surety shall: (1) consist of eligible obligations given as security instead of surety bonds; and (2) be submitted to the government official required to approve or accept the bond, who shall deposit the assets with a depository (the Secretary of the Treasury, a federal reserve bank, or a depository designated by the Secretary). Requires the Comptroller General to study: (1) all instances during the 10-year period before the enactment of this Act in which a surety bond proposed or issued by a surety in connection with a federal project was rejected by a federal contracting officer, or accepted but was later found to have been backed by insufficient collateral or to be otherwise deficient or with respect to which the surety did not perform; (2) the consequences to the federal government, subcontractors, and suppliers of such instances, and (3) the percentages of all federal contracts that were awarded to small disadvantaged businesses and disadvantaged business enterprises as prime contractors in the two-year period before and after the enactment of this Act, and an assessment of its impact upon such percentages.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-12-07 00:00:00

Amends the Internal Revenue Code to classify as an administrative expense for purposes of the Federal Unemployment Tax Act (FUTA) fees in connection with the use of electronic benefit transfer debit cards, thus prohibiting a state from deducting such fees from unemployment compensation payments made with state unemployment tax funds.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2011-12-20 00:00:00

Faith-Based Lending Protection Act - Amends the Federal Credit Union Act to exempt loans made to nonprofit religious organizations from the limitations on the volume of loans credit unions can make to businesses.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2012-01-31 00:00:00

Narrowing Exceptions for Withholding Taxes Act of 2012 - Amends the Internal Revenue Code and title II (Old-Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to require a shareholder of a subchapter S corporation engaged in a professional service business to include all items of income or loss attributable to such business in determining such shareholder's net earnings from self-employment for purposes of computing employment tax liability. Defines a "professional service business" as any trade or business substantially all of the activities of which involve providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-02-09 00:00:00

Capital Access for Small Businesses and Jobs Act - Amends the Federal Credit Union Act to empower federal credit unions to receive payments, representing equity, on certain uninsured non-share capital accounts, subject to such terms, rates, and conditions as may be established by the board of directors, within limitations prescribed by the National Credit Union Administration Board (Board). Requires any system of prompt corrective action for insured credit unions that the Board prescribes to take into account that credit unions rely predominantly upon retained earnings to build net worth. (Currently, insured credit unions must rely upon retained earnings to build net worth.) Redefines "net worth" with respect to any insured credit union (other than a low-income credit union) to include non-share capital accounts, as authorized by the Board, that: (1) do not alter the cooperative nature of the credit union; (2) are uninsured; (3) are subordinate to all other claims against the credit union, including the claims of creditors, shareholders, and the National Credit Union Share Insurance Fund; (4) are available to be applied to cover operating losses of the credit union in excess of its retained earnings and, to the extent so applied, will not be replenished; (5) are subject to maturity limits as determined by the Board; and (6) are offered by a credit union that is sufficiently capitalized and well-managed.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-02-13 00:00:00

Amends the Federal Deposit Insurance Act to make the Consumer Financial Protection Bureau (CFPB) a "covered agency" that may share information with another covered agency or any other federal agency without waiving any privilege applicable to the information. Prohibits information submitted to the CFPB in the course of its supervisory or regulatory process from being construed as waiving, destroying, or affecting any privilege that may be claimed with respect to such information under federal or state law as to any person or entity other than the CFPB, another federal banking agency, a state bank supervisor, or a foreign banking authority.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-02-14 00:00:00

Common Sense Economic Recovery Act of 2012 - 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.) Permits an insured depository institution to treat a non-accrual loan as an accrual loan if: (1) the loan is current, (2) no monthly payment has been more than 30 days delinquent during the previous 6-month period, and (3) loan payments are being made pursuant to the contract terms and all parties agree to any refinances and modifications. Prohibits a modified or restructured loan from being treated as a non-accrual loan if the borrower demonstrates the ability to perform on such a loan: (1) over a period of 6 months; or (2) over a period of 3 consecutive payments in the case of a quarterly, semi-annual, or longer repayment schedule. Prohibits the appropriate federal banking agency from: (1) 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 such requirement would adversely impact measurement of the institution's capital, or (2) requiring an insured depository institution to treat a loan as a non-accrual loan solely because the loan collateral has reduced in value. Excludes from the accounting requirements and prohibitions of this Act any issuer of a security registered under the Securities Exchange Act of 1934. 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: 2012-03-08 00:00:00

Credit Union Small Business Lending Act - Directs the Administrator of the Small Business Administration (SBA) to establish a dedicated process by which credit unions participating in a certain small business loan program may receive approvals and repurchases concerning program loan guarantees. Requires such process to: (1) be distinct from that used by participating non-credit unions, and (2) make use of existing agency resources. Amends the Small Business Act to direct the SBA Administrator to implement a program to: (1) provide outreach and assistance to credit unions to increase their participation in the SBA small business loan program, (2) simplify the application process for such participation, and (3) provide a guaranty of up to 85% for loans made by credit unions to their members in underserved areas.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-03-20 00:00:00

Mutual Community Bank Competitive Equality Act - 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 a conversion of any insured depository institution or any state mutual bank or credit union. Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue Mutual Investment Certificates, to be included as Tier 1 capital for purposes of any capital standards issued by an appropriate federal banking agency. Amends the Home Owners' Loan Act to: (1) prohibit any company or subsidiary, or any director, officer, employee, or person with voting power or holding proxies representing more than 25% of the voting shares of such company or subsidiary, from holding, soliciting, or exercising any proxies in respect of a mutual savings association with the intention to to control the association; and (2) allow an aggrieved association to bring a civil action to prevent such takeover attempts. Prohibits any company, subsidiary, director, officer, employee, or person owning, controlling, or holding with the power to vote, or holding proxies representing more than 25% of the voting shares of such a company or subsidiary, to hold, solicit, or exercise any proxies in respect of a mutual savings association with the view or intention to controlling or attempting to control it directly or indirectly. Prescribes conditions under which a mutual holding company or its stock subsidiary may: (1) contribute stock to a charitable foundation either the company or the stock subsidiary establishes, and (2) waive the right to receive any dividend declared by one of its subsidiaries. Requires the Board of Governors of the Federal Reserve to apply its Small Bank Holding Company Policy Statement to any mutual holding company that would otherwise qualify as a small bank holding company, if it were one.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-03-28 00:00:00

Restore Main Street's Credit Act of 2012 - Amends the Federal Credit Union Act to exclude from the definition of "member business loan" (and related loan limits) an extension of credit made to a Main Street business (an organization, other than a nonprofit organization, with 20 or fewer full-time employees that possesses, occupies, or leases property other than a home for its business's operations). Instructs the National Credit Union Administration Board (NCUAB) to issue guidelines for extensions of credit made by an insured credit union to a Main Street business in order to promote: (1) appropriate levels of such extensions within the credit union's total lending portfolio, and (2) the credit union's cooperative nature and its safety and soundness.
Topic: Domestic Commerce — Banking
Subject: Foreign trade and international finance
Date: 2012-03-29 00:00:00

Export-Import Bank Reauthorization Act of 2012 - Amends the Export-Import Bank Act of 1945 to extend the termination of functions date for the Export-Import Bank of the United States to September 30, 2015. Eliminates the provision directing the Bank to urge the Foreign Credit Insurance Association to provide 100% coverage against any export loss valued at less than $100,000. Revises the list of Marxist-Leninist countries ineligible for Bank assistance. Extends through September 30, 2015: (1) the termination date of the Sub-Saharan Africa advisory committee, and (2) Bank authority to provide financing for the export of nonlethal defense articles and defense services whose primary end use is for civilian purposes. Extends and specifies aggregate outstanding loan, guarantee, and insurance authority through FY2015. Provides for textile industry representation on the Bank Advisory Committee. Requires the Bank to: (1) review its domestic content policy for medium- and long-term transactions; (2) include in its annual report to Congress, at least every every four years beginning in 2012, a five-year strategic plan; and (3) review and report to Congress regarding the Bank's information technology infrastructure. Urges the Bank to increase the export of renewable energy technologies and end-use energy efficiency technologies. Provides for increased Bank transparency and accountability. Prohibits Bank financing for persons that engage in certain sanctionable activities with respect to Iran.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-04-17 00:00:00

Amends the Electronic Fund Transfer Act with respect to mandatory fee disclosures on automated teller machines (ATMs) operated by a person other than a financial institution holding a consumer's account. Repeals the requirement that such a fee disclosure appear in a prominent and conspicuous location on or at the ATM. Limits such requirement to appearance of a fee disclosure on the ATM screen.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-04-18 00:00:00

National Financial Literacy Act of 2012 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods. Authorizes a federal financial supervisory agency to take an institution's direct support of a qualified community-based financial literacy program into account when it assesses the institution's record of meeting the community's credit needs. Amends the Internal Revenue Code to allow a tax credit to small businesses for 35% of the expenses paid or incurred for providing qualified continuing financial education to their employees. Requires that preference in federal contracts, loans, and other financial or nonfinancial assistance for small businesses and corporations be given to those providing continuing financial education to their employees.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-04-26 00:00:00

Too Big to Fail, Too Big to Exist Act - Instructs the Secretary of the Treasury to: (1) submit to Congress, within 90 days after enactment of this Act, a list of all commercial banks, investment banks, hedge funds, and insurance companies that the Secretary believes are too big to fail ("Too Big To Fail List"); and (2) break up entities on the list so that their failure would no longer cause a catastrophic effect on the U.S. or global economy without a taxpayer bailout.
Topic: Domestic Commerce — Banking
Subject: Foreign trade and international finance
Date: 2012-05-07 00:00:00

Export-Import Bank Reauthorization Act of 2012 - Amends the Export-Import Bank Act of 1945 to extend the termination of functions date for the Export-Import Bank of the United States to September 30, 2021. Eliminates the provision directing the Bank to urge the Foreign Credit Insurance Association to provide 100% coverage against any export loss valued at less than $100,000. Revises the list of Marxist-Leninist countries ineligible for Bank assistance. Extends through September 30, 2021: (1) the termination date of the Sub-Saharan Africa advisory committee, and (2) Bank authority to provide financing for the export of nonlethal defense articles and defense services whose primary end use is for civilian purposes. Extends and specifies aggregate outstanding loan, guarantee, and insurance authority through FY2021. Provides for textile industry representation on the Bank Advisory Committee. Requires the Bank to: (1) review its domestic content policy for medium- and long-term transactions; (2) include in its annual report to Congress, at least every every four years beginning in 2012, a five-year strategic plan; and (3) review and report to Congress regarding the Bank's information technology infrastructure. Directs the Comptroller General (GAO) to: (1) report to the Bank and to Congress on the Bank's financial position and the risk it poses to U.S. taxpayers, and (2) issue an annual report on the Bank's international competitiveness and its impact on U.S. employment. Urges the Bank to increase the export of renewable energy technologies and end-use energy efficiency technologies. Provides for increased Bank transparency and accountability. Prohibits Bank financing for persons that engage in certain sanctionable activities with respect to Iran.
Topic: Domestic Commerce — Banking
Subject: Taxation
Date: 2012-05-09 00:00:00

Municipal Bond Market Support Act of 2012 - 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 2012.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-05-10 00:00:00

Safe, Accountable, Fair, and Efficient Banking Act of 2012 or SAFE Banking Act of 2012 - Amends the Bank Holding Company Act of 1956 to prohibit a bank holding company from holding more than 10% of the total amount of deposits of insured depository institutions in the United States. Directs the Board of Governors of the Federal Reserve System (Board) to require any bank holding company having a deposit concentration in violation of specified interstate banking requirements to sell or transfer liabilities to unaffiliated firms to bring the company into compliance with them. Revises the formula in the definition of "liabilities" to replace: (1) the total risk-weighted assets of the financial company (or of the U.S. operations of a foreign-based financial company) as adjusted to reflect exposures that are deducted from regulatory capital; with (2) total assets of the financial company (or of the U.S. operations of a foreign-based financial company), including all off-balance-sheet assets, including financings of assets for which the issuer has more than minimal economic or reputational risks or rewards. Prohibits a financial company from holding more than 10% of the total consolidated liabilities of all financial companies. Prescribes leverage ratio requirements for operating subsidiaries of bank holding companies and financial companies to prohibit either a bank holding company with total consolidated assets of $50 billion or more, or a Board-supervised nonbank financial company, from maintaining tangible common equity (qualifying common stockholders' equity plus retained earnings) in an amount less than 10% of average total consolidated assets (which include all off-balance-sheet assets, including financings of assets for which the issuer has more than minimal economic or reputational risks or rewards). Authorizes federal regulators to grant an emergency temporary exemption from such ratio requirements if necessary to prevent an imminent threat to the financial stability of the United States. Directs the Board to: (1) establish a leverage ratio for all operating non-insured depository institution subsidiaries of bank holding companies with $50 billion or more in total consolidated assets and nonbank financial companies; and (2) require a noncompliant such company to raise capital, sell, or otherwise transfer assets or off-balance sheet items to unaffiliated firms (prompt corrective action). Prohibits a bank holding company from possessing nondeposit liabilities exceeding 2% of the annual gross domestic product (GDP) of the United States. Authorizes the Board to: (1) set a separate liability limit for certain bank holding companies primarily engaged in the business of insurance; and (2) exclude specified deposits from its calculation of nondeposit liabilities if necessary to ensure consistent and equitable treatment of institutions with international operations. Prohibits a nonbank financial company supervised by the Board from possessing nondeposit liabilities exceeding 3% of the U.S. annual GDP.
Topic: Domestic Commerce — Banking
Subject: Finance and financial sector
Date: 2012-05-17 00:00:00

Eliminate Privacy Notice Confusion Act - Amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement any financial institution which: (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 the most recent disclosure sent to consumers.