zli12321/Bills huggingface dataset:
Credit Card Interchange Fees Act of 2009 - Amends the Truth in Lending Act to prohibit specified electronic payment system network practices, including the imposition of: (1) additional charges on merchants and consumers for premium payment cards; (2) certain restrictions on merchants, including chargebacks for transactions on point of sale terminals that exceed the allowable amount on such devices; (3) restrictions upon network routing; (4) any requirement to meet a minimum number of transactions in any period; or (5) fees or a related adverse action for failure of the merchant to meet such a minimum transactions requirement. Requires an electronic payment system network to disclose its contract terms to the merchant, including its complete operating rules, without restricting the merchant's use of such information. Directs the Federal Trade Commission (FTC) to prescribe regulations to: (1) ensure that the rules, terms, and conditions to which a merchant or consumer is subject under an agreement with an electronic payment system network are neither unfair nor deceptive to consumers and merchants, nor anticompetitive; (2) prohibit any unfair or deceptive act or practice or anticompetitive act or practice that may result from such rule, term, or condition; and (3) regularly review such rules, terms, and conditions. Directs the Board of Governors of the Federal Reserve System to collect and disseminate to the public: (1) complete information on fees charged by each electronic payment system network in connection with consumer-initiated transactions; and (2) the rules, terms, and conditions to which a merchant or a consumer is subject under an agreement with an electronic payment system network for transactions using payment cards.

Date: 2009-05-13
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Family Foreclosure Rescue Corporation Act - Instructs the Secretary of the Treasury to establish the Family Foreclosure Rescue Corporation to acquire, via the sale of bonds, home mortgages and other obligations and liens secured by real estate which are currently in default or at foreseeable risk of default.

Date: 2009-05-13
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
FHA Enhanced Oversight Act of 2009 - Amends the National Housing Act to change from annual to semiannual: (1) the independent actuarial studies of the Mutual Mortgage Insurance Fund of the Federal Housing Administration (FHA); and (2) the report of the Secretary of Housing and Urban Development (HUD) on the results of each study.

Date: 2009-05-18
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Increasing Homeownership Opportunities Act - Amends the Federal Home Loan Mortgage Corporation Act and the Federal National Mortgage Association Charter Act to increase limitations on the maximum original principal obligation of mortgages that may purchased by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation Association (Freddie Mac). Increases such limitations in areas where 125% (currently, 115%) of the median price of residences of a particular size exceed existing mortgage purchase limitations for such residence size. Gives the Director of the Federal Housing Finance Agency (FHFA) discretion to increase existing mortgage purchase limitations where an increase is warranted by higher median home prices in an area or sub-area and will have a significant impact on the cost or availability of mortgages for such homes. Amends the National Housing Act to raise limitations on the maximum principal obligation of mortgages that may be insured by the Secretary of Housing and Urban Development (HUD). Gives the Secretary discretion to increase mortgage insurance limitations where an increase is warranted by higher median home prices in an area or sub-area and will have a significant impact on the cost or availability of mortgages for such homes.

Date: 2009-05-19
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Service Members Home Ownership Act of 2009 - Amends the Internal Revenue Code to extend until December 1, 2010, the first-time homebuyer tax credit for members of the Armed Forces serving outside the United States for a period in 2009 before December 1, 2009, of not less than 90 days.

Date: 2009-05-21
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Housing Opportunity and Mortgage Equity Act of 2009 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (the enterprises) each to implement a program to purchase and securitize qualified new mortgages on single-family housing in accordance with policies and procedures established by the Director of the Federal Housing Finance Agency (FHFA). Sets forth requirements for the purchase and securitization of qualified new mortgages. Terminates the requirement for the enterprises to purchase mortgages two years after the enactment of this Act. Directs Fannie Mae and Freddie Mac each to implement a program to provide for the refinancing of qualified mortgages on single-family housing they own and for the purchase and securitization of such refinancing mortgages in accordance with policies and procedures established by the FHFA Director. Terminates this requirement two years after enactment of this Act. Authorizes the Secretary of the Treasury to purchase securities issued by the enterprises under this Act and such other obligations as the enterprises may issue to carry out this Act. Authorizes the Secretary also, for the purpose of purchasing any such securities and obligations, to use as a public debt transaction the proceeds from the sale of other public debt securities. Treats all redemptions, purchases, and sales by the Secretary of obligations under this Act as public debt transactions of the United States. Limits to $10 billion the aggregate principal amount of outstanding obligations and securities purchased by the Secretary under this Act.

Date: 2009-05-21
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Home Buying Credit Expansion Act - Amends the Internal Revenue Code to: (1) extend the first-time homebuyer tax credit to all individuals who purchase a principal residence (currently, only first-time homebuyers as so defined); (2) extend such credit and the waiver of recapture requirements for such credit through 2010; and (3) expand the election to treat a purchase of a principal residence as made in a prior taxable year for purposes of such credit.

Date: 2009-05-21
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Amends the Internal Revenue Code to allow until June 30, 2010: (1) a first-time homebuyer tax credit for all purchasers of a principal residence (not just first-time homebuyers); and (2) a refundable tax credit, up to $3,000, for the costs of refinancing a principal residence.

Date: 2009-05-21
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Amends the Internal Revenue Code to: (1) extend the first-time homebuyer tax credit to all individuals who purchase a principal residence (currently, only first-time homebuyers as so defined); (2) extend such credit and the waiver of recapture requirements for such credit through 2010; and (3) expand the election to treat a purchase of a principal residence as made in a prior taxable year for purposes of such credit.

Date: 2009-06-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Mortgage Foreclosure Rescue and Loan Modification Services Fraud Prevention Act of 2009 - Directs the Federal Trade Commission (FTC) to conduct a rulemaking proceeding with respect to mortgage foreclosure rescue and loan modification services. Directs the FTC to include in the rule, among other things, requirements that: (1) any residential real property mortgage foreclosure rescue or loan modification service provided to a homeowner contain a written contract meeting specified criteria; (2) any such contract contain a clearly and prominently disclosed right for the homeowner to cancel within a set number of business days with no penalty or obligation; and (3) prohibits or restricts mortgage foreclosure rescue and loan modification services from requesting or receiving any funds until any such services have been fully performed, results have been achieved, and both have been documented to the consumer.

Date: 2009-06-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Amends the Internal Revenue Code to: (1) extend through 2014 the standard tax deduction for real property taxes; and (2) allow an annual inflation adjustment to the allowable amount of such deduction.

Date: 2009-06-04
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
TARP Repayment and Termination Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to grant any financial institution that received or receives assistance under the Troubled Asset Relief Program (TARP) the right to repay all of it immediately if the institution will be well capitalized after such repayment and has made any payment due to the Secretary of the Treasury by reason of receiving such assistance. Allows bank holding companies assessed under the Supervisory Capital Assessment Program (SCAP) to repay all of their TARP assistance immediately if the Secretary determines that they meet specified criteria, including the ability, along with their subsidiary banks, to meet all ongoing funding requirements and obligations to counterparties while reducing reliance on government capital and the Temporary Liquidity Guarantee Program (TLGP). Directs the Secretary to notify financial institutions unable to repay their TARP assistance of detailed steps to take to put themselves in a position to make such repayment. Gives financial institutions making a full repayment of TARP assistance the right to repurchase preferred shares purchased or held by the Secretary as a result of the Secretary's exercise of warrants at the same price paid by the Secretary for such shares or warrants. Requires the Secretary to liquidate at the market price warrants associated with repaid TARP assistance. Eliminates the Secretary's authority to extend TARP beyond its termination date.

Date: 2009-06-08
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Homeowners' Emergency Mortgage Assistance Act - Directs the Secretary of Housing and Urban Development to establish a mortgage emergency assistance program for a mortgage for a one- to four-family residence whose mortgagor is temporarily unable to meet payment obligations due to financial hardship beyond the mortgagor's control. Prohibits an mortgagee from accelerating the maturity of or commencing any legal action regarding a mortgage (including foreclosure) or taking possession of any mortgagor security: (1) unless the mortgagee meets certain notice and other specified conditions; or (2) if the mortgagor has applied for or is receiving assistance under this Act. Requires mortgagor repayment of such assistance, plus interest.

Date: 2009-07-09
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Rating Accountability and Transparency Enhancement Act of 2009 or the RATE Act - Amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC) to review credit ratings and methodologies employed by each nationally recognized statistical rating organization (NRSRO) to ensure that the NRSRO complies with its internal controls for determining credit ratings. Requires each NRSRO to establish establish and enforce governance procedures to manage conflicts of interest in accordance with SEC rules. Directs the SEC to issue specified rules to prohibit, or require the management and disclosure of, any conflicts of interest relating to the issuance of credit ratings by an NRSRO. Requires an NRSRO to review and revise a credit rating, if appropriate, in any case in which an employee of an obligor, issuer, or underwriter of a security or money market instrument was employed by an NRSRO and participated in determining such credit ratings for the obligor or the issuer during the one-year period preceding the date of the credit rating (look-back requirement). Requires each NRSRO to designate a compliance officer to perform specified duties. Directs the SEC to establish an office to administer SEC rules with respect to the practices of NRSROs in determining ratings to ensure that credit ratings NRSROs issue are accurate and not unduly influenced by conflicts of interest. Directs the SEC to require each NRSRO to disclose publicly information on initial ratings and subsequent changes in order to: (1) provide a gauge of the accuracy of ratings; and (2) allow users of credit ratings to compare performance of ratings by different NRSROs. Requires the SEC to promulgate rules on credit rating procedures and methodologies. Modifies the scienter requirement in a private action for money damages against an NRSRO to provide that it shall be sufficient for the complaint to state with particularity facts giving rise to a strong inference that the NRSRO knowingly or recklessly failed either to: (1) conduct a reasonable investigation of the rated security with respect to the factual elements relied upon by its own methodology for evaluating credit risk; or (2) obtain reasonable verification of such factual elements from other sources that it considered to be competent and that were independent of the issuer and underwriter. Directs the Comptroller General to study and report to Congress on implementation of this Act, including: (1) the appropriateness of relying on ratings for use in federal, state, and local securities, banking regulations, and capital requirements determinations; and (2) the effect of liability in private actions and the scienter modification of this Act.

Date: 2009-07-14
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Medical Debt Relief Act of 2010 - Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any report containing information related to a fully paid or settled medical debt that had been characterized as delinquent, charged off, or in collection for credit reporting purposes which, from the date of payment or settlement, antedates the report by more than 45 calendar days.

Date: 2009-07-30
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Amends the Internal Revenue Code to repeal the prohibition against dealers in real property using the installment method for reporting income from an installment sale.

Date: 2009-07-31
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Small Business Credit Card Act of 2009 - Amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses). Defines "qualified small business" under the Act as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity; and (2) any credit transaction involving such account is for business or personal purposes. Permits a qualified small business to elect to opt out of coverage by the Act. Exempts from coverage by the Act any credit transaction in which the total amount financed exceeds $50,000 (currently $25,000). Requires certain creditor disclosures before opening any account under an open end consumer credit plan for a qualified small business. Prohibits a creditor from: (1) discriminating against any business concern having 50 or fewer employees in connection with any credit card account under an open end credit plan; or (2) requiring any qualified small business to make an opt-out election as a condition for opening a credit card account, or for providing more advantageous terms for such an account.

Date: 2009-07-31
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 (also known as the Credit CARD Act of 2009) to make it effective upon its date of enactment (May 22, 2009), instead of nine months after such date.

Date: 2009-09-17
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
FHA Taxpayer Protection Act of 2009 - Amends the National Housing Act to increase the downpayment requirement for a Federal Housing Administration (FHA) mortgage loan from 3.5% to 5%. Repeals the current inclusion in the principal amount of an FHA mortgage loan of any initial service charges, appraisal, inspection, and other fees that the Secretary of Housing and Urban Development (HUD) approves. Prohibits the inclusion of such charges and fees in the principal amount of an FHA mortgage loan. Directs the Comptroller General to study and report to Congress on the Mutual Mortgage Insurance Fund and the mortgage insurance programs under which the insurance obligations are obligations of such Fund.

Date: 2009-10-01
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Home Buyer Tax Credit Act of 2009 - Amends the Internal Revenue Code to replace the current tax credit for first-time homebuyers with a one-time credit for 10% of the purchase price of a principal residence, up to $15,000. Requires the repayment of such credit if the taxpayer sells or fails to occupy the residence within 24 months after the date of purchase. Rescinds certain discretionary appropriations made available by division A of the American Recovery and Reinvestment Act of 2009 to cover the cost of this Act.

Date: 2009-10-08
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
First-Time Homebuyer Credit Continuation Act of 2009 - Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such credit and its waiver of recapture provisions through November 30, 2010; (2) extend through December 31, 2009, the election to treat, for tax purposes, a residence purchased in 2009 as having been purchased on December 31, 2008; (3) allow taxpayers to treat, for tax purposes, a residence purchased after December 31, 2009, and before December 1, 2010, as having been purchased on December 31, 2009; and (4) extend through December 31, 2009, the coordination of the first-time homebuyer tax credit for District of Columbia residents.

Date: 2009-10-13
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Helping Homebuyers Act of 2009 - Amends the Internal Revenue Code to allow individual taxpayers a one-time tax credit for 15% of the purchase price of a principal residence, up to $18,000. Requires repayment of such credit if the taxpayer sells the residence, or fails to occupy the residence as a principal residence, at any time within 60 months after the date of purchase.

Date: 2009-10-15
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Homebuyer Tax Credit Improvement Act of 2009 - Amends the Internal Revenue Code, with respect to the first-time homebuyer tax credit, to: (1) deny such credit to taxpayers under the age of 18; (2) require a taxpayer claiming such credit to attach to their returns a properly executed copy of the settlement statement used to purchase their residence; and (3) prohibit a credit for residences acquired from a spouse. Requires tax return preparers to file tax returns electronically unless they reasonably expect to file 100 or fewer individual income returns in a calendar year.

Date: 2009-10-22
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such credit to all purchasers of a principal residence (currently, limited to first-time homebuyers); (2) extend such credit and its waiver of recapture provisions (for sales of principal residences before the required holding period) through June 30, 2010; (3) extend through December 31, 2009, the election to treat, for tax purposes, a residence purchased in 2009 as having been purchased on December 31, 2008; (4) allow taxpayers to treat, for tax purposes, a residence purchased after December 31, 2009, and before July 1, 2010, as having been purchased on December 31, 2009; (5) increase adjusted gross income thresholds for determining eligibility for such credit; and (6) allow a waiver of recapture for members of the Armed Forces who are relocated.

Date: 2009-10-22
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
First-Time Homebuyer Tax Credit Guarantee Act of 2009 - Amends the Internal Revenue Code to extend the first-time homebuyer tax credit for a 90-day period after its termination date (i.e., November 30, 2009) for taxpayers who entered into a written binding contract for the purchase of a principal residence which was in effect on November 30, 2009.

Date: 2009-10-23
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Amends the Internal Revenue Code to extend through 2012 the period for placing in service buildings located in a disaster area that are eligible for allocations of low-income housing tax credit amounts.

Date: 2009-10-26
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Credit Card Fee Limitation and Accountability Act - Amends the Truth in Lending Act, as amended by the Credit CARD Act of 2009, to prohibit a creditor from imposing upon an open-end consumer credit account any fee related to failure of the consumer to: (1) use the credit card to obtain an extension of credit; (2) carry an outstanding balance from any billing cycle to another; and (3) obtain a minimum amount of credit under such account during any specified period. Permits a consumer to: (1) cancel an account within 45 days of receiving notice of an annual fee if no such fee existed upon the account's initial opening; and (2) pay any outstanding account balance at the time of cancellation in accordance with the terms in effect at the time of such cancellation. Prohibits a creditor, as a result of such cancellation, from taking action against a consumer which would adversely affect the consumer's ability to obtain credit under open-end consumer credit plan. Requires any annual fee that a card issuer may impose with respect to a credit card account under an open-end consumer credit plan to be reasonable. Directs the Board of Governors of the Federal Reserve System to issue final rules, within six months after the enactment of this Act, to establish standards for assessing whether the amount of any annual fee is reasonable. Amends the Fair Credit Reporting Act to prohibit a consumer credit reporting entity from taking action or making any determination based upon consumer cancellation of a credit card account which would result in a consumer credit score lower than that which would result without taking such cancellation into account.

Date: 2009-10-29
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Amends Internal Revenue Code provisions relating to the first-time homebuyer tax credit to: (1) extend such credit to all purchasers of a principal residence (currently, limited to first-time homebuyers); (2) extend such credit and its waiver of recapture provisions (for sales of principal residences before the required holding period) through November 30, 2010; (3) extend through December 31, 2009, the election to treat, for tax purposes, a residence purchased in 2009 as having been purchased on December 31, 2008; (4) allow taxpayers to treat, for tax purposes, a residence purchased after December 31, 2009, and before December 1, 2010, as having been purchased on December 31, 2009; (5) increase adjusted gross income thresholds for determining eligibility for such credit; and (6) allow a waiver of recapture for members of the uniformed services, the Foreign Service, or employees of the intelligence community who sell their principal residences after receiving an order for official extended duty service.

Date: 2009-11-05
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
TARP Sunset Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to terminate, on December 31, 2009 (as under current law), the authority of the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP). Repeals the Secretary's authority to extend the TARP program through October 3, 2010, upon submission of a written certification to Congress.

Date: 2009-11-18
Topic: Domestic Commerce (Consumer Finance)
Subject: Economics and public finance
Ensure TARP Expires Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to repeal the authority of the Secretary of the Treasury to extend the Troubled Asset Relief Program (TARP) beyond December 31, 2009. Instructs the Secretary to transfer certain unobligated TARP funds to reduce the public debt.

Date: 2009-11-19
Topic: Domestic Commerce (Consumer Finance)
Subject: Economics and public finance
TARP Sunset and Fiscal Responsibility Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to terminate, on December 31, 2009 (as under current law), the authority of the Secretary of the Treasury to implement the Troubled Asset Relief Program (TARP). Repeals the Secretary's authority to extend the TARP program through October 3, 2010, upon submission of a written certification to Congress. Requires all funds repaid, and profits paid, to the Secretary by TARP recipients to be used to pay down the national debt. Reduces the statutory limit on the public debt to $700 billion minus the amount of troubled assets purchased by the Secretary under TARP outstanding on December 31, 2009.

Date: 2009-12-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Economics and public finance
Borrowers' Right to Inspect Closing Documents Act of 2009 - Amends the Real Estate Settlement Procedures Act of 1974 (RESPA) to revise procedures governing the furnishing of closing documents to borrowers. Requires the lender to furnish to the settlement agent, at least four business days before the scheduled date of a real estate settlement, the completed promissory note, the mortgage instrument, and all other items needed to complete the uniform settlement statement, the final Truth-in-Lending Act disclosure, and the final closing instructions. Requires the settlement agent to furnish the borrower, at least three business days before the scheduled settlement date, with the completed documents and the completed uniform settlement statement, as long as the lender has timely provided the agent with those items. Shields the settlement agent from liability for the lender's noncompliance with this Act. Cites circumstances under which the settlement agent may correct the uniform settlement statement and related documents prior to the scheduled settlement date. Authorizes the Secretary of Housing and Urban Development to exempt settlements from the requirements of this Act in certain circumstances.

Date: 2009-12-08
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Reverse Mortgage Elder Protection Act - Amends the Truth in Lending Act to prohibit a creditor from taking an application for a reverse mortgage unless the creditor has provided the applicant with: (1) a specified written cautionary statement before the applicant receives any counseling regarding reverse mortgages; (2) a specified written checklist before meeting with a counseling agency about reverse mortgages; and (3) a referral to a housing counseling agency for reverse mortgage counseling approved by the Department of Housing and Urban Development (HUD). Requires a counseling agency to provide the same kind of written checklist to a consumer that seeks counseling before requesting a loan application for a reverse mortgage. Prohibits a creditor from either accepting a final application for a reverse mortgage, or from assessing any related fees, unless the creditor has received from the consumer or the consumer's authorized representative: (1) a written certification that the consumer has received counseling regarding reverse mortgages from a HUD-approved agency; and (2) a copy of the prescribed checklist signed by the agency counselor and by the consumer.

Date: 2010-01-12
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Fair Access to Credit Scores Act of 2010 - Amends the Fair Credit Reporting Act to require consumer reporting agencies to disclose any information in the consumer's file concerning credit scores or other related risk scores or predictors when the consumer requests a free annual disclosure (credit report). Requires all consumer reporting agencies to maintain information in the consumer's file concerning such scores or predictors for at least one year from the date on which such information is placed in the file. Directs the Comptroller General to study and report to Congress on bankruptcy risk scores used by consumer reporting agencies, including an analysis of: (1) the factors used to determine such scores; (2) how bankruptcy risk scores impact the ability of consumers to receive loans; and (3) actions that consumers can take to improve such scores.

Date: 2010-01-27
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Fannie Mae and Freddie Mac Accountability and Transparency for Taxpayers Act of 2010 - Directs the Inspector General (IG) of the Federal Housing Finance Agency to submit quarterly reports to Congress on the IG's activities with respect to the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) and their activities and condition while they are in conservatorship status.

Date: 2010-02-03
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Foreclosure Mandatory Mediation Act of 2010 - Amends the Helping Families Save Their Homes Act of 2009 to require the mortgagee of certain one- to four-family residences, as a prerequisite to a foreclosure proceeding or a sheriff sale, and at the mortgagee's expense, to conduct a one-time mediation with the affected mortgagor and a housing counseling agency.

Date: 2010-02-22
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Accurate Accounting of Fannie Mae and Freddie Mac Act - Requires the receipts and disbursements of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to be counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of: (1) the federal budget submitted by the President; (2) the congressional budget; or (3) the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Requires the costs of purchases of mortgages, and mortgage-backed securities issued, by Fannie Mae and Freddie Mac to be calculated by adjusting a specified discount rate for market risks under the Credit Reform Act of 1990. Subjects to the statutory public debt limit the face amount of obligations issued by Fannie Mae and Freddie Mac and outstanding at one time.

Date: 2010-02-23
Topic: Domestic Commerce (Consumer Finance)
Subject: Economics and public finance
America Saving for Personal Investment, Retirement, and Education Act of 2010 or ASPIRE Act of 2010 - Establishes an ASPIRE Fund in the Treasury, including a Lifetime Savings Account. Makes eligible to contribute to such an account, and to receive certain federal contributions, any U.S. citizen or lawful resident alien born after December 31, 2009, and under 18 years of age, whose modified adjusted gross income is below the applicable national median adjusted gross income amount. Prescribes requirements for distributions for higher education expenses. States that, for purposes of the Internal Revenue Code (IRC), each Lifetime Savings Account shall be treated in the same manner as a Roth IRA. Amends the IRC to require that, except in certain respects, privately managed Lifetime Savings Accounts be treated also in the same manner as a Roth IRA. Creates the ASPIRE Fund Board to establish a default investment program under which, in a manner similar to a lifecycle investment program, sums in each Lifetime Savings Account are allocated to investment funds in the ASPIRE Fund based on the amount of time before the account holder attains the age of 18. Subjects the Board to the same composition requirements, duties, and responsibilities as the Federal Retirement Thrift Investment Board. Instructs the Secretary of the Treasury, in coordination with the Financial Literacy and Education Commission, to develop programs to promote the financial literacy of account holders of Lifetime Savings Accounts.

Date: 2010-02-24
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Gulf of Mexico Red Snapper Fishery Protection Act - Directs the Secretary of Commerce to conduct a benchmark stock assessment of the Gulf of Mexico red snapper fishery and report to Congress. Prohibits the Secretary from promulgating any interim rule under specified provisions of the Magnuson-Stevens Fishery Conservation and Management Act that prohibits fishing in the Gulf of Mexico red snapper fishery before such report demonstrates the need for interim or final rules. Deems any interim rule promulgated prior to enactment of this Act that decreases the number of fishing days to less than the 2009 level to have no force or effect.

Date: 2010-03-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Public lands and natural resources
Permanently Protecting Tenants at Foreclosure Act of 2010 - Amends the Protecting Tenants at Foreclosure Act of 2009 to repeal its sunset date December 31, 2012 (thus making the Act permanent).

Date: 2010-03-04
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
GSE Bailout Elimination and Taxpayer Protection Act - Sets a deadline for the Director of the Federal Housing Finance Agency (FHFA) to terminate the conservatorship of either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) if the Director determines that it is financially viable. (Refers to both Fannie Mae and Freddie Mac as enterprises.) Requires the Director to appoint the FHFA immediately as receiver of either enterprise if it is found not to be financially viable. Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (FHEFSSA) to repeal: (1) its housing goals if the Director determines that an enterprise is financially viable; and (2) the new housing price index. Amends the Housing and Community Development Act of 1992 to restrict the authority of an enterprise to acquire mortgage assets following its emergence from conservatorship. Increases the minimum capital level required for each enterprise. Instructs the Director to establish minimum levels of capital for the enterprises. Authorizes the Director to: (1) establish minimum capital levels in excess of levels specified in the FHEFSSA; and (2) deem failure of an enterprise to maintain revised minimum capital levels to constitute an unsafe and unsound condition. Amends the Continuing Appropriations Resolution, 2010, the American Recovery and Reinvestment Act of 2009, and the Economic Stimulus Act of 2009 to repeal temporary increases to conforming loan limits. Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to repeal provisions governing enterprise authority to purchase and sell certain insured and conventional mortgages and to engage in certain lending activities (general limit and permanent high-cost area increases). Amends the Housing and Economic Recovery Act of 2008 to repeal its conforming loan limits. Prescribes conforming loan limits for conventional mortgages that may be purchased by the enterprises. Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to: (1) prohibit the enterprises from purchasing mortgages that exceed the median area price for the affected property; (2) prohibit the enterprises from purchasing mortgages if the mortgagor has paid less than the specified minimum downpayment; and (3) require the enterprises to pay state and local taxes. Instructs the Director of FHFA to assess each enterprise for the amount necessary to recoup to the federal government the full value of the benefit received from the federal guarantee of its obligations and financial viability. Directs the Comptroller General to study and report to Congress on a risk-based pricing mechanism to determine accurately the value of the benefit the enterprises receive from the federal guarantee of their obligations and financial viability. Prescribes a deadline and procedures for the wind down of operations and dissolution of an enterprise.

Date: 2010-03-19
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Mortgage Servicing Conflict Elimination Act of 2010 - Amends the Truth in Lending Act to prohibit the servicer of a residential mortgage loan (or an affiliate) from owning or holding any interest in any other residential mortgage loan secured by the same dwelling or residential real property.

Date: 2010-03-25
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Flexible Licensing Compliance for Nonprofit Housing Employees Act of 2010 - Delays until January 1, 2011, the effective date of any regulations of the Secretary of Housing and Urban Development (HUD) regarding licensing or registration requirements under the S.A.F.E Mortgage Licensing Act of 2008 for engaging in the business of a loan originator.

Date: 2010-04-21
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Amends the Internal Revenue Code to: (1) extend the first-time homebuyer tax credit through December 31, 2010; (2) extend eligibility for such credit through April 30, 2011, for taxpayers who enter into a binding contract for the purchase of a principal residence by December 31, 2010; and (3) extend eligibility for such credit through April 30, 2012, for military personnel and members of the Foreign Service and the intelligence community on qualified official extended duty outside the United States.

Date: 2010-04-29
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Homeowner Tax Assistance Act - Amends the Internal Revenue Code to: (1) increase by 25% the allowable tax deduction for mortgage interest on a principal residence until 2014; and (2) waive the requirement to repay credit amounts under the first-time homebuyer tax credit for residences purchased on or after April 9, 2008.

Date: 2010-05-06
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
State Small Business Credit Initiative Act of 2010 - Establishes a seven-year State Small Business Credit Initiative (Initiative), administered by the Secretary of the Interior to allocate federal funds to participating states with capital access programs. Prescribes eligibility criteria for state capital access programs providing portfolio insurance for business loans. Requires the portfolio insurance to be based on a separate loan-loss reserve fund for each financial institution, with: (1) premiums paid by the financial institution lenders and by the business borrowers to the reserve fund to have their loans enrolled in it; and (2) state contributions to the reserve fund in amounts equal to such premium charges. Limits portfolio insurance to loans of up to $5 million to borrowers with 500 employees or fewer at the time that the loan is enrolled in the program. Requires the Secretary to approve for federal contributions any state capital access program meeting specified minimum requirements. Authorizes a participating state that establishes a new, or has an existing, eligible credit support program to apply for the Secretary's approval of a state other credit support program [sic] for federal contributions to, or for the account of, the state program. Requires a state other credit support program, among other eligibility criteria, to demonstrate that one dollar of public investment by the state program will cause and result in one dollar of new private credit, with a reasonable expectation that, when considered with all other state programs, they together have the ability to use new federal contributions to cause and result in amounts of new small business lending at least 10 times the new federal contribution amount. Requires such a program to extend credit support to borrowers with an average size of 500 or fewer employees, but in no event to borrowers with more than 750 employees. Requires such credit support to target loans with an average principal amount of $5 million or less, but in no event more than $20 million. Authorizes the reduction of federal allocations to the state or termination of further allocation transfers to the state upon its termination of participation in the program, or failure to submit timely and complete reports, or its noncompliance with the terms of the allocation agreement. Directs the Secretary to: (1) establish minimum national standards for approved state programs; and (2) provide states with technical assistance for starting programs and generally disseminating best practices.

Date: 2010-05-13
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Community Development Financing Act of 2010 - Amends the Internal Revenue Code to make permanent the tax-exemption of interest on state or local bonds guaranteed by a federal home loan bank on or after July 30, 2008.

Date: 2010-05-13
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Manufactured Housing Licensing Clarification Act of 2010 - Amends the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 to exclude from the definition of "loan originator" (and exempt from the requirements of the Act) an individual who performs manufactured or modular housing retail sales activities and is licensed or registered under state law, unless such individual is compensated by a lender, a mortgage broker, or other loan originator or by one of their agents. Adds to state loan originator licensing law requirements new ones declaring that the state loan originator supervisory authority: (1) has created education and testing appropriate for personal property loan originators; and (2) ensures that additional mortgage lending licensing is not required of a state-licensed personal property lender and has not created unnecessary, duplicative licensing requirements for state-licensed lenders engaged solely in making residential mortgage loans secured by personal property, such as manufactured homes.

Date: 2010-05-24
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Debt Settlement Consumer Protection Act of 2010 - Amends the Consumer Credit Protection Act to prohibit debt settlement providers from providing a debt settlement service or receiving a fee from a consumer without a signed written contract meeting specified requirements. Prohibits debt settlement providers from engaging in certain acts or practices, including: (1) making loans or offering credit or soliciting or accepting any note, mortgage, or negotiable instrument other than a check signed by the consumer and dated no later than the date of signature; (2) taking a confession of judgment or power of attorney to confess judgment against the consumer or appearing as the consumer or on the consumer's behalf in any judicial or non-judicial proceedings; (3) taking any release or waiver of an obligation to be performed on the part of the debt settlement provider or any right of the consumer; (4) receiving any third-party compensation for providing the consumer with a debt settlement service; or (5) purchasing debts or engaging in debt collection. Permits debt settlement providers to charge enrollment and settlement fees, but no others. Requires a debt settlement provider who receives funds from a consumer to hold them for a consumer settlement account in a properly designated trust account in a federally insured depository institution not affiliated with the provider. Permits a consumer to cancel a contract with a debt settlement provider at any time, in accordance with specified requirements and procedures. Declares void and unenforceable: (1) a consumer's waiver of any consumer protection or right provided under this Act; and (2) any contract for a debt settlement service that does not comply with this Act. Prohibits a debt settlement provider from engaging in certain advertising, marketing, or other communication practices except in accordance with specified requirements. Authorizes the Federal Trade Commission (FTC) to prescribe rules governing advertising and marketing practices, record retention, and provision of accountings to consumers, as well as debt relief service rules. Subjects a debt settlement provider to civil liability (including punitive damages) for noncompliance with this Act. Empowers the FTC to enforce this Act. Authorizes a state to bring a civil action in federal court on behalf of its residents for noncompliance with this Act.

Date: 2010-05-25
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Amends the Credit Card Accountability Responsibility and Disclosure Act of 2009 to state that, in the case of a gift certificate, store gift card, or general-use prepaid card produced before April 1, 2010, the effective date of certain disclosure requirements under the Electronic Funds Transfer Act pertaining to fees shall be delayed until January 31, 2011. Requires the issuer of such a certificate or card, as a condition of such delayed effective date, to: (1) comply with a specified prohibition against and certain requirements for the imposition of any dormancy, inactivity, or service fees; (2) consider any such certificate or card for which funds expire to have no expiration date with respect to the underlying funds; (3) replace, at consumer request, any such certificate or card that has funds remaining at no cost to the consumer; and (4) comply with certain consumer rights disclosure requirements.

Date: 2010-06-10
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Aiding Those Facing Foreclosure Act of 2010 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to authorize the Secretary of the Treasury to use otherwise unobligated amounts under the Troubled Asset Relief Program (TARP) to enable nonprofit counseling intermediaries and nonprofit legal organizations to provide legal assistance to homeowners of owner-occupied homes consisting of from one to four dwelling units whose mortgages are in default or delinquency, in danger of default or delinquency, or subject to or at risk of foreclosure (including any deed in lieu of foreclosure or short sale).

Date: 2010-06-10
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Fannie Mae and Freddie Mac Transparency Act of 2010 - Amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to provide that, during any period in which either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) is under conservatorship or receivership, it shall be considered an agency subject to the public information disclosure requirements of the Freedom of Information Act.

Date: 2010-06-16
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development