zli12321/Bills huggingface dataset:
Volcker Rule Relief Act of 2015

This bill amends the Bank Holding Company Act of 1956 with respect to the prohibition ("Volcker Rule") against a banking entity's: (1) engaging in proprietary trading; or (2) acquiring or retaining any equity, partnership, or other ownership interest in, or sponsoring, hedge funds or private equity funds.

"Banking entity" shall not include (and so the Volcker Rule shall not apply to) any entity that:

 is not predominantly engaged in financial activities, nor is a bank holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System, nor a direct or indirect subsidiary of a bank holding company or a nonbank financial company supervised by the Board; or would be a banking entity solely owing to its control of such an entity. The bill also exempts from the Volcker Rule any banking entity with total consolidated assets of $10 billion or less.

Date: 2015-11-17
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2015

This bill 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.

The bill 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.

Date: 2015-11-19
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
This bill amends the Federal Deposit Insurance Act with respect to the prohibition declaring that an insured depository institution that is not well-capitalized may not accept funds obtained, directly or indirectly, by or through any deposit broker for deposit into one or more deposit accounts.

Reciprocal deposits of an insured depository institution, however, shall not be considered to be prohibited broker deposits if:

 the composite condition of the institution at its most recent examination was adjudged either good or outstanding, or total reciprocal deposits of the institution do not exceed either $10 billion or 20% of its total liabilities.

Date: 2015-11-19
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to: (1) require each voting member of the Financial Stability Oversight Council to testify at least twice each year before the House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee if invited to do so; and (2) permit Members of Congress who serve on such committees to attend council meetings, regardless of whether such meetings are open to the public, if in any year a council member fails to testify at least twice before each such committee after being invited to do so.

Date: 2015-12-10
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
FSOC Designation Review Act 

This bill amends the Financial Stability Act of 2010 to revise requirements for reevaluation and reaffirmation of determinations by the Financial Stability Oversight Council (FSOC) that the Board of Governors of the Federal Reserve System supervise and regulate U.S. or foreign nonbank financial companies.

The FSOC shall reevaluate such a determination not only annually (as under current law) but also upon the request of a nonbank financial company based on its representation that there has been a material change in its operations or activities or a material change in regulatory or market conditions.

FSOC must give the company as part of a reevaluation:

 a confidential written analysis of the specific elements of the company's exposures or activities that would be relevant to the FSOC's reevaluation; and opportunity to submit written materials in response, including a plan to obtain rescission of the determination or other materials relevant to the assessment. The FSOC's written analysis must assess with particularity the company's vulnerability to financial distress, including consideration of its leverage, liquidity risk, and maturity mismatch, and existing regulatory scrutiny of the company.

Following a reevaluation the FSOC shall vote whether to reaffirm the determination; but if two-thirds of the voting members do not vote in favor of reaffirmation, the determination in question shall be rescinded immediately, subject at company option to judicial review. (Currently a determination is automatically reaffirmed upon reevaluation unless by a two-thirds vote the FSOC rescinds it.)

Date: 2015-12-15
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Community Bank Reporting Relief Act

 This bill amends the Federal Deposit Insurance Act to direct federal banking agencies to issue regulations that allow a reduced reporting requirement for highly rated and well-capitalized depository institutions meeting certain other criteria when making the first and third report of condition for a year.

Date: 2016-02-09
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Traditional Banking Regulatory Relief Act of 2015 

This bill amends the Federal Deposit Insurance Act (FDIA) to prescribe capital requirements for traditional banking organizations (TBOs) at a minimum simple leverage ratio of no less than 10%.

A TBO is any bank holding company, savings and loan holding company, bank, or savings association that individually (and when including its parent, subsidiaries, and affiliates) meets the following criteria:

 has zero trading assets and zero trading liabilities, does not engage in swaps or security-based swaps other than those referencing interest rates or foreign exchange swaps, and has a total gross notional exposure of swaps and security-based swaps of not more than $3 billion. "Simple leverage ratio" means:

 total equity less goodwill and deferred tax assets, divided by total assets less goodwill and deferred tax assets, as measured by generally accepted accounting principles. A TBO meeting this minimum simple leverage ratio may notify the federal banking agencies to maintain it as the sole measure of its capital adequacy. The risk-based capital requirement shall not apply to it.

If the TBO fails to maintain the minimum simple leverage ratio, it shall remain exempt from the risk-based capital requirement for an 18-month grace period.

The bill grants a TBO with a simple leverage ratio of 8% or more a phase-in period of 18 months after enactment of this bill within which to elect to meet the minimum simple leverage ratio as its sole measure of capital adequacy.

 The federal banking agencies, with respect to reports of condition, shall permit a reduced reporting requirement for a TBO electing to maintain a simple leverage ratio as its sole measure of capital adequacy.

The 18-month on-site examination cycle shall apply to TBOs (and, as under current law, to insured depository institutions whose assets total less than $1 billion) if the appropriate federal banking agency believes this is consistent with the TBO's safety and soundness.

The bill repeals the authority of federal banking agencies, at their discretion, to increase the maximum asset amount of insured depository institutions for certain purposes.

The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended to exempt TBOs from mandatory annual stress tests.

Date: 2016-02-26
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
FDIC Accountability Act of 2016

This bill amends the Federal Deposit Insurance Act to authorize the Federal Deposit Insurance Corporation (FDIC) to incur obligations or allow and pay expenses only pursuant to an appropriations Act, except for obligations or expenses that have either been:

 paid for with funds from the Deposit Insurance Fund; or incurred, allowed, or paid to implement the insurance function of the FDIC. Any FDIC-collected fees that are not deposit insurance fees must be deposited and credited as offsetting collections to the account providing appropriations to the FDIC.

Date: 2016-03-17
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
North American Development Bank General Capital Increase Authorization Act of 2016

This bill: (1) authorizes the Department of the Treasury to subscribe on behalf of the United States to 150,000 additional shares of the capital stock of the North American Development Bank, and (2) authorizes appropriations for such shares.

Date: 2016-03-22
Topic: Domestic Commerce (Banking)
Subject: Foreign trade and international finance
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

(Sec. 1) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal Title II (Orderly Liquidation Authority), concerning the bankruptcy of financial institutions, and makes conforming amendments to the Federal Deposit Insurance Act and the Federal Reserve Act.

Date: 2016-04-11
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
This bill amends the Federal Reserve Act to revise the formula for subscription of national banking associations to the stock of their regional Federal Reserve Bank.

Instead of one-sixth of an association's subscription to be payable on call by the Board of Governors of the Federal Reserve System, a member bank shall pay one-twelfth of its subscription when the Federal Reserve Board directs, and the remainder subject to the call of the Board.

If a member bank has total consolidated assets of $10 billion or less, however, it may elect to pay one-half of its subscription instead of one-twelfth, but only once, and only within the first year after it becomes a member bank.

The bill makes similar revisions to the formula for an increase in a member bank's capital stock or surplus.

The Board may only call the subscription of a member bank if the aggregate amount of surplus funds of the Federal Reserve Banks is exhausted.

A member bank may elect to have called amounts returned to it if the aggregate amount of surplus funds of the Federal Reserve Banks is $1 billion or more.

The Board shall make annually inflation adjustments to the dollar amounts of total consolidated assets specified in the Act and in this bill to reflect the change in the Gross Domestic Product Price Index, published by the Bureau of Economic Analysis of the Department of Commerce.

Date: 2016-04-21
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Credit Union Examination Reform Act of 2016

This bill amends the Federal Credit Union Act to permit an examination to be carried out only once every 18 months of a federal credit union or an insured credit union that:

 has total assets of less than $1 billion; is well capitalized (or adequately capitalized, in the case of an insured credit union); was found in its most recent examination to be well managed, with a composite rating (under the Uniform Financial Institutions Rating System) of 1, in the case of a credit union that has total assets of more than $200 million, or 1 or 2, in the case of a credit union that has total assets of $200 million or less; and is not currently subject to a formal enforcement proceeding or order by the National Credit Union Administration (NCUA). Such limitation shall not apply if the NCUA determines that such a credit union: (1) should be examined more often because of safety and soundness concerns, or (2) has violated the law.

 The NCUA shall issue a report on how this bill affects its budget.

Date: 2016-06-09
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Equal Access to Banking Act

This bill requires the Federal Deposit Insurance Corporation (FDIC) to issue regulations: (1) easing the restrictive impact of regulations issued pursuant to the Federal Deposit Insurance Act relating to the factors to be considered for deposit insurance on non-profit community development financial institution banks, and (2) easing restrictions on the operation of such banks insured by the FDIC.

 The FDIC shall ensure that such regulations issued under this bill: (1) will not provide an opportunity for individuals or for-profit financial institutions to avoid taxation or other requirements related to deposit insurance, and (2) allow charitable contributions and grants to such banks.

The FDIC shall terminate the deposit insurance of such a bank if the bank loses its certification as a community development financial institution.

The bill defines a "non-profit community development financial institution bank" as a non-profit depository institution that: (1) is certified as a community development financial institution by the Community Development Financial Institutions Fund, and (2) serves low-income and moderate-income customers.

Date: 2016-06-16
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Financial Services for the Underserved Act of 2016

This bill amends the Federal Credit Union Act to revise the requirements for allowing a federal credit union to extend its field of membership in an underserved area.

The credit union must be well capitalized or adequately capitalized, and within 24 months after approval by the National Credit Union Administration (NCUA) it must have established and maintained an ongoing method to provide services in the local community, neighborhood, or rural district. (The current requirement is that the credit union must, without a deadline, establish and maintain an office or facility in the local community, neighborhood, or rural district at which credit union services are available.)

Any failure of a federal credit union to meet the latter requirement by the end of the 24-month period shall constitute a termination, as a matter of law, of NCUA approval of its application regarding the credit union's membership.

Any federal credit union with an approved application for an underserved area must report annually to the NCUA on the number of:

 credit union members who are members by reason of that application; and offices or facilities maintained by the credit union in the local community, neighborhood, or rural district taken into account by the NCUA in approving the application. The bill defines "underserved area" generally as a geographic area consisting of a single census tract or a group of census tracts, each of which meets the criteria for a low-income community or is underserved by other depository institutions, based on data of the NCUA and the federal banking agencies.

Date: 2016-06-21
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
TITLE I--ENHANCING ANTITERRORISM TOOLS OF THE DEPARTMENT OF THE TREASURY

(Sec. 101) This bill revises the authority of the Department of the Treasury to issue an order imposing recordkeeping and reporting requirements upon financial institutions and nonfinancial trade or business groups in certain geographic areas regarding transactions for the payment, receipt, or transfer of U.S. coins or currency (or other monetary instruments as Treasury may describe in an order).

A Treasury order for recordkeeping and reporting may include all funds (not just U.S. coins or currency) involved in such transactions.

(Sec. 102) To improve the tracking of cross-border fund transfers and identify forms of terrorist financing, Treasury must report on: (1) the efficacy of requiring banking regulators to establish a pilot program to provide technical assistance to depository institutions and credit unions that wish to provide account services to money services businesses serving individuals in Somalia; (2) whether the pilot program could improve the ability of U.S. persons to make legitimate funds transfers through transparent monitored channels while complying with the Bank Secrecy Act and controls aimed at stopping money laundering and the financing of terrorism; and (3) information sharing mechanisms for depository institutions and credit unions to understand whether an individual money services business is meeting its obligations to combat illicit finance.

(Sec. 103) The bill expresses the sense of Congress that the Under Secretary for Terrorism and Financial Crimes should help foreign partners integrate intelligence analytic capacities with anti-money laundering and counter-terrorist financing regimes.

(Sec. 104) Treasury must report on the role of its financial attaches and technical advisors at U.S. embassies and their resources to assist in countering terrorist financing and money laundering.

TITLE II--NATIONAL STRATEGY FOR COMBATING TERRORIST AND OTHER ILLICIT FINANCING

(Sec. 201) Treasury must develop a national strategy with priorities to combat terrorist financing and prevent illicit finance activities within and transiting the U.S. financial system. The strategy must: (1) identify the most significant threats, (2) coordinate enforcement efforts at all levels of government and with international partners, and (3) describe efforts to ensure that data collected by the federal government is available in a timely fashion to agencies and appropriate financial institutions and that agencies make use of publicly available data.

Date: 2016-06-28
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Retail Checking Account Protection Act of 2016

This bill amends the Federal Deposit Insurance Act to provide that the stable retail deposits of an insured depository institution shall not be considered to be funds obtained by or through a deposit broker. Currently, stable retail deposits are considered brokered deposits. As a result, those deposits are subject to restrictions applicable to other brokered deposits, such as prohibitions on undercapitalized banks accepting brokered deposits. This bill would exclude stable retail deposits from those restrictions.

Date: 2016-07-07
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Protecting Consumers' Access to Credit Act of 2016

This bill amends the Revised Statutes and the Federal Deposit Insurance Act to state that bank loans that are valid when made as to their maximum rate of interest in accordance with federal law shall remain valid with respect to that rate regardless of whether a bank has subsequently sold or assigned the loan to a third party. (Under these laws, interest may be charged on loans to customers at the greater of: (1) a rate not more than 1% above the discount rate on 90-day commercial paper in effect at the Federal Reserve Bank for the district in which the lender is located, or (2) the highest rate allowed by the laws of the state in which the lender is located.)

Date: 2016-07-11
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Secure, Accessible, Valuable, Efficient Universal Pension Accounts Act or the SAVE UP Act 

This bill amends the Internal Revenue Code to establish the SAVE UP Account program to provide tax-exempt retirement accounts to employees who are not otherwise eligible for certain retirement plans.

The bill establishes: (1) a board of trustees to create and manage the accounts, (2) a board of governors to establish policies for the investment and management of fund assets, and (3) a trust fund and accounts in the Treasury for the program.

An employer must establish an account contribution program if: (1) the employer's aggregate number of employee hours of service during the preceding year was at least 1,600; (2) the employer does not offer a retirement plan to all employees. Government entities and churches are exempt from this requirement.

Under the contribution program, employers must: (1) contribute at least 50 cents per hour worked by the employee; and (2) make automatic contributions on behalf of employees who do not opt-out, beginning with 3% of wages and eventually increasing to 5%.

The bill sets forth requirements for: (1) determining an employee's share of positive net investment returns, and (2) paying benefits from the accounts in the form of an annuity

The bill allows a tax credit for certain small employers who elect to set up contribution programs for their employees.

If an employer fails to maintain a required contribution program, the bill disallows the deduction for compensation for services performed by employees of the employer.

Date: 2016-07-12
Topic: Domestic Commerce (Banking)
Subject: Taxation
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.

Date: 2016-07-14
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2016-07-14
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2016-09-09
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2016-09-21
Topic: Domestic Commerce (Banking)
Subject: Commerce
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.

Date: 2016-09-22
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2016-09-22
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2016-09-28
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2016-09-28
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2016-11-18
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2016-11-18
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-01-07
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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).

Date: 2015-01-07
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-02-04
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-02-12
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-03-12
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-03-18
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-03-19
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-03-26
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-04-14
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
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.

Date: 2015-04-14
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
This bill amends the Federal Deposit Insurance Act to increase from $500 million to $1 billion the asset size of small insured depository institutions eligible for 18-month on-site examination cycles.

A federal banking agency is granted discretion to increase the asset ceiling amount from $100 million to $1 billion (currently from $100 million to $500 million) if the greater asset size would be consistent with the principles of safety and soundness.

Date: 2015-04-16
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Federal Employees Sustainable Investment Act 

 Establishes the Corporate Responsibility Stock Index Fund as an investment option under the Thrift Savings Fund. Directs the Federal Retirement Thrift Investment Board to select a minimum of one index for such Fund comprised of stocks that have been analyzed and selected using basic criteria, including corporate governance, environmental practices, workplace relations and benefits, product safety and impact, international operations and human rights, involvement with repressive regimes, and community relations.

Date: 2015-04-30
Topic: Domestic Commerce (Banking)
Subject: Government operations and politics
Too Big to Fail, Too Big to Exist Act

 This bill directs the Financial Stability Oversight Council to compile and submit to the Secretary of the Treasury a list of entities that the Council deems Too Big To Fail (List), including U.S. bank holding companies the Financial Stability Board has identified as systemically important banks.

The Secretary of the Treasury shall: (1) submit the List to Congress and the President, and (2) break up entities on the List so that their failure would no longer cause a catastrophic effect upon the U.S. or global economy without a taxpayer bailout.

Any entity on the List may not use or have access to advances from any Federal Reserve credit facility, the Federal Reserve discount window, or any program or facility made available under the Federal Reserve Act, including asset purchases, temporary or bridge loans, government investments in debt or equity, or capital injections from any federal institution.

No insured depository institution on the List, nor any entity that owns one, may use insured deposit amounts to fund:

 any activity relating to hedging that is not directly related to commercial banking activity at the insured bank, any use of derivatives for speculative purposes, any activity related to the dealing of derivatives, or any other form of speculative activity specified by regulators. Nor may any entity on the List conduct such activities in a manner that either: (1) puts insured deposits at risk, or (2) creates a risk of loss to the Deposit Insurance Fund.

Date: 2015-05-06
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector
Salary Collection Regulatory Relief Act .

 Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the requirement that the Securities and Exchange Commission amend certain federal regulations about executive compensation to require each issuer of securities to disclose in any filing: (1) the median of the annual total compensation of all the issuer's employees, except the chief executive officer; (2) the annual total compensation of the chief executive officer; and (3) the ratio of the first amount to the second.

Date: 2015-07-08
Topic: Domestic Commerce (Banking)
Subject: Finance and financial sector