Bill Text
111th Congress (2009-2010)
H.R.3996.IH


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{title: 'THOMAS - Bill Text - H.R.3996.IH', link: 'http://thomas.loc.gov/cgi-bin/query/z?c111:H.R.3996.IH:/' }

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H.R.3996 -- To improve financial stability, and for other purposes. (Introduced in House - IH)


Beginning
November 3, 2009
TITLE I--FINANCIAL STABILITY IMPROVEMENT
    Sec. 1000. Short title; definitions; table of contents.
    Sec. 1315 Elimination of elective investment bank holding company framework.
Subtitle A--The Financial Services Oversight Council
    SEC. 1001. FINANCIAL SERVICES OVERSIGHT COUNCIL ESTABLISHED.
    SEC. 1002. RESOLUTION OF DISPUTES AMONG FEDERAL FINANCIAL REGULATORY AGENCIES.
    SEC. 1003. TECHNICAL AND PROFESSIONAL ADVISORY COMMITTEES.
    SEC. 1004. FINANCIAL SERVICES OVERSIGHT COUNCIL MEETINGS AND COUNCIL GOVERNANCE.
    SEC. 1005. COUNCIL STAFF AND FUNDING.
    SEC. 1006. REPORTS TO THE CONGRESS.
    SEC. 1007. APPLICABILITY OF CERTAIN FEDERAL LAWS.
Subtitle B--Prudential Regulation of Companies and Activities for Financial Stability Purposes
    SEC. 1101. COUNCIL AND BOARD AUTHORITY TO OBTAIN INFORMATION.
    SEC. 1102. COUNCIL PRUDENTIAL REGULATION RECOMMENDATIONS TO PRIMARY REGULATORS.
    SEC. 1103. IDENTIFICATION OF FINANCIAL COMPANIES FOR HEIGHTENED PRUDENTIAL STANDARDS FOR FINANCIAL STABILITY PURPOSES.
    SEC. 1104. REGULATION OF IDENTIFIED FINANCIAL HOLDING COMPANIES FOR FINANCIAL STABILITY PURPOSES.
    SEC. 1105. AUTHORITY TO FILE INVOLUNTARY PETITION FOR BANKRUPTCY.
    SEC. 1107. REGULATION OF IDENTIFIED ACTIVITIES FOR FINANCIAL STABILITY PURPOSES.
    SEC. 1108. EFFECT OF RESCISSION OF IDENTIFICATION.
    SEC. 1109. EMERGENCY FINANCIAL STABILIZATION.
    SEC. 1110. EXAMINATIONS AND ENFORCEMENT ACTIONS FOR INSURANCE AND RESOLUTIONS PURPOSES.
    SEC. 1111. RULE OF CONSTRUCTION.
Subtitle C--Improvements to Supervision and Regulation of Federal Depository Institutions
    SEC. 1201. DEFINITIONS.
    SEC. 1202. AMENDMENTS TO THE HOME OWNERS' LOAN ACT RELATING TO TRANSFER OF FUNCTIONS.
    SEC. 1203. AMENDMENTS TO THE REVISED STATUTES.
    `SEC. 324. COMPTROLLER OF THE CURRENCY.
    `SEC. 327 DEPUTY COMPTROLLERS.
    SEC. 1204. POWER AND DUTIES TRANSFERRED.
    SEC. 1205. TRANSFER DATE.
    SEC. 1206. OFFICE OF THRIFT SUPERVISION ABOLISHED.
    SEC. 1207. SAVINGS PROVISIONS.
    SEC. 1208. REGULATIONS AND ORDERS.
    SEC. 1209. COORDINATION OF TRANSITION ACTIVITIES.
    SEC. 1210. INTERIM RESPONSIBILITIES OF OFFICE OF THE COMPTROLLER OF THE CURRENCY AND OFFICE OF THRIFT SUPERVISION.
    SEC. 1211. EMPLOYEES TRANSFERRED.
    SEC. 1212. PROPERTY TRANSFERRED.
    SEC. 1213. FUNDS TRANSFERRED.
    SEC. 1214. DISPOSITION OF AFFAIRS.
    SEC. 1215. CONTINUATION OF SERVICES.
    SEC. 1216. TREATMENT OF SAVINGS AND LOAN HOLDING COMPANIES.
    SEC. 1217. PRACTICES OF CERTAIN MUTUAL THRIFT HOLDING COMPANIES PRESERVED.
    SEC. 1218. COMPOSITION OF BOARD OF DIRECTORS OF THE FEDERAL DEPOSIT INSURANCE CORPORATION.
    SEC. 1219. AMENDMENTS TO SECTION 3.
    SEC. 1220. AMENDMENTS TO SECTION 7.
    SEC. 1221. AMENDMENTS TO SECTION 8.
    SEC. 1222. AMENDMENTS TO SECTION 11.
    SEC. 1223. AMENDMENTS TO SECTION 13.
    SEC. 1224. AMENDMENTS TO SECTION 18.
    SEC. 1225. AMENDMENTS TO SECTION 28.
    SEC. 1226. AMENDMENTS TO THE ALTERNATIVE MORTGAGE TRANSACTION PARITY ACT OF 1982.
    SEC. 1227. AMENDMENTS TO THE BANK HOLDING COMPANY ACT OF 1956.
    SEC. 1228. AMENDMENTS TO THE BANK PROTECTION ACT OF 1968.
    SEC. 1229. AMENDMENTS TO THE BANK SERVICE COMPANY ACT.
    SEC. 1230. AMENDMENTS TO THE COMMUNITY REINVESTMENT ACT OF 1977.
    SEC. 1231. AMENDMENTS TO THE DEPOSITORY INSTITUTION MANAGEMENT INTERLOCKS ACT.
    SEC. 1232. AMENDMENTS TO THE EMERGENCY HOMEOWNER'S RELIEF ACT.
    SEC. 1233. AMENDMENTS TO THE EQUAL CREDIT OPPORTUNITY ACT.
    SEC. 1234. AMENDMENTS TO THE FEDERAL CREDIT UNION ACT.
    SEC. 1235. AMENDMENTS TO THE FEDERAL FINANCIAL INSTITUTIONS EXAMINATION COUNCIL ACT OF 1978.
    SEC. 1236. AMENDMENTS TO THE FEDERAL HOME LOAN BANK ACT.
    SEC. 1237. AMENDMENTS TO THE FEDERAL RESERVE ACT.
    SEC. 1238. AMENDMENTS TO THE FINANCIAL INSTITUTIONS REFORM, RECOVERY, AND ENFORCEMENT ACT OF 1989.
    SEC. 1239. AMENDMENTS TO THE HOUSING ACT OF 1948.
    SEC. 1240. AMENDMENTS TO THE HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1992.
    SEC. 1241. AMENDMENTS TO THE HOUSING AND URBAN-RURAL RECOVERY ACT OF 1983.
    SEC. 1242. AMENDMENTS TO THE NATIONAL HOUSING ACT.
    SEC. 1243. AMENDMENTS TO THE RIGHT TO FINANCIAL PRIVACY ACT OF 1978.
    SEC. 1244. AMENDMENTS TO THE BALANCED BUDGET AND EMERGENCY DEFICIT CONTROL ACT OF 1985.
    SEC. 1245. AMENDMENTS TO THE CRIME CONTROL ACT OF 1990.
    SEC. 1246. AMENDMENT TO THE FLOOD DISASTER PROTECTION ACT OF 1973.
    SEC. 1247. AMENDMENTS TO THE INVESTMENT COMPANY ACT OF 1940.
    SEC. 1248. AMENDMENTS TO THE NEIGHBORHOOD REINVESTMENT CORPORATION ACT.
    SEC. 1249. AMENDMENTS TO THE SECURITIES EXCHANGE ACT OF 1934.
    SEC. 1250. AMENDMENTS TO TITLE 18, UNITED STATES CODE.
    SEC. 1251. AMENDMENTS TO TITLE 31, UNITED STATES CODE.
    `Sec. 309. Division of Thrift Supervision
Subtitle D--Further Improvements to the Regulation of Bank Holding Companies and Depository Institutions
    `SEC. 6. SPECIAL-PURPOSE HOLDING COMPANIES.
    SEC. 1302. REGISTRATION OF CERTAIN COMPANIES AS BANK HOLDING COMPANIES.
    SEC. 1303. REPORTS AND EXAMINATIONS OF BANK HOLDING COMPANIES; REGULATION OF FUNCTIONALLY REGULATED SUBSIDIARIES.
    SEC. 1304. REQUIREMENTS FOR FINANCIAL HOLDING COMPANIES TO REMAIN WELL CAPITALIZED AND WELL MANAGED.
    SEC. 1305. STANDARDS FOR INTERSTATE ACQUISITIONS.
    SEC. 1306. ENHANCING EXISTING RESTRICTIONS ON BANK TRANSACTIONS WITH AFFILIATES.
    SEC. 1307. ELIMINATING EXCEPTIONS FOR TRANSACTIONS WITH FINANCIAL SUBSIDIARIES.
    SEC. 1309. APPLICATION OF NATIONAL BANK LENDING LIMITS TO INSURED STATE BANKS.
    SEC. 1310. RESTRICTION ON CONVERSIONS OF TROUBLED BANKS.
    `SEC. 7. PROHIBITION ON CERTAIN CONVERSIONS.
    SEC. 1311. LENDING LIMITS TO INSIDERS.
    SEC. 1312. LIMITATIONS ON PURCHASES OF ASSETS FROM INSIDERS.
    SEC. 1313. RULES REGARDING CAPITAL LEVELS OF BANK HOLDING COMPANIES.
    SEC. 1314. ENHANCEMENTS TO FACTORS TO BE CONSIDERED IN CERTAIN ACQUISITIONS.
    SEC. 1315. ELIMINATION OF ELECTIVE INVESTMENT BANK HOLDING COMPANY FRAMEWORK.
    SEC. 1316. EXAMINATION FEES FOR LARGE BANK HOLDING COMPANIES.
    `SEC. 5A. EXAMINATION FEES.
Subtitle E--Payment, Clearing, and Settlement Supervision
    SEC. 1401. SHORT TITLE.
    SEC. 1402. FINDINGS AND PURPOSES.
    SEC. 1403. DEFINITIONS.
    SEC. 1404. IDENTIFICATION OF SYSTEMICALLY IMPORTANT FINANCIAL MARKET UTILITIES AND PAYMENT, CLEARING, AND SETTLEMENT ACTIVITIES.
    SEC. 1405. STANDARDS FOR SYSTEMICALLY IMPORTANT FINANCIAL MARKET UTILITIES AND PAYMENT, CLEARING, OR SETTLEMENT ACTIVITIES.
    SEC. 1406. OPERATIONS AND CHANGES TO RULES, PROCEDURES, OR OPERATIONS OF IDENTIFIED FINANCIAL MARKET UTILITIES.
    SEC. 1407. EXAMINATION OF AND ENFORCEMENT ACTIONS AGAINST IDENTIFIED FINANCIAL MARKET UTILITIES.
    SEC. 1408. EXAMINATION OF AND ENFORCEMENT ACTIONS AGAINST FINANCIAL INSTITUTIONS SUBJECT TO STANDARDS FOR IDENTIFIED ACTIVITIES.
    SEC. 1409. PROVISION OF INFORMATION, REPORTS, OR RECORDS.
    SEC. 1410. RULEMAKING.
    SEC. 1411. OTHER AUTHORITY.
    SEC. 1412. EFFECTIVE DATE.
Subtitle F--Improvements to the Asset-backed Securitization Process
    SEC. 1501. SHORT TITLE.
    SEC. 1502. CREDIT RISK RETENTION.
    `SEC. 29. CREDIT RISK RETENTION.
    SEC. 1503. PERIODIC AND OTHER REPORTING UNDER THE SECURITIES EXCHANGE ACT OF 1934 FOR ASSET-BACKED SECURITIES.
    SEC. 1504. REPRESENTATIONS AND WARRANTIES IN ASSET-BACKED OFFERINGS.
    SEC. 1505. EXEMPTED TRANSACTIONS UNDER THE SECURITIES ACT OF 1933.
Subtitle G--Enhanced Resolution Authority
    SEC. 1601. SHORT TITLE.
    SEC. 1602. DEFINITIONS.
    SEC. 1603. SYSTEMIC RISK DETERMINATION.
    SEC. 1604. RESOLUTION; STABILIZATION.
    SEC. 1605. JUDICIAL REVIEW.
    SEC. 1606. DIRECTORS NOT LIABLE FOR ACQUIESCING IN APPOINTMENT OF RECEIVER OR QUALIFIED RECEIVER.
    SEC. 1607. TERMINATION AND EXCLUSION OF OTHER ACTIONS.
    SEC. 1608. RULEMAKING.
    SEC. 1609 POWERS AND DUTIES OF CORPORATION.
    SEC. 1611. MISCELLANEOUS PROVISIONS.
Subtitle H--Additional Improvements for Financial Crisis Management
    SEC. 1701. ADDITIONAL IMPROVEMENTS FOR FINANCIAL CRISIS MANAGEMENT.


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