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Congressional bills and resolutions from Congress.gov, filtered to policy areas relevant to environmental, health, agriculture, and wildlife regulation.

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211 rows where bill_type = "s", congress = 117 and policy_area = "Finance and Financial Sector" sorted by introduced_date descending

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policy_area 1

  • Finance and Financial Sector · 211 ✖

congress 1

  • 117 · 211 ✖

bill_type 1

  • s · 211 ✖
bill_id congress bill_type bill_number title policy_area introduced_date ▲ latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
117-s-5340 117 s 5340 Stablecoin TRUST Act of 2022 Finance and Financial Sector 2022-12-21 2022-12-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Toomey, Patrick [R-PA] PA R T000461 0 Stablecoin Transparency of Reserves and Uniform Safe Transactions Act of 2022 or the Stablecoin TRUST Act of 2022 This bill establishes a regulatory framework for payment stablecoins (digital assets which an issuer must directly convert to fiat currency). Specifically, the bill only allows the following entities to issue stablecoins a money transmitting business, a non-depository trust company, or any other person that is authorized by a state banking supervisor to issue payment stablecoins; a national limited payment stablecoin issuer; a depository institution; or a national trust bank. 2023-08-29T15:45:29Z https://www.congress.gov/bill/117th-congress/senate-bill/5340
117-s-5341 117 s 5341 Federal Reserve Accountability Act of 2022 Finance and Financial Sector 2022-12-21 2022-12-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Toomey, Patrick [R-PA] PA R T000461 6 Federal Reserve Accountability Act of 2022 This bill reduces the number of Federal Reserve districts from 12 to 5, requires Senate confirmation for Federal Reserve bank presidents, and makes other changes to the operation of the Federal Reserve Board and Federal Reserve banks. 2023-09-14T20:15:24Z https://www.congress.gov/bill/117th-congress/senate-bill/5341
117-s-5342 117 s 5342 Preserving Homes and Communities Act of 2022 Finance and Financial Sector 2022-12-21 2022-12-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S9780-9781) Senate Sen. Reed, Jack [D-RI] RI D R000122 3 Preserving Homes and Communities Act of 2022 This bill establishes requirements for the sale by the Department of Housing and Urban Development of non-performing single-family residential mortgages that are insured under the National Housing Act. 2023-09-01T19:00:26Z https://www.congress.gov/bill/117th-congress/senate-bill/5342
117-s-5345 117 s 5345 Consumer Transaction Account Protection Act of 2022 Finance and Financial Sector 2022-12-21 2022-12-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Moran, Jerry [R-KS] KS R M000934 0 Consumer Transaction Account Protection Act of 2022 This bill specifies that consumer transaction account deposits of an insured depository institution are not funds obtained through a deposit broker. In general, current law prohibits an insured depository institution that is not well capitalized from accepting for deposit funds obtained through a deposit broker. 2023-11-19T12:06:13Z https://www.congress.gov/bill/117th-congress/senate-bill/5345
117-s-5346 117 s 5346 Brokered Deposit Affiliate-Subsidiary Modernization Act of 2022 Finance and Financial Sector 2022-12-21 2022-12-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Moran, Jerry [R-KS] KS R M000934 0 Brokered Deposit Affiliate-Subsidiary Modernization Act of 2022 This bill excludes affiliates and subsidiaries of an insured depository institution from certain limitations applicable to brokered deposits. (Brokered deposits are a type of deposit accepted by an institution from a third-party deposit broker for investment purposes. Institutions that accept brokered deposits are subject to additional regulatory requirements, including those related to liquidity.) The bill also expands the definition of an employee of an insured depository institution, thereby exempting these individuals from treatment as a deposit broker. Specifically, the bill includes as an employee (1) an individual who receives compensation in any form from an insured depository institution or from an affiliate or subsidiary, and (2) a registered representative of a broker or dealer that is an affiliate or subsidiary of an insured depository institution. 2023-11-19T04:17:03Z https://www.congress.gov/bill/117th-congress/senate-bill/5346
117-s-5347 117 s 5347 Asset Growth Restriction Act of 2022 Finance and Financial Sector 2022-12-21 2022-12-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Moran, Jerry [R-KS] KS R M000934 0 Asset Growth Restriction Act of 2022 This bill repeals restrictions related to brokered deposits and provides for asset growth restrictions applicable to insured depository institutions. Brokered deposits are deposits made to an insured institution, such as a bank, through a third-party broker for investment purposes. Currently, only well-capitalized banks are allowed to solicit and accept brokered deposits, while institutions that are adequately capitalized may accept if granted a waiver. Undercapitalized banks are prohibited from accepting these deposits. The bill repeals these brokered deposit restrictions and directs the Federal Deposit Insurance Corporation to establish limits on growth of average total assets for less than well-capitalized institutions to maintain their safety and soundness. 2023-11-19T21:34:59Z https://www.congress.gov/bill/117th-congress/senate-bill/5347
117-s-5300 117 s 5300 Financial Regulators Transparency Act of 2022 Finance and Financial Sector 2022-12-19 2022-12-19 Read twice and referred to the Committee on the Judiciary. Senate Sen. Toomey, Patrick [R-PA] PA R T000461 3 Financial Regulators Transparency Act of 2022 This bill makes certain disclosure and ethics requirements applicable to the Federal Reserve banks and financial regulators. For example, the bill makes Federal Reserve banks subject to Freedom of Information Act requests and makes financial regulators subject to congressional ethics inquiries. 2023-09-14T17:30:26Z https://www.congress.gov/bill/117th-congress/senate-bill/5300
117-s-5264 117 s 5264 Protecting America's Economy from the Carbon Bubble Act of 2022 Finance and Financial Sector 2022-12-15 2022-12-15 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Merkley, Jeff [D-OR] OR D M001176 0 Protecting America's Economy from the Carbon Bubble Act of 2022 This bill prohibits certain financial companies (including bank holding companies, savings and loan holding companies, and insured depository institutions) from involvement in fossil fuel production. Prohibited activities include providing loans to and making investments in fossil fuel companies or projects, facilitating transactions that fund new fossil fuel production, securitizing assets that provide funds for new fossil fuel production, and entering into certain derivatives transactions related to new fossil fuel production. Violators are subject to criminal and civil penalties. 2023-03-09T01:16:02Z https://www.congress.gov/bill/117th-congress/senate-bill/5264
117-s-5267 117 s 5267 Digital Asset Anti-Money Laundering Act of 2022 Finance and Financial Sector 2022-12-15 2022-12-15 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Warren, Elizabeth [D-MA] MA D W000817 1 Digital Asset Anti-Money Laundering Act of 2022 This bill directs specified federal financial agencies to establish rules regarding digital assets. The Financial Crimes Enforcement Network (FinCEN) must establish a rule classifying digital asset wallet providers, cryptocurrency miners, validators, and others as money service businesses. In addition, FinCEN must require U.S. persons to report cryptocurrency transactions through foreign accounts of over $10,000. FinCEN must also require digital asset kiosk owners and administrators to submit and update every three months the physical addresses of the kiosks. The Department of the Treasury must prohibit financial institutions from handling, using, or transacting business with (1) digital asset mixers, privacy coins, and other anonymity-enhancing technologies; and (2) digital assets that have been anonymized by these technologies. Treasury, the Securities and Exchange Commission, and the Commodity Futures Trading Commission must establish risk examination and review processes for anti-money laundering requirements for their respective regulated entities. 2023-05-04T03:45:51Z https://www.congress.gov/bill/117th-congress/senate-bill/5267
117-s-5280 117 s 5280 CFPB Stability Act of 2022 Finance and Financial Sector 2022-12-15 2022-12-15 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Toomey, Patrick [R-PA] PA R T000461 1 CFPB Stability Act of 2022 This bill restructures the leadership and funding of the Consumer Financial Protection Bureau. Specifically, the bill removes the bureau from the Federal Reserve System. Additionally, the bill eliminates the positions of director and deputy director and establishes a five-person panel appointed by the President and confirmed by the Senate, with not more than three members belonging to any one political party. Under the bill, the inspector general of the bureau must be appointed by the President and confirmed by the Senate. Under current law, the inspector general of the Federal Reserve Board also serves as the inspector general of the bureau. Further, the source of funding for the bureau is changed from Federal Reserve System transfers to annual appropriations. Under current law, the transfers from the Federal Reserve System permit the bureau to be funded outside of the annual appropriations process. 2023-03-08T20:14:08Z https://www.congress.gov/bill/117th-congress/senate-bill/5280
117-s-5286 117 s 5286 Responsible Self-Regulation Act of 2022 Finance and Financial Sector 2022-12-15 2022-12-15 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Lummis, Cynthia M. [R-WY] WY R L000571 0 Responsible Self-Regulation Act of 2022 This bill provides for the registration of an association of digital asset intermediaries with the Securities and Exchange Commission and the Commodity Futures Trading Commission. Upon the written request of a member of the association, a registered digital asset association is allowed to make an initial determination of the legal character of a digital asset, including as a security, an ancillary asset, or a commodity. 2023-09-01T19:00:25Z https://www.congress.gov/bill/117th-congress/senate-bill/5286
117-s-5291 117 s 5291 A bill to delay the implementation of the modifications of exceptions for reporting of third party network transactions. Finance and Financial Sector 2022-12-15 2022-12-15 Read twice and referred to the Committee on Finance. Senate Sen. Capito, Shelley Moore [R-WV] WV R C001047 0 This bill delays the implementation of a de minimis exception to the tax reporting requirements of third party network transactions for transactions not exceeding $600. 2023-03-02T00:13:27Z https://www.congress.gov/bill/117th-congress/senate-bill/5291
117-s-5189 117 s 5189 Close the Shadow Banking Loophole Act Finance and Financial Sector 2022-12-06 2022-12-06 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Brown, Sherrod [D-OH] OH D B000944 2 Close the Shadow Banking Loophole Act This bill (1) provides for the federal regulation and supervision of industrial banks, also known as industrial loan companies (ILCs), and their parent companies; and (2) sets forth a deadline for the consideration of pending ILC Federal Deposit Insurance Corporation (FDIC) deposit insurance applications. ILCs are state chartered institutions owned by nonfinancial businesses (parent companies) that provide several services similar to banks, such as originating loans and processing payments. The parent companies are not subject to supervision by the Federal Reserve Board. Under current law, the Federal Deposit Insurance Corporation (FDIC) may grant deposit insurance to these institutions. 2023-09-01T12:45:20Z https://www.congress.gov/bill/117th-congress/senate-bill/5189
117-s-5183 117 s 5183 A bill to amend the Federal Credit Union Act to provide a sunset for certain ways in which credit unions may be Agent members of the National Credit Union Administration Central Liquidity Facility. Finance and Financial Sector 2022-12-05 2022-12-05 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S6964) Senate Sen. Padilla, Alex [D-CA] CA D P000145 1 This bill temporarily provides the National Credit Union Administration Board with discretion in determining the amount of capital stock in the National Credit Union Administration Central Liquidity Facility required for a corporate credit union to become an agent member of the facility. The facility serves as a liquidity lender to member credit unions. 2023-02-23T11:11:37Z https://www.congress.gov/bill/117th-congress/senate-bill/5183
117-s-5135 117 s 5135 Protect Farmers from the SEC Act Finance and Financial Sector 2022-11-28 2022-11-28 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Boozman, John [R-AR] AR R B001236 7 Protect Farmers from the SEC Act This bill prohibits the Securities and Exchange Commission from requiring the disclosure of greenhouse gas emissions related to agricultural products. 2023-02-10T05:26:52Z https://www.congress.gov/bill/117th-congress/senate-bill/5135
117-s-5099 117 s 5099 SAFE Lending Act of 2022 Finance and Financial Sector 2022-11-16 2022-11-16 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Merkley, Jeff [D-OR] OR D M001176 13 Stopping Abuse and Fraud in Electronic Lending Act of 2022 or the SAFE Lending Act of 2022 This bill revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information. Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.) A voluntary agreement to repay a small-dollar consumer credit transaction by an electronic fund transfer is subject to certain protections, including the right of the consumer to stop payment. Small-dollar consumer credit providers must register with the Consumer Financial Protection Bureau. Any small-dollar consumer credit transaction is subject to the laws of the state in which the consumer resides. The bill also prohibits overdraft fees on prepaid accounts. 2023-02-10T05:24:43Z https://www.congress.gov/bill/117th-congress/senate-bill/5099
117-s-5112 117 s 5112 250th Anniversary of the United States Marine Corps Commemorative Coin Act Finance and Financial Sector 2022-11-16 2022-11-16 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Blumenthal, Richard [D-CT] CT D B001277 8 250th Anniversary of the United States Marine Corps Commemorative Coin Act This bill directs the Department of the Treasury to mint and issue not more than 50,000 $5 gold coins, 400,000 $1 silver coins, and 750,000 half-dollar clad coins emblematic of the 250th anniversary of the United States Marine Corps. All surcharges received by Treasury from the sale of such coins must be paid to the Marine Corps Heritage Foundation and shall only be used for the purposes of supporting the mission of the Marine Corps Heritage Center. 2023-03-29T15:33:34Z https://www.congress.gov/bill/117th-congress/senate-bill/5112
117-s-5097 117 s 5097 SLAP Act Finance and Financial Sector 2022-11-15 2022-11-15 Read twice and referred to the Committee on the Judiciary. Senate Sen. Manchin, Joe, III [D-WV] WV D M001183 0 Stop Looting American Pensions Act of 2022 or the SLAP Act This bill revises certain bankruptcy requirements, including by providing additional protections for employee pay and pensions in the event of a bankruptcy. Specifically, the bill revises the bankruptcy priority requirements of claims for wages and contributions to employee benefit plans, including by increasing the cap of these payments and by eliminating the time period limitation for which unpaid wages and contributions may be claimed; increases the bankruptcy priority of minimum funding contributions towards employee pension benefit plans and withdrawal liability and requires companies to continue making these payments during bankruptcy; expands restrictions on executive pay; places restrictions on the sale of property in bankruptcy proceedings, including by requiring reasonable payment; and extends look back periods regarding fraudulent transfers from two years to six years. 2023-02-22T07:25:20Z https://www.congress.gov/bill/117th-congress/senate-bill/5097
117-s-5004 117 s 5004 Alleviating Stress Test Burdens to Help Investors Act Finance and Financial Sector 2022-09-29 2022-09-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Rounds, Mike [R-SD] SD R R000605 1 Alleviating Stress Test Burdens To Help Investors Act This bill exempts certain financial companies not primarily regulated by either a federal banking agency or the Federal Housing Finance Agency from requirements to conduct stress tests. These stress tests evaluate the ability of companies to absorb losses as a result of adverse economic conditions. However, the Securities and Exchange Commission and the Commodity Futures Trading Commission may require exempted financial companies under their regulatory authority to conduct stress tests. 2023-03-08T20:12:14Z https://www.congress.gov/bill/117th-congress/senate-bill/5004
117-s-5005 117 s 5005 Mandatory Materiality Requirement Act of 2022 Finance and Financial Sector 2022-09-29 2022-12-13 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. Senate Sen. Rounds, Mike [R-SD] SD R R000605 7 Mandatory Materiality Requirement Act of 2022 This bill limits additional disclosure requirements applicable to issuers of securities. Specifically, the Securities and Exchange Commission may only require an additional disclosure if the commission determines that there is a substantial likelihood that a reasonable investor of the issuer would consider the information important with respect to an investment decision. 2023-09-01T15:30:25Z https://www.congress.gov/bill/117th-congress/senate-bill/5005
117-s-5030 117 s 5030 Digital Trading Clarity Act of 2022 Finance and Financial Sector 2022-09-29 2022-09-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Hagerty, Bill [R-TN] TN R H000601 0 Digital Trading Clarity Act of 2022 This bill establishes a safe harbor from securities regulation for certain digital asset exchanges and intermediaries. This safe harbor applies if (1) such digital asset is not classified as a security by the Securities and Exchange Commission (SEC) or by a U.S. court; and (2) the exchange or intermediary complies with requirements regarding listings, customer protection, and disclosures. If a digital asset is determined to be a security and otherwise meets these requirements, the exchange or intermediary has a two year period during which the SEC may not pursue specified enforcement activity against the exchange or intermediary. 2023-02-11T05:17:09Z https://www.congress.gov/bill/117th-congress/senate-bill/5030
117-s-5049 117 s 5049 Financial Institutions Examination Fairness and Reform Act Finance and Financial Sector 2022-09-29 2022-09-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Moran, Jerry [R-KS] KS R M000934 0 Financial Institutions Examination Fairness and Reform Act This bill (1) sets deadlines for final examination reports and exit interviews of a financial institution by a federal financial regulatory agency, and (2) establishes the Office of Independent Examination Review to adjudicate appeals and investigate complaints from financial institutions concerning examination reports. The bill also requires the establishment of an independent internal agency appellate process at the Consumer Financial Protection Bureau (CFPB) for the review of supervisory determinations made at institutions supervised by the CFPB. 2023-03-08T20:12:14Z https://www.congress.gov/bill/117th-congress/senate-bill/5049
117-s-4980 117 s 4980 Consumer Bankruptcy Reform Act of 2022 Finance and Financial Sector 2022-09-28 2022-09-28 Read twice and referred to the Committee on Finance. Senate Sen. Warren, Elizabeth [D-MA] MA D W000817 1 Consumer Bankruptcy Reform Act of 2022 This bill generally revises consumer bankruptcy law by establishing a new Chapter 10 for individual debtors with not more than $7.5 million in debt. The bill eliminates the ability of individual debtors to file for bankruptcy under Chapter 7 liquidation bankruptcy and repeals Chapter 13, which requires individual debtors to comply with a repayment plan to receive a discharge of debt. Under Chapter 10, debtors may receive a discharge of debt through making minimum payment obligations based on the debtor's assets and income which may result in immediate discharge for individuals with no minimum payment obligation. The bill also provides for residential protections for debtors and revises what type of debt is dischargeable in bankruptcy. An individual may obtain a discharge under Chapter 10 once every six years. Individuals may seek limited bankruptcy proceedings on certain debts, such as a home mortgage. The bill also establishes consumer bankruptcy protections, including by creating a Consumer Bankruptcy Ombuds at the Consumer Financial Protection Bureau. 2023-01-11T13:50:18Z https://www.congress.gov/bill/117th-congress/senate-bill/4980
117-s-4985 117 s 4985 Cryptocurrency Cybersecurity Information Sharing Act Finance and Financial Sector 2022-09-28 2022-09-28 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Blackburn, Marsha [R-TN] TN R B001243 1 Cryptocurrency Cybersecurity Information Sharing Act This bill revises the Cybersecurity Information Sharing Act of 2015 to include cryptocurrency companies and insurance providers that insure against cybersecurity threats. The act allows companies to share information regarding cybersecurity threats with the federal government and with one another. The Financial Crimes Enforcement Network and the Cybersecurity and Infrastructure Security Agency must set forth procedures for these companies to provide notice to the federal government of such threats. 2023-02-01T05:15:41Z https://www.congress.gov/bill/117th-congress/senate-bill/4985
117-s-4992 117 s 4992 Helping Startups Continue to Grow Act of 2022 Finance and Financial Sector 2022-09-28 2022-12-13 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. Senate Sen. Scott, Tim [R-SC] SC R S001184 1 Helping Startups Continue to Grow Act of 2022 This bill allows certain issuers of securities regulated as emerging growth companies to continue operating under such regulations, including those related to reduced disclosures and other exemptions, for an additional five years. 2023-09-01T15:15:21Z https://www.congress.gov/bill/117th-congress/senate-bill/4992
117-s-4994 117 s 4994 No Digital Dollar Act Finance and Financial Sector 2022-09-28 2022-09-28 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Lankford, James [R-OK] OK R L000575 0 No Digital Dollar Act This bill prohibits the use of a central bank digital currency as legal tender. Further, if a central bank digital currency is issued, (1) the Federal Reserve Board must continue issuing Federal Reserve notes, and (1) the Department of the Treasury must continue minting and issuing coins. 2023-01-11T13:50:20Z https://www.congress.gov/bill/117th-congress/senate-bill/4994
117-s-4952 117 s 4952 Savings Security Act of 2022 Finance and Financial Sector 2022-09-27 2022-09-27 Read twice and referred to the Committee on Finance. Senate Sen. Fischer, Deb [R-NE] NE R F000463 2 Savings Security Act of 2022 This bill increases during periods of higher inflation the annual purchase limit applicable to certain government bonds. Specifically, individuals may annually purchase up to $30,000 in Series I U.S. savings bonds when, during that year, the six-month average consumer price index is above 3.5%. Currently, annual purchases are capped at $15,000 per person. 2023-01-31T05:19:21Z https://www.congress.gov/bill/117th-congress/senate-bill/4952
117-s-4946 117 s 4946 Payments Modernization Act of 2022 Finance and Financial Sector 2022-09-22 2022-09-22 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Van Hollen, Chris [D-MD] MD D V000128 1 Payments Modernization Act of 2022 This bill requires the Federal Reserve Board to create a real-time payment system that allows funds to be available to any end user immediately at any time, including funds deposited at a depository institution. 2023-02-07T05:16:27Z https://www.congress.gov/bill/117th-congress/senate-bill/4946
117-s-4889 117 s 4889 Federal Reserve Loss Transparency Act Finance and Financial Sector 2022-09-20 2022-09-20 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Hagerty, Bill [R-TN] TN R H000601 0 Federal Reserve Loss Transparency Act This bill prohibits transfers to the Consumer Financial Protection Bureau from the Board of Governors of the Federal Reserve System if Federal Reserve banks incur specified quarterly operating losses. The bureau is directly funded through transfers from the board. 2023-03-08T20:12:49Z https://www.congress.gov/bill/117th-congress/senate-bill/4889
117-s-4879 117 s 4879 Expanding Financial Access for Underserved Communities Act Finance and Financial Sector 2022-09-19 2022-09-19 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S4823) Senate Sen. Padilla, Alex [D-CA] CA D P000145 0 Expanding Financial Access for Underserved Communities Act This bill eases credit union membership requirements to allow more access for persons in underserved areas. A credit union must, however, submit a business and marketing plan to the National Credit Union Administration explaining the credit union's ability and intent to serve such population. The bill also excludes loans made to members in underserved areas from certain credit union limits on member business loans. 2023-09-01T13:15:21Z https://www.congress.gov/bill/117th-congress/senate-bill/4879
117-s-4857 117 s 4857 Private Markets Transparency and Accountability Act Finance and Financial Sector 2022-09-15 2022-12-14 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Reed, Jack [D-RI] RI D R000122 2 Private Markets Transparency and Accountability Act This bill requires certain private companies to register with the Securities and Exchange Commission (SEC) and thereby publicly disclose business practices and financial information. Under current law, companies with assets exceeding $10 million and with a class of securities held by either 2,000 persons, or 500 persons who are not accredited investors, must register with the SEC. In addition, the bill requires companies to register if (1) their valuation exceeds $700 million, or (2) their annual revenue exceeds $5 billion and they have at least 5,000 employees. 2023-08-18T14:45:21Z https://www.congress.gov/bill/117th-congress/senate-bill/4857
117-s-4869 117 s 4869 Saving Privacy Act Finance and Financial Sector 2022-09-15 2022-09-15 Read twice and referred to the Committee on Finance. Senate Sen. Lee, Mike [R-UT] UT R L000577 2 Saving Privacy Act This bill adjusts certain amounts for inflation, including reporting thresholds applicable to financial transactions, the threshold for the criminal offense of cash smuggling, and tax return thresholds for cash receipts. 2023-03-08T20:12:35Z https://www.congress.gov/bill/117th-congress/senate-bill/4869
117-s-4831 117 s 4831 No CBDC Act Finance and Financial Sector 2022-09-13 2022-09-13 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Lee, Mike [R-UT] UT R L000577 2 No Central Bank Digital Currency Act or the No CBDC Act This bill generally prohibits the Federal Reserve Board, Federal Reserve Banks, the Department of the Treasury, and other agencies from issuing or using a central bank digital currency. 2023-01-19T05:16:15Z https://www.congress.gov/bill/117th-congress/senate-bill/4831
117-s-4751 117 s 4751 A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes. Finance and Financial Sector 2022-08-03 2022-08-03 Read twice and referred to the Committee on Finance. Senate Sen. Toomey, Patrick [R-PA] PA R T000461 4 This bill excludes certain persons from being considered a broker for tax reporting purposes. Under current law, the transfer of digital assets from a broker to a nonbroker requires the broker to file a return beginning on January 1, 2024. The bill provides that a broker does not include any person solely engaged in the business of (1) validating distributed ledger transactions, or (2) selling hardware or software for which the sole function is to permit access to digital assets on a distributed ledger. 2023-01-18T05:17:08Z https://www.congress.gov/bill/117th-congress/senate-bill/4751
117-s-4757 117 s 4757 TICKER Act Finance and Financial Sector 2022-08-03 2022-08-03 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Scott, Rick [R-FL] FL R S001217 1 Trading and Investing with Clear Knowledge and Expectations about Risk Act or the TICKER Act This bill requires the identification of consolidated variable interest entities on securities exchanges. Specifically, the symbol used on the exchange must identify these entities as consolidated variable interest entities. (A consolidated variable interest entity is a business structure where an investor holds a controlling interest in an entity through contractual agreements rather than having a majority of voting rights.) In addition, the Securities and Exchange Commission must require brokers and dealers to warn investors in these entities that those investors may lack legal recourse with respect to these investments. 2023-01-19T05:15:28Z https://www.congress.gov/bill/117th-congress/senate-bill/4757
117-s-4760 117 s 4760 Digital Commodities Consumer Protection Act of 2022 Finance and Financial Sector 2022-08-03 2022-09-15 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Stabenow, Debbie [D-MI] MI D S000770 6 Digital Commodities Consumer Protection Act of 2022 This bill grants exclusive jurisdiction to the Commodity Futures Trading Commission over activity involving digital commodities as specified by the bill. The bill defines digital commodities as fungible digital forms of personal property that can be transferred person-to-person without an intermediary. Excluded from this definition are securities, interests in physical commodities, and U.S.-backed digital currencies. The commission does not have jurisdiction over digital commodities used solely for the purchase or sale of a good or service. Digital commodity platforms (including brokers, custodians, dealers, and trading facilities) must register with the commission and comply with risk management and good governance procedures. The bill also sets forth recordkeeping requirements, conflict of interest standards, and other consumer protections. 2023-09-01T15:15:20Z https://www.congress.gov/bill/117th-congress/senate-bill/4760
117-s-4689 117 s 4689 ACCESS Rural America Act Finance and Financial Sector 2022-08-01 2022-08-01 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Baldwin, Tammy [D-WI] WI D B001230 3 Access to Capital Creates Economic Strength and Supports Rural America Act or the ACCESS Rural America Act This bill increases the shareholder registration threshold for issuers receiving support through federal universal service support mechanisms, which provide communication services to underserved areas. 2023-01-11T13:50:19Z https://www.congress.gov/bill/117th-congress/senate-bill/4689
117-s-4698 117 s 4698 Improving Cybersecurity of Credit Unions Act Finance and Financial Sector 2022-08-01 2022-11-15 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Ossoff, Jon [D-GA] GA D O000174 2 Improving Cybersecurity of Credit Unions Act This bill subjects credit union organizations and third-party service providers to examination and regulation by the National Credit Union Administration to the same extent as insured credit unions. 2023-09-01T14:30:25Z https://www.congress.gov/bill/117th-congress/senate-bill/4698
117-s-4657 117 s 4657 Investor Justice Act of 2022 Finance and Financial Sector 2022-07-28 2022-07-28 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Cortez Masto, Catherine [D-NV] NV D C001113 2 Investor Justice Act of 2022 This bill establishes grants for investor advocacy clinics. To qualify, clinics associated with a law school or a tax-exempt organization must provide free legal representation to investors with securities arbitration and mediation claims pending before a registered national securities association. 2022-12-29T18:48:38Z https://www.congress.gov/bill/117th-congress/senate-bill/4657
117-s-4671 117 s 4671 GREEN Appraisals Act of 2022 Finance and Financial Sector 2022-07-28 2022-07-28 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Bennet, Michael F. [D-CO] CO D B001267 0 Getting Renewable and Energy Efficient Neighborhoods Appraisals Act of 2022 or the GREEN Appraisals Act of 2022 This bill requires lenders that originate federally backed residential mortgages to notify borrowers of their right to request an energy report concerning the property. The bill also requires, upon consent of the borrower, the lender to provide to an appraiser any available energy report concerning the property. The appraiser must take this report into consideration when appraising the value of the property. 2023-01-11T13:50:17Z https://www.congress.gov/bill/117th-congress/senate-bill/4671
117-s-4674 117 s 4674 Credit Card Competition Act of 2022 Finance and Financial Sector 2022-07-28 2022-07-28 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Durbin, Richard J. [D-IL] IL D D000563 1 Credit Card Competition Act of 2022 This bill addresses network access and competition in electronic credit transactions. The bill generally prohibits credit card issuers from restricting the number of payment card networks on which an electronic credit transaction may be processed. Specifically, the Board of Governors of the Federal Reserve System must prohibit certain credit card issuers with assets of over $100 billion from restricting the number of networks on which credit card transactions may be processed to one network, two or more networks operated by affiliated networks or persons, or the two networks with the largest market share of credit cards issued. Additionally, credit card issuers are prohibited from imposing certain limitations on the routing of electronic credit transactions, such as through penalties for failure to meet a specified threshold of transactions on a particular payment card network. The board must also provide for the designation of payment card networks that pose a security risk to the United States or are owned, operated, or sponsored by a foreign state entity. 2022-12-29T18:48:37Z https://www.congress.gov/bill/117th-congress/senate-bill/4674
117-s-4610 117 s 4610 Food and Energy Security Act Finance and Financial Sector 2022-07-26 2022-07-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S3696) Senate Sen. Thune, John [R-SD] SD R T000250 11 Food and Energy Security Act This bill provides requirements for specified federal financial agencies when regulating activity that could impact the extension of capital or investments to agricultural- or energy-related businesses. Specifically, an agency must analyze the economic impact of any such regulation. If the analysis estimates that the regulation would increase prices, and if the consumer price index exceeds a certain level, the agency is prohibited from implementing the regulation. 2022-12-29T18:48:39Z https://www.congress.gov/bill/117th-congress/senate-bill/4610
117-s-4619 117 s 4619 Fair Access to Financial Services Act of 2022 Finance and Financial Sector 2022-07-26 2022-12-01 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Brown, Sherrod [D-OH] OH D B000944 18 Fair Access to Financial Services Act of 2022 This bill prohibits financial institutions from discriminating on the basis of race, color, religion, national origin, or sex, including sexual orientation and gender identity. The bill also provides an aggrieved person with a private right of action for preventive relief. 2023-09-01T14:15:20Z https://www.congress.gov/bill/117th-congress/senate-bill/4619
117-s-4551 117 s 4551 ISA Student Protection Act of 2022 Finance and Financial Sector 2022-07-19 2022-07-19 Read twice and referred to the Committee on Finance. Senate Sen. Young, Todd [R-IN] IN R Y000064 3 ISA Student Protection Act of 2022 This bill sets forth consumer protections and other requirements for educational income share agreements (ISAs). In an educational ISA, a provider credits or advances funding for a recipient's postsecondary education or other training; in turn, the recipient agrees to pay the provider a percentage of the recipient's future earnings over a set period of time. (The Department of Education currently considers educational ISAs as private education loans for the purposes of preferred lender arrangement disclosures.) Under the bill, the recipient is only obligated to pay back the provider if the recipient earns over a certain amount. The recipient's obligation to pay ends at the specified time even if the recipient does not pay back the full amount of the funding. Further, payments are limited to 20% of the recipient's income. Recipients earning under a certain threshold are exempt from payments. If a recipient files for bankruptcy, ISAs are not subject to the same undue hardship standard typical of student loan discharges, therefore making these agreements easier to discharge. The bill also applies current consumer loan protections to these agreements. A provider must make certain disclosures to the recipient before entering into an ISA, including how payments are calculated, the length of the agreement, and how these agreements compare to student loan options. The bill establishes the tax treatment of ISAs, including by exempting from taxable income the amounts received under an ISA. 2023-04-11T12:15:15Z https://www.congress.gov/bill/117th-congress/senate-bill/4551
117-s-4532 117 s 4532 Strengthening Community Business Development Act Finance and Financial Sector 2022-07-14 2022-07-14 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Hassan, Margaret Wood [D-NH] NH D H001076 0 Strengthening Community Business Development Act This bill expands the factors allowed to be considered by a supervising agency when evaluating a financial institution's compliance with community reinvestment standards. Specifically, the bill allows a supervising agency to consider the efforts of a financial institution that deny business loans to low- and moderate-income borrowers to refer these borrowers to community business development organizations or to provide these borrowers directly with business development resources. 2022-12-29T18:33:45Z https://www.congress.gov/bill/117th-congress/senate-bill/4532
117-s-4533 117 s 4533 NFIP Extension Act of 2022 Finance and Financial Sector 2022-07-14 2022-07-14 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Kennedy, John [R-LA] LA R K000393 3 NFIP Extension Act of 2022 This bill reauthorizes the National Flood Insurance Program through September 30, 2023. The bill shall take effect as if it had been enacted on September 30, 2022, the date the program is set to expire under current law. 2022-12-29T18:33:45Z https://www.congress.gov/bill/117th-congress/senate-bill/4533
117-s-4537 117 s 4537 Scaling Community Lenders Act of 2022 Finance and Financial Sector 2022-07-14 2022-07-14 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Warner, Mark R. [D-VA] VA D W000805 1 Scaling Community Lenders Act of 2022 This bill allows the Community Development Financial Institutions Fund to provide guarantees, loan loss reserves, or other forms of credit to promote liquidity for Community Development Financial Institutions. The bill also removes matching requirements, establishes eligibility requirements and projects prioritization, and increases the cap on the allowed assistance available to an organization. 2022-12-29T18:33:45Z https://www.congress.gov/bill/117th-congress/senate-bill/4537
117-s-4522 117 s 4522 Transparency in CFPB Cost-Benefit Analysis Act Finance and Financial Sector 2022-07-13 2022-07-13 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Kennedy, John [R-LA] LA R K000393 3 Transparency in CFPB Cost-Benefit Analysis Act This bill sets forth information required to be included in a rulemaking made by the Consumer Financial Protection Bureau (CFPB). Specifically, the CFPB must publish a justification of the proposed rulemaking; a quantitative and qualitative assessment of all anticipated direct and indirect costs and benefits; alternatives to the proposed rulemaking; impacts on small businesses; and any assumptions, data, or studies used in preparing this information. 2022-12-29T18:33:45Z https://www.congress.gov/bill/117th-congress/senate-bill/4522
117-s-4382 117 s 4382 LA28 Olympic and Paralympic Games Commemorative Coin Act Finance and Financial Sector 2022-06-13 2022-06-13 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S2912) Senate Sen. Padilla, Alex [D-CA] CA D P000145 4 LA28 Olympic and Paralympic Games Commemorative Coin Act This bill directs the Department of the Treasury to mint coins in commemoration of the 2028 Olympic and Paralympic Games in Los Angeles, California. All surcharges received by Treasury from the sale of the coins shall be promptly paid by Treasury to the United States Olympic and Paralympic Properties for the objects and purposes related to the hosting of the 2028 Olympic and Paralympic Games and to aid in the execution of its legacy programs, including the promotion of youth sports in the United States. Treasury is encouraged to develop and execute a marketing and educational program to promote and sell the coins. 2022-12-29T17:33:52Z https://www.congress.gov/bill/117th-congress/senate-bill/4382
117-s-4356 117 s 4356 Lummis-Gillibrand Responsible Financial Innovation Act Finance and Financial Sector 2022-06-07 2022-11-15 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Lummis, Cynthia M. [R-WY] WY R L000571 1 Lummis-Gillibrand Responsible Financial Innovation Act This bill provides for the regulation of digital assets. The bill delineates the jurisdiction over digital assets held by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). For example, the bill provides that the SEC has jurisdiction over digital assets that provide their holders with financial interest in a business entity, while the CFTC has jurisdiction over digital assets that do not. In addition, digital asset exchanges are allowed to register with the CFTC. Under the bill, depository institutions are allowed to issue payment stablecoins. The bill sets forth requirements, including that institutions must hold in reserves 100% of the value of all outstanding stablecoins and allow stablecoins to be redeemed on a one-to-one basis. The bill also provides for the tax treatment of digital assets, including an exemption from income tax for purchases using digital assets that result in a gain or loss of $200 or less. Finally, the bill provides for various reports, studies, and consumer protection standards. 2023-09-01T14:00:28Z https://www.congress.gov/bill/117th-congress/senate-bill/4356
117-s-4325 117 s 4325 Credit Union Board Modernization Act Finance and Financial Sector 2022-05-26 2022-05-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Sinema, Kyrsten [D-AZ] AZ D S001191 20 Credit Union Board Modernization Act This bill revises the frequency of meetings required to be held by a credit union's board of directors. Specifically, the bill requires monthly meetings for new credit unions during their first five years and for credit unions with a low soundness rating. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month. 2023-03-08T20:12:14Z https://www.congress.gov/bill/117th-congress/senate-bill/4325
117-s-4292 117 s 4292 Small Business Audit Correction Act of 2022 Finance and Financial Sector 2022-05-24 2022-05-24 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Cotton, Tom [R-AR] AR R C001095 1 Small Business Audit Correction Act of 2022 This bill exempts certain privately held, noncustody brokers and dealers in good standing from specified audit report requirements of the Public Company Accounting Oversight Board. 2022-12-29T16:48:34Z https://www.congress.gov/bill/117th-congress/senate-bill/4292
117-s-4295 117 s 4295 Financial Data Transparency Act of 2022 Finance and Financial Sector 2022-05-24 2022-05-24 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Warner, Mark R. [D-VA] VA D W000805 3 Financial Data Transparency Act of 2022 This bill requires federal financial regulatory agencies to adopt specified data standards with respect to format, searchability, and transparency. The bill also decreases, beginning September 30, 2031, the cap on the surplus funds of the Federal Reserve banks. (Amounts exceeding this cap are deposited in the general fund of the Treasury.) The Government Accountability Office must report on the feasibility of applying the taxonomy established by this bill to the wider federal government. 2022-12-29T16:48:34Z https://www.congress.gov/bill/117th-congress/senate-bill/4295
117-s-4241 117 s 4241 INDEX Act Finance and Financial Sector 2022-05-18 2022-06-14 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Sullivan, Dan [R-AK] AK R S001198 13 INvestor Democracy is EXpected Act or the INDEX Act This bill establishes guidelines for passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in proxy shareholder votes. Under the bill, these funds generally must vote shares on a proportional basis according to instructions from fund investors. The bill establishes an exemption for routine matters and matters requiring approval of a majority of outstanding securities. Additionally, the bill establishes a safe harbor from these requirements for investment advisers. 2023-09-01T13:45:21Z https://www.congress.gov/bill/117th-congress/senate-bill/4241
117-s-4165 117 s 4165 CDFI Crisis Fund Act Finance and Financial Sector 2022-05-09 2022-05-09 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Schatz, Brian [D-HI] HI D S001194 11 CDFI Crisis Fund Act This bill establishes the CDFI National Crisis Fund. The fund is authorized to make grants to community development financial institutions (CDFIs) providing financial products as emergency assistance to small businesses and low-income populations in certain circumstances. Furthermore, the fund is triggered by certain emergency declarations, including the COVID-19 emergency period; certain disaster declarations; a specified increase in a statewide unemployment rate; or a specified increase in the nationwide unemployment rate. Specified amounts in the fund are set aside for grants to Native and minority CDFIs. The Government Accountability Office must report on the impact of the fund and provide recommendations. 2023-03-08T20:12:44Z https://www.congress.gov/bill/117th-congress/senate-bill/4165
117-s-4127 117 s 4127 Holding Foreign Insiders Accountable Act Finance and Financial Sector 2022-05-03 2022-05-03 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Kennedy, John [R-LA] LA R K000393 1 Holding Foreign Insiders Accountable Act This bill expands securities disclosure requirements applicable to directors, officers, and certain stockholders to include the securities of a foreign private issuer. 2022-12-29T16:33:53Z https://www.congress.gov/bill/117th-congress/senate-bill/4127
117-s-4110 117 s 4110 Primary Regulators of Insurance Vote Act of 2022 Finance and Financial Sector 2022-04-28 2022-09-08 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Scott, Tim [R-SC] SC R S001184 1 Primary Regulators of Insurance Vote Act of 2022 This bill establishes a state insurance commissioner as a voting member of the Financial Stability Oversight Council. The member is appointed by the President with the advice and consent of the Senate. Under current law, this member is nonvoting and selected by state insurance commissioners. 2022-12-29T23:48:35Z https://www.congress.gov/bill/117th-congress/senate-bill/4110
117-s-4095 117 s 4095 Transaction and Sourcing Knowledge Act Finance and Financial Sector 2022-04-27 2022-04-27 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Scott, Rick [R-FL] FL R S001217 2 Transaction and Sourcing Knowledge Act or the TASK Act This bill requires the Securities and Exchange Commission to mandate the reporting of certain information by publicly traded companies. Specifically, companies must report on the sourcing and due diligence involving products imported into the United States utilizing forced labor from Xinjiang, China; transactions with companies on the Department of Commerce's trade restriction list or designated as Chinese military-industrial complex companies; and for U.S. companies with facilities in China, whether there is a Chinese Communist Party committee in the operations of the company, and a summary of that committee's activity. 2023-03-08T20:12:35Z https://www.congress.gov/bill/117th-congress/senate-bill/4095
117-s-4097 117 s 4097 Too Narrow to Succeed Act Finance and Financial Sector 2022-04-27 2022-04-27 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Senate Sen. Kaine, Tim [D-VA] VA D K000384 4 Too Narrow to Succeed Act This bill requires federal institutional investors to report on their use of diverse-owned asset management firms. Additionally, the Department of Labor must conduct a survey of public- and private-sector pension plans regarding best practices for increasing the utilization and capacity of diverse-owned asset management firms. 2023-03-08T20:12:14Z https://www.congress.gov/bill/117th-congress/senate-bill/4097
117-s-4051 117 s 4051 Protecting American Capital Act of 2022 Finance and Financial Sector 2022-04-07 2022-04-07 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Scott, Rick [R-FL] FL R S001217 1 Protecting American Capital Act of 2022 This bill requires the Department of the Treasury to annually report to Congress on portfolio investments made by U.S. persons in China. The report must include the U.S. persons making the investments, including state pension funds and those making more than 2% of the total annual investments; and the Chinese entities receiving the investments, including Chinese entities subject to U.S. sanctions and Chinese entities receiving more than $100 million. The initial report must include investment information back to January 1, 2008. 2022-12-29T23:48:37Z https://www.congress.gov/bill/117th-congress/senate-bill/4051
117-s-4072 117 s 4072 Empowering States' Rights To Protect Consumers Act of 2022 Finance and Financial Sector 2022-04-07 2022-04-07 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Whitehouse, Sheldon [D-RI] RI D W000802 4 Empowering States' Rights To Protect Consumers Act of 2022 This bill limits the annual percentage rate applicable to any consumer credit transaction (other than a residential mortgage transaction), including any associated fees, to the maximum rate permitted by the laws of the state in which the consumer resides. 2023-03-08T20:12:10Z https://www.congress.gov/bill/117th-congress/senate-bill/4072
117-s-4075 117 s 4075 KLEPTO Act Finance and Financial Sector 2022-04-07 2022-04-07 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Whitehouse, Sheldon [D-RI] RI D W000802 3 Kleptocrat Liability for Excessive Property Transactions and Ownership Act or the KLEPTO Act This bill expands anti-money laundering reporting requirements for certain transactions involving real estate, aircraft, and other vehicles. Specifically, real estate professionals must report to the Department of the Treasury beneficial owner information (e.g., the identity of an individual behind a corporate entity) for each commercial and residential real estate transaction involving a covered entity (i.e., a nonnatural person, association, or arrangement, including any trust, partnership, foundation, corporation, limited liability company, or other public or private entity). Real estate professionals must also report suspicious transactions, establish anti-money laundering programs and due diligence policies, and develop procedures to identify beneficial owners. Additionally, Treasury must implement a state-level pilot program to design and test a digital ledger of real estate transactions. This ledger must provide real-time information and integrate with other databases that track beneficial ownership, sanctions, and other business and real estate registries. An entity must identify each beneficial owner prior to registering an aircraft. Existing registrants must submit this information not later than 180 days after the date of this bill's enactment. A business engaged in vehicle sales (including automobile, airplane, and boat sales) must report suspicious transactions, establish anti-money laundering programs and due diligence policies, and develop procedures to identify beneficial owners. 2022-12-29T23:48:36Z https://www.congress.gov/bill/117th-congress/senate-bill/4075
117-s-4002 117 s 4002 LGBTQ Business Equal Credit Enforcement and Investment Act Finance and Financial Sector 2022-04-05 2022-04-05 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Gillibrand, Kirsten E. [D-NY] NY D G000555 1 LGBTQ Business Equal Credit Enforcement and Investment Act This bill requires financial institutions to report certain credit application data to the Consumer Financial Protection Bureau for the purposes of enforcing fair lending laws. Specifically, financial institutions must report this data regarding lesbian-, gay-, bisexual-, transgender-, or queer-owned businesses. Currently, this data is reported regarding women-owned, minority-owned, and small businesses. 2022-12-29T23:48:38Z https://www.congress.gov/bill/117th-congress/senate-bill/4002
117-s-3990 117 s 3990 Insider Trading Prohibition Act Finance and Financial Sector 2022-04-04 2022-07-28 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Reed, Jack [D-RI] RI D R000122 1 Insider Trading Prohibition Act This bill generally provides statutory authority for the prohibition against securities trading, as well as related communications to others, by a person who has access to material, nonpublic information and is aware or recklessly disregards that the information is material and nonpublic. Further, that person must either be aware or recklessly disregards that the information has been obtained wrongfully or that the trading would be wrongful. The bill also provides, for purposes of establishing a violation of this prohibition, that it is not necessary for such a person to know specifically how such information was obtained or whether a personal benefit was paid or promised. 2023-03-08T20:12:14Z https://www.congress.gov/bill/117th-congress/senate-bill/3990
117-s-3970 117 s 3970 Stablecoin Transparency Act Finance and Financial Sector 2022-03-31 2022-05-10 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Hagerty, Bill [R-TN] TN R H000601 0 Stablecoin Transparency Act This bill requires a stablecoin issuer to hold all reserves associated with each fiat currency-backed stablecoin they issue in (1) certain government securities; (2) fully collateralized security repurchase agreements, or (3) U.S. dollars or other nondigital currency. A fiat currency-backed stablecoin is a digital asset backed by a nondigital currency and is redeemable on a one-to-one basis in that currency. Each stablecoin issuer must publish monthly on their website a report on the reserves held by the issuer that has been audited by a third party. 2022-12-29T22:48:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3970
117-s-3976 117 s 3976 Expanding American Entrepreneurship Act Finance and Financial Sector 2022-03-31 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Moran, Jerry [R-KS] KS R M000934 1 Expanding American Entrepreneurship Act This bill revises qualification requirements for venture capital funds. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Currently, an investment firm qualifies as a venture capital fund if, among other requirements (1) the fund's securities are owned by 250 persons or less, and (2) the fund has $10 million or less in aggregate capital contributions and uncalled committed capital. The bill increases these amounts to 500 persons and $50 million, respectively. 2022-12-29T22:48:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3976
117-s-3977 117 s 3977 SEC Whistleblower Reform Act of 2022 Finance and Financial Sector 2022-03-31 2022-03-31 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Grassley, Chuck [R-IA] IA R G000386 4 SEC Whistleblower Reform Act of 2022 This bill expands and revises whistleblower protections applicable to individuals who provide information to the Securities and Exchange Commission (SEC) relating to a violation of securities laws. The prohibition of retaliation against whistleblowers is expanded to include individuals who provide information regarding potential violations to supervisors or other employees in positions of authority. Additionally, the bill establishes the right to a jury trial for a person accused of violating whistleblower protection laws. The bill also requires the SEC to make an initial disposition of a whistleblower award claim within the later of (1) one year of the deadline to submit such a claim, or (2) one year after the final resolution of any litigation in the matter. Finally, the bill deems as unenforceable a predispute arbitration agreement regarding a whistleblower action. 2022-12-29T22:48:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3977
117-s-3980 117 s 3980 Middle Market IPO Underwriting Cost Act Finance and Financial Sector 2022-03-31 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Lummis, Cynthia M. [R-WY] WY R L000571 4 Middle Market IPO Underwriting Cost Act This bill requires the Securities and Exchange Commission to study and report on the costs encountered by small- and medium-sized companies when undertaking initial public offerings and certain offerings exempt from securities registration requirements. 2022-12-29T22:48:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3980
117-s-3954 117 s 3954 A bill to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, and for other purposes. Finance and Financial Sector 2022-03-30 2022-03-30 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Cruz, Ted [R-TX] TX R C001098 2 This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency directly to an individual. 2022-12-29T22:48:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3954
117-s-3961 117 s 3961 Access to Small Business Investor Capital Act Finance and Financial Sector 2022-03-30 2022-09-15 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Daines, Steve [R-MT] MT R D000618 1 Access to Small Business Investor Capital Act This bill allows a registered investment company to exclude from the calculation of acquired fund fees and expenses those incurred indirectly from investment in a business development company. Instead, such fees and expenses may be disclosed in a footnote. Acquired fund fees and expenses is a required line item on a fund's fee schedule that provides the operating expenses of the fund. 2022-12-29T22:48:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3961
117-s-3965 117 s 3965 Increasing Access to Adviser Information Act Finance and Financial Sector 2022-03-30 2022-03-30 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Moran, Jerry [R-KS] KS R M000934 0 Increasing Access to Adviser Information Act This bill excludes from investment adviser regulations any research activity performed by a broker or a dealer in line with similar foreign laws and regulations. 2022-12-29T22:48:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3965
117-s-3966 117 s 3966 Facilitating Main Street Offerings Act Finance and Financial Sector 2022-03-30 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Moran, Jerry [R-KS] KS R M000934 0 Facilitating Main Street Offerings Act This bill exempts certain securities issued under Regulation A from state regulation of secondary transactions. Regulation A exempts small issues of securities from registration requirements. 2023-09-01T13:45:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3966
117-s-3967 117 s 3967 Improving Crowdfunding Opportunities Act Finance and Financial Sector 2022-03-30 2022-12-13 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. Senate Sen. Moran, Jerry [R-KS] KS R M000934 0 Improving Crowdfunding Opportunities Act This bill reduces regulations applicable to crowdfunding securities and portals. Crowdfunding is used to raise capital through a large number of individuals investing potentially small amounts of money. The bill exempts certain securities issued under crowdfunding regulations from state regulation of secondary transactions. It also exempts crowdfunding portals from certain anti-money laundering reporting and recordkeeping requirements. Finally, crowdfunding portals are exempted from liability for material misstatements or omissions unless the portal knowingly makes certain untrue statements or engages in fraud or deceit. 2023-09-01T13:45:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3967
117-s-3945 117 s 3945 Restoring Shareholder Transparency Act of 2022 Finance and Financial Sector 2022-03-29 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Hagerty, Bill [R-TN] TN R H000601 3 Restoring Shareholder Transparency Act of 2022 This bill limits corporate shareholder proposals and revises proxy voting protocols for shareholders. Current shareholder proposal rules address who is eligible to submit shareholder proposals for a vote and the dissemination of information to voters through a proxy statement. Under the bill, a company is not required to comply with these shareholder proposal rules. Instead, a company may opt-in to these rules. The bill also revises these rules to require a shareholder hold at least 1% of the market value of the company's securities in order to submit a shareholder proposal. Under current rules, a shareholder's ability to submit a proposal depends upon the dollar amount of shares held and the length of time the shares have been held. It also revises these rules to provide that a company's allowed bases for exclusion of a proposal apply without regard to whether the proposal relates to a significant social policy issue. Under current guidance, a shareholder proposal may overcome a company's exclusion if the proposal is of social policy significance. Finally, the bill generally prohibits proxy voting advice furnished by a person who provides such advice for a fee. 2023-09-01T13:45:20Z https://www.congress.gov/bill/117th-congress/senate-bill/3945
117-s-3947 117 s 3947 Intelligent Tick Study Act Finance and Financial Sector 2022-03-29 2022-03-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Kennedy, John [R-LA] LA R K000393 0 Intelligent Tick Study Act This bill authorizes the Securities and Exchange Commission (SEC) to mandate the use of larger tick sizes in the trade of the securities of emerging growth companies. Tick size is the minimum price increment of a trading instrument. Specifically, the bill authorizes the SEC to designate a tick size larger than $0.01 but not more than $0.25 for these securities. The SEC must report on the impact of potential variations in tick size for all securities. 2022-12-29T22:48:21Z https://www.congress.gov/bill/117th-congress/senate-bill/3947
117-s-3948 117 s 3948 Increasing Investor Opportunities Act Finance and Financial Sector 2022-03-29 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Daines, Steve [R-MT] MT R D000618 0 Increasing Investor Opportunities Act This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase their investments in private investment funds. 2023-03-08T20:12:08Z https://www.congress.gov/bill/117th-congress/senate-bill/3948
117-s-3934 117 s 3934 Homeowner Flood Insurance Transparency and Protection Act Finance and Financial Sector 2022-03-28 2022-03-28 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Hyde-Smith, Cindy [R-MS] MS R H001079 5 Homeowner Flood Insurance Transparency and Protection Act This bill allows National Flood Insurance Program policyholders to elect to pay premiums at the rate in effect prior to the implementation of Risk Rating 2.0. Risk Rating 2.0 bases premium rates on an individual property's specific flood risk instead of the flood risk of a general location and property type. Policyholders may elect to pay the previous rate until the Federal Emergency Management Agency performs several actions regarding Risk Rating 2.0, including publishing all data and methods used to calculate premium rates under Risk Rating 2.0, creating an online database where policyholders can see premium rates for their property using specified calculations, and publishing an assessment of the economic and social impacts of Risk Rating 2.0. 2022-12-29T22:33:28Z https://www.congress.gov/bill/117th-congress/senate-bill/3934
117-s-3939 117 s 3939 SEED Act of 2022 Finance and Financial Sector 2022-03-28 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Scott, Tim [R-SC] SC R S001184 1 Small Entrepreneurs' Empowerment and Development Act of 2022 or the SEED Act of 2022 This bill creates an exemption to securities registration requirements for a micro-offering of securities. In general, the Securities and Exchange Commission (SEC) prohibits the offering or selling of securities unless the offering is registered with the SEC or it qualifies for an exemption. The bill defines a micro-offering as an aggregate amount of securities sold by an issuer that does not exceed $500,000 in a 12-month period. This exemption does not apply to issuers who are convicted of specified financial crimes or are subject to specified disciplinary actions. 2023-03-08T20:12:35Z https://www.congress.gov/bill/117th-congress/senate-bill/3939
117-s-3914 117 s 3914 Developing and Empowering our Aspiring Leaders Act of 2022 Finance and Financial Sector 2022-03-24 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Rounds, Mike [R-SD] SD R R000605 0 Developing and Empowering our Aspiring Leaders Act of 2022 This bill directs the Securities and Exchange Commission to revise venture capital investment regulations. Venture capital funds are exempt from certain regulations applicable to other investment firms, including those related to filings, audits, and restricted communications with investors. Under current law, non-qualifying investments—which include secondary transactions and investments in other venture capital funds—may comprise up to 20% of a venture capital fund. The bill allows investments acquired through secondary transactions or investments in other venture capital funds to be considered as qualifying investments for venture capital funds. However, for a private fund to qualify as a venture capital fund, the fund's investments must predominately (1) be acquired directly, or (2) be investments in other venture capital funds. 2023-08-18T15:00:29Z https://www.congress.gov/bill/117th-congress/senate-bill/3914
117-s-3916 117 s 3916 Increasing Opportunities for Retail Investors Act Finance and Financial Sector 2022-03-24 2022-03-24 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Rounds, Mike [R-SD] SD R R000605 0 Increasing Opportunities for Retail Investors Act This bill expands the exemptions from registration requirements applicable to companies offering or selling securities. In general, the Securities and Exchange Commission (SEC) prohibits the offering or selling of securities unless the offering is registered with the SEC or it qualifies for an exemption. Specifically, the bill increases the annual offering limit applicable to the crowdfunding exemption from $1 million to $5 million. The bill also allows the SEC to increase through rulemaking the dollar threshold or limit applicable to other types of offerings, including offerings for small- and medium-sized companies. Additionally, the bill increases the offering limit applicable to small securities offerings and provides for adjustments to this limit in line with inflation. 2022-12-29T22:33:29Z https://www.congress.gov/bill/117th-congress/senate-bill/3916
117-s-3919 117 s 3919 Reporting Requirements Reduction Act of 2022 Finance and Financial Sector 2022-03-24 2022-12-13 Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. Senate Sen. Tillis, Thomas [R-NC] NC R T000476 0 Reporting Requirements Reduction Act of 2022 This bill allows an issuer of securities to file financial statements and other disclosure reports semiannually instead of quarterly. 2023-09-01T13:30:23Z https://www.congress.gov/bill/117th-congress/senate-bill/3919
117-s-3921 117 s 3921 Equal Opportunity for all Investors Act Finance and Financial Sector 2022-03-24 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Tillis, Thomas [R-NC] NC R T000476 1 Equal Opportunity for all Investors Act This bill expands who may be considered an accredited investor for purposes of participating in private offerings of securities. Certain unregistered securities may only be offered to accredited investors. Specifically, the bill allows an individual to qualify through an examination established by the Securities and Exchange Commission (SEC), a state securities commission, or certain self-regulatory organizations. The examination must measure whether an individual understands and appreciates the risks and opportunities of investing in securities, must be designed to ensure that an individual with financial sophistication or training would be unlikely to fail, and may be designed and/or administered by an approved person. Currently, accredited investors must satisfy certain requirements indicating their reduced exposure to financial risk, including those related to income, net worth, or knowledge and experience. The bill also allows purchasers to self-certify that they meet the income or net worth requirements. Further, the bill allows a person to qualify as an accredited investor by satisfying certain investment or transaction requirements. Finally, the SEC may review and adjust the definition of accredited investor, except for the net worth standards, at its discretion. Currently, the SEC must perform this review every four years. 2023-09-01T13:30:23Z https://www.congress.gov/bill/117th-congress/senate-bill/3921
117-s-3922 117 s 3922 Unlocking Capital for Small Businesses Act of 2022 Finance and Financial Sector 2022-03-24 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Cramer, Kevin [R-ND] ND R C001096 0 Unlocking Capital for Small Businesses Act of 2022 This bill revises the regulatory treatment of private-placement brokers (brokers who receive transaction-based compensation for the sale of securities to preselected individuals or institutions) and finders (private-placement brokers who do not exceed a specified amount of compensation, transaction value, or number of transactions in a year). Specifically, the bill (1) requires the Securities and Exchange Commission to establish registration requirements for private-placement brokers that are no more stringent than those imposed on crowdfunding portals, (2) allows for membership in any national securities association for private-placement brokers, (3) exempts private-placement brokers from broker regulations, and (4) otherwise modifies provisions related to private-placement brokers and finders. 2022-12-29T22:33:28Z https://www.congress.gov/bill/117th-congress/senate-bill/3922
117-s-3923 117 s 3923 Dodd-Frank Material Disclosure Improvement Act Finance and Financial Sector 2022-03-24 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Cramer, Kevin [R-ND] ND R C001096 1 Dodd-Frank Material Disclosure Improvement Act This bill eliminates disclosure requirements applicable to issuers of securities. Specifically, it eliminates requirements to disclose the ratio of an issuer's median employee pay to its Chief Executive Officer pay; the use of conflict minerals originating in the Democratic Republic of the Congo by the issuer; health and safety information of mines operated by the issuer; and payments by an oil, natural gas, or mineral extractor to a foreign government or to the federal government. 2023-09-01T13:30:23Z https://www.congress.gov/bill/117th-congress/senate-bill/3923
117-s-3926 117 s 3926 SAFE Act Finance and Financial Sector 2022-03-24 2022-03-24 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Scott, Rick [R-FL] FL R S001217 1 Secure America's Financial Exchanges Act or the SAFE Act This bill requires an issuer of securities, as a condition of listing its securities on a national exchange, to disclose (1) any financial support from China and the terms of any such support, and (2) whether any officer or director holds or previously held a position with the Chinese government or with the Chinese Communist Party. 2023-06-21T14:31:27Z https://www.congress.gov/bill/117th-congress/senate-bill/3926
117-s-3930 117 s 3930 Administrative Enforcement Fairness Act of 2022 Finance and Financial Sector 2022-03-24 2022-03-24 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Lummis, Cynthia M. [R-WY] WY R L000571 1 Administrative Enforcement Fairness Act of 2022 This bill allows an administrative proceeding brought under the Securities Exchange Act of 1934 to be removed to the appropriate federal district court. 2023-03-08T20:12:35Z https://www.congress.gov/bill/117th-congress/senate-bill/3930
117-s-3931 117 s 3931 Gig Worker Equity Compensation Act Finance and Financial Sector 2022-03-24 2022-04-05 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Lummis, Cynthia M. [R-WY] WY R L000571 1 Gig Worker Equity Compensation Act This bill expands the existing Securities and Exchange Commission registration exemption for securities that are part of an employee-compensation package. Specifically, the bill applies this exemption to securities provided to independent contractors performing work for the issuer and to customers of the issuer. The bill also requires the corresponding aggregate sales amount to be indexed for inflation annually instead of every 5 years as under current law. 2022-12-29T22:33:28Z https://www.congress.gov/bill/117th-congress/senate-bill/3931
117-s-3886 117 s 3886 Future of Water Act of 2022 Finance and Financial Sector 2022-03-21 2022-03-21 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. Senate Sen. Warren, Elizabeth [D-MA] MA D W000817 4 Future of Water Act of 2022 This bill prohibits the trading of futures contracts in water or water rights. A futures contract is an agreement to buy or sell a commodity or financial instrument at a set price at a specific time. 2022-12-29T22:33:29Z https://www.congress.gov/bill/117th-congress/senate-bill/3886
117-s-3867 117 s 3867 Digital Asset Sanctions Compliance Enhancement Act of 2022 Finance and Financial Sector 2022-03-17 2022-09-20 Committee on Banking, Housing, and Urban Affairs. Hearings held. Senate Sen. Warren, Elizabeth [D-MA] MA D W000817 12 Digital Asset Sanctions Compliance Enhancement Act of 2022 This bill allows additional sanctions against Russia and creates specified reporting requirements regarding digital assets. Specifically, the President must periodically identify foreign persons who facilitate evasion of Russian sanctions using digital assets. The bill authorizes sanctions against such persons. The bill requires a U.S. taxpayer engaged in offshore digital asset transactions greater than $10,000 to file an annual Report of Foreign Bank and Financial Accounts with the Financial Crimes Enforcement Network. The bill allows the Department of the Treasury to prohibit U.S. digital asset trading platforms and transaction facilitators from transacting with Russian digital asset addresses. Additionally, Treasury must report on its progress in implementing the bill and must annually identify foreign digital asset trading platforms that are a high risk for sanctions evasion, money laundering, and other illicit activities. 2022-12-29T22:33:30Z https://www.congress.gov/bill/117th-congress/senate-bill/3867
117-s-3876 117 s 3876 Special Measures to Fight Modern Threats Act Finance and Financial Sector 2022-03-17 2022-03-17 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Warner, Mark R. [D-VA] VA D W000805 0 Special Measures to Fight Modern Threats Act This bill expands the special measures available to the Financial Crimes Enforcement Network (FinCEN) to combat money laundering regarding a jurisdiction outside of the United States; a financial institution operating outside of the United States; a class of transaction within, or involving, a jurisdiction outside of the United States; or one or more types of accounts. Specifically, FinCEN may prohibit or impose conditions upon the opening or maintaining in the United States of a correspondent account or payable-through account by any domestic financial institution or domestic financial agency without requiring, as under current law, that such account be for or on behalf of a foreign banking institution. Further, FinCEN may prohibit or impose conditions upon certain transmittals of funds to or from any domestic financial institution or domestic financial agency if such transmittal of funds involves any such jurisdiction, institution, class of transaction, or type of account. 2022-12-29T22:33:30Z https://www.congress.gov/bill/117th-congress/senate-bill/3876
117-s-3844 117 s 3844 Economic Continuity and Stability Act Finance and Financial Sector 2022-03-15 2022-03-15 Read twice and referred to the Committee on Finance. Senate Sen. Tester, Jon [D-MT] MT D T000464 3 Economic Continuity and Stability Act This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain payments or obligations. In the event a contract referencing LIBOR does not have a fallback or replacement rate provision in effect when LIBOR is retired, or a replacement rate is not selected by a determining person as defined by the bill, the bill provides for a transition to a replacement rate selected by the Board of Governors of the Federal Reserve System. The bill also provides for conforming changes to these contracts, the continuity and enforceability of these contracts, tax treatment, and protections against liability as a result of such a transition. 2022-12-29T22:33:31Z https://www.congress.gov/bill/117th-congress/senate-bill/3844
117-s-3823 117 s 3823 Bankruptcy Threshold Adjustment and Technical Corrections Act Finance and Financial Sector 2022-03-14 2022-06-21 Became Public Law No: 117-151. Senate Sen. Grassley, Chuck [R-IA] IA R G000386 6 Bankruptcy Threshold Adjustment and Technical Corrections Act This bill modifies provisions related to small business reorganization bankruptcies and wage earner's bankruptcies. Specifically, the bill extends for two years the increase of the amount of debt allowed to be carried by debtors to qualify for small business reorganization bankruptcy and provides that this debt limit is subject to adjustment for inflation. Additionally, it provides that a small business debtor includes a debtor that is an affiliate of certain publicly traded companies. Further, it authorizes the bankruptcy trustee to operate the business of the debtor if the debtor ceases to be a debtor in possession. The bill also increases for two years the debt limit for individuals filing for bankruptcy under Chapter 13 (i.e., the wage earner's plan) and allows both secured and unsecured debt to count towards this single limit. (Currently, separate limits apply to secured and unsecured debt.) 2022-12-29T23:48:39Z https://www.congress.gov/bill/117th-congress/senate-bill/3823
117-s-3829 117 s 3829 Flood Insurance Pricing Transparency Act Finance and Financial Sector 2022-03-14 2022-03-14 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Cassidy, Bill [R-LA] LA R C001075 3 Flood Insurance Pricing Transparency Act This bill directs the Federal Emergency Management Agency (FEMA) to publish all formulas used by FEMA to calculate mitigation credits available to properties insured under the National Flood Insurance Program (NFIP). (Under current NFIP rating methodology, individuals can receive premium credits for mitigation activity on their property such as installing flood openings, elevating the structure, and elevating machinery and equipment above the lowest floor.) FEMA must also develop a publicly available tool that estimates NFIP premium rates based on user inputs, including the change in rates as a result of mitigation activities. 2022-12-29T22:33:31Z https://www.congress.gov/bill/117th-congress/senate-bill/3829
117-s-3813 117 s 3813 Veterans Member Business Loan Act Finance and Financial Sector 2022-03-10 2022-03-10 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Sullivan, Dan [R-AK] AK R S001198 1 Veterans Member Business Loan Act This bill excludes from credit union aggregate loan limitations member business loans made to veterans. 2022-12-29T22:33:31Z https://www.congress.gov/bill/117th-congress/senate-bill/3813
117-s-3779 117 s 3779 Adjustable Interest Rate (LIBOR) Act Finance and Financial Sector 2022-03-08 2022-03-08 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Tester, Jon [D-MT] MT D T000464 7 Adjustable Interest Rate (LIBOR) Act This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain payments or obligations. In the event a contract referencing LIBOR does not have a fallback or replacement rate provision in effect when LIBOR is retired, or a replacement rate is not selected by a determining person as defined by the bill, the bill provides for a transition to a replacement rate selected by the Board of Governors of the Federal Reserve System. The bill also provides for conforming changes to these contracts, the continuity and enforceability of these contracts, and protections against liability as a result of such a transition. 2022-12-29T22:33:32Z https://www.congress.gov/bill/117th-congress/senate-bill/3779
117-s-3771 117 s 3771 Stop Russian GOLD Act of 2022 Finance and Financial Sector 2022-03-07 2022-03-07 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S1018-1019) Senate Sen. Cornyn, John [R-TX] TX R C001056 11 Stop Russian Government and Oligarchs from Limiting Democracy Act of 2022 or the Stop Russian GOLD Act of 2022 This bill prohibits a U.S. person from engaging in a transaction with a foreign person who purchases, transacts in, or transports Russian gold. 2023-03-08T20:12:35Z https://www.congress.gov/bill/117th-congress/senate-bill/3771
117-s-3745 117 s 3745 TAILOR Act of 2022 Finance and Financial Sector 2022-03-03 2022-03-03 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Rounds, Mike [R-SD] SD R R000605 2 Taking Account of Institutions with Low Operation Risk Act of 2022 or the TAILOR Act of 2022 This bill addresses the supervision of financial institutions. The bill requires federal financial regulatory agencies to (1) tailor any regulatory actions so as to limit burdens on the institutions involved, with consideration of the risk profiles and business models of those institutions; and (2) report to Congress on specific actions taken to do so, as well as on other related issues. The bill's tailoring requirement applies not only to future regulatory actions but also to regulations adopted within the last seven years. The bill also reduces certain reporting requirements for banks eligible for the community bank leverage ratio. Finally, federal banking agencies must report on the modernization of bank supervision, including examiner workforce and training and statutory changes necessary to achieve more effective supervision. 2022-12-29T22:18:20Z https://www.congress.gov/bill/117th-congress/senate-bill/3745
117-s-3755 117 s 3755 Arbitration Fairness for Consumers Act Finance and Financial Sector 2022-03-03 2022-03-03 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Brown, Sherrod [D-OH] OH D B000944 23 Arbitration Fairness for Consumers Act This bill deems as invalid or unenforceable a predispute arbitration agreement or joint-action waiver related to a consumer financial product or service. 2022-12-29T22:33:33Z https://www.congress.gov/bill/117th-congress/senate-bill/3755
117-s-3733 117 s 3733 IMPAIR Russia Act Finance and Financial Sector 2022-03-02 2022-03-02 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Senate Sen. Rubio, Marco [R-FL] FL R R000595 1 Instituting Measures to Protect American Investors and Retirees from Russia Act of 2022 or the IMPAIR Russia Act This bill prohibits investment companies and other institutional investors from purchasing securities issued by a Russian entity. 2022-12-29T22:18:20Z https://www.congress.gov/bill/117th-congress/senate-bill/3733
117-s-3715 117 s 3715 E-SIGN Modernization Act of 2022 Finance and Financial Sector 2022-03-01 2022-03-01 Read twice and referred to the Committee on Commerce, Science, and Transportation. (text: CR S876-877) Senate Sen. Thune, John [R-SD] SD R T000250 3 E-SIGN Modernization Act of 2022 This bill repeals certain requirements regarding the use of electronic records in commerce. Specifically, the bill repeals the requirement that consumers must demonstrate their ability to access information electronically in order to consent to the use of electronic records. 2023-03-08T20:12:14Z https://www.congress.gov/bill/117th-congress/senate-bill/3715

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CREATE INDEX idx_leg_sponsor_bioguide ON legislation(sponsor_bioguide_id);
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