Bills
Collins Amendment
Collins Amendment The Collins Amendment/Section 171 was designed to strengthen the integrity of capital standards by imposing a generally applicable floor that would constrain destabilizing leverage for all systemic institutions, regardless of business model, so that they would have to hold at least as much capital as that generally required of smaller banks. 2014 0310 – Letter -…
Read MoreHeroes Sandbox
Heroes Sandbox Consolidated Appropriations Act 2021 Congress added cash value accumulation standards for life insurance policies to the Internal Revenue Code in an effort to keep people from calling ordinary investment arrangements life insurance policies. https://www.thinkadvisor.com/2020/12/22/cca-2021-package-includes-life-insurance-interest-rate-provision/ Representatives from the American Council of Life Insurers said that, if the Heroes Act interest rate rules took effect, the…
Read MoreBank Holding Company Act of 1956
Bank Holding Company Act of 1956 Bank Holding Company Act of 1956 govinfo.gov/content/pkg/STATUTE-70/pdf/STATUTE-70-Pg133.pdf Bank Holding Company Act – SEC. 4. – 3p FRB – Financial Holding Companies (Section 4(k) of the BHC Act) – [PDF-101p] (Page 4) A company is a nonbank financial company, and thus eligible for a determination by the Council, if it…
Read MoreCRA – Community Reinvestment Act
CRA – Community Reinvestment Act I would also be remiss if I did not say that I am appalled by Senator Gramm’s attempt to scale back CRA, and limit its impact. The bill that Senator Gramm pushed through the Senate Banking Committee would exempt more than 60% of all banks nationwide, and almost 75% in…
Read MoreFinancial Services Competitiveness Act of 1995
Financial Services Competitiveness Act of 1995 congress.gov/bill/104th-congress/house-bill/1062 govinfo.gov/app/details/BILLS-104hr1062ih/summary Full Title – To enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, and other financial service providers. Sponsors – James A. Leach (IA) Committees – Committee on Banking and Financial Services (Standing), Committee on Commerce (Standing)…
Read MoreBusiness of Insurance Regulatory Reform Act
Business of Insurance Regulatory Reform Act S.4325 – Business of Insurance Regulatory Reform Act of 2020 Sponsor: Sen. Scott, Tim [R-SC] (Introduced 07/27/2020) Committees: Senate – Banking, Housing, and Urban Affairs 2020 0727 – S. 4325 -Bill – 3p — A bill to amend the Consumer Financial Protection Act of 2010 to clarify the authority…
Read MorePrimary Regulators of Insurance Vote Act
Primary Regulators of Insurance Vote Act S.1298 – Primary Regulators of Insurance Vote Act of 2019 S.3177 – Primary Regulators of Insurance Vote Act of 2018 2021 05 – NAIC – FSOC Vote for Insurance Regulators (H.R. 3099) – 1p The NAIC supports the Primary Regulators of Insurance Vote Act (H.R. 3099), which would grant…
Read MoreCFMA – Commodity Futures Modernization Act
CFMA – Commodity Futures Modernization Act of 2000 Commodity Exchange Act en.wikipedia.org/wiki/Commodity_Futures_Modernization_Act_of_2000 The Commodity Futures Modernization Act of 2000 (CFMA) is United States federal legislation that ensured financial products known as over-the-counter (OTC) derivatives remained unregulated. It was signed into law on December 21, 2000 by President Bill Clinton. Commodity Exchange Act (ch. 545, 49 Stat. 1491, enacted June 15, 1936) is a federal act passed in 1936…
Read MoreFinancial Services Modernization – Government Hearings
Financial Services Modernization – GOV House – Financial Services Committee financialservices.house.gov/ c-span.org/organization/?2106/Financial-Services CSPAN House Commerce Subcommittee on Telecommunications and Finance House Commerce Subcommittee on Commerce, Trade and Hazardous Materials 1998 – LR – Functional Regulation of Bank Insurance Activities: The Time Has Come – 35p (noting that the American Council of Life Insurance (ACLI), the…
Read MoreDodd-Frank Act
Dodd-Frank enacted on July 21, 2010 H.R.4173 – Dodd-Frank Wall Street Reform and Consumer Protection Act – 111th Congress (2009-2010) congress.gov/bill/111th-congress/house-bill/4173/text H. Rept. 111-517 – DODD-FRANK WALL STREET REFORM AND CONSUMER PROTECTION ACT, 111th Congress (2009-2010) 2010 Conference on Financial Regulations Bill – VIDEO-CSPAN Conference Hearings – PDF’s?? llsdc.org/dodd-frank-legislative-history https://www.congress.gov/congressional-report/111th-congress/house-report/517 State insurance regulation was…
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