Records
Bill· HRH.R. 68 (119th)referred
United States · United States Congress · 3 January 2025
Veterans, Women, Families with Children, Race, and Persons with Disabilities Housing Fairness Act of 2025 or the Housing Fairness Act of 2025 This bill expands efforts to detect and address housing discrimination. Specifically, the Department of Housing and Urban Development (HUD) must conduct a nationwide testing program to (1) detect and document differences in the treatment of prospective renters, homebuyers, or mortgage borrowers; (2) measure patterns of adverse treatment because of the race, color, religion, sex, familial status, disability status, or national origin of a renter, homebuyer, or borrower; and (3) measure the prevalence of such discriminatory practices across housing and mortgage lending markets. The bill also reauthorizes through FY2028 the Fair Housing Initiatives Program, which supports organizations that provide direct assistance to individuals who have been victims of housing discrimination. Additionally, HUD must implement a grant program to assist public and private nonprofit organizations in (1) conducting comprehensive studies on the causes or effects of housing discrimination and segregation, and (2) implementing pilot projects that test solutions to help prevent or alleviate housing discrimination and segregation.
Bill· HRH.R. 166 (119th)referred
United States · United States Congress · 3 January 2025
Fair Lending for All Act This bill adds classes of individuals protected under the Equal Credit Opportunity Act. With respect to credit transactions, the bill adds sexual orientation, gender identity, and an applicant's location based on zip code or census tract as classes protected against discrimination. (Currently, discrimination is prohibited on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives public assistance.) The bill establishes criminal penalties for violations of prohibited credit discrimination. The Consumer Financial Protection Bureau is required to review loan applications for compliance with specified consumer laws and to establish an Office of Fair Lending Testing.
Bill· HRH.R. 50 (119th)referred
United States · United States Congress · 3 January 2025
Keeping Aid for Municipalities And Localities Accountable Act or the KAMALA Act This bill prohibits the use of Community Development Block Grant (CDBG) funding to assist non-U.S. nationals ( aliens under federal law) who are not lawfully admitted permanent residents. The CDBG program is administered by the Department of Housing and Urban Development (HUD) and provides states, local governments, and Indian tribes with funds for economic and community development. The bill also specifically prohibits HUD from making a CDBG grant to any state, local government, or Indian tribe that carries out a housing or community development program that assists such individuals.
Bill· HRH.R. 147 (119th)referred
United States · United States Congress · 3 January 2025
FinCEN Oversight and Accountability Act of 2025 This bill requires the Department of the Treasury to keep specified congressional committees informed of the activity of the Financial Crimes Enforcement Network (FinCEN), particularly regarding unlawful activity and any resulting corrective action. Further, Treasury must disclose to Congress and to the public (with some exclusions) all controlling documents delegating authority to or providing direction to FinCEN. Such disclosure includes any controlling documents in force upon enactment, any controlling documents issued thereafter, and any changes to controlling documents. The bill extends for an additional five years the time period during which Treasury must testify before Congress regarding FinCEN’s anti-money laundering programs. FinCEN must also hold an annual small business working group to provide guidance on beneficial ownership reporting obligations.
Bill· HRH.R. 146 (119th)referred
United States · United States Congress · 3 January 2025
Prohibition on IOER Act of 2025 This bill prohibits a Federal Reserve bank from paying interest to a depository institution on reserve balances in excess of minimum requirements.
Bill· HRH.R. 115 (119th)referred
United States · United States Congress · 3 January 2025
No Free Rent for Freeloaders Act of 2025 This bill directs the Department of Housing and Urban Development (HUD), on an annual basis, to monitor the extent of noncompliance of public-housing tenants with certain community service and economic self-sufficiency requirements, determine the aggregate amount provided in federal subsidies for all public-housing dwelling units that were occupied by noncompliant tenants, and publish this amount in the Federal Register. In each fiscal year, the amount as determined and published for the preceding fiscal year must be rescinded from funds made available for HUD's Management and Administration account.
Bill· HRH.R. 76 (119th)referred
United States · United States Congress · 3 January 2025
Fund and Complete the Border Wall Act This bill establishes funding for a U.S.-Mexico border barrier and revises how border patrol agents are compensated for overtime. The Department of the Treasury shall set up an account for funding the design, construction, and maintenance of the barrier. The funds in the account are appropriated only for that purpose and for vehicles and equipment for border patrol agents. For each fiscal year, financial assistance to a country shall be reduced by $2,000 for each citizen or national of that country apprehended for illegally entering the United States through its southern border. The reduced amount shall be transferred to the border barrier account. The Department of State may opt not to reduce amounts appropriated to Mexico for various military and law enforcement-related activities. This bill establishes a 5% fee on foreign remittance transfers and increases the fee for the arrival/departure I-94 form for various aliens entering the United States, with part of the fees going to the border barrier account. By December 31, 2025, the Department of Homeland Security shall (1) take all actions necessary, including constructing barriers, to prevent illegal crossings along the U.S.-Mexico barrier; and (2) achieve operational control over all U.S. international borders. The bill changes how border patrol agents receive overtime pay when working up to 100 hours in a two-week period. For hours worked above 80, an agent shall receive at least 150% of the agent's regular hourly rate.
Bill· HRH.R. 150 (119th)referred
United States · United States Congress · 3 January 2025
People-Centered Assistance Reform Effort Act or the People CARE Act This bill establishes the People-Centered Assistance Reform Effort Commission within the legislative branch to review federal means-tested programs for potential reform. Under the bill, means-tested programs are those designed to provide assistance to low-income individuals, including, for example, Medicaid, the Supplemental Nutrition Assistance Program (SNAP), and the Temporary Assistance for Needy Families (TANF) program. The commission is generally directed to review all federal means-tested programs with the exception of certain specified programs, including Social Security, Medicare, and certain veterans’ benefits programs. The commission is directed to identify and evaluate potential changes to federal means-tested programs, such as consolidation with other programs, delegation of certain functions to states, and the establishment of gradual benefit reductions tied to increases in beneficiaries’ income. The commission is also directed to consider changes that would allow caseworkers to identify all of the appropriate programs for individuals and families. The commission must establish a website through which members of the public may submit suggested reforms for consideration. The commission is to be comprised of eight members, with an equal number of members appointed by the majority and minority parties. At the conclusion of its term, the commission must report to Congress with its findings and proposed legislation implementing any recommended changes. Congress must consider the legislation under expedited procedures.
Bill· HRH.R. 185 (119th)referred
United States · United States Congress · 3 January 2025
Responsible Legislating Act This bill establishes or modifies various federal programs and requirements, including those related to retirement accounts, penalties for certain sex offenses, foreign investment and ownership, and appropriations. The bill makes changes to retirement account contributions and distributions, including increasing the maximum amount that may be contributed to a Roth Individual Retirement Account (IRA) to include certain contributions to a Savings Incentive Match Plan for Employees (SIMPLE IRA) or Simplified Employee Pension (SEP) plan, subject to limitations. The bill establishes an enhanced penalty—an additional prison term of up to five years—for certain interstate human trafficking offenses or coercion of sexual activity that occurs in a school zone or related area. The Department of Commerce must report on efforts to increase foreign direct investment in semiconductor-related manufacturing and production. The Federal Maritime Commission must evaluate the effect of foreign ownership of marine terminals at the 15 largest U.S. container ports on U.S. economic security. The bill provides additional appropriations for the Departments of Health and Human Services, Agriculture, State, Defense, Homeland Security, and Energy. The bill extends mandatory livestock market reporting requirements through FY2025. The bill revises the required frequency of meetings held by a credit union's board of directors by decreasing the frequency for existing credit unions with satisfactory soundness ratings. The National Aeronautics and Space Administration's (NASA's) enhanced-use leasing authority is reauthorized through 2033. The bill requires hearings on the bill's implementation within one year of the date of enactment.
Bill· HRH.R. 145 (119th)referred
United States · United States Congress · 3 January 2025
Risk Disclosure and Investor Attestation 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 by certifying to the issuer of securities that the individual understands the risks of investment in private issuers. 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.
Bill· HRH.R. 52 (119th)referred
United States · United States Congress · 3 January 2025
Stop Woke Investing Act This bill requires the Securities and Exchange Commission (SEC) to amend regulations to limit the inclusion of shareholder proposals in proxy statements. A proxy statement is provided to shareholders prior to a public company holding a shareholder meeting and contains information relevant to a shareholder vote. Under current SEC rules, certain qualifying shareholder proposals must be included on a company's proxy statement, including proposals that raise significant social policy issues. Under the bill, a shareholder proposal must have a material effect on the financial performance of the company to be included in a proxy statement. The bill also establishes a cap on the number of shareholder proposals required to be included in a shareholder meeting, depending on the size and type of the company. In addition, a proposal submitted by a member of the board of directors is prohibited from inclusion as a shareholder proposal.
Bill· HRH.R. 191 (119th)referred
United States · United States Congress · 3 January 2025
Inflation Reduction Act of 2025 This bill repeals the Inflation Reduction Act of 2022 and rescinds any unobligated funds made available by the act.
Bill· HRH.R. 148 (119th)referred
United States · United States Congress · 3 January 2025
Keep Your Coins Act of 2025 This bill prohibits federal agencies from restricting a person's use of convertible virtual currency for their own purposes or to conduct transactions through a self-hosted wallet.
Bill· HRH.R. 153 (119th)referred
United States · United States Congress · 3 January 2025
Post-Disaster Assistance Online Accountability Act This bill establishes a centralized location to publish information on disaster assistance provided by federal agencies. The Small Business Administration, the Department of Housing and Urban Development, and any agencies providing disaster assistance must make available to the public on a quarterly basis information regarding (1) the total amount of assistance provided by the agency; (2) the amount provided that was expended or obligated; and (3) all projects or activities for which assistance was expended, obligated, or used.
Bill· HRH.R. 206 (119th)referred
United States · United States Congress · 3 January 2025
Landlord Accountability Act of 2025 This bill prohibits housing discrimination based on income, provides protections to tenants of certain federally assisted housing, and establishes a low-income housing maintenance tax credit for eligible landlords. Specifically, the bill prohibits discrimination in rental housing and residential real estate transactions based on an individual's source of income and provides for penalties. Protected income sources include housing vouchers and rental assistance, rental and homeownership subsidies, Social Security and disability income assistance, and spousal and child support. Additionally, landlords are prohibited from taking or failing to take certain actions with the intent to make a unit ineligible to receive Department of Housing and Urban Development (HUD) assistance. Landlords that violate this prohibition are subject to penalties and may be sued by harmed tenants. The bill further prohibits property owners of certain multifamily housing projects from intentionally leaving a unit vacant for more than 60 days. Property owners that violate this prohibition are subject to penalties. The bill also provides protections to tenants of multifamily housing projects, which includes requiring HUD to increase the staffing level for the Multifamily Housing Complaint Line and create a Multifamily Housing Complaint Resolution Program. In addition, HUD may provide grants to develop, expand, and assist tenant harassment prevention programs. Finally, the bill establishes a tax credit for qualifying landlords that is equal to the landlord's annual low-income housing maintenance expenses. To qualify, a landlord must have addressed within 30 days any relevant complaints filed under the complaint resolution program.
Bill· HRH.R. 53 (119th)referred
United States · United States Congress · 3 January 2025
Responsible Borrower Protection Act of 2025 This bill prohibits the Federal Housing Finance Agency, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac) from implementing changes to the single-family home loan pricing framework for upfront fees on certain home loans, announced in January 2023. The changes revise the fee charts that provide percentage adjustments based on a borrower's credit score and other risk factors. Overall, these changes increase the percentage adjustments, with variations based on the particular risk profile of the loan.
Bill· HRH.R. 75 (119th)referred
United States · United States Congress · 3 January 2025
Helping Owners with Unaffordable Shoddy Edicts Act of 2025 or the HOUSE Act of 2025 This bill directs the Department of Housing and Urban Development (HUD) and the Department of Agriculture (USDA) to withdraw the final determination titled Adoption of Energy Efficiency Standards for New Construction of HUD- and USDA-Financed Housing and published on April 26, 2024. The determination adopted updated minimum energy efficiency standards for newly built homes (except manufactured housing) financed through certain HUD and USDA programs. Specifically, it adopted the (1) 2021 International Energy Conservation Code (IECC), which applies to single family homes and multifamily low-rise buildings up to three stories; and (2) 2019 American National Standards Institute/American Society of Heating, Refrigerating, and Air-Conditioning Engineers/Illuminating Electrical Society (ANSI/ASHRAE/IES) Standard 90.1, which applies to multifamily residential buildings with four or more stories. HUD and USDA must also revert to using the energy efficiency standards required before the determination. In addition, the bill prohibits HUD, USDA, and the Department of Veterans Affairs from taking actions or using federal funds to implement or enforce the determination or any substantially similar determination. It also prohibits the Federal Housing Finance Agency from finalizing, implementing, or enforcing a determination or rule relating to energy efficiency standards for single and multifamily housing. Finally, the bill prohibits HUD and USDA from adopting updates to the IECC or ANSI/ASHRAE/IES Standard 90.1 in certain circumstances unless at least 26 states have adopted codes or standards that meet or exceed the update's requirements.
Law· HRH.R. 224 (119th)enacted
United States · United States Congress · 7 January 2025
Disabled Veterans Housing Support Act This bill excludes compensation received for a military service-connected disability from a veteran's income when determining eligibility for assistance under the Community Development Block Grant (CDBG) program. The CDBG program provides grants to urban communities for development activities focused on revitalizing neighborhoods, economic development, and providing improved community facilities and services. Additionally, the Government Accountability Office must report on how service-connected disability compensation is treated when determining eligibility for all programs administered by the Department of Housing and Urban Development. This includes identifying instances where the treatment of such compensation is inconsistent with the requirement under this bill.
Bill· HRH.R. 216 (119th)referred
United States · United States Congress · 7 January 2025
Securities Enforcement Clarity Act of 2025 or the SEC Act of 2025 This bill specifies when separate occurrences of securities law violations must be considered as a single violation for purposes of calculating penalties. Specifically, separate occurrences must be counted as a single violation when the acts in question are the result of (1) a common or a substantially overlapping cause, (2) the same misstatement or omission, or (3) a continuing failure to comply. The bill applies to various violations of securities law, including those involving the registration, offer, and sale of securities; and the conduct of brokers, dealers, and investment advisers.
Bill· HRH.R. 225 (119th)referred
United States · United States Congress · 7 January 2025
HUD Transparency Act of 2025 This bill requires the Office of Inspector General of the Department of Housing and Urban Development (HUD) to annually testify before Congress. Specifically, the office must testify regarding efforts to detect and prevent fraud, waste, and abuse; ability to conduct and supervise audits, investigations, and reviews; actions to identify opportunities for HUD programs to progress and succeed; recommendations to improve overall efficiency and public accountability; the extent to which HUD has resources sufficient to carry out its statutory mission; and ongoing activities regarding any such additional work.
Bill· HRH.R. 306 (119th)referred
United States · United States Congress · 9 January 2025
Ending Scam Credit Repair Act or the ESCRA Act This bill revises the Credit Repair Organizations Act and creates additional requirements for credit repair organizations (CROs). Under current law, it is illegal for a person (including a CRO) to make false or misleading statements regarding a consumer’s creditworthiness or standing to a consumer reporting agency or to a consumer credit provider. The bill additionally prohibits making such statements to the Consumer Financial Protection Bureau, the Federal Trade Commission, or law enforcement. To be subject to this prohibition, the bill also requires such statements to be made knowingly. The bill also revises CRO obligations to consumers. A CRO is prohibited from charging a consumer for a service (e.g., getting inaccurate information removed from a credit report) until the CRO provides proof of success not less than six months after providing the service. The bill also requires additional disclosures to consumers, requires the retention of any recorded telephone calls, and increases the time records must be retained from two to five years. In addition, consumers must be given copies of all communications sent on their behalf. Under the bill, all persons must be licensed by a state to act as a CRO. The bill also restricts a CRO’s ability to submit multiple credit disputes regarding the same information. The bill also sets a minimum liability amount for damages of $500 for each violation of the Credit Repair Organizations Act.
Bill· HRH.R. 257 (119th)referred
United States · United States Congress · 9 January 2025
Stop Environmental Calculations Act of 2025 or the SEC Act of 2025 This bill prohibits the Securities and Exchange Commission from requiring issuers of securities to make climate-related disclosures that are not material to investors.
Bill· HRH.R. 258 (119th)referred
United States · United States Congress · 9 January 2025
This bill prohibits the Federal Housing Finance Agency, the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac) from implementing changes to the single-family home loan pricing framework for upfront fees on certain home loans, announced in January 2023. The changes revise the fee charts that provide percentage adjustments based on a borrower's credit score and other risk factors. Overall, these changes increase the percentage adjustments, with variations based on the particular risk profile of the loan.
Bill· HRH.R. 269 (119th)referred
United States · United States Congress · 9 January 2025
Secretary General Jens Stoltenberg Congressional Gold Medal Act This bill provides for the award of a Congressional Gold Medal to Jens Stoltenberg in recognition of his contributions to the security, unity, and defense of the North Atlantic Treaty Organization.
Bill· HRH.R. 348 (119th)referred
United States · United States Congress · 13 January 2025
Stop Corrupt Iranian Oligarchs and Entities Act This bill directs the Department of the Treasury to report to Congress on certain individuals and entities in Iran that have close relationships with the Iranian government. The report must include specified information, including (1) identifying senior foreign political figures and oligarchs in Iran, their known sources of income, and their non-Iranian business affiliations; (2) assessing the emergence of parastatal entities and their leadership structure; and (3) the potential effects of imposing sanctions or debt and equity restrictions on such oligarchs, parastatal entities, or Iranian state-owned enterprises. For the purposes of this bill, an Iranian parastatal entity is one in which Iranian state ownership is at least 25% and that had revenues of at least $2 billion in 2016.
Bill· HRH.R. 372 (119th)referred
United States · United States Congress · 13 January 2025
Drug Testing for Welfare Recipients Act This bill requires states participating in the Temporary Assistance for Needy Families program, the Supplemental Nutrition Assistance Program, and specified public housing programs to subject applicants to substance abuse testing or screening and to deny benefits for individuals who test positive for a controlled substance. Specifically, states administering these programs must determine whether an adult applicant for benefits has been arrested for a drug-related offense within the past five years. Applicants who have been arrested for such an offense must be tested for at least one controlled substance and must test negative to receive benefits. Applicants who have not been arrested for such an offense must be screened (via an interview, questionnaire, or other instrument) for risk of substance abuse. Applicants determined to be at high risk for substance abuse must be tested for at least one controlled substance and must test negative to receive benefits. Applicants who are determined not to be at high risk do not have to undergo testing. Applicants who test positive for a controlled substance at any point during this process are ineligible for benefits for one year, until they complete a treatment program, or until they test negative for the substance, whichever is later. Family members and households of individuals disqualified from receiving benefits under these provisions may generally continue to receive support. States that fail to enforce these provisions are subject to reduced federal funding for these programs the following fiscal year.
Bill· HRH.R. 386 (119th)referred
United States · United States Congress · 14 January 2025
Chinese Currency Accountability Act of 2025 This bill requires the United States to oppose, absent specified conditions, any increase in the weight of Chinese currency (i.e., the renminbi) in the basket of currencies (currently, a set of five currencies, each with different weightings) used to determine the value of Special Drawing Rights. Special Drawing Rights are international reserve assets created by the International Monetary Fund (IMF) to supplement member countries' official foreign exchange reserves. Specifically, the Department of the Treasury must instruct certain U.S. officials at the IMF to oppose any such increase unless Treasury has certified that China is in compliance with certain standards and international agreements, including that (1) China is in compliance with all general obligations of members of the IMF, (2) China has not been found to have manipulated its currency in the preceding 12 months, and (3) China adheres to the rules and principles of the Paris Club and the Organisation for Economic Co-operation and Development (OECD) Arrangement on Officially Supported Export Credits.
Bill· HRH.R. 445 (119th)referred
United States · United States Congress · 15 January 2025
Border Security Investment Act This bill imposes a fee on the electronic transfer of funds (i.e., remittances) sent to certain countries and provides funding for border security activities from the collected amounts. Specifically, the fee shall apply to remittances sent through money services business to one of the five countries that had the most citizens or nationals unlawfully enter the United States in the previous fiscal year, as determined by U.S. Customs and Border Protection. The fee must be 37% of the amount sent. Half of the money collected by the fee must be placed in a trust fund for reimbursing border states for expenses incurred for border security enforcement measures. The other half must be placed in another trust fund for (1) deploying technology and installing physical barriers along the U.S.-Mexico border, and (2) paying the wages and salaries of U.S. Border Patrol agents. If the amount in the trust funds exceeds a certain threshold, the excess money must be used only for deficit reduction.
Law· HRH.R. 452 (119th)enacted
United States · United States Congress · 15 January 2025
Miracle on Ice Congressional Gold Medal Act This bill provides for the award of Congressional Gold Medals to the members of the 1980 U.S. Olympic men's ice hockey team in recognition of the team's achievement at the 1980 Winter Olympic Games.
Bill· HRH.R. 425 (119th)open
United States · United States Congress · 15 January 2025
Repealing Big Brother Overreach Act This bill repeals the Corporate Transparency Act. The act requires existing companies and newly created companies to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network for purposes of addressing the financing of terrorism and money laundering.
Bill· HRH.R. 462 (119th)referred
United States · United States Congress · 15 January 2025
No Support for Terror Act This bill establishes measures to prevent the allocation or use of certain funds to support genocide or terrorism. Specifically, the bill requires the Department of the Treasury to instruct the U.S. Executive Director at the International Monetary Fund (IMF) to oppose the allocation of Special Drawing Rights to any country that is a perpetrator of genocide or a state sponsor of terrorism and to advocate that the IMF adopt a rule prohibiting such an allocation. (Special Drawing Rights are international reserve assets created by the IMF to supplement member countries' official foreign exchange reserves.) Further, the bill requires Treasury, the Department of State, and the U.S. Agency for International Development to jointly review and report on assistance provided to nongovernmental organizations and international organization to ensure such assistance is not being provided to the Taliban or other terrorist organizations. Each prime awardee of this assistance must provide evidence that all subawardees are complying with U.S. anti-terrorism financing laws.
Bill· HRH.R. 429 (119th)referred
United States · United States Congress · 15 January 2025
Rosie the Riveter Commemorative Coin Act This bill directs the Department of the Treasury to mint and issue coins in recognition and celebration of the women who contributed to the U.S. home front during World War II. All sales of coins issued under this bill must include a surcharge to be paid to the Rosie the Riveter Trust to support the National Park Service in maintaining and repairing the Rosie the Riveter WWII Home Front National Historical Park.
Bill· HRH.R. 486 (119th)referred
United States · United States Congress · 16 January 2025
Young Americans Financial Literacy Act This bill requires the Consumer Financial Protection Bureau to award competitive grants to eligible institutions for the establishment of financial literacy education programs for young people and families. An eligible institution is a partnership among two or more of the following: an institution of higher education; a state or local government agency specializing in financial education; a nonprofit agency, organization, or association; a financial institution; or another small organization. Authorized grant funded activities shall include developing and implementing comprehensive, research based, financial-literacy education programs for young people; developing and supporting the delivery of professional development programs in financial literacy education; developing educational programs to reduce student loan default rates; and conducting ongoing research and evaluation of financial literacy education programs. The grant program shall terminate after FY2029.
Bill· HRH.R. 507 (119th)referred
United States · United States Congress · 16 January 2025
Veterans Member Business Loan Act This bill excludes from credit union aggregate loan limitations member business loans made to veterans.
Bill· HRH.R. 537 (119th)passed
United States · United States Congress · 16 January 2025
Bill· HRH.R. 485 (119th)referred
United States · United States Congress · 16 January 2025
Muhammad Ali Congressional Gold Medal Act This bill provides for the posthumous award of a Congressional Gold Medal to Muhammad Ali. There is authorized to be charged against the U.S. Mint Public Enterprise Fund such amounts as may be necessary to pay for the costs of the medals struck under this bill. Sums received from the sale of duplicate bronze medals authorized by this bill shall be deposited into that fund.
Bill· HRH.R. 533 (119th)referred
United States · United States Congress · 16 January 2025
Bank Privacy Reform Act This bill eliminates provisions that require financial institutions to report certain financial information to specified government agencies. Currently, financial institutions are required to report certain financial transactions (e.g., transfers of over $10,000) for the purpose of detecting illicit activity, such as money laundering or the financing of terrorism. Under the bill, such records are only obtainable through a search warrant. The bill also eliminates reporting requirements related to the beneficial ownership of certain corporate entities.
Bill· HRH.R. 478 (119th)open
United States · United States Congress · 16 January 2025
Promoting New Bank Formation Act This bill eliminates and reduces certain requirements applicable to new depository institutions, certain rural community depository institutions, and federal savings associations. Federal banking agencies must issue rules allowing a new depository institution or depository institution holding company three years to meet capital requirements. During this period, a depository institution or its depository institution holding company may request to deviate from an approved business plan, and the appropriate agency has 30 days to approve or deny the request. In addition, the community bank leverage ratio—a way of evaluating debt levels—is reduced for new rural community depository institutions. Specifically, new rural community depository institutions must have a ratio of 8%, with a three-year phase-in of the rate. After this period, the ratio rises to its current level of 9%. Finally, the bill removes certain restrictions to allow federal savings associations to invest in, sell, or otherwise deal in agricultural loans.
Bill· HRH.R. 550 (119th)referred
United States · United States Congress · 16 January 2025
Wildfire Insurance Coverage Study Act of 2025 This bill requires reports regarding wildfire risk and damage. Specifically, the Government Accountability Office (GAO) must report on trends in wildfire declarations, mitigation practices, state and federal programs regarding wildfire risk, and the need for a national map of wildfire risks. The GAO must also report on (1) the availability and cost of wildfire insurance coverage for homes and commercial property, (2) state regulatory responses to increasing costs of coverage, and (3) impediments to private wildfire insurance coverage.
Bill· HRH.R. 577 (119th)referred
United States · United States Congress · 21 January 2025