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United States · Bill · HR

H.R. 1375 (108th)

Financial Services Regulatory Relief Act of 2004

referredUnited States· United States Congress· EN

Introduced

20 March 2003

Last action

22 March 2004 · Introduced

Status

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sen. Capito, Shelley Moore [R-WV], Rep. Oxley, Michael G. [R-OH-4], Rep. Bachus, Spencer [R-AL-6], Rep. Ross, Mike [D-AR-4], Rep. Royce, Edward R. [R-CA-39], Rep. Ney, Robert W. [R-OH-18], Rep. LaTourette, Steven C. [R-OH-14], Rep. Hart, Melissa A. [R-PA-4], Rep. Tiberi, Patrick J. [R-OH-12], Rep. Sandlin, Max [D-TX-1], Rep. Hensarling, Jeb [R-TX-5], Rep. Cantor, Eric [R-VA-7]

Subjects

Housing

Source updated

7 April 2025

Housing

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Summary

Financial Services Regulatory Relief Act of 2003 - Amends the Revised Statutes of the United States to: (1) revise capital stock ownership requirements for directors of national banks and national bank dividends; and (2) repeal the capital requirements for new intrastate branches, including capital stock and surplus requirements. Amends the Home Owners' Loan Act to prescribe guidelines for investments by a Federal savings association to promote the public welfare, including that of low- and moderate-income communities or families through housing, services, and jobs. Permits mergers of Federal savings association with nondepository institution affiliates. Amends the Federal Home Loan Bank Act to permit certain privately insured credit unions to become Federal Home Loan Bank members. Amends the Federal Credit Union Act (FCUA) to: (1) authorize a credit union to make investment securities for its own account; (2) increase the 12-year loan limitation to 15 years; (3) increase the investment limit in credit union service organizations; (4) exempt loans to nonprofit religious organizations from the restrictions relating to credit union net worth or capitalization standards; and (5) exempt multiple common-bond credit union mergers and conversions from numerical limitations. Amends the FDIA to permit interstate bank mergers between insured banks with different home States. Amends the National Bank Consolidation and Merger Act to permit the merger of a national bank which is a trust company with any trust company with a different home State under the same terms and conditions as though they were located in the same State. Amends the National Bank Receivership Act and the FDIA to permit a bank placed in receivership to bring an action for a Federal court order requiring removal of the receiver. Amends the FRA and the Bank Holding Company Act Amendments of 1970 to repeal specified insider lending reporting requirements. Amends the Depository Institution Management Interlocks Act to quintuple the size of the assets of a small depository institution exempt from the prohibition against depository institution management interlocks in the same metropolitan statistical area. Amends the Bank Holding Company Act of 1956 to exempt from the proscription against cross marketing of commercial activities those depository institutions that are controlled by a twenty-five percent (or less) holding-company-shareholder.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 20 March 2003

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 20 March 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 20 March 2003

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 27 March 2003

    Committee

    Subcommittee Hearings Held.

    Source: Committee

  5. 27 March 2003

    Referred

    Referred to the Subcommittee on Financial Institutions and Consumer Credit.

    Source: Committee

  6. 9 April 2003

    Committee

    Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.

    Source: Committee

  7. 9 April 2003

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

  8. 21 May 2003

    Reported

    Ordered to be Reported (Amended) by Voice Vote.

    Source: Committee

  9. 21 May 2003

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  10. 12 June 2003

    Introduced

    Referred sequentially to the House Committee on the Judiciary for a period ending not later than July 14, 2003 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of that committee pursuant to clause 1(k), rule X.

    Source: IntroReferral

  11. 12 June 2003

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 108-152, Part I.

    Source: Committee

  12. 12 June 2003

    Reported

    Reported (Amended) by the Committee on Financial Services. H. Rept. 108-152, Part I.

    Source: Committee

  13. 25 June 2003

    Referred

    Referred to the Subcommittee on Commercial and Administrative Law.

    Source: Committee

  14. 3 July 2003

    Committee

    Subcommittee on Commercial and Administrative Law Discharged.

    Source: Committee

  15. 9 July 2003

    Reported

    Ordered to be Reported (Amended) by Voice Vote.

    Source: Committee

  16. 9 July 2003

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

  17. 14 July 2003

    Calendars

    Placed on the Union Calendar, Calendar No. 113.

    Source: Calendars

  18. 14 July 2003

    Reported

    Reported (Amended) by the Committee on Judiciary. H. Rept. 108-152, Part II.

    Source: Committee

  19. 14 July 2003

    Reported

    Reported (Amended) by the Committee on Judiciary. H. Rept. 108-152, Part II.

    Source: Committee

  20. 16 March 2004

    Committee

    Supplemental report filed by the Committee on Financial Services, H. Rept. 108-152, Part III.

    Source: Committee

  21. 16 March 2004

    Committee

    Supplemental report filed by the Committee on Financial Services, H. Rept. 108-152, Part III.

    Source: Committee

  22. 17 March 2004

    Reported

    Rules Committee Resolution H. Res. 566 Reported to House. Rule provides for consideration of H.R. 1375 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order.

    Source: Floor

  23. 18 March 2004

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  24. 18 March 2004

    Vote

    On passage Passed by the Yeas and Nays: 392 - 25 (Roll no. 69).

    Source: Floor

  25. 18 March 2004

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 392 - 25 (Roll no. 69).

    Source: Floor

  26. 18 March 2004

    Floor

    The House rose from the Committee of the Whole House on the state of the Union to report H.R. 1375.

    Source: Floor

  27. 18 March 2004

    Floor

    Rule provides for consideration of H.R. 1375 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order.

    Source: Floor

  28. 18 March 2004

    Floor

    The Speaker designated the Honorable Ray LaHood to act as Chairman of the Committee.

    Source: Floor

  29. 18 March 2004

    Floor

    House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 566 and Rule XVIII.

    Source: Floor

  30. 18 March 2004

    Reported

    Considered under the provisions of rule H. Res. 566. (consideration: CR H1234-1241, H1274; text of measure as reported in House: CR H1251-1262)

    Source: Floor

  31. 18 March 2004

    Passed

    Rule H. Res. 566 passed House.

    Source: Floor

  32. 22 March 2004

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

12 official files

Referred in Senate (text)

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  • Referred in Senate (text)

    Referred in Senate · EN · 22 March 2004

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  • Referred in Senate (PDF)

    Referred in Senate · EN · 22 March 2004

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  • Engrossed in House (text)

    Engrossed in House · EN · 18 March 2004

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 18 March 2004

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  • Passed House amended

    summary · EN · 18 March 2004

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  • Reported in House (text)

    Reported in House · EN · 14 July 2003

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  • Reported in House (PDF)

    Reported in House · EN · 14 July 2003

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  • Reported to House amended, Part II

    summary · EN · 14 July 2003

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  • Reported to House amended, Part I

    summary · EN · 12 June 2003

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  • Introduced in House (text)

    Introduced in House · EN · 20 March 2003

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  • Introduced in House (PDF)

    Introduced in House · EN · 20 March 2003

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  • Introduced in House

    summary · EN · 20 March 2003

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