International Financial Security Act of 1989

Summary

International Financial Security Act of 1989 - Amends the Export Administration Act to state congressional findings that loans and other transfers of capital to the Soviet Union and its allies increase the ability of those countries to obtain sensitive goods and technology and to more easily divert funds to purposes inimical to U.S. interests. Declares that it is U.S. policy to use export controls to: (1) restrict the export of capital, the extension of credit, or the transfer of financial resources to destinations or persons abroad in order to promote the national security, including antiterrorism, the foreign policy interests of the United States, the advancement of emigration of Soviet Jews and other ethnic minorities, and human rights policies of the Soviet Union and other East Bloc countries; and (2) restrict the export of goods and technology where such export will likely support terrorism against U.S. citizens or benefit terrorists or countries supporting international terrorism. Authorizes the President to restrict the export or transfer of: (1) goods and technology if such export will likely support terrorism against U.S. citizens or benefit terrorists or countries supporting international terrorism; and (2) money or other financial assets to the governments of Warsaw Pact countries or countries supporting international terrorism. Provides for negotiations with other countries to obtain their cooperation with such export controls on capital, goods, and technology. Requires export license applications for the export of capital to be submitted to the Secretary of the Treasury, who shall make all determinations with respect to such application. Requires the annual report on the administration of the Export Administration Act of 1979 to include a report on actions taken to carry out export controls on capital. Amends the Federal Deposit Insurance Act to require that any notice of a change in control of an insured bank include the nationality of the person or persons making the acquisition. Sets forth criminal penalties for violation of any change in control requirement. Requires Federal banking agencies to disapprove any proposed acquisition which would result in the ownership or control of an insured bank by a Warsaw Pact country or a national agency or instrumentality of any such country. Requires federally-insured banks to include in reports of condition and reports to shareholders, and make available to the public, information concerning the number and amount of each untied loan made to any Warsaw Pact country.

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

Timeline

1. 16 March 1989

   Introduced

   Referred to the House Committee on Banking, Finance + Urban Affrs.

   Source: IntroReferral

2. 16 March 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 16 March 1989

   Introduced

   Introduced in House

   Source: IntroReferral

4. 27 March 1989

   Referred

   Referred to the Subcommittee on International Economic Policy and Trade.

   Source: Committee

5. 1 April 1989

   Referred

   Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

Votes

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Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 16 March 1989

  Open at official source

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Sponsors

• Rep. Parris, Stanford E. (Stan) [R-VA-8] · R · Sponsor
• Rep. Dornan, Robert K. [R-CA-46] · R · Cosponsor
• Rep. Burton, Dan [R-IN-5] · R · Cosponsor
• Rep. Hansen, James V. [R-UT-1] · R · Cosponsor
• Rep. Lightfoot, Jim [R-IA-3] · R · Cosponsor
• Rep. Campbell, Tom [R-CA-15] · R · Cosponsor
• Rep. Stump, Bob [R-AZ-3] · R · Cosponsor
• Rep. Ridge, Thomas J. [R-PA-21] · R · Cosponsor
• Rep. Henry, Paul B. [R-MI-5] · R · Cosponsor
• Sen. Craig, Larry E. [R-ID] · R · Cosponsor
• Rep. Buechner, Jack [R-MO-2] · R · Cosponsor
• Rep. Lukens, Donald E. [R-OH-8] · R · Cosponsor
• Sen. Kyl, Jon [R-AZ] · R · Cosponsor
• Rep. Lowery, Bill [R-CA-41] · R · Cosponsor
• Rep. Dannemeyer, William E. [R-CA-39] · R · Cosponsor
• Rep. Traficant, James A., Jr. [D-OH-17] · D · Cosponsor
• Rep. Eckart, Dennis E. [D-OH-11] · D · Cosponsor
• Rep. Smith, Denny [R-OR-5] · R · Cosponsor
• Rep. Shumway, Norman D. [R-CA-14] · R · Cosponsor
• Rep. Madigan, Edward R. [R-IL-15] · R · Cosponsor
• Rep. Lagomarsino, Robert J. [R-CA-19] · R · Cosponsor
• Rep. Rhodes, John J., III [R-AZ-1] · R · Cosponsor
• Rep. Solomon, Gerald B. H. [R-NY-22] · R · Cosponsor
• Rep. Gilman, Benjamin A. [R-NY-20] · R · Cosponsor
• Rep. Smith, Larkin [R-MS-5] · R · Cosponsor
• Rep. Bilirakis, Michael [R-FL-9] · R · Cosponsor
• Rep. Machtley, Ronald K. [R-RI-1] · R · Cosponsor
• Rep. Bentley, Helen Delich [R-MD-2] · R · Cosponsor
• Rep. McEwen, Bob [R-OH-6] · R · Cosponsor
• Rep. Courter, Jim [R-NJ-12] · R · Cosponsor
• Sen. Campbell, Ben Nighthorse [R-CO] · D · Cosponsor
• Rep. Porter, John Edward [R-IL-10] · R · Cosponsor
• Sen. Inhofe, James M. [R-OK] · R · Cosponsor
• Rep. McCrery, Jim [R-LA-4] · R · Cosponsor
• Rep. Vucanovich, Barbara F. [R-NV-2] · R · Cosponsor
• Rep. Lewis, John [D-GA-5] · D · Cosponsor
• Rep. Douglas, Chuck [R-NH-2] · R · Cosponsor
• Rep. Crane, Philip M. [R-IL-8] · R · Cosponsor
• Rep. McCollum, Bill [R-FL-8] · R · Cosponsor
• Rep. Coble, Howard [R-NC-6] · R · Cosponsor
• Rep. Saiki, Patricia [R-HI-1] · R · Cosponsor
• Rep. Herger, Wally [R-CA-2] · R · Cosponsor
• Rep. Gallegly, Elton [R-CA-24] · R · Cosponsor
• Rep. Rowland, John G. [R-CT-5] · R · Cosponsor
• Rep. Hyde, Henry J. [R-IL-6] · R · Cosponsor
• Rep. Rohrabacher, Dana [R-CA-48] · R · Cosponsor
• Rep. Sensenbrenner, F. James, Jr. [R-WI-5] · R · Cosponsor
• Rep. Dreier, David [R-CA-26] · R · Cosponsor

Showing 48 of 52 sponsors and actors.

Related records

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