Federal Savings and Loan Insurance Corporation Protection Act

Summary

Federal Savings and Loan Insurance Corporation Protection Act - Amends the National Housing Act to require the Federal Savings and Loan Insurance Corporation to reject the insurance application of any applicant if it finds that there is no need for the applicant institution in the community to be served. Permits the FSLIC, if it determines that an applicant would unduly burden the examination and supervision capability of the Federal Home Loan Bank Board or a State authority, to reject or defer the application until the FSLIC determines that there will be adequate staff at both the State and Federal levels. Prescribes the order of priority for payment, by the FSLIC as receiver, of unsecured claims against the estate of an institution in default. Repeals provisions prescribing priorities for the consideration by the FSLIC of proposals from prospective acquirers, purchasers, or merger partners for the emergency acquisition of an institution. Sets the repeal date for emergency acquisition provisions. Restricts the business activities an insured institution may commence or continue for more than three years after enactment of this Act.

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Timeline

1. 8 May 1985

   Referred

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

   Source: Committee

2. 8 May 1985

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

3. 8 May 1985

   Introduced

   Introduced in House

   Source: IntroReferral

4. 8 May 1985

   Introduced

   Introduced in House

   Source: IntroReferral

5. 11 September 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 12 September 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 18 September 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

8. 19 September 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

9. 2 October 1985

   Committee

   Subcommittee Hearings Held.

   Source: Committee

10. 3 October 1985

    Committee

    Subcommittee Hearings Held.

    Source: Committee

11. 17 October 1985

    Committee

    Subcommittee Hearings Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 8 May 1985

  Open at official source

Sponsors

• Rep. St Germain, Fernand J. [D-RI-1] · D · Sponsor
• Rep. Wylie, Chalmers P. [R-OH-15] · R · Sponsor
• · hsba00 · Standing

Related records

• related to ← Federal Savings and Loan Insurance Corporation Protection Act