Depository Institution-GSE Affiliation Act of 1998

Summary

Depository Institution-GSE Affiliation Act of 1998 - Amends the Federal Deposit Insurance Act to specify circumstances under which the Secretary of the Treasury may: (1) approve an affiliation between a depository institution and the Student Loan Marketing Association (SALLIE MAE) solely in its reorganized, privatized status as "the Holding Company," not in its status as a government sponsored enterprise (GSE); and (2) impose affiliation terms and conditions, including constraints upon either the issuance of debt obligations by SALLIE MAE in its GSE status, or upon the use of proceeds from such obligations. (Current law prohibits affiliations between depository institutions and GSEs.) Limits the value of the investment portfolio of SALLIE MAE in its GSE status in the event such affiliation should occur to the lesser of: (1) its value upon enactment of this Act; or (2) its value on the date such affiliation is consummated. Grants the Secretary enforcement powers under the Higher Education Act of 1965.

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Timeline

1. 12 October 1998

   Referred

   Referred to the Subcommittee on Financial Institutions and Consumer Credit.

   Source: Committee

2. 12 October 1998

   Introduced

   Referred to the House Committee on Banking and Financial Services.

   Source: IntroReferral

3. 12 October 1998

   Introduced

   Introduced in House

   Source: IntroReferral

4. 12 October 1998

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 October 1998 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 October 1998

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 October 1998

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 October 1998

  Open at official source

Sponsors

• Rep. Snowbarger, Vince [R-KS-3] · R · Sponsor
• Rep. Kanjorski, Paul E. [D-PA-11] · D · Sponsor
• Rep. Davis, Tom [R-VA-11] · R · Sponsor
• · hsba00 · Standing

Related records

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