Financial Services Regulatory Relief Amendments Act of 2006

Summary

Financial Services Regulatory Relief Amendments Act of 2006 - Amends the Federal Deposit Insurance Act regarding depository institutions lacking federal deposit insurance to authorize the state supervisor of a private deposit insurer, or of a depository institution which receives deposits insured by a private deposit insurer, to examine and enforce compliance with the requirement that a private deposit insurer obtain annual independent audits. Requires depository institutions without federal deposit insurance to disclose on every share certificate that: (1) the institution is not federally insured; and (2) if it fails, the federal government does not guarantee that depositors will get back their money. Revises the requirement that such institutions disclose conspicuously in all advertising and at each place where deposits are normally received that the institution is not federally insured. Requires such a notice also on the institution's main Internet page. Requires the institution to obtain or attempt to obtain a written acknowledgment of such disclosure from new depositors acquired through a conversion or merger. Redefines depository institution and repeals a certain related prohibition. Modifies Federal Trade Commission (FTC) authority to enforce compliance with the requirements of the Act for depository institutions lacking federal deposit insurance. Confers enforcement authority for compliance with the requirements of the Act upon a state supervisor of such an institution. Imposes on certain other lenders the maximum interest rate or related charges for debt applicable to home state banks in competition with local branches of out-of-state banks.

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

Timeline

1. 14 September 2006

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 14 September 2006

   Introduced

   Introduced in House

   Source: IntroReferral

3. 14 September 2006

   Introduced

   Introduced in House

   Source: IntroReferral

4. 27 September 2006

   Passed

   Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H7604-7605)

   Source: Floor

5. 27 September 2006

   Floor

   DEBATE - The House proceeded with forty minutes of debate on H.R. 6072.

   Source: Floor

6. 27 September 2006

   Passed

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

   Source: Floor

7. 27 September 2006

   Passed

   On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H7604-7605)

   Source: Floor

8. 27 September 2006

   Floor

   Considered under suspension of the rules. (consideration: CR H7604-7605)

   Source: Floor

9. 27 September 2006

   Floor

   Mr. McHenry moved to suspend the rules and pass the bill.

   Source: Floor

10. 28 September 2006

    Introduced

    Received in the Senate.

    Source: IntroReferral

11. 13 November 2006

    Introduced

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

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Referred in Senate · 13 November 2006 · Official file
• Engrossed in House · 27 September 2006 · Official file
• Introduced in House · 14 September 2006 · Official file

Documents

8 official files

• Referred in Senate (text)

  Referred in Senate · EN · 13 November 2006

  ViewDownloadOpen at official source

• Referred in Senate (PDF)

  Referred in Senate · EN · 13 November 2006

  ViewDownloadOpen at official source

• Engrossed in House (text)

  Engrossed in House · EN · 27 September 2006

  ViewDownloadOpen at official source

• Engrossed in House (PDF)

  Engrossed in House · EN · 27 September 2006

  ViewDownloadOpen at official source

• Passed House without amendment

  summary · EN · 27 September 2006

  Open at official source

• Introduced in House (text)

  Introduced in House · EN · 14 September 2006

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 14 September 2006

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 14 September 2006

  Open at official source

Sponsors

• Rep. Ross, Mike [D-AR-4] · D · Sponsor
• Rep. Oxley, Michael G. [R-OH-4] · R · Sponsor
• · ssbk00 · Standing
• · hsba00 · Standing

Related records

No cross-record relationships stored yet.