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United States · Bill · HR

H.R. 7226 (110th)

Net Worth Certificate Program Act of 2008

referredUnited States· United States Congress· EN

Introduced

29 September 2008

Last action

29 September 2008 · Introduced

Status

Referred to the House Committee on Financial Services.

Sponsors

Rep. Shadegg, John B. [R-AZ-3], Rep. Kingston, Jack [R-GA-1], Rep. Roskam, Peter J. [R-IL-6], Rep. Deal, Nathan [R-GA-9], Rep. Fortenberry, Jeff [R-NE-1], Rep. Gingrey, Phil [R-GA-11], Rep. Westmoreland, Lynn A. [R-GA-3], Rep. Bachmann, Michele [R-MN-6], Rep. Sali, Bill [R-ID-1], Rep. Weldon, Dave [R-FL-15], Rep. Gohmert, Louie [R-TX-1], Rep. Foxx, Virginia [R-NC-5], Rep. Drake, Thelma D. [R-VA-2], Rep. Garrett, Scott [R-NJ-5], Rep. Sessions, Pete [R-TX-17], Rep. Pearce, Stevan [R-NM-2], Rep. Akin, W. Todd [R-MO-2], Rep. Hoekstra, Peter [R-MI-2], Rep. Rogers, Mike J. [R-MI-8], Rep. Barrett, J. Gresham [R-SC-3], Sen. Flake, Jeff [R-AZ], Sen. Blackburn, Marsha [R-TN], Rep. Brady, Kevin [R-TX-8], Rep. Carter, John R. [R-TX-31], Rep. McCaul, Michael T. [R-TX-10], Rep. Tiberi, Patrick J. [R-OH-12], Rep. Brown-Waite, Ginny [R-FL-5], Rep. Johnson, Sam [R-TX-3], Rep. King, Steve [R-IA-4], Rep. Manzullo, Donald A. [R-IL-16], Rep. Sensenbrenner, F. James, Jr. [R-WI-5], Rep. Feeney, Tom [R-FL-24], Rep. Biggert, Judy [R-IL-13], Rep. Doolittle, John T. [R-CA-4], Rep. McCotter, Thaddeus G. [R-MI-11]

Subjects

Discovery layer

Source updated

14 August 2025

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Summary

Net Worth Certificate Program Act of 2008 - Directs the Chairman of the Federal Deposit Insurance Corporation (FDIC) to create a net worth certificate program that will settle the financial markets without significant expense to taxpayers. States that such program will be authorized to purchase net worth certificates by issuing FDIC senior notes to the banks in the form of subordinated debentures, or in any other form the Chairman determines meets program goals and requirements. Requires the Chairman to certify that a bank eligible for the program is both: (1) in danger of failing; and (2) could be viable if given more time. Requires the Chairman to issue new, strict supervision rules for banks that wish to enter the program, including oversight of top executive compensation and removal of poor management.

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

Timeline

  1. 29 September 2008

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 29 September 2008

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 29 September 2008

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 29 September 2008

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  • Introduced in House (PDF)

    Introduced in House · EN · 29 September 2008

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  • Introduced in House

    summary · EN · 29 September 2008

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Sponsors

Related records

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Sources

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