Industrial Bank Holding Company Act of 2007

Summary

Industrial Bank Holding Company Act of 2007 - Amends the Federal Deposit Insurance Act (FDIA) to apply the bank share or asset acquisition requirements of the Bank Holding Company Act of 1956 to any company that is or would become an industrial bank holding company. Subjects an industrial bank to Federal Deposit Insurance Corporation (FDIC) requirements regarding registration, reporting, and bank examinations. Prohibits the FDIC from imposing capital or capital adequacy requirements on functionally regulated affiliates of any depository institution controlled by industrial bank holding companies meeting certain criteria. Requires a federal supervisory agency of an industrial bank holding company to forego examination of any depository institution subsidiary of the holding company. Authorizes the FDIC to require from either a regulatory agency or a holding company that controls an industrial bank any information necessary to: (1) assess risk to the industrial bank; or (2) determine its condition. Prohibits an industrial bank from being controlled by a commercial firm, except in certain circumstances. Prescribes activity and branching limitations affecting industrial bank subsidiaries of certain commercial firms. Authorizes a federal supervisory agency to order a holding company or a nonbank subsidiary to terminate an activity or its ownership or control over certain depository institution subsidiaries if the activity or ownership or control of a nonbank subsidiary represents a serious risk to a depository institution subsidiary of the holding company. Subjects foreign bank acquisition or control of an industrial bank to approval of the Board of Governors of the Federal Reserve System. Requires a holding company of an industrial bank to serve as a source of financial and managerial strength to its subsidiary banks. Subjects an industrial bank holding company to: (1) enforcement by the FDIC, including its nonbank subsidiaries; and (2) the prompt corrective action requirements of the FDIA.

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Timeline

1. 10 May 2007

   Introduced

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

   Source: IntroReferral

2. 10 May 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 10 May 2007 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 May 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 May 2007

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 10 May 2007

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. Johnson, Tim [D-SD] · D · Sponsor
• Sen. Allard, Wayne [R-CO] · R · Sponsor
• Sen. Feingold, Russell D. [D-WI] · D · Sponsor
• Sen. Thune, John [R-SD] · R · Cosponsor
• Sen. Dorgan, Byron L. [D-ND] · D · Cosponsor
• Sen. Harkin, Tom [D-IA] · D · Cosponsor
• Sen. Sanders, Bernard [I-VT] · I · Cosponsor
• Sen. Voinovich, George V. [R-OH] · R · Cosponsor
• Sen. Kerry, John F. [D-MA] · D · Cosponsor
• Sen. Domenici, Pete V. [R-NM] · R · Cosponsor
• Sen. Durbin, Richard J. [D-IL] · D · Cosponsor
• Sen. Obama, Barack [D-IL] · D · Cosponsor
• Sen. Casey, Robert P., Jr. [D-PA] · D · Cosponsor
• Sen. Tester, Jon [D-MT] · D · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Industrial Bank Holding Company Act of 2007