A bill to amend the Federal Deposit Insurance Act.

Summary

Amends the Federal Deposit Insurance Act, with respect to contracts entered into by an insured depository institution before appointment of a conservator or receiver, to require an undercapitalized insured depository institution to notify the Federal Deposit Insurance Corporation (FDIC) before entering into an agreement to sell credit card accounts receivable. Cites circumstances under which the FDIC may, in its sole discretion, waive its right to repudiate such agreement. Shields the FDIC from liability for its waiver action. Sets forth an interim definition of undercapitalized insured depository institution to signify one that does not comply with any currently applicable minimum capital standard prescribed by the appropriate Federal banking agency.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

4 official files

• Referred in House (text)

  Referred in House · EN

  ViewDownloadOpen at official source

• Engrossed in Senate (text)

  Engrossed in Senate · EN

  ViewDownloadOpen at official source

• Considered and Passed Senate (text)

  Considered and Passed Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 5 October 1992

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.