Skip to content
PoliticalRepoPoliticalRepo

United States · Law · S

S. 2856 (109th)

Financial Services Regulatory Relief Act of 2006

enactedUnited States· United States Congress· EN

Introduced

18 May 2006

Last action

13 October 2006 · Became law

Status

Became Public Law No: 109-351.

Sponsors

Sen. Crapo, Mike [R-ID]

Subjects

Discovery layer

Source updated

7 April 2025

Official sourceDownload fileView documentsShare

Summary

Financial Services Regulatory Relief Act of 2006 - Amends the Securities Exchange Act of 1934 to require the Securities and Exchange Commission (SEC) to implement by rule the statutory exceptions ("traditional banking activities") to the definition of "broker" subject to such Act. Amends the Federal Reserve Act to authorize: (1) payment of interest on funds maintained by a depository institution at a Federal Reserve bank; and (2) the Federal Reserve Board to reduce the reserves required to be maintained by a depository institution against its transaction accounts. Amends the Revised Statutes of the United States and the Federal Deposit Insurance Act to revise certain national bank requirements. Amends the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to extend their purview to savings associations. Amends the Home Owners' Loan Act to repeal special rules governing purchased mortgage servicing rights. Amends the Federal Credit Union Act with respec to: (1) credit union leases on federal property; (2) increased loan limitation terms; and (3) money transfer services within the field of membership. Modifies depository institution guidelines, including: (1) reporting requirements relating to insider lending; (2) investments by insured savings associations in bank service companies; (3) streamlining of reports of condition; and (4) streamlining of depository institution merger application requirements. Revises banking agency requirements, including: (1) golden parachute authority and nonbank holding companies; (2) interagency data sharing; and (3) coordination of state examination authority. Amends the Fair Debt Collection Practices Act to exempt from federal regulatory oversight certain bad check enforcement programs operated by private entities under state regulatory oversight. Amends federal law governing sureties and surety bonds to permit the use of government obligations instead of surety bonds. Requires the Comptroller General to study and report to Congress on: (1) the currency transaction report filing system; and (2) institution diversity and consolidation.

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

Timeline

  1. 4 May 2006

    Reported

    Committee on Banking, Housing, and Urban Affairs ordered to be reported an original measure.

    Source: Committee

  2. 18 May 2006

    Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 437.

    Source: Calendars

  3. 18 May 2006

    Reported

    Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Crapo. With written report No. 109-256.

    Source: Committee

  4. 18 May 2006

    Reported

    Committee on Banking, Housing, and Urban Affairs. Original measure reported to Senate by Senator Crapo. With written report No. 109-256.

    Source: Committee

  5. 18 May 2006

    Introduced

    Introduced in Senate

    Source: IntroReferral

  6. 25 May 2006

    Passed

    Passed Senate without amendment by Unanimous Consent. (consideration: CR S5272-5283; text as passed Senate: CR S5272-5283)

    Source: Floor

  7. 25 May 2006

    Passed

    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S5272-5283; text as passed Senate: CR S5272-5283)

    Source: Floor

  8. 26 May 2006

    Floor

    Message on Senate action sent to the House.

    Source: Floor

  9. 6 June 2006

    Floor

    Held at the desk.

    Source: Floor

  10. 6 June 2006

    Floor

    Received in the House.

    Source: Floor

  11. 27 September 2006

    Vote

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.

    Source: Floor

  12. 27 September 2006

    Floor

    DEBATE - The House proceeded with forty minutes of debate on S. 2856.

    Source: Floor

  13. 27 September 2006

    Floor

    Mr. Oxley moved to suspend the rules and pass the bill, as amended.

    Source: Floor

  14. 27 September 2006

    Passed

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

    Source: Floor

  15. 27 September 2006

    Vote

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays (2/3 required): 417 - 0 (Roll No. 494).

    Source: Floor

  16. 27 September 2006

    Vote

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays (2/3 required): 417 - 0 (Roll No. 494).

    Source: Floor

  17. 27 September 2006

    Floor

    Considered under suspension of the rules.

    Source: Floor

  18. 28 September 2006

    Floor

    Message on House action received in Senate and at desk: House amendment to Senate bill.

    Source: Floor

  19. 30 September 2006

    Passed

    Senate agreed to House amendment by Unanimous Consent. (consideration: CR 9/29/2006 S10779-10791; text as Senate agreed to House amendment: CR 9/29/2006 S10779-10791)

    Source: ResolvingDifferences

  20. 30 September 2006

    Passed

    Resolving differences -- Senate actions: Senate agreed to House amendment by Unanimous Consent.(consideration: CR 9/29/2006 S10779-10791; text as Senate agreed to House amendment: CR 9/29/2006 S10779-10791)

    Source: NotUsed

  21. 3 October 2006

    Floor

    Presented to President.

    Source: Floor

  22. 3 October 2006

    President

    Presented to President.

    Source: President

  23. 13 October 2006

    Became law

    Became Public Law No: 109-351.

    Source: President

  24. 13 October 2006

    President

    Signed by President.

    Source: President

  25. 13 October 2006

    Became law

    Signed by President.

    Source: BecameLaw

Votes

No vote records are attached yet.

Versions

Documents

15 official files

Enrolled Bill (text)

View fileDownload file

This file cannot be previewed here. Use View or Download.

Leesvertaling

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

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

  • Enrolled Bill (text)

    Enrolled Bill · EN

    ViewDownloadOpen at official source

  • Enrolled Bill (PDF)

    Enrolled Bill · EN

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Public Law (text)

    Public Law · EN · 13 October 2006

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Public Law (PDF)

    Public Law · EN · 13 October 2006

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Public Law

    summary · EN · 13 October 2006

    Open at official source

    Leesvertaling

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

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

  • Engrossed Amendment House (text)

    Engrossed Amendment House · EN · 27 September 2006

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Engrossed Amendment House (PDF)

    Engrossed Amendment House · EN · 27 September 2006

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Passed House amended

    summary · EN · 27 September 2006

    Open at official source

    Leesvertaling

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

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

  • Engrossed in Senate (text)

    Engrossed in Senate · EN · 25 May 2006

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Engrossed in Senate (PDF)

    Engrossed in Senate · EN · 25 May 2006

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Passed Senate without amendment

    summary · EN · 25 May 2006

    Open at official source

    Leesvertaling

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

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

  • Placed on Calendar Senate (text)

    Placed on Calendar Senate · EN · 18 May 2006

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Placed on Calendar Senate (PDF)

    Placed on Calendar Senate · EN · 18 May 2006

    ViewDownloadOpen at official source

    Leesvertaling

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

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

  • Reported to Senate without amendment

    summary · EN · 18 May 2006

    Open at official source

    Leesvertaling

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

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

  • Introduced in Senate

    summary · EN · 18 May 2006

    Open at official source

    Leesvertaling

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

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

Sponsors

Related records

Related across the Repo ecosystem

Direct relationships are identifier-backed. Topic context means shared TopicMembership — not a citation and not causation.

Direct relationships

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.