U.S. Congress - H.R.1289 Insurance Disclosure Act
H.R.1289 - Insurance Disclosure Act
To enhance the availability of capital and credit for all citizens and communities, to ensure that community reinvestment keeps pace as banks, securities firms, and other financial service providers become affiliates as a result of the enactment of the Gramm-Leach-Bliley Act, and for other purposes. view all titles (3)
All Bill Titles
- Short: Insurance Disclosure Act as introduced.
- Official: To enhance the availability of capital and credit for all citizens and communities, to ensure that community reinvestment keeps pace as banks, securities firms, and other financial service providers become affiliates as a result of the enactment of the Gramm-Leach-Bliley Act, and for other purposes. as introduced.
- Short: Community Reinvestment Modernization Act of 2007 as introduced.
This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.
Bill's Views
- Today: 1
- Past Seven Days: 5
- All-Time: 2,271
|
|
|
|
|
|
|
|
Committees
Official Summary
3/1/2007--Introduced.Community Reinvestment Modernization Act of 2007 - Repeals specified revisions to regulations governing the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Director of the Office of TOfficial Summary
3/1/2007--Introduced.Community Reinvestment Modernization Act of 2007 - Repeals specified revisions to regulations governing the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Director of the Office of Thrift Supervision. Reinstates banking agency regulations in effect before the publication of such revisions. Amends the Bank Holding Company Act of 1956 (BHCA) to subject to the Community Reinvestment Act of 1977 (CRA) nonbank affiliates of bank holding companies that engage in lending or offering banking products or services. Amends the CRA to require a rating reduction for a regulated financial institution engaged in negative credit practices, including predatory and discriminatory lending. States that securities companies, mortgage banks, and insurance companies have a continuing affirmative obligation to meet the financial services needs in their assessment areas, including those of low- and moderate-income neighborhoods and persons of modest means. Requires their affiliates to attain satisfactory ratings in accordance with this Act. Insurance Disclosure Act - Directs the Secretary of Housing and Urban Development to establish requirements for insurers to submit information annually regarding noncommercial insurance, rural insurance, and investments by insurers. Requires the Secretary to make such information public. Directs the Financial Institutions Examination Council to maintain a comprehensive database containing the hierarchical structure of financial holding companies, bank holding companies, depository institutions, and non-depository institutions. Amends the BHCA to allow certain expanded financial activities by a bank holding company only if it or its affiliate has neither:
(1) been adjudicated in federal court; nor
(2) entered into a consent decree or settlement agreement, premised upon a violation of the Fair Housing Act (antiredlining requirement). Requires:
(1) public meetings regarding bank acquisitions and mergers; and
(2) a period for public comment regarding branch closures. Amends the CRA to subject all regulated financial institutions, regardless of size or aggregate assets, to mandatory biennial examinations.
...Read the Rest
Recent News Coverage
Hmmmm, no news coverage found for this bill at this time. This means that this this bill has not yet been mentioned on a publicly-searchable news website by either its official number (for example, "H.R. 3200") or title (for example, "America's Affordable Health Choices Act of 2009"). As soon as that changes, our daily automated search across the Web will catch it and include it here. If this bill is of interest to you, you can write a letter to the editor referring to this bill by name, and if your letter is published on the Web, a link back your letter will appear here within about one day. Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as possible. Thanks for helping to build public knowledge about Congress.
Recent Blog Coverage
American Renaissance News: Countering the Lie About Race and the ...
Meanwhile, grassroots housing activists are working to strengthen the Community Reinvestment Act. One bill (H.R. 1289), sponsored by Rep. Eddie Bernice Johnson, D-Texas, would broaden the scope of the CRA to include financial ...
Countering The Lie About Race And The Meltdown
One bill (HR 1289), sponsored by Rep. Eddie Bernice Johnson, D-Texas, would broaden the scope of the CRA to include financial institutions not currently covered by the law and would undo dilutions of the law that have taken place under ...
LowellRocks.com Forum | Politics | Discussion: Am I the only one ...
H.R. 1289: Community Reinvestment Modernization Act of 2007: Fact: Introduced but never voted on. Source: govtrack.us/congress/bill.xpd?... The last substantial changes to the CRA were in 1995: In early 1993 President Bill Clinton ...
Vote on This Bill
-
Share This Bill
More Share via Email
