U.S. Congress - H.R.4516 Financial Services Industry Stability Act of 2010
H.R.4516 - Financial Services Industry Stability Act of 2010
To provide stability in the financial services industry by promoting transparency, simplicity, fairness, accountability, and equal access in the market for consumer financial products or services and ensuring that no financial company becomes too big to fail, and for other purposes. view all titles (2)
All Bill Titles
- Official: To provide stability in the financial services industry by promoting transparency, simplicity, fairness, accountability, and equal access in the market for consumer financial products or services and ensuring that no financial company becomes too big to fail, and for other purposes. as introduced.
- Short: Financial Services Industry Stability Act of 2010 as introduced.
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Official Summary
1/26/2010--Introduced.Financial Services Industry Stability Act of 2010 - Directs the Chairman of the Board of Governors of the Federal Reserve System to review all programs administered by the Board and utilize them in furtherance of this Act. Directs each federal department, agency, andOfficial Summary
1/26/2010--Introduced.Financial Services Industry Stability Act of 2010 - Directs the Chairman of the Board of Governors of the Federal Reserve System to review all programs administered by the Board and utilize them in furtherance of this Act. Directs each federal department, agency, and independent establishment in the executive branch to utilize its authority to:(1) implement programs to promote transparency, simplicity, fairness, accountability, and equal access in the market for consumer financial products or services; and
(2) take necessary steps to ensure that no financial company is able to pose a systemic risk to the health of the U.S. economy by becoming too large to fail. Requires the Board Chairperson to define the terms "systemic risk" and "too large to fail" and enumerate procedures that specify when and how the Chairperson and the head of any other federal department, agency, or independent executive branch establishment shall:
(1) cause financial companies that are determined to be too large to fail to restructure in size and scope of operations so as not to pose a systemic risk to the health of the U.S. economy; and
(2) impose increased capital reserve requirements upon any financial company which has been ordered to restructure. Requires the Chairperson to:
(1) define criteria for causing the restructuring of financial companies; and
(2) establish a fund composed of annual levies on financial companies to finance restructurings.
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Recent Blog Coverage
In Case You Missed It: Bill McCollum Lies About His Record On ...
290, Roll Call Vote #72: Rejected 171-243: D 138-63; R 33-178; I 0-2, 3/23/00, McCollum Did Not Vote, http://clerk.house.gov/evs/2000/roll072.xml; H.R. 4516, Roll Call Vote #476: Adopted (Thus Sent To The Senate) 212-209: D 15-187; ...
In Case You Missed It: Bill McCollum Lies About His Record On ...
290, Roll Call Vote #72: Rejected 171-243: D 138-63; R 33-178; I 0-2, 3/23/00, McCollum Did Not Vote, http://clerk.house.gov/evs/2000/roll072.xml; HR 4516, Roll Call Vote #476: Adopted (Thus Sent To The Senate) 212-209: D 15-187; ...
Scott Campaign Ad Highlights McCollum's Support for Tax Increases
290, Roll Call Vote #72: Rejected 171-243: D 138-63; R 33-178; I 0-2, 3/23/00, McCollum Did Not Vote, http://clerk.house.gov/evs/2000/roll072.xml; HR 4516, Roll Call Vote #476: Adopted (Thus Sent To The Senate) 212-209: D 15-187; ...
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