U.S. Congress - H.R.1909 FFSCC Charter Act of 2011
H.R.1909 - FFSCC Charter Act of 2011
To create a charter for Federal Financial Services and Credit Companies. view all titles (2)
All Bill Titles
- Short: FFSCC Charter Act of 2011 as introduced.
- Official: To create a charter for Federal Financial Services and Credit Companies. 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: 2
- Past Seven Days: 12
- All-Time: 902
|
|
|
|
|
|
|
|
Official Summary
5/13/2011--Introduced.FFSCC Charter Act of 2011 - Directs the Comptroller of the Currency to: (1) provide for the establishment and chartering of Federal Financial Services and Credit Companies (FFSCCs); and (2) ensure that credit alternatives are available to the underbanked. Prescribes eOfficial Summary
5/13/2011--Introduced.FFSCC Charter Act of 2011 - Directs the Comptroller of the Currency to:(1) provide for the establishment and chartering of Federal Financial Services and Credit Companies (FFSCCs); and
(2) ensure that credit alternatives are available to the underbanked. Prescribes eligibility criteria for an FFSCC charter. Subjects FFSCCs to specified requirements, including:
(1) credit disclosures;
(2) account access;
(3) financial literacy programs;
(4) a comprehensive array of financial services to the underbanked, unbanked, and consumers with low credit scores; and
(5) grant of access to credit products predominately to unbanked or underbanked consumers. Subjects FFSCCs to an annual fee to offset the cost of implementing this Act. Directs the Comptroller to:
(1) draft approved, model product and disclosure forms that may be utilized by FFSCCs with any approved credit products or services;
(2) study rates and terms used in the extension of credit; and
(3) develop a suite of FSCC financial products for underbanked persons which contain transparent and full disclosure of all related fees and terms, and are economically viable for FFSCCs to offer.
...Read the Rest
Recent News Coverage
Federal Charter for Nonbanks Would Harm Unbanked
Ryan Gilbert's recent BankThink article "Give Nonbanks a Nationwide Reach" is part of a massive lobbying campaign by major payday lenders and others to sway Congress to pass H.R. 1909. The National Pawnbrokers Association opposes the federal charter ...
Federal Charter for Nonbanks Would Harm Unbanked
Ryan Gilbert's recent BankThink article "Give Nonbanks a Nationwide Reach" is part of a massive lobbying campaign by major payday lenders and others to sway Congress to pass H.R. 1909. The National Pawnbrokers Association opposes the federal charter ...
Federal Charter for Nonbanks Would Harm Unbanked
Ryan Gilbert's recent BankThink article "Give Nonbanks a Nationwide Reach" is part of a massive lobbying campaign by major payday lenders and others to sway Congress to pass H.R. 1909. The National Pawnbrokers Association opposes the federal charter ...
Recent Blog Coverage
View All (268)
|
View Top Rated
Oligarchy: Overcriminalized.com Legislative Update
H.R. 1909 would authorize the Comptroller of the Currency to charter Federal Financial Services and Credit Companies (FFSCCs), while likewise imposing a series of vague, broad duties on these financial entities. An FFSCC ...
Oligarchy: Overcriminalized.com Legislative Update
H.R. 1909 would authorize the Comptroller of the Currency to charter Federal Financial Services and Credit Companies (FFSCCs), while likewise imposing a series of vague, broad duties on these financial entities. An FFSCC ...
Oligarchy: Overcriminalized.com Legislative Update
H.R. 1909 would authorize the Comptroller of the Currency to charter Federal Financial Services and Credit Companies (FFSCCs), while likewise imposing a series of vague, broad duties on these financial entities. An FFSCC ...
Users tracking H.R.1909 (1) are also tracking:
| Bills | People |
|---|---|
Vote on This Bill
-
Share This Bill
More Share via Email
