H.R.4254 - Community Bank Preservation Act

To direct amounts derived from the repayment of TARP assistance to the Deposit Insurance Fund of the Federal Deposit Insurance Corporation to reduce the amount of any increase in premiums that would otherwise be required of smaller insured depository institutions and community banks whose prudent activities did not contribute to the financial crisis, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Community Bank Preservation Act as introduced.
  • Official: To direct amounts derived from the repayment of TARP assistance to the Deposit Insurance Fund of the Federal Deposit Insurance Corporation to reduce the amount of any increase in premiums that would otherwise be required of smaller insured depository institutions and community banks whose prudent activities did not contribute to the financial crisis, and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
12/09/09
 
 
 
 
 
 
 

Official Summary

Community Bank Preservation Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) with respect to the repayment of Troubled Asset Relief Program (TARP) assistance. Repeals the current requirement that revenues of, and proceeds from the sale of, troubled assets purchased under

Official Summary

Community Bank Preservation Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) with respect to the repayment of Troubled Asset Relief Program (TARP) assistance. Repeals the current requirement that revenues of, and proceeds from the sale of, troubled assets purchased under TARP, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under TARP, be paid into the general fund of the Treasury for reduction of the public debt. Requires instead that such revenues and proceeds be transfered to the Federal Deposit Insurance Corporation (FDIC) for deposit in the Deposit Insurance Fund to be used to reduce any premium increases that would otherwise be required of smaller insured depository institutions and community banks whose prudent activities did not contribute to the financial crisis.

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