Official Bill Info

• Latest Action: Jul 21, 2010 Signed by President.

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• Committee Assignment: House Financial Services

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  This bill has been assigned to the House Financial Services committee.
• Committee Assignment: House Agriculture

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  This bill has been assigned to the House Agriculture committee.
• Committee Assignment: House Energy and Commerce

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  This bill has been assigned to the House Energy and Commerce committee.
• Committee Assignment: House Judiciary

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  This bill has been assigned to the House Judiciary committee.
• Committee Assignment: House Rules

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  This bill has been assigned to the House Rules committee.
• Committee Assignment: House Budget

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  This bill has been assigned to the House Budget committee.
• Committee Assignment: House Oversight and Government Reform

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  This bill has been assigned to the House Oversight and Government Reform committee.
• Committee Assignment: House Ways and Means

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  This bill has been assigned to the House Ways and Means committee.
• Committee Assignment: Senate Banking, Housing, and Urban Affairs

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  This bill has been assigned to the Senate Banking, Housing, and Urban Affairs committee.
This bill's most-recent vote occurred on July 15, 2010, with a roll call of 60 ayes, 39 nays, and 0 not voting.
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This bill's most-recent vote occurred on July 15, 2010, with a roll call of 60 ayes, 39 nays, and 0 not voting.

Bill Statistics on OpenCongress

Contribution Data

OpenCongress Bill Summary

• This is comprehensive legislation to overhaul regulations in the financial sector. It would establish a new Consumer Financial Protection Agency to regulate products like home mortgages, car loans and credit cards, give the Treasury Department new authority to place non-bank financial firms, like insurance companies into receivership, regulate the over-the-counter derivatives market, and more.

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  Here's a summary from OpenCongress.org: This is comprehensive legislation to overhaul regulations in the financial sector. It would establish a new Consumer Financial Protection Agency to regulate products like home mortgages, car loans and credit cards, give the Treasury Department new authority to place non-bank financial firms, like insurance companies into receivership, regulate the over-the-counter derivatives market, and more.

Supporting Organizations

• American Association of Retired Persons

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• Public Citizen

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• Petroleum Marketers Association of America

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• National Farmers Union

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• Western Peanut Growers Association

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• Appraisal Institute

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• American Trucking Associations

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• American Cotton Shippers Association

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• Air Transport Association of America

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• R-CALF USA

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  I know that the organization R-CALF USA supports H.R.4173
• National Association Convenience Stores

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  I know that the organization National Association Convenience Stores supports H.R.4173

Opposing Organizations

• National Association of Federal Credit Unions

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• American Bankers Association

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• Independent Community Bankers of America

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• US Chamber of Commerce

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• National Association of Mortgage Bankers

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• Business Roundtable

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Most-commented sections of the bill text

• To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end ‘too big to fail’, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes. (1 comments, Link )

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  specifically, this section of the legislation: "To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end ‘too big to fail’, to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes.",
• ‘(F) The purchase, sale, acquisition, or disposition of securities and other instruments described in subsection (h)(4) by a regulated insurance company directly engaged in the business of insurance for the general account of the company and by any affiliate of such regulated insurance company, provided that such activities by any affiliate are solely for the general account of the regulated insurance company, if-- (1 comments, Link )

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  specifically, this section of the legislation: "‘(F) The purchase, sale, acquisition, or disposition of securities and other instruments described in subsection (h)(4) by a regulated insurance company directly engaged in the business of insurance for the general account of the company and by any affiliate of such regulated insurance company, provided that such activities by any affiliate are solely for the general account of the regulated insurance company, if--",

Highest Rated User Comments

• On December 10, 2009, by NoGoodOnesLeft - I don't understand how those companies were allowed to become "too big to fail" in the first place. They shouldn't necessarily be broken up, but if they fail then they fail - taxpayers shouldn't pay for them to stay in business. Let the employees give up their million dollar bonuses or take pay cuts like other businesses have had to do.

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  As noted by NoGoodOnesLeft, a user on OpenCongress.org, on December 10, 2009, "I don't understand how those companies were allowed to become "too big to fail" in the first place. They shouldn't necessarily be broken up, but if they fail then they fail - taxpayers shouldn't pay for them to stay in business. Let the employees give up their million dollar bonuses or take pay cuts like other businesses have had to do."
• On April 22, 2010, by toray99 - Repealing Glass Steagall act in the clinton days was the problem. What about fannie and freddie...? How much did barney and boyfriend herb moses make on the deal..?? Let's not forget old cris dodd...

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  As noted by toray99, a user on OpenCongress.org, on April 22, 2010, "Repealing Glass Steagall act in the clinton days was the problem. What about fannie and freddie...? How much did barney and boyfriend herb moses make on the deal..?? Let's not forget old cris dodd..."
• On June 27, 2010, by Chris51 - Congress rushed through a $700 billion bailout of Wall Street in 2008. The Wall Street Journal reported last week that American corporations have increased their cash reserves to $1.84 TRILLION, the highest figure in history. In other words, big business and the banks, after an unprecedented bailout by the public treasury, are hoarding the funds that could put millions back to work. The cash reserves of major corporations have jumped 26 percent in one year, the largest percentage increase in nearly 60 years. The cash reserves of working people, and particularly the unemployed, have not been so fortunate... BIG COMPANIES CAN CHOOSE NOT TO HIRE THE UNEMPLOYED BASED ON THEIR CREDIT REPORT change.org

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  As noted by Chris51, a user on OpenCongress.org, on June 27, 2010, "Congress rushed through a $700 billion bailout of Wall Street in 2008. The Wall Street Journal reported last week that American corporations have increased their cash reserves to $1.84 TRILLION, the highest figure in history. In other words, big business and the banks, after an unprecedented bailout by the public treasury, are hoarding the funds that could put millions back to work. The cash reserves of major corporations have jumped 26 percent in one year, the largest percentage increase in nearly 60 years. The cash reserves of working people, and particularly the unemployed, have not been so fortunate... BIG COMPANIES CAN CHOOSE NOT TO HIRE THE UNEMPLOYED BASED ON THEIR CREDIT REPORT change.org"

Highly Rated Blog Articles

• Cap and Trade is Corporate Welfare, Not for the Environment ... - October 11, 2011 by http://onlinetradinguk.org/ - ... Sachs. en.wikipedia.org The CFTC is regulating the Chicago Climate Exchange www.carbonoffsetsdaily.com HR 4173 makes TARP permanent. www.opencongress.org/bill/111-h4173/show Volcker ran around the world warning about ...

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  As noted by http://onlinetradinguk.org/ on October 11, 2011, "... Sachs. en.wikipedia.org The CFTC is regulating the Chicago Climate Exchange www.carbonoffsetsdaily.com HR 4173 makes TARP permanent. www.opencongress.org/bill/111-h4173/show Volcker ran around the world warning about ..." (http://onlinetradinguk.org/cap-and-trade-is-corporate-welfare-not-for-the-environment/7925/)
• S.Con.Res.16: A concurrent resolution expressing ... - OpenCongress - October 03, 2011 by opencongress.org - 2010-07-21. http://www.opencongress.org/bill/111-h4173/show. Retrieved 2011-01-02. ^ "S.3217: Restoring American Financial Stability Act of 2010 - U.S. Congress". OpenCongress. ... Source: Tristen Cosgrove ... - - ...

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  As noted by opencongress.org on October 03, 2011, "2010-07-21. http://www.opencongress.org/bill/111-h4173/show. Retrieved 2011-01-02. ^ "S.3217: Restoring American Financial Stability Act of 2010 - U.S. Congress". OpenCongress. ... Source: Tristen Cosgrove ... - - ..." (http://www.opencongress.org/bill/111-sc16/show)
• H.R.1910 - Chief Technology Officer Act of 2009 - OpenCongress - October 03, 2011 by opencongress.org - 2010-07-21. http://www.opencongress.org/bill/111-h4173/show. Retrieved 2011-01-02. ^ "S.3217: Restoring American Financial Stability Act of 2010 - U.S. Congress". OpenCongress. ... Source: Tristen Cosgrove ...

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  As noted by opencongress.org on October 03, 2011, "2010-07-21. http://www.opencongress.org/bill/111-h4173/show. Retrieved 2011-01-02. ^ "S.3217: Restoring American Financial Stability Act of 2010 - U.S. Congress". OpenCongress. ... Source: Tristen Cosgrove ..." (http://www.opencongress.org/bill/111-h1910/show)

Highly Rated News Articles

• Unemployment Extension on Americans' Minds - December 02, 2010 by U.S. News & World Report - Dodd-Frank Wall Street Reform and Consumer Protection Act (HR 4173) Also known as the "Restoring American Financial Stability Act," or more commonly as the ...

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  As noted by U.S. News & World Report on December 02, 2010, " Dodd-Frank Wall Street Reform and Consumer Protection Act (HR 4173) Also known as the "Restoring American Financial Stability Act," or more commonly as the ... " (http://www.usnews.com/news/articles/2010/12/02/unemployment-extension-on-americans-minds)
• What Security Wrought in 2010 - December 01, 2010 by CIO - While HR 4173 (Dodd-Frank) imposes new regulations, the details are left up to several agencies, some newly created and yet to be bootstrapped. ...

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  As noted by CIO on December 01, 2010, " While HR 4173 (Dodd-Frank) imposes new regulations, the details are left up to several agencies, some newly created and yet to be bootstrapped. ... " (http://www.cio.com/article/642095/What_Security_Wrought_in_2010)
• What security wrought in 2010 - November 30, 2010 by Computerworld - While HR 4173 (Dodd-Frank) imposes new regulations, the details are left up to several agencies, some newly created and yet to be bootstrapped. ...

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  As noted by Computerworld on November 30, 2010, " While HR 4173 (Dodd-Frank) imposes new regulations, the details are left up to several agencies, some newly created and yet to be bootstrapped. ... " (http://www.computerworld.com/s/article/9199020/What_security_wrought_in_2010?taxonomyId=145)