3.0.0 2549 2023-01-11T13:19:09Z 2023-01-11T13:19:09Z House H HR 2009-05-21 111 hsba00 Financial Services Committee House Standing Referred to 2009-05-21T14:07:47Z 2009-05-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-05-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-05-21 Introduced in House IntroReferral 1000 9 Library of Congress C001037 Rep. Capuano, Michael E. [D-MA-8] MICHAEL CAPUANO D MA E. 8 N M001171 Rep. Maffei, Daniel B. [D-NY-25] Daniel Maffei D NY B. 25 2009-05-21 True K000008 Rep. Kanjorski, Paul E. [D-PA-11] PAUL KANJORSKI D PA E. 11 2009-05-21 True F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2009-05-21 True C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2009-05-21 True B001234 Rep. Baca, Joe [D-CA-43] JOE BACA D CA 43 2009-05-21 True M000933 Rep. Moran, James P. [D-VA-8] JAMES MORAN D VA P. 8 2009-05-21 True A000210 Rep. Andrews, Robert E. [D-NJ-1] ROBERT ANDREWS D NJ E. 1 2009-05-21 True C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 2009-05-21 True Finance and Financial Sector Administrative law and regulatory procedures Banking and financial institutions regulation Financial services and investments Performance measurement Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2009-05-21 Introduced in House 2009-07-02T14:53:01Z Municipal Bond Fairness Act - Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to require each registered nationally recognized statistical rating organization (NSRO) (credit rating agency) to establish, maintain, and enforce written policies and procedures reasonably designed to: (1) establish and maintain credit ratings with respect to securities and money market instruments designed to assess the risk that investors in such instruments may not receive payment in accordance with their terms of issuance; and (2) define clearly any rating symbol and apply it consistently.

Permits an NSRO to use or consider the following when assessing the risk that an investor in a security or money market instrument will not receive repayment in accordance with the terms of issuance: (1) additional credit factors that it has documented and disclosed; (2) credit factors that are unique to municipal securities that are not backed by the issuer's full faith and credit; or (3) an additional credit rating symbol to distinguish ratings of a certain type of security or money market instrument from ratings of any other types.

Prohibits the SEC from imposing any requirement that prevents an NSRO from establishing ratings that are complementary to such mandatory ratings and that are created to measure a discrete aspect of risk.

Directs the SEC to establish performance measures to consider when deciding whether to initiate a review concerning whether an NSRO has failed to adhere to its procedures and methodologies for issuing ratings.

]]> Municipal Bond Fairness Act Display Title Municipal Bond Fairness Act Official Title as Introduced To ensure uniform and accurate credit rating of municipal bonds and provide for a review of the municipal bond insurance industry. Introduced in House IH Short Titles as Introduced Municipal Bond Fairness Act Introduced in House 2009-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2549ih/xml/BILLS-111hr2549ih.xml 2009-05-21 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.