3.0.0 4516 2023-01-11T13:16:44Z 2023-01-11T13:16:44Z House H HR 2010-01-26 111 hsba00 Financial Services Committee House Standing Referred to 2010-01-26T17:31:46Z 2010-01-26 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2010-01-26 Sponsor introductory remarks on measure. (CR H336) IntroReferral B00100 9 Library of Congress 2010-01-26 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-01-26 Introduced in House IntroReferral 1000 9 Library of Congress D000355 Rep. Dingell, John D. [D-MI-15] JOHN DINGELL D MI D. 15 N Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Business investment and capital Corporate finance and management Federal Reserve System Financial crises and stabilization Financial services and investments Government trust funds User charges and fees Finance and Financial Sector 00 2010-01-26 Introduced in House 2010-03-03T18:15:56Z 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.

]]> Financial Services Industry Stability Act of 2010 Display Title Financial Services Industry Stability Act of 2010 Official Title as Introduced 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. Introduced in House IH Short Titles as Introduced Financial Services Industry Stability Act of 2010 Introduced in House 2010-01-26T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4516ih/xml/BILLS-111hr4516ih.xml 2010-01-26 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.