3.0.0 1822 2023-01-11T13:17:43Z 2023-01-11T13:17:43Z Senate S S 2009-10-21 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2009-10-21T17:56:50Z 2009-10-21 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2009-10-21 Sponsor introductory remarks on measure. (CR S10641-10642) IntroReferral B00100 9 Library of Congress 2009-10-21 Introduced in Senate IntroReferral 10000 9 Library of Congress M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR N B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2009-10-21 True K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2009-10-22 False L000261 Sen. Levin, Carl [D-MI] CARL LEVIN D MI MILTON 2009-10-28 False U000038 Sen. Udall, Mark [D-CO] MARK UDALL D CO 2009-11-02 False C000174 Sen. Carper, Thomas R. [D-DE] Thomas Carper D DE R. 2009-11-03 False P000590 Sen. Pryor, Mark L. [D-AR] Mark Pryor D AR Lunsford 2009-12-02 False S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2009-12-02 False H001049 Sen. Hagan, Kay R. [D-NC] Kay Hagan D NC R. 2009-12-08 False Finance and Financial Sector Bank accounts, deposits, capital Consumer credit Credit and credit markets Financial crises and stabilization Government lending and loan guarantees Interest, dividends, interest rates Finance and Financial Sector 00 2009-10-21 Introduced in Senate 2009-12-16T20:37:52Z Bank On Our Communities Act of 2009 - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to provide that the needs and viability of insured depository institutions with total assets of less than $5 billion (small financial institutions) may be taken into account by the Secretary of the Treasury when exercising authority under EESA.

Establishes within the Treasury the Community Credit Renewal Fund to provide up to $15 billion in assistance to community banking institutions.

Prescribes the manner in which a community banking institution may establish its long-term viability by demonstrating receipt of capital from investors other than the Secretary.

Subjects a community banking institution to penalties if has failed by December 31, 2010, to: (1) increase its total amount of commercial, industrial, and consumer loans by a dollar amount equal to the amount of capital received from the Secretary; or (2) increase its total amount of commercial and industrial loans by a dollar amount at least 5 % greater than the smallest amount of such loans held by the community banking institution as of any quarter end of the first three quarters in calendar year 2009.

Prescribes lending incentives to spur commercial and industrial loans by a community banking institution.

]]> Bank On Our Communities Act of 2009 Display Title Bank On Our Communities Act of 2009 Official Title as Introduced A bill to amend the Emergency Economic Stabilization Act of 2008, with respect to considerations of the Secretary of the Treasury in providing assistance under that Act, and for other purposes. Introduced in Senate IS Short Titles as Introduced Bank On Our Communities Act of 2009 Introduced in Senate 2009-10-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s1822is/xml/BILLS-111s1822is.xml 2009-10-21 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.