3.0.0 1723 2022-03-01T06:43:08Z 2022-03-01T06:43:08Z House H HR 2011-05-04 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. POSEY:H.R. 1723.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 3[Page H3062]]]> hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Markup by 2011-11-17T14:29:46Z Hearings by 2011-07-08T20:10:50Z Referred to 2011-06-02T20:54:20Z Referred to 2011-05-04T14:04:35Z Common Sense Economic Recovery Act of 2012 112 4029 HR 2012-02-23 Referred to the Subcommittee on Financial Institutions and Consumer Credit. Related bill CRS 2011-11-17 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Subcommittee Consideration and Mark-up Session Held. Committee 2011-07-08 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Subcommittee Hearings Held. Committee 2011-06-02 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2011-05-04 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2011-05-04 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-05-04 Introduced in House IntroReferral 1000 9 Library of Congress P000599 Rep. Posey, Bill [R-FL-15] Bill Posey R FL 15 N P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2011-05-04 True W000796 Rep. Westmoreland, Lynn A. [R-GA-3] Lynn Westmoreland R GA A. 3 2011-05-04 True I000056 Rep. Issa, Darrell E. [R-CA-49] DARRELL ISSA R CA E. 49 2011-05-04 True W000806 Rep. Webster, Daniel [R-FL-8] Daniel Webster R FL 8 2011-05-04 True J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2011-05-04 True M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2011-05-04 True M001144 Rep. Miller, Jeff [R-FL-1] Jeff Miller R FL 1 2011-05-04 True H001053 Rep. Hartzler, Vicky [R-MO-4] Vicky Hartzler R MO 4 2011-05-04 True P000373 Rep. Pitts, Joseph R. [R-PA-16] JOSEPH PITTS R PA R. 16 2011-05-04 True F000461 Rep. Flores, Bill [R-TX-17] Bill Flores R TX 17 2011-05-04 True G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 2011-05-04 True B000208 Rep. Bartlett, Roscoe G. [R-MD-6] ROSCOE BARTLETT R MD G. 6 2011-05-04 True P000588 Rep. Pearce, Stevan [R-NM-2] Stevan Pearce R NM 2 2011-05-04 True G000550 Rep. Gingrey, Phil [R-GA-11] Phil Gingrey R GA 11 2011-05-04 True M001147 Rep. McCotter, Thaddeus G. [R-MI-11] Thaddeus McCotter R MI G. 11 2011-05-04 True L000569 Rep. Luetkemeyer, Blaine [R-MO-9] Blaine Luetkemeyer R MO 9 2011-05-04 True T000467 Rep. Thompson, Glenn [R-PA-5] Glenn Thompson R PA 5 2011-05-04 True G000569 Rep. Grimm, Michael G. [R-NY-13] Michael Grimm R NY G. 13 2011-05-10 False B001243 Rep. Blackburn, Marsha [R-TN-7] Marsha Blackburn R TN 7 2011-05-12 False C001051 Rep. Carter, John R. [R-TX-31] John Carter R TX R. 31 2011-05-24 False B001149 Rep. Burton, Dan [R-IN-5] DAN BURTON R IN 5 2011-05-25 False H001052 Rep. Harris, Andy [R-MD-1] Andy Harris R MD 1 2011-05-25 False G000377 Rep. Granger, Kay [R-TX-12] KAY GRANGER R TX 12 2011-05-25 False B001262 Rep. Broun, Paul C. [R-GA-10] Paul Broun R GA C. 10 2011-05-26 False F000460 Rep. Farenthold, Blake [R-TX-27] Blake Farenthold R TX 27 2011-06-01 False C001053 Rep. Cole, Tom [R-OK-4] Tom Cole R OK 4 2011-06-01 False M001177 Rep. McClintock, Tom [R-CA-4] Tom McClintock R CA 4 2011-06-02 False M001139 Rep. Miller, Gary G. [R-CA-42] GARY MILLER R CA 42 2011-06-03 False R000571 Rep. Rehberg, Denny [R-MT-At Large] DENNY REHBERG R MT 0 2011-06-03 False S001186 Rep. Southerland, Steve II [R-FL-2] Steve Southerland R FL 2 2011-06-14 False G000289 Rep. Goodlatte, Bob [R-VA-6] ROBERT GOODLATTE R VA W. 6 2011-06-15 False W000807 Rep. West, Allen B. [R-FL-22] Allen West R FL B. 22 2011-06-15 False C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2011-06-15 False C000059 Rep. Calvert, Ken [R-CA-44] KEN CALVERT R CA 44 2011-06-23 False S000822 Rep. Stearns, Cliff [R-FL-6] CLIFF STEARNS R FL 6 2011-06-28 False D000604 Rep. Dent, Charles W. [R-PA-15] Charles Dent R PA W. 15 2011-06-28 False F000458 Rep. Fincher, Stephen Lee [R-TN-8] Stephen Fincher R TN Lee 8 2011-07-05 False M001180 Rep. McKinley, David B. [R-WV-1] David McKinley R WV B. 1 2011-07-05 False C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 2011-07-07 False L000576 Rep. Long, Billy [R-MO-7] Billy Long R MO 7 2011-07-11 False G000563 Rep. Gibbs, Bob [R-OH-18] Bob Gibbs R OH 18 2011-07-11 False G000562 Rep. Gardner, Cory [R-CO-4] Cory Gardner R CO 4 2011-07-11 False B001271 Rep. Benishek, Dan [R-MI-1] Dan Benishek R MI 1 2011-07-13 False L000566 Rep. Latta, Robert E. [R-OH-5] Robert Latta R OH E. 5 2011-07-18 False N000186 Rep. Nunnelee, Alan [R-MS-1] Alan Nunnelee R MS 1 2011-08-01 False W000187 Rep. Waters, Maxine [D-CA-35] MAXINE WATERS D CA 35 2011-09-13 False W000808 Rep. Wilson, Frederica S. [D-FL-17] Frederica Wilson D FL S. 17 2011-09-15 False W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2011-09-15 False L000575 Rep. Lankford, James [R-OK-5] James Lankford R OK 5 2011-09-20 False F000450 Rep. Foxx, Virginia [R-NC-5] Virginia Foxx R NC 5 2011-09-29 False R000593 Rep. Ross, Dennis A. [R-FL-12] Dennis Ross R FL A. 12 2011-10-06 False H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2011-10-31 False Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Government studies and investigations Housing finance and home ownership Finance and Financial Sector 00 2011-05-04 Introduced in House 2011-07-08T15:22:35Z Common Sense Economic Recovery Act of 2011 - Cites circumstances under which, for purposes of determining capital requirements or measuring an insured depository institution's capital, such an institution may treat a non-accrual loan as an accrual loan.

(Non-accrual [also known as non-performing or doubtful] loans are those on which interest is overdue and full collection of principal is uncertain, and so interest, if it has not been paid in over 90 days, cannot be credited to the bank's revenue account until it has actually been received.)

Conditions treatment as an accrual loan on a non-accrual loan's being current, not more than 30 days delinquent on a monthly payment, and an amortizing loan whose payments are not being funded through an interest reserve account.

Applies accrual loan treatment, to the same extent as non-modified mortgage loans, to modified mortgage loans meeting the criteria of this Act, including those that also meet the criteria for troubled debt restructuring.

Prohibits the appropriate federal banking agency from imposing any additional accounting requirements upon an insured depository institution with respect to a loan treated as an accrual loan under this Act if the result of the additional requirement would adversely impact measurement of the institution's capital.

Directs the Financial Stability Oversight Council to study how best to prevent the issuance of contradictory guidance to such institutions by federal banking agencies with respect to loan classifications and capital requirements.

]]> Common Sense Economic Recovery Act of 2011 Short Titles as Introduced Common Sense Economic Recovery Act of 2011 Display Title Common Sense Economic Recovery Act of 2011 Official Title as Introduced To permit certain current loans that would otherwise be treated as non-accrual loans as accrual loans for certain purposes. Introduced in House 2011-05-04T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1723ih/xml/BILLS-112hr1723ih.xml 2011-11-17 Subcommittee Consideration and Mark-up Session Held. 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.