3.0.0 1603 2019-11-15T20:53:23Z 2019-11-15T20:53:23Z House H HR 2013-04-17 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. GRIMM:H.R. 1603.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3[Page H2124]]]> hsba00 Financial Services Committee House Standing Referred to 2013-04-17T14:03:10Z 2013-04-17 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-04-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-04-17 Introduced in House IntroReferral 1000 9 Library of Congress G000569 Rep. Grimm, Michael G. [R-NY-11] Michael Grimm R NY G. 11 N K000210 Rep. King, Peter T. [R-NY-2] PETER KING R NY T. 2 2013-04-17 True M001137 Rep. Meeks, Gregory W. [D-NY-5] GREGORY MEEKS D NY W. 5 2013-04-17 True F000451 Rep. Fitzpatrick, Michael G. [R-PA-8] Michael Fitzpatrick R PA G. 8 2013-11-18 False S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2014-01-31 False S001165 Rep. Sires, Albio [D-NJ-8] Albio Sires D NJ 8 2014-03-27 False Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Charitable contributions Civil actions and liability Department of the Treasury Federal Reserve System Federally chartered organizations Securities Small business Social work, volunteer service, charitable organizations Finance and Financial Sector 00 2013-04-17 Introduced in House 2013-04-30T20:33:41Z Mutual Community Bank Competitive Equality Act - Amends the Revised Statutes of the United States to authorize the Comptroller of the Currency to charter mutual national banks either de novo or through a conversion of any insured depository institution or any state mutual bank or credit union.

Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue Mutual Investment Certificates, to be included as Tier 1 capital for purposes of any capital standards issued by an appropriate federal banking agency.

Amends the Home Owners' Loan Act to: (1) prohibit any company or subsidiary, or any director, officer, employee, or person with voting power or holding proxies representing more than 25% of the voting shares of such company or subsidiary, from holding, soliciting, or exercising any proxies in respect of a mutual savings association with the intention to to control the association; and (2) allow an aggrieved association to bring a civil action to prevent such takeover attempts.

Prohibits any company, subsidiary, director, officer, employee, or person owning, controlling, or holding with the power to vote, or holding proxies representing more than 25% of the voting shares of such a company or subsidiary, to hold, solicit, or exercise any proxies in respect of a mutual savings association with the view or intention to controlling or attempting to control it directly or indirectly.

Prescribes conditions under which a mutual holding company or its stock subsidiary may: (1) contribute stock to a charitable foundation either the company or the stock subsidiary establishes, and (2) waive the right to receive any dividend declared by one of its subsidiaries.

Requires the Board of Governors of the Federal Reserve to apply its Small Bank Holding Company Policy Statement to any mutual holding company that would otherwise qualify as a small bank holding company, if it were one.]]>

Mutual Community Bank Competitive Equality Act Short Titles as Introduced Mutual Community Bank Competitive Equality Act Display Title Mutual Community Bank Competitive Equality Act Official Title as Introduced To support and promote community financial institutions in the mutual form, and for other purposes. Introduced in House 2013-04-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1603ih/xml/BILLS-113hr1603ih.xml 2013-04-17 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.