I 111th CONGRESS 1st Session H. R. 2118 IN THE HOUSE OF REPRESENTATIVES April 27, 2009 Mr. McCarthy of California (for himself, Mr. Bachus, Mr. McCotter, Mr. Neugebauer, Mr. Jones, Mr. Lance, Mrs. Capito, and Mr. Garrett of New Jersey) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Emergency Economic Stabilization Act of 2008 to provide for more detailed repayment procedures for assistance received under the Troubled Asset Relief Program.

1.

Additional repayment procedures

(a)

In general

Title I of the Emergency Economic Stabilization Act of 2008 (12 U.S.C. 5201 et seq.) is amended by adding at the end the following new section:

137.

Additional repayment procedures

Not later than 15 days after the Secretary is notified by a financial institution that such financial institution is prepared to immediately repay all assistance received by such institution under this title, the Secretary, in consultation with the appropriate Federal banking agency (as such term is defined in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q))), if any, shall either— (1)accept such repayment; or (2)notify such institution, in writing, that the individual financial position of such institution does not currently permit the repayment of such assistance, and include in such notice information detailing steps the institution can take to satisfy the Secretary and the appropriate Federal banking agency, if any, that the institution is in a position to repay such assistance.

. (b)

Conforming amendment

The table of contents for such Act is amended by inserting after the item relating to section 136 the following new item: 137. Additional repayment procedures. .