FINANCIAL INSTITUTIONS

Amendments

Pensions: specify requirements concerning consideration of pecuniary and non-pecuniary factors in investment decisions (H.R. 2988), H903, H905 [15JA]

——— specify requirements concerning consideration of pecuniary and non-pecuniary factors in investment decisions (H.R. 2988), consideration (H. Res. 988), H676 [13JA]

Bills and resolutions

Bankruptcy: modify certain bankruptcy eligibility requirements (see S. 3977), S762 [3MR] (see H.R. 7730), H2332 [26FE]

Business and industry: address applications for deposit insurance submitted by industrial banks to FDIC (see S. 3734), S377 [29JA]

——— clarify treatment of certain non-controlling developers or providers of distributed ledger services involved in digital assets relative to money transmission laws (see S. 3611), S130 [12JA]

CFTC: provide for system of regulation of offer and sale of digital commodities (see S. 3755), S442 [2FE] (see S. 4064), S1009 [11MR]

China: impose sanctions if China threatens security of Taiwan (see S. 4065), S1009 [11MR]

Committee on Financial Services (House): provide oversight on adoption of artificial intelligence (AI) in financial services and housing industries (see H. Res. 1007), H924 [16JA]

Consumer Financial Protection Bureau: disapprove rule entitled ‘‘Fair Credit Reporting Act; Preemption of State Laws’’ (see S.J. Res. 144), S1614 [25MR]

——— disapprove withdrawal of rule entitled ‘‘Application of Regulation Z’s Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest’’ (see S.J. Res. 146), S1615 [25MR]

——— disapprove withdrawal of rule entitled ‘‘Consumer Financial Protection Circular 2023-02—Reopening Deposit Accounts That Consumers Previously Closed’’ (see S.J. Res. 143), S1614 [25MR]

——— disapprove withdrawal of rule entitled ‘‘Consumer Financial Protection Circular 2024–02—Deceptive Marketing Practices About the Speed or Cost of Sending a Remittance Transfer’’ (see S.J. Res. 131), S1205 [18MR]

——— disapprove withdrawal of rule entitled ‘‘Consumer Financial Protection Circular 2024–04—Whistleblower Protections Under CFPA Section 1057’’ (see S.J. Res. 135), S1367 [19MR]

——— disapprove withdrawal of rule entitled ‘‘Consumer Financial Protection Circular 2024–05—Improper Overdraft Opt-In Practices’’ (see S.J. Res. 130), S1205 [18MR]

——— disapprove withdrawal of rule entitled ‘‘Fair Credit Reporting; Name-Only Matching Procedures’’ (see S.J. Res. 140), S1367 [19MR]

——— disapprove withdrawal of rule entitled ‘‘Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports’’ (see S.J. Res. 145), S1615 [25MR]

——— disapprove withdrawal of rule entitled ‘‘Statement of Policy Regarding Prohibition on Abusive Acts or Practices’’ (see S.J. Res. 147), S1615 [25MR]

——— establish Assistant Director and Student Loan Borrower Advocate and work with Dept. of Education to assist borrowers to resolve complaints related to private or Federal student loans (see H.R. 7671), H2326 [25FE]

——— reduce excessive credit card late fees (see S. 3660), S256 [15JA]

——— require attestation of certain information as part of consumer complaint submission process (see H.R. 7588), H2227 [17FE]

Credit: empower States to set maximum annual percentage rates applicable to consumer credit transactions (see S. 3721), S376 [29JA]

——— expand homeownership access (see H.R. 7647), H2258 [23FE]

——— restore and clarify intent of Federal interest rate exportation parity for State-chartered banks by allowing States to opt out of preemption only relative to loans made by their own chartered institutions (see S. 3889), S610 [12FE] (see H.R. 7866), H2475 [9MR]

Crime: establish criminal offenses relative to violations involving ATMs, regardless of whether ATM is located on physical premises of financial institution (see S. 3798), S509 [5FE]

——— establish government-wide approach to stopping identity fraud and theft in financial services industry (see H.R. 7270), H1915 [27JA]

Cryptocurrency: prohibit bailouts of digital asset market participant (see S. 4157), S1367 [19MR]

——— require foreign payment stablecoin issuers to undergo annual audit similar to U.S. payment stablecoin issuers (see S. 3907), S651 [24FE]

Dept. of Agriculture: establish expedited guaranteed lender pilot program (see H.R. 7475), H2118 [10FE]

——— expand guaranteed and direct loan eligibility to individuals or entities holding 50 percent interest and are qualified operators of farm real estate acquired, improved, or supported with certain farm loans (see S. 3936), S706 [26FE]

Dept. of Commerce: prohibit marketing, advertising, or provision of professional legal, financial, or health services without appropriate licenses (see H.R. 7985), H2596 [18MR]

Dept. of Education: eliminate interest on Federal student loans, establish Education Affordability Trust Fund, and increase annual and aggregate loan limits (see S. 4169), S1580 [24MR] (see H.R. 8045), H2674 [24MR]

——— reduce interest rates of certain Federal student loans (see H.R. 7810), H2420 [4MR]

Dept. of Homeland Security: require strategy for expanded use of U.S. Immigration and Customs Enforcement Trade Transparency Unit program (see S. 3608), S115 [8JA] (see H.R. 6988), H252 [8JA]

Dept. of HUD: report to Congress relative to exempting any downpayment requirement for mortgage insurance offered by FHA for first-time homebuyers who are first responders or school teachers (see H.R. 7755), H2368 [3MR]

——— strengthen and standardize ‘‘first look’’ protections for covered properties to ensure families and communities have priority access to foreclosed homes (see H.R. 6962), H134 [7JA]

——— study feasibility and potential impacts of portable federally backed mortgage loans (see H.R. 7754), H2368 [3MR]

Dept. of the Treasury: direct FDIC and National Credit Union Administration to establish emergency transaction account guarantee programs (see H.R. 8075), H2710 [25MR]

——— disapprove rule relative to modifications to enhanced supplementary leverage ratio standards for global systemically important bank holding companies (see S.J. Res. 110), S802 [4MR]

——— establish Climate Financial Risk Committee and Climate Financial Risk Advisory Committee on Financial Stability Oversight Council (see S. 3711), S344 [28JA] (see H.R. 7246), H1914 [27JA]

——— instruct U.S. executive directors at international financial institutions to advocate opposition to projects that make use of forced labor (see H.R. 7516), H2186 [11FE]

——— modernize and strengthen criminal laws against money laundering, update counterfeiting statutes, and enhance tools to crack down on smugglers and tax evaders to combat terrorism and organized crime (see S. 3801), S509 [5FE]

——— preserve independent funding for Office of Financial Research, establish minimum staffing levels for Financial Stability Oversight Council, and establish minimum funding levels for such staff (see H.R. 7132), H924 [16JA]

——— report to Congress on barriers to Somaliland’s access to U.S. financial system (see H.R. 7993), H2620 [19MR]

——— require certain financial institutions to verify citizenship and legal status of individuals (see S. 4206), S1614 [25MR]

——— require Director of Community Development Financial Institutions Fund to testify annually before Committee on Financial Services (House) and Committee on Banking, Housing, and Urban Affairs (Senate) (see H.R. 7775), H2369 [3MR]

Electronic Fund Transfer Act: amend to adjust certain thresholds for inflation (see S. 3849), S577 [11FE] (see H.R. 7484), H2185 [11FE]

Eximbank: reauthorize (see S. 3772), S489 [4FE]

FDIC: clarify authority to claw back certain compensation paid to executives of failed banks (see S. 4050), S1009 [11MR]

——— provide insurance for noninterest-bearing transaction accounts (see S. 4198), S1614 [25MR] (see H.R. 8087), H2710 [25MR]

——— update inflation adjustment applicable to deposit insurance and share insurance (see H.R. 8088), H2710 [25MR]

FDIC and National Credit Union Administration: carry out analysis to determine whether insurance coverage should be raised on covered transaction accounts (see H.R. 8090), H2711 [25MR]

Financial literacy: improve for secondary school students (see H.R. 7183), H1171 [21JA]

FRS: disapprove rule entitled ‘‘Revisions to the Large Financial Institution Rating System and Framework for the Supervision of Insurance Organizations’’ (see S.J. Res. 111), S802 [4MR]

——— index statutory thresholds (see H.R. 7056), H892 [14JA]

——— require Board of Governors to prescribe regulations relative to network competition in credit card transactions (see S. 3623), S161 [13JA] (see H.R. 7035), H717 [13JA]

FTC: add additional protections against harmful practices within credit repair organization industry (see S. 4144), S1367 [19MR]

GAO: conduct audit of U.S. and Venezuela energy deal (see S. 3838), S577 [11FE] (see H.R. 7819), H2470 [5MR]

Government: prohibit Federal agencies from taking adverse action due to provision of business assistance to cannabis-related legitimate businesses (see H.R. 7987), H2596 [18MR]

Government regulations: apply enhanced supervision and prudential standards applicable to bank holding companies to large banks that do not have bank holding company (see H.R. 7888), H2476 [9MR]

——— make improvements to Federal banking laws (see H.R. 6955), H133 [7JA]

——— permit Federal banking agencies to examine qualifying insured depository institutions with under $6 billion in total assets not less than once during each 18-month period (see S. 3830), S577 [11FE]

——— provide Federal financial regulators with clawback authority over executive compensation and industry prohibition and civil money penalty authority over executives whose negligence caused losses (see H.R. 7886), H2476 [9MR]

——— provide requirements for bulk auction or group sale of certain non-performing loans (see S. 3753), S419 [30JA]

——— require chief executive officers of global systemically important bank holding companies to provide annual reports to FRS Board of Governors (see H.R. 7513), H2186 [11FE]

Immigration: require financial institutions to verify lawful immigration status of applicants for deposit accounts through self-attestation form and impose penalties on individuals for false attestations (see H.R. 7842), H2471 [5MR]

Information technology: clarify criminal liability for blockchain software developers relative to prohibition of unlicensed money transmitting businesses (see H.R. 7732), H2332 [26FE]

Investments: prohibit stock sales by senior bank executives in certain circumstances (see H.R. 7887), H2476 [9MR]

Morocco: impose sanctions on Polisario Front for cooperation with Iranian-affiliated terrorist organization (see S. 4063), S1009 [11MR]

National Credit Union Administration: disapprove rule entitled ‘‘Withdrawal of Fee Reporting Requirement’’ (see S.J. Res. 142), S1580 [24MR]

——— provide flexibility to increase Federal credit union loan maturities (see S. 3616), S161 [13JA]

Nicaraguan Investment Conditionality Act (NICA): reauthorize and amend (see H.R. 7055), H892 [14JA]

Office of the Comptroller of the Currency: disapprove rule entitled ‘‘Rescission of Principles for Climate-Related Financial Risk Management for Large Financial Institutions’’ (see S.J. Res. 113), S881 [5MR]

Pensions: specify requirements concerning consideration of pecuniary and non-pecuniary factors in investment decisions (H.R. 2988), consideration (see H. Res. 988), H654 [12JA]

Public welfare programs: prohibit international wire transfers by public assistance recipients (see H.R. 7097), H919 [15JA]

Reinforcing Nicaragua’s Adherence to Conditions for Electoral Reform (RENACER) Act: reauthorize and amend (see H.R. 7055), H892 [14JA]

Russia: impose sanctions on foreign persons dealing in Russian crude oil or petroleum products (see H.R. 7506), H2186 [11FE]

SBA: provide for loan guarantees to certain small businesses (see H.R. 7229), H1350 [22JA]

SEC: amend authority of closed-end companies to invest in private funds (see S. 3671), S257 [15JA]

Taxation: apply floor plan financing interest rules to semitrailers (see H.R. 7944), H2530 [16MR]

——— create American dream accounts for purpose of setting aside tax-deferred contributions for purchase of new home (see S. 4026), S915 [9MR]

——— expand deduction for student loan interest to include payments toward principal and increase value of deduction (see H.R. 7536), H2218 [12FE]

——— include watercraft as applicable passenger vehicles for purpose of deducting personal loan interest (see H.R. 7222), H1350 [22JA]

Cost Estimates

Bringing the Discount Window Into the 21st Century Act (H.R. 3390): CBO, H2078 [9FE]

Financial Stability Oversight Council Improvement Act (H.R. 3682): CBO, H2076 [9FE]

Decisions

Applicability of Congressional Review Act to Consumer Financial Protection Bureau Agency Actions: David Powner, GAO, S1442 [20MR]

Applicability of Congressional Review Act to National Credit Union Administration Withdrawal of Fee Reporting Requirements: Edda Emmanuelli Perez, GAO, S530–S532 [9FE]

Letters

Enhanced Iran Sanctions Act: Representative Jordan, Committee on the Judiciary (House), H2501 [16MR]

——— Representative Mast, Committee on Foreign Affairs (House), H2501 [16MR]

Protecting Prudent Investment of Retirement Savings Act: Economic Policy Institute, H689 [13JA]

Motions

Pensions: specify requirements concerning consideration of pecuniary and non-pecuniary factors in investment decisions (H.R. 2988), H905 [15JA]

Remarks in House

BIA: process and complete all mortgage packages associated with residential and business mortgages on Indian land by certain deadlines (S. 723), H2359–H2362 [3MR]

China: direct financial regulators to exclude representatives of China from certain banking organizations if President notifies Congress of any threats to economic system of Taiwan or U.S. (H.R. 1531), H2078, H2079 [9FE]

Dept. of Commerce: prohibit marketing, advertising, or provision of professional legal, financial, or health services without appropriate licenses (H.R. 7985), H2557 [18MR]

Dept. of the Treasury: improve transparency of Financial Stability Oversight Council and improve systemically important financial institution (SIFI) designation process (H.R. 3682), H2074–H2076 [9FE]

——— instruct U.S. executive directors at international financial institutions to advocate opposition to projects that make use of forced labor, H2043 [9FE]

Dept. of the Treasury and OMB: examine ability of Federal Government to respond to potential fiscal shocks (H.R. 4642), H2684 [25MR]

FDIC: authorize temporary transaction account guarantee program and expand deposit and share insurance to cover business payment accounts (H.R. 4551), H2077 [9FE]

FRS: review discount window operations and implement improvements to such operations (H.R. 3390), H2076–H2078 [9FE]

GAO: require report comparing brokerage window accounts with defined contribution plans, H903, H904 [15JA]

Government regulations: require appropriate Federal banking agencies to establish phase-in period for de novo financial institutions to comply with Federal capital standards and provide relief for de novo rural community banks, H2090 [9FE]

Iran: impose sanctions on persons engaged in logistical transactions and sanctions evasion relating to oil, gas, liquefied natural gas, and related petrochemical products from Iran (H.R. 1422), H2500–H2503 [16MR]

Nuclear energy: advocate support for nuclear energy and establish nuclear energy assistance trust fund at World Bank, European Bank for Reconstruction and Development, and other international financial institutions, H739 [14JA]

Pensions: specify requirements concerning consideration of pecuniary and non-pecuniary factors in investment decisions (H.R. 2988), H897–H907 [15JA]

——— specify requirements concerning consideration of pecuniary and non-pecuniary factors in investment decisions (H.R. 2988), consideration (H. Res. 988), H670–H677 [13JA]

Remarks in Senate

Bankruptcy: modify certain bankruptcy eligibility requirements (S. 3977), S766 [3MR], S769 [4MR]

CFTC: provide for system of regulation of offer and sale of digital commodities (S. 4064), S1016 [11MR], S1017 [12MR]

CFTC and SEC: provide for system of regulation of digital assets (H.R. 3633), S1038 [12MR]

Comptroller of the Currency and FRS: allow to increase aggregate amount of investments that national banking association and State member bank may make to promote public welfare, S720 [2MR]

Credit: expand definition of active duty military consumer for purposes of certain credit monitoring requirements (S. 2074), S877 [5MR]

Cryptocurrency: provide for regulation of payment stablecoins (S. 1582), S1038 [12MR]

——— require foreign payment stablecoin issuers to undergo annual audit similar to U.S. payment stablecoin issuers (S. 3907), S653 [24FE]

Dept. of the Treasury: produce suspicious activity reports relative to Jeffrey Epstein and his associates (S. 2746), S748–S750 [3MR]

——— produce suspicious activity reports relative to Jeffrey Epstein and his associates (S. 2746), unanimous-consent request, S750 [3MR]

FRS: require Board of Governors to prescribe regulations relative to network competition in credit card transactions (S. 3623), S230–S232 [15JA]

Government regulations: provide requirements for bulk auction or group sale of certain non-performing loans (S. 3753), S420 [30JA]

Technology: provide for regulation of digital assets, S123 [12JA]

Trump, President: evaluation of administration, S202 [14JA]

Reports filed

American Financial Institution Regulatory Sovereignty and Transparency (American FIRST) Act: Committee on Financial Services (House) (H.R. 6550) (H. Rept. 119–529), H2326 [25FE]

Bank-Fintech Partnership Enhancement Act: Committee on Financial Services (House) (H.R. 6552) (H. Rept. 119–531), H2326 [25FE]

CFTC System of Regulation of Offer and Sale of Digital Commodities: Committee on Agriculture, Nutrition, and Forestry (Senate) (S. 3755), S442 [2FE]

Committee on Financial Services (House) Provision of Oversight on Adoption of Artificial Intelligence (AI) in Financial Services and Housing Industries: Committee on Financial Services (House) (bill no.) (H. Rept. 119–rpt no.), H2620 [19MR]

Community Bank Regulatory Tailoring Act: Committee on Financial Services (House) (H.R. 7056) (H. Rept. 119–558), H2620 [19MR]

Community Bank Representation Act: Committee on Financial Services (House) (H.R. 6554) (H. Rept. 119–533), H2326 [25FE]

Consideration of H.R. 2988, Protecting Prudent Investment of Retirement Savings Act: Committee on Rules (House) (H. Res. 988) (H. Rept. 119–440), H654 [12JA]

Enhancing Bank Resolution Participation Act: Committee on Financial Services (House) (H.R. 6555) (H. Rept. 119–534), H2326 [25FE]

Failing Bank Acquisition Fairness Act: Committee on Financial Services (House) (H.R. 6556) (H. Rept. 119–475), H1948 [2FE]

Financial Reporting Threshold Modernization Act: Committee on Financial Services (House) (H.R. 1799) (H. Rept. 119–556), H2620 [19MR]

Guarding Unprotected Aging Retirees From Deception (GUARD) Act: Committee on the Judiciary (Senate) (S. 2544), S533 [9FE]

Least Cost Exception Act: Committee on Financial Services (House) (H.R. 6547) (H. Rept. 119–474), H1948 [2FE]

Merger Agreement Approvals Clarity and Predictability Act: Committee on Financial Services (House) (H.R. 6570) (H. Rept. 119–535), H2326 [25FE]

Merger Process Review Act: Committee on Financial Services (House) (H.R. 6546) (H. Rept. 119–528), H2326 [25FE]

New Bank Application Numbers Knowledge (New BANK) Act: Committee on Financial Services (House) (H.R. 6551) (H. Rept. 119–530), H2326 [25FE]

No Tax Dollars for Terrorists Act: Committee on Foreign Relations (Senate) (H.R. 260), S552 [10FE]

Nomination of Robert W. Sweeney To Be Asian Development Bank U.S. Director: Committee on Foreign Relations (Senate), S1008 [11MR]

Protecting Privacy in Purchases Act: Committee on Financial Services (House) (H.R. 1181) (H. Rept. 119–522), H2325 [25FE]

Protecting Private Job Creators Act: Committee on Financial Services (House) (H.R. 3959) (H. Rept. 119–523), H2325 [25FE]

Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow (REVIEW) Act: Committee on Financial Services (House) (H.R. 6544) (H. Rept. 119–527), H2326 [25FE]

Rural Depositories Revitalization Study Act: Committee on Financial Services (House) (H.R. 6536) (H. Rept. 119–473), H1947 [2FE]

Safe Access to Cash Act: Committee on the Judiciary (Senate) (S. 3798), S880 [5MR]

Sanctioning Harborers and Dodgers of Western (SHADOW Fleet) Sanctions Act: Committee on Foreign Relations (Senate) (S. 2904), S552 [10FE]

Save Our Shrimpers Act: Committee on Financial Services (House) (H.R. 2071) (H. Rept. 119–571), H2709 [25MR]

Small Business Relief Act: Committee on Financial Services (House) (H.R. 4130) (H. Rept. 119–525), H2325 [25FE]

Small Entrepreneurs’ Empowerment and Development (SEED) Act: Committee on Financial Services (House) (H.R. 4171) (H. Rept. 119–572), H2709 [25MR]

Tailoring and Indexing Enhanced Regulations (TIER) Act: Committee on Financial Services (House) (H.R. 6553) (H. Rept. 119–532), H2326 [25FE]

Taxpayer Notification and Privacy Act: Committee on Ways and Means (House) (H.R. 6495) (H. Rept. 119–427), H133 [7JA]

Tribal Trust Land Homeownership Act: Committee on Natural Resources (House) (H.R. 2130) (H. Rept. 119–513), H2257 [23FE]

Texts of

H. Res. 988, consideration of H.R. 2988, Protecting Prudent Investment of Retirement Savings Act, H670 [13JA]

H.R. 1422, Enhanced Iran Sanctions Act, H2500 [16MR]

H.R. 1531, Pressure Regulatory Organizations To End Chinese Threats to (PROTECT) Taiwan Act, H2078 [9FE]

H.R. 2988, Protecting Prudent Investment of Retirement Savings Act, H897–H899 [15JA]

H.R. 3390, Bringing the Discount Window Into the 21st Century Act, H2076 [9FE]

H.R. 3682, Financial Stability Oversight Council Improvement Act, H2074 [9FE]

S. 723, Tribal Trust Land Homeownership Act, H2359–H2361 [3MR]

S. 2074, Servicemembers’ Credit Monitoring Enhancement Act, S877 [5MR]

S. 3838, Venezuela Oil Proceeds Transparency Act, S579 [11FE]

S. 4157, No Bailout for Crypto Act, S1380 [19MR]

S.J. Res. 147, disapprove withdrawal of Consumer Financial Protection Bureau rule entitled ‘‘Statement of Policy Regarding Prohibition on Abusive Acts or Practices’’, S1617 [25MR]