111th Congress: Action on Banking & Financial Services

During the 111th Congress, I have agreed to co-sponsor the following selected measures which deal with our nation's banking and financial services industries. This is not a comprehensive list of all the legislation I have co-sponsored related to banking and financial services. You can view a comprehensive list at the Legislation Co-Sponsored Section of this site or through the Library of Congress Thomas site.

Legislation I have supported includes:

 

• H.R. 627, The Cardholders' Bill of Rights Act, was signed into law by the President on May 22, 2009.  I voted in favor of the bill.  Included in the legislation is my amendment clarifying that depository institutions whose mortgage lending activity is already subject to rulemaking and oversight by the Federal banking agencies, are not subject to potentially conflicting rules issued by the Federal Trade Commission under its authority to issue mortgage lending rules pursuant to section 626 of the Omnibus Appropriations Act of 2009.  The amendment also makes conforming amendments to the provisions authorizing state attorney generals to assist the FTC in enforcement of the FTC’s rules under section 626.  During the Senate Banking Committee markup, I successfully included an amendment that would increase the FDIC and NCUA borrowing authority from the U.S. Treasury.  Enacted into law.
• S. 451, a bill to require the Secretary of the Treasury to mint coins in commemoration of the centennial of the establishment of the Girl Scouts of the United States of America. Introduced February 23, 2009.
• S. 541, a bill to increase the borrowing authority of the Federal Deposit Insurance Corporation, and for other purposes. Introduced March 5, 2009.
• S. 896, the Helping Families Save Their Homes Act, was signed by the President on May 20, 2009; I voted in favor of the bill.  Included in the legislation is language that Crapo worked on to make sure that the FDIC and NCUA can immediately access the necessary resources to resolve failing banks and credit unions and provide timely protection to insured depositors.  I voted for the Grassley amendment that gives the independent auditing arm of Congress the authority to access information from the Federal Reserve about its bailout and financial stabilization efforts.  Enacted into law.
• S. 908, a bill to amend the Iran Sanctions Act of 1996 to enhance United States diplomatic efforts with respect to Iran by expanding economic sanctions against Iran. Introduced April 28, 2009.
• S. 1082, The GROWTH Act.  Defers taxes on reinvested mutual fund capital gains distributions until the investor sells their fund shares. Introduced May 20, 2009.

Other actions I have taken to support and improve banking and financial services in Idaho and throughout the country include:

• Supported funding requests for FY2010 to benefit Idaho.

 

Back to Banking Main Page