H.R. 2547 · 110th Congress
FDIC Enforcement Enhancement Act
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 110th Congress ended.
D
SiresSponsor2 cosponsors · 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced May 24, 2007
- House Passed Jul 16, 2007
FDIC Enforcement Enhancement Act - Amends the Federal Deposit Insurance Act (FDIA) to prohibit use of the terms "Federal Deposit," "Federal Deposit Insurance," "Federal Deposit Insurance Corporation," any combination of such terms, or the abbreviation "FDIC," as part of the business name or firm name of any person or business entity, including any…
What it does: CRS summary · Passed House amended · Jul 16, 2007
FDIC Enforcement Enhancement Act - Amends the Federal Deposit Insurance Act (FDIA) to prohibit use of the terms "Federal Deposit," "Federal Deposit Insurance," "Federal Deposit Insurance Corporation," any combination of such terms, or the abbreviation "FDIC," as part of the business name or firm name of any person or business entity, including any advertisement, solicitation, or other document.
Prohibits use of such terms, or any other sign or symbol as part of a document, to represent, suggest, or imply that any deposit liability, obligation, certificate, or share is insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) if in fact the instrument is not insured or guaranteed by the FDIC.
Prohibits knowing misrepresentations of: (1) the federally insured status of any deposit liability, obligation, certificate, or share; or (2) the extent or the manner in which such instruments are insured by the FDIC.
Grants the FDIC jurisdiction over any person that violates this Act, and certain enforcement authority as if the person were a state nonmember insured bank.
Empowers the FDIC to issue orders requiring: (1) immediate cessation; and (2) affirmative action to prevent any further violation, or to remedy an existing one.
Subjects violations of this Act to civil money penalties.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FDIC Enforcement Enhancement Act
Latest action (Jul 17, 2007): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 24, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced May 24, 2007
- House Passed Jul 16, 2007
No recorded floor vote found.