H.R. 1445 · 111th Congress
Credit Rating Agency Transparency and Disclosure Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
McHenrySponsorNo cosponsors.
Credit Rating Agency Transparency and Disclosure Act - Amends the Securities Exchange Act of 1934 to instruct the Securities and Exchange Commission (SEC) to promulgate rules that: (1) require nationally recognized statistical rating organizations (NRSROs), with respect to their determination of credit ratings for structured securities, to disclose the…
What it does: CRS summary · Introduced in House · Mar 11, 2009
Credit Rating Agency Transparency and Disclosure Act - Amends the Securities Exchange Act of 1934 to instruct the Securities and Exchange Commission (SEC) to promulgate rules that: (1) require nationally recognized statistical rating organizations (NRSROs), with respect to their determination of credit ratings for structured securities, to disclose the information they require from originators, issuers, and underwriters regarding the collateral underlying such securities; (2) establish procedures to disseminate information about processes used by such originators, issuers, and underwriters to assess the accuracy and integrity of their data and fraud detection; and (3) require each NRSRO to maintain on a publicly accessible Internet site the historical default rates of all classes of financial products it has rated.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Credit Rating Agency Transparency and Disclosure Act
Latest action (Mar 11, 2009): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 11, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.