H.R. 4254 · 111th Congress
Community Bank Preservation 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.
D
KapturSponsorNo cosponsors.
Community Bank Preservation Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) with respect to the repayment of Troubled Asset Relief Program (TARP) assistance.
What it does: CRS summary · Introduced in House · Dec 9, 2009
Community Bank Preservation Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) with respect to the repayment of Troubled Asset Relief Program (TARP) assistance. Repeals the current requirement that revenues of, and proceeds from the sale of, troubled assets purchased under TARP, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under TARP, be paid into the general fund of the Treasury for reduction of the public debt.
Requires instead that such revenues and proceeds be transfered to the Federal Deposit Insurance Corporation (FDIC) for deposit in the Deposit Insurance Fund to be used to reduce any premium increases that would otherwise be required of smaller insured depository institutions and community banks whose prudent activities did not contribute to the financial crisis.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Community Bank Preservation Act
Latest action (Dec 9, 2009): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Dec 9, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.