H.R. 5942 · 111th Congress
FFSCC Act of 2010
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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.
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BacaSponsor13 cosponsors · 13 D
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Clay
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Grayson
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Jackson Lee
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Johnson
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Richardson
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Meeks
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Rush
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Rodriguez
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McCollum
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Towns5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
FFSCC Act of 2010 - Authorizes the Comptroller of the Currency to provide for the organization, incorporation, examination, operation, regulation, and chartering of Federal Financial Services and Credit Companies (FFSCCs) to: (1) extend short-term and long-term credit; and (2) implement financial literacy programs.
What it does: CRS summary · Introduced in House · Jul 29, 2010
FFSCC Act of 2010 - Authorizes the Comptroller of the Currency to provide for the organization, incorporation, examination, operation, regulation, and chartering of Federal Financial Services and Credit Companies (FFSCCs) to: (1) extend short-term and long-term credit; and (2) implement financial literacy programs.
Imposes an annual fee upon FFSCCs payable to the Comptroller to offset the cost of implementing this Act.
Directs the Comptroller to: (1) study rates and terms used in the extension of credit; and (2) develop a suite of FSCC financial products that will be fair to underbanked persons and economically viable for FFSCCs to offer.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FFSCC Act of 2010
Latest action (Jul 29, 2010): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 29, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.