H. R. 7562 seeks to amend the Federal Reserve Act to stop Federal Reserve banks from paying interest on excess reserve balances held by depository institutions. It specifies that Federal Reserve banks can only pay interest on required reserve balances, as mandated by existing...
The bill wants to change how the Federal Reserve works by saying banks wouldn't get extra money for saving extra cash, only for what they really need.
H.R. 6870 aims to modify the Equal Credit Opportunity Act to detail how creditors can consider a person's immigration status when deciding to extend credit. The bill allows creditors to inquire about someone's immigration status to understand their legal options and protections related to...
In this bill, Congress wants to change the rules about how banks look at a person's immigration status when deciding who gets a loan. They say banks can ask about it, but they shouldn't let it unfairly change their decision about giving someone money.
H. R. 10249, known as the "Generating Resources and Opportunities Within Affordable Housing Act" or the "GROW Affordable Housing Act," proposes changes to the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. The bill seeks to increase the affordable...
H.R. 10249 wants to change how much money banks have to set aside to help make houses cheaper for people. It talks about raising this amount from a little bit to a bit more, but it doesn't say why or explain who will get the help.
H. J. RES. 109 is a resolution aimed at nullifying a rule from the Securities and Exchange Commission related to "Staff Accounting Bulletin No. 121." This rule is identified as part of the federal regulations under chapter 8 of title 5 of the United States Code. The...
Congress wants to cancel a rule they don't like from a big financial group called the SEC, but they don't really explain why they want to get rid of it.
H. J. RES. 120 is a resolution in the 118th Congress that aims to revoke a specific rule created by the Financial Stability Oversight Council. The rule in question is related to "Guidance on Nonbank Financial Company Determinations" and was published on November 17, 2023. The...
The bill is about Congress wanting to stop a new rule that tells certain financial companies, that are not banks, how they should be checked or controlled. They don't like the rule and if the bill passes, it means the rule won't be used anymore.
H. J. RES. 121 is a joint resolution that expresses Congress's disapproval of a specific rule issued by the Bureau of Consumer Financial Protection. This rule concerns "Credit Card Penalty Fees (Regulation Z)" and was published in the Federal Register on March 15, 2024. By passing this...
Congress is saying, "No" to a new rule about extra fees on credit cards, and they want to make sure this rule doesn't become real so people and banks don't have to worry about it.
H. R. 9045, known as the “Community Association Reporting Exemption Act,” aims to change the United States Code to exempt certain entities from reporting their beneficial ownership details. Specifically, it would allow entities that are taxed under section 528 of the Internal Revenue Code of...
The Community Association Reporting Exemption Act is a bill that says certain groups, like homeowners' associations, don’t have to fill out some forms about who owns them. This makes it easier for those groups by reducing their paperwork.
H. RES. 1600 expresses the opinion of the House of Representatives on how artificial intelligence (AI) should be used in the financial services and housing industries. The resolution highlights both opportunities and risks associated with AI, including potential bias, data...
The bill is like a big suggestion list from the House of Representatives about how we should be careful and fair when using smart robots, called artificial intelligence, in banks and houses, to make sure we follow the rules and keep people's information safe. But, it doesn't say exactly how to do this or who should pay for it.
H. R. 10293 aims to extend the authorities granted by the Defense Production Act of 1950. Specifically, this bill proposes an amendment to change the expiration date of certain authorities from September 30, 2025, to September 30, 2026. The bill was introduced by Mr. McHenry...
This bill wants to make sure that certain special powers given to help the country make important products, like during a big emergency, keep going for one more year until the end of September 2026.
The resolution H. RES. 22 is about electing members to specific standing committees in the U.S. House of Representatives. It lists the names of representatives chosen for four committees: Appropriations, Energy and Commerce, Financial Services, and Ways and Means. This...
The resolution H. RES. 22 is like making teams at school, where certain members of the House of Representatives are chosen to join special groups called committees. These committees, like Appropriations, Energy and Commerce, Financial Services, and Ways and Means, help make important decisions for the country on things like spending money and other big projects.
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