US Congress House Bill 4254 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on December 9 2009 - 25% progression, died in committee
Action: 2009-12-09 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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.

Community Bank Preservation Act

Rep. Marcy Kaptur [D-OH]

Date	Chamber	Action
2009-12-09		Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/house-bill/4254/all-info
Text	https://www.congress.gov/111/bills/hr4254/BILLS-111hr4254ih.pdf