Summary: Unclaimed Savings Bond Act of 2009 - Directs the Secretary of the Treasury to conduct a demonstration program to: (1) identify and locate the owners of specified unredeemed U.S. savings bonds; and (2) provide bondholder location and assistance grants to states for the purpose of bond owner location and notification activities. Requires the Secretary to attempt to locate owners of specified unredeemed savings bonds for which the registered address: (1) is located in a state not participating in the demonstration program in the fiscal year in which such bond would otherwise have been referred to such state; or (2) is not located in any state. Requires the Secretary to deduct and withhold from the proceeds of any matured outstanding U.S. savings bond, on the later of the date of maturity of such bond or the date of the enactment of this Act, a tax in an amount equal to the applicable percentage of the amount which, if such bond were redeemed, would constitute interest. Includes the deemed interest amount in the bondholder's gross income.

unclaimed savings bond act directs secretary treasury conduct demonstration program identify locate owners specified savings bonds provide location assistance grants states purpose bond owner location notification activities requires secretary attempt locate owners specified savings bonds registered address located state participating demonstration program fiscal year bond referred state located state requires secretary deduct withhold proceeds matured outstanding savings bond later date maturity bond date enactment act tax equal applicable percentage bond redeemed constitute interest includes deemed interest gross income


Summary: Amends the Small Business Act to consider an individual with a net worth of less than $978,722 as eligible for participation in a Small Business Administration (SBA) program providing grants to small businesses owned and controlled by socially and economically disadvantaged individuals. Requires such amount to be adjusted annually for inflation.

amends small_business_act consider individual net worth eligible participation small_business_administration sba program providing grants small businesses owned controlled socially economically disadvantaged individuals requires adjusted annually inflation


Summary: 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.

eesa respect repayment troubled_asset_relief_program tarp assistance repeals current requirement revenues proceeds sale troubled assets purchased tarp sale exercise surrender warrants senior debt instruments acquired tarp paid general fund treasury reduction public debt requires instead revenues proceeds federal_deposit_insurance_corporation fdic deposit deposit_insurance_fund reduce premium increases required smaller insured depository institutions community banks prudent activities contribute financial crisis


Summary: Government Grants Accountability Act - Requires each recipient of federal agency grant funds to report to that agency with respect to each fiscal year: (1) the total amount of grant funds received from that agency; (2) the amount expended or obligated to projects or activities; and (3) a detailed list of such projects or activities. Requires each agency with grant accounts, during the first quarter of each fiscal year, to: (1) identify any undisbursed balances in such accounts as of the end of the preceding fiscal year; and (2) return such undisbursed balances to the Treasury by the end of such quarter. Applies such requirement to grant accounts whose period of availability is not greater than one fiscal year.

government grants accountability act requires recipient federal agency grant funds report agency respect fiscal year total grant funds received agency expended obligated projects activities detailed list projects activities requires agency grant accounts quarter fiscal year identify undisbursed balances accounts end preceding fiscal year return undisbursed balances treasury end quarter applies requirement grant accounts period availability greater fiscal year


Summary: Small Business Start-up Savings Accounts Act of 2009 - Amends the Internal Revenue Code to provide for tax-exempt Small Business Start-up Savings Accounts to pay for trade or business expenses, including the purchase of equipment or facilities, marketing, training, incorporation, and accounting fees. Allows annual contributions to such accounts up to $10,000. Sets forth rules for the tax treatment of contributions to and rollovers from such accounts, similar to rules governing individual retirement accounts (IRAs).

small business start savings accounts act amends internal revenue code provide tax exempt small business start savings_accounts pay trade business expenses including purchase equipment facilities marketing training incorporation accounting fees allows annual contributions accounts sets forth rules tax treatment contributions rollovers accounts similar rules governing individual retirement accounts iras


Summary: Amends the Internal Revenue Code to allow insured depository banks with assets not exceeding $10 billion a general business tax credit for their financial regulation compliance expenditures. Defines "financial regulation compliance expenditures" as any state or federal fees or assessments imposed on insured depository institutions and any amounts paid by such institutions to comply with supervision or examination by state or federal bank regulators.

amends internal revenue code allow insured depository banks assets exceeding billion general business tax credit financial regulation compliance expenditures defines financial regulation compliance expenditures state federal fees assessments imposed insured depository institutions amounts paid institutions comply supervision examination state federal bank regulators


Summary: Regulated Investment Company Modernization Act of 2010 - Amends the Internal Revenue Code to revise the tax treatment of regulated investment companies (RICs). Title I: Capital Loss Carryovers of Regulated Investment Companies - (Sec. 101) Sets forth a special rule allowing unlimited carryovers of the net capital losses of RICs. Title II: Modification of Gross Income and Asset Tests of Regulated Investment Companies - (Sec. 201) Exempts RICs from loss of tax-preferred status and additional tax for failure to satisfy the gross income and assets tests if such failure is due to reasonable cause and not due to willful neglect and is de minimis. Title III: Modification of Rules Related to Dividends and Other Distributions - (Sec. 301) - Revises the definitions of "capital gain dividend" and "exempt-interest dividend" for purposes of the taxation of RICs and their shareholders to require such dividends to be reported to shareholders in written statements. Sets forth a special rule for the allocation of the excess reported amounts of such dividends. (Sec. 302) Excludes net capital losses of RICs from earnings and profits. Prohibits an RIC's earnings and profits from being reduced by any amount which is not allowable as a deduction in computing taxable income, except with respect to such a net capital loss. (Sec. 303) Allows an RIC, in the case of a qualified fund of funds, to pay exempt-interest dividends and allow its shareholders the foreign tax credit without regard to certain investment requirements in state and local bonds and foreign securities. (Sec. 304) Modifies rules for dividends paid by RICs after the close of a taxable year (spillover dividends). (Sec. 305) Revises the method for allocating RIC earnings and profits to require such earnings and profits to be allocated first to distributions made prior to December 31 of a calendar year. (Sec. 306) Allows RICs with shares that are redeemable upon demand to treat distributions in redemption of stock as an exchange for income tax purposes. (Sec. 307) Repeals preferential dividend rules for RICs that are publicly offered. (Sec. 308) Allows an RIC to elect to treat a post-October capital loss and any late-year ordinary loss as arising on the first day of the following taxable year. (Sec. 309) Exempts from holding period requirements applicable to RIC stock regular dividends paid by an RIC which declares exempt-interest dividends on a daily basis in an amount equal to at least 90% of its net tax-exempt interest and distributes such dividends on a monthly or more frequent basis. Title IV: Modifications Related to Excise Tax Applicable to Regulated Investment Companies - (Sec. 401) Extends the exemption from excise tax for failure to distribute taxable income of an RIC to other tax-exempt entities with an ownership interest in an RIC. (Sec. 402) Allows specified gain and loss of an RIC derived after October 31 of a calendar year to be deferred, for excise tax purposes, until January 1 of the following calendar year. (Sec. 403) Sets forth a special rule for estimated excise tax payments of RICs. (Sec. 404) Increases from 98% to 98.2% the amount of capital gain net income RICs are required to distribute. Title V: Other Provisions - (Sec. 501) Repeals the additional penalty on RICs for tax deficiencies for which a deficiency dividend has been distributed. (Sec. 502) Modifies the deferral rule for load charges in acquiring RIC stock where the taxpayer acquires the RIC stock before January 31 of the calendar year following the calendar year in which the original stock is sold.

act amends internal revenue code revise tax treatment regulated investment companies rics title capital loss carryovers regulated investment companies sec sets forth special rule allowing unlimited carryovers net capital losses rics title modification gross income asset tests regulated investment companies sec exempts rics loss tax preferred status additional tax failure satisfy gross income assets tests failure reasonable cause willful neglect minimis title iii modification rules related dividends distributions sec revises definitions capital gain dividend exempt interest dividend purposes taxation rics shareholders require dividends reported shareholders written statements sets forth special rule allocation excess reported amounts dividends sec excludes net capital losses rics earnings profits prohibits ric earnings profits reduced allowable deduction computing taxable income respect net capital loss sec allows ric case qualified fund funds pay exempt interest dividends allow shareholders foreign tax credit regard certain investment requirements state local bonds foreign securities sec modifies rules dividends paid rics close taxable year dividends sec revises method allocating ric earnings profits require earnings profits allocated distributions prior december calendar year sec allows rics shares redeemable demand treat distributions redemption stock exchange income tax purposes sec repeals preferential dividend rules rics publicly offered sec allows ric elect treat post october capital loss late year ordinary loss arising day following taxable year sec exempts holding period requirements applicable ric stock regular dividends paid ric declares exempt interest dividends daily basis equal net tax exempt interest distributes dividends monthly frequent basis title modifications related excise tax applicable regulated investment companies sec extends exemption excise tax failure distribute taxable income ric tax exempt entities ownership interest ric sec allows specified gain loss ric derived october calendar year deferred excise tax purposes january following calendar year sec sets forth special rule estimated excise tax payments rics sec increases capital gain net income rics required distribute title provisions sec repeals additional penalty rics tax deficiencies deficiency dividend distributed sec modifies deferral rule load charges acquiring ric stock taxpayer acquires ric stock january calendar year following calendar year original stock sold


Summary: Glass-Steagall Restoration Act - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities. Prohibits the staff and personnel of corporations and partnerships (as well as any individual) primarily engaged in the issue, flotation, underwriting, public sale, or distribution, of stocks, bonds, or other similar securities from serving simultaneously as an officer, director, or employee of any member bank. Authorizes the Board of Governors of the Federal Reserve System to grant an exception in limited classes of cases when in the Board's judgment it would not unduly influence the investment policies of such member bank or the advice it gives its customers regarding investments.

glass steagall act prohibit member bank affiliated specified organizations engaged principally issue flotation underwriting public sale distribution stocks bonds debenture notes securities prohibits staff personnel corporations partnerships individual primarily engaged issue flotation underwriting public sale distribution stocks bonds similar securities serving simultaneously officer director employee member bank authorizes board_of_governors federal_reserve_system grant exception limited classes cases board judgment unduly influence investment policies member bank advice gives customers investments


Summary: Freedom from Discrimination in Credit Act of 2009 - Amends the Equal Credit Opportunity Act to prohibit discrimination on account of sexual orientation or gender identity when extending credit. Defines: (1) "gender identity" as the gender-related identity, appearance, or mannerisms or other gender-related characteristics of an individual with or without regard to the individual's designated sex at birth; (2) "person" as a natural person, corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association; and (3) "sexual orientation" as homosexuality, heterosexuality, or bisexuality.

freedom discrimination credit act amends equal_credit_opportunity_act prohibit discrimination account sexual orientation gender identity extending credit defines gender identity gender related identity appearance mannerisms gender related characteristics individual regard individual designated sex birth person natural person corporation government governmental subdivision agency trust estate partnership cooperative association sexual orientation homosexuality bisexuality


Summary: Return to Prudent Banking Act of 2009 - Amends the Federal Deposit Insurance Act (FDIA) to prohibit an insured depository institution from being an affiliate of any broker or dealer, investment adviser, investment company, or any other person or entity engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debentures, notes, or other securities. Prohibits officers, directors and employees of securities firms from simultaneous service on the boards of depository institutions, except in specified circumstances. Requires any such individual serving as an officer, director, employee, or other institution-affiliated party of any insured depository institution to terminate such service as soon as practicable after enactment of this Act. Requires an insured depository institution to wind-down in an orderly manner and terminate any affiliation prohibited by this Act. Amends the Banking Act of 1933 to expand its prohibition against the transaction of banking activities by securities firms. Declares that Congress ratifies the interpretation by the Supreme Court of specified statutory language in the case of Investment Company Institute v. Camp ( ICI vs. Camp) regarding permissible activities of banks and securities firms. Declares that the reasoning of the Court in that case shall continue to apply to the limitations placed upon security affiliations under the FDIA as enacted by this Act. Prohibits a federal banking agency or federal court from issuing an interpretation regarding such security affiliations that is narrower than that of Court in ICI vs. Camp. Makes technical and conforming changes to the Gramm-Leach-Bliley Act, the Revised Statutes of the United States, and specified federal law. Requires the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, or another appropriate federal banking agency to report to Congress a detailed description of the basis for its decision each time it makes a determination or grants an extension concerning an affiliation between insured depository institutions and investment banks or securities firms.

return prudent banking act amends federal_deposit_insurance_act fdia prohibit insured depository institution affiliate broker dealer investment adviser investment company person entity engaged principally issue flotation underwriting public sale distribution stocks bonds debentures notes securities prohibits officers directors employees securities firms simultaneous service boards depository institutions specified circumstances requires individual serving officer director employee institution affiliated party insured depository institution terminate service soon practicable enactment act requires insured depository institution wind orderly manner terminate affiliation prohibited act amends banking act expand prohibition transaction banking activities securities firms declares congress ratifies interpretation supreme_court specified statutory language case camp ici camp permissible activities banks securities firms declares reasoning court case shall continue apply limitations placed security affiliations fdia enacted act prohibits federal banking agency federal court issuing interpretation security affiliations court ici camp makes technical conforming changes gramm leach bliley act revised_statutes united_states specified federal law requires board_of_governors federal_reserve_system comptroller currency appropriate federal banking agency report congress detailed description basis decision time makes determination grants extension concerning affiliation insured depository institutions investment banks securities firms


Summary: Minority Entrepreneurship and Business Development Act - Requires the Director of the Minority Small Business Development Agency (Agency) to make grants to an educational institution, association, or organization: (1) to assist in establishing an enterprise curriculum for studies; and (2) for placement of a Minority Business Enterprise Center within such institution, association, or organization. Requires an entity receiving a grant to: (1) develop a curriculum and capacity training requirement that includes training in various skill sets needed by successful entrepreneurs; and (2) open such a Center. Limits grants to $1.5 million per fiscal year, and grant duration to three years. Establishes within the Agency an Office of Minority Entrepreneurship and Business Development, administered by an Associate Director.

minority entrepreneurship business development act requires director agency grants educational institution association organization assist establishing enterprise curriculum studies placement institution association organization requires entity receiving grant develop curriculum capacity training requirement includes training skill sets needed successful entrepreneurs open center limits grants million fiscal year grant duration years establishes agency office minority entrepreneurship business development administered associate director


Summary: Banking Integrity Act of 2010 - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities. Prohibits the staff and personnel of corporations and partnerships (as well as any individual) primarily engaged in the issue, flotation, underwriting, public sale, or distribution, of stocks, bonds, or other similar securities, from serving simultaneously as an officer, director, or employee of any member bank of the Federal Reserve System. Authorizes the Board of Governors of the Federal Reserve System to grant limited exceptions. Prohibits a depository institution from engaging in the business of insurance or any insurance-related activity.

banking integrity act amends banking act glass steagall act prohibit member bank affiliated specified organizations engaged principally issue flotation underwriting public sale distribution stocks bonds debenture notes securities prohibits staff personnel corporations partnerships individual primarily engaged issue flotation underwriting public sale distribution stocks bonds similar securities serving simultaneously officer director employee member bank federal_reserve_system authorizes board_of_governors federal_reserve_system grant limited exceptions prohibits depository institution engaging business insurance insurance related activity


Summary: Extends through April 30, 2010, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through January 31, 2010, under the Small Business Act or the Small Business Investment Act of 1958.

extends april terms conditions authorization program authority provision including pilot program currently authorized january small business act small_business_investment_act


Summary: Financial Services Industry Stability Act of 2010 - Directs the Chairman of the Board of Governors of the Federal Reserve System to review all programs administered by the Board and utilize them in furtherance of this Act. Directs each federal department, agency, and independent establishment in the executive branch to utilize its authority to: (1) implement programs to promote transparency, simplicity, fairness, accountability, and equal access in the market for consumer financial products or services; and (2) take necessary steps to ensure that no financial company is able to pose a systemic risk to the health of the U.S. economy by becoming too large to fail. Requires the Board Chairperson to define the terms "systemic risk" and "too large to fail" and enumerate procedures that specify when and how the Chairperson and the head of any other federal department, agency, or independent executive branch establishment shall: (1) cause financial companies that are determined to be too large to fail to restructure in size and scope of operations so as not to pose a systemic risk to the health of the U.S. economy; and (2) impose increased capital reserve requirements upon any financial company which has been ordered to restructure. Requires the Chairperson to: (1) define criteria for causing the restructuring of financial companies; and (2) establish a fund composed of annual levies on financial companies to finance restructurings.

directs chairman board_of_governors federal_reserve_system review programs administered board utilize furtherance act directs federal department agency independent establishment executive branch utilize authority implement programs promote transparency fairness accountability equal access market consumer financial products services necessary steps ensure financial company able pose systemic risk health economy large fail requires board chairperson define terms systemic risk large fail enumerate procedures specify chairperson head federal department agency independent executive branch establishment shall cause financial companies determined large fail restructure size scope operations pose systemic risk health economy impose increased capital reserve requirements financial company ordered restructure requires chairperson define criteria causing restructuring financial companies establish fund composed annual levies financial companies finance


Summary: Small Business Innovation to Job Creation Act of 2010 - Authorizes the Administrator of the Small Business Administration (SBA) to make grants to small businesses to assist in the commercialization of research developed by such businesses with funds received under the second phase of the Small Business Innovation Research Program (a program under which a portion of a federal agency's research and development effort is reserved for award to small businesses).

small business innovation job creation act authorizes administrator small_business_administration sba grants small businesses assist commercialization research developed businesses funds received second phase program portion federal agency research development effort reserved award small businesses


Summary: Benefit Card Fairness Act of 2010 - Amends the Electronic Fund Transfer Act (EFTA) to extend its coverage to any account directly or indirectly established through a government agency to which electronic fund transfers (EFTs) are made by or on behalf of a government agency on a recurring basis (government payment account). Repeals the exemption from EFTA disclosure, protection, responsibility, and remedy requirements of electronic benefit transfer systems established by a federal, state, or local government agency for distributing needs-tested benefits, such as through automated teller machines (ATMs) or point-of-sale terminals. Requires a financial institution to offer a government payment account in compliance with this Act and with the requirements of the Federal Deposit Insurance Corporation (FDIC) for the provision of insurance to the consumer. Prescribes requirements for consumer choice in making an EFT to a government payment account, as well as for access to account balance and transaction history. Prohibits the assessment of specified fees on a government payment account, except certain transaction fees, a nominal fee of up to $1 for written periodic statements, and other permissible fees for specific services beyond ordinary use of the account. Requires a financial institution to make certain disclosures including: (1) the means to obtain account balance; (2) written account history; (3) fee information; and (4) error resolution.

benefit card fairness act amends electronic fund transfer act extend coverage account directly indirectly established government agency electronic fund transfers behalf government agency recurring basis government payment account repeals exemption disclosure protection responsibility remedy requirements electronic benefit transfer systems established federal state local government agency distributing needs tested benefits automated teller machines point sale terminals requires financial institution offer government payment account compliance act requirements federal_deposit_insurance_corporation fdic provision insurance consumer prescribes requirements consumer choice making eft government payment account access account balance transaction history prohibits assessment specified fees government payment account certain transaction fees nominal fee written periodic statements permissible fees specific services ordinary use account requires financial institution certain disclosures including means obtain account balance written account history fee information error resolution


Summary: Express Loans Improvements Act of 2009 - Amends provisions of the Small Business Act relating to the Express Loan Program (Program) to: (1) increase (for a two-year period) from 50% to 75% the maximum percentage of Program loans that may be guaranteed by the Small Business Administration (SBA); (2) make such percentage 60% after such two-year period; and (3) increase from $350,000 to $1 million the maximum Program loan amount. Directs the SBA Administrator to: (1) issue regulations with respect to Program loan and lender eligibility and collateral requirements that minimize federal risk of loss; and (2) report annually to the congressional small business committees describing Program implementation, including actions taken to reduce default rates.

express loans improvements act amends provisions small_business_act relating increase year period maximum percentage program loans guaranteed small_business_administration sba percentage year period increase million maximum program loan directs sba administrator issue regulations respect program loan lender eligibility collateral requirements minimize federal risk loss report annually congressional small business committees describing program implementation including actions taken reduce default rates


Summary: Small Business Reform Act of 2010 or Not Too Small to Succeed in Business Act of 2010 - Amends the Small Business Act to extend from: (1) 9 to 11 years the period that a small business may receive developmental assistance under the Minority Small Business and Capital Ownership Development Program (Program); and (2) five to seven years the period that such a small business may spend in the Program's transitional stage. Allows small businesses that previously completed the 9-year period, above, and whose current net worth exceeds $750,000 but is less than $2.25 million to participate for an additional two years. Sets net worth limits for individual Program participants at: (1) $750,000, for Program admission; (2) $2.25 million, for continued Program participation after admission; and (3) $500,000 adjusted gross income, for Program admission and continued eligibility. Provides that, if the Administrator of the Small Business Administration (SBA) graduated a small business from the Program prior to the date of enactment of this Act on the basis that the small business did not meet standards relating to economic disadvantage and the small business now meets such standards, the small business may participate in the Program for 11 years less any period of previous participation.

small business reform act small succeed business act amends small business act extend years period small business receive developmental assistance seven years period small business spend program transitional stage allows small businesses previously completed year period current net worth exceeds million participate additional years sets net worth limits individual program participants program admission million continued program participation admission adjusted gross income program admission continued eligibility provides administrator small_business_administration sba graduated small business program prior date enactment act basis small business meet standards relating economic disadvantage small business meets standards small business participate program years period previous participation


Summary: Amends the Federal Deposit Insurance Act to permanently extend the Transaction Amount Guarantee Program that fully insures the net amount any depositor at an insured depository institution maintains in a noninterest-bearing transaction account.

amends federal_deposit_insurance_act permanently extend fully insures net depositor insured depository institution maintains noninterest bearing transaction account


Summary: Faster Access and Shorter Transaction Time for Checks Act of 2010 or FASTT Checks Act - Amends the Expedited Funds Availability Act to provide for faster access to funds deposited in a receiving depository institution by doubling the amounts available for withdrawal at specified earliest times after deposit. Revises the next business day availability requirement for cash deposited in a new depositor account. Eliminates the exception from this rule (thus requiring next business day availability) for large deposits in large depository banks if a check: (1) has been truncated and cleared in accordance with the Check Clearing for the 21st Century Act; and (2) is received for payment or deposit at a depositary bank with total assets of $10 billion or more. Requires inflation adjustments every five years to dollar amounts under the Act. Treats Saturday as a business day in the calculation of any period within which funds deposited in an account at a receiving depository institution are required to be available.

shorter transaction time checks act checks act amends expedited funds availability act provide faster access funds deposited receiving depository institution doubling amounts available withdrawal specified earliest times deposit revises business day availability requirement cash deposited new depositor account eliminates exception rule requiring business day availability large deposits large depository banks check truncated cleared accordance 21st century act received payment deposit bank total assets billion requires inflation adjustments years dollar amounts act treats saturday business day calculation period funds deposited account receiving depository institution required available


Summary: Makes up to $40 million of funds appropriated for the business loan program of the Small Business Administration (SBA) under the Consolidated Appropriations Act, 2010 available for small business loan fee reductions and eliminations and the cost of guaranteed loans authorized under the American Recovery and Reinvestment Act of 2009 (ARRA). Amends ARRA to extend from March 28, 2010, through April 30, 2010, the authority of the SBA to guarantee up to 90% of qualifying small business loans made by eligible lenders under the Small Business Act or the Small Business Investment Act of 1958.

makes million funds appropriated business loan program small_business_administration sba consolidated appropriations act available small business loan fee reductions eliminations cost guaranteed loans authorized american_recovery_and_reinvestment_act arra amends arra extend march april authority sba guarantee qualifying small business loans eligible lenders small business act small_business_investment_act


Summary: Anti-Cash Smuggling Act of 2010 - Directs the Secretary of the Treasury to require reports concerning means of access to funds or the value of funds belonging or credited to a person, including electronic means and prepaid or stored cards (but not debit or credit cards). Requires such reports to be filed when a person: (1) transports, is about to transport, or has transported a means of access to funds or the value of funds from a place in the United States to or through a place outside the United States, or to a place in the United States from or through a place outside the United States; or (2) receives a means of access to funds or the value of funds transported into the United States from or through a place outside the United States. Authorizes either the Secretary of the Treasury or the Secretary of Homeland Security (DHS) to apply to a court for a search warrant upon a reasonable belief that: (1) a monetary instrument or a tangible mechanism that constitutes a means of access to funds or the value of funds is being transported; and (2) a required report has not been filed or contains a material omission or misstatement. Authorizes a customs officer to stop and search, at the border and without a search warrant, any vehicle, vessel, aircraft, or other conveyance, any envelope or other container, and any person entering or departing from the United States. Subjects violations of this Act to criminal and civil forfeiture. Revises penalties and procedures regarding smuggling of cash, monetary instruments, and means of access to funds or the value of funds into or out of the United States.

anti cash smuggling act directs secretary treasury require reports concerning means access funds value funds belonging credited person including electronic means prepaid stored cards debit credit cards requires reports filed person transports transport transported means access funds value funds place united_states place outside united_states place united_states place outside united_states receives means access funds value funds transported united_states place outside united_states authorizes secretary treasury secretary homeland_security dhs apply court search warrant reasonable belief monetary instrument tangible mechanism constitutes means access funds value funds transported required report filed contains material omission authorizes customs officer stop search border search warrant vehicle vessel aircraft conveyance envelope container person entering departing united_states subjects violations act criminal civil forfeiture revises penalties procedures smuggling cash monetary instruments means access funds value funds united_states


Summary: Stored Value Device Registration and Reporting Act of 2010 - Treats as a financial institution subject to federal regulation any person engaged in the business of issuing stored value devices or processing transactions related to such devices, including accessing information pertaining to the funds stored on a device, retrieving such funds, or adding funds to be stored on the device. Treats such stored value devices as monetary instruments. Prescribes procedures for mandatory registration of such devices with the Secretary of the Treasury. Subjects to a civil penalty noncompliance with such requirement Instructs the Secretary to: (1) prescribe regulations establishing a threshold point under which small stored value device businesses are exempt from such registration requirements; and (2) study and report to Congress on specified uses of such devices, including the extent to which they are used to provide payments related to drug trafficking and human trafficking or financial support to terror cells operating within the United States.

stored value device registration reporting act treats financial institution subject federal regulation person engaged business issuing stored value devices processing transactions related devices including accessing information pertaining funds stored device retrieving funds adding funds stored device treats stored value devices monetary instruments prescribes procedures mandatory registration devices secretary treasury subjects civil penalty noncompliance requirement instructs secretary prescribe regulations establishing threshold point small stored value device businesses exempt registration requirements study report congress specified uses devices including extent provide payments related drug trafficking human trafficking financial support terror cells operating united_states


Summary: Ponzi Scheme Victims' Tax Relief Act of 2010 - Amends the Internal Revenue Code to allow: (1) a special theft loss tax deduction for qualified fraudulent investment losses and for such losses in connection with assets held in an individual retirement account (IRA); (2) a carryback of net operating losses which are qualified fraudulent investment losses for up to 10 years; (3) withdrawals from tax-exempt retirement plans for a 10-year period without penalty to replace qualified fraudulent investment losses; (4) catch-up contributions to retirement plans to compensate for fraudulent investment losses; and (5) an extension of the limitation period for filing refund claims for overpayments of tax in connection with gifts and bequests of an interest in an investment for which there is a qualified fraudulent investment loss. Defines "qualified fraudulent investment loss" as a loss discovered in 2008 or 2009 resulting from a fraudulent arrangement in which a person receives cash or property from investors, purports to earn income for investors, reports partially or wholly fictitious income to such investors, makes payments to some investors from payments made by other investors, and appropriates some or all of the investors' cash or property.

scheme victims tax relief act amends internal revenue code allow special theft loss tax deduction qualified fraudulent investment losses losses connection assets held individual retirement account ira carryback net operating losses qualified fraudulent investment losses years withdrawals tax exempt retirement plans year period penalty replace qualified fraudulent investment losses catch contributions retirement plans compensate fraudulent investment losses extension limitation period filing refund claims overpayments tax connection gifts bequests interest investment qualified fraudulent investment loss defines qualified fraudulent investment loss loss discovered resulting fraudulent arrangement person receives cash property investors purports earn income investors reports partially wholly fictitious income investors makes payments investors payments investors appropriates investors cash property


Summary: Stored Value Device Registration and Reporting Act of 2010 - Treats as a financial institution subject to federal regulation any person engaged in the business of providing stored value services, including a stored value system operator, an issuer of stored value, a seller of stored value, and a redeemer of stored value. Requires a stored value system operator to register with the Secretary of the Treasury each stored value program that such person authorizes to function on such stored value system. Prescribes mandatory registration procedures. Subjects noncompliance with this Act to civil penalty and forfeiture. Instructs the Secretary to prescribe regulations establishing a threshold point under which small and low-risk stored value device businesses are exempt from such registration requirements. Sets forth report filing and content requirements for persons, agents, or bailees who knowingly transport or receive specified monetary instruments, stored value, or a combination of monetary instruments and stored value, of more than $10,000 at one time, or reportable stored value devices at one time, that cross U.S. boundaries. Authorizes the Secretary of the Treasury or the Secretary of Homeland Security to apply for a search warrant when such Secretary reasonably believes a monetary instrument, stored value, or a reportable stored value device is being transported and a mandatory report on the instrument or device has not been filed or contains a material omission or misstatement. States that smuggling of cash, monetary instruments, stored value, and stored value devices into or out of the United States is a currency smuggling offense subject to imprisonment and forfeiture of the property involved in the offense and possible personal money judgment. Instructs the Secretary of the Treasury to study and report to Congress on specified uses of stored value devices, including the extent to which they are used to provide payments related to drug trafficking, human trafficking, or financial support to terror cells operating within the United States.

stored value device registration reporting act treats financial institution subject federal regulation person engaged business providing stored value services including stored value system operator issuer stored value seller stored value stored value requires stored value system operator register secretary treasury stored value program person authorizes function stored value system prescribes mandatory registration procedures subjects noncompliance act civil penalty forfeiture instructs secretary prescribe regulations establishing threshold point small low risk stored value device businesses exempt registration requirements sets forth report filing content requirements persons agents knowingly transport receive specified monetary instruments stored value combination monetary instruments stored value time reportable stored value devices time cross boundaries authorizes secretary treasury secretary homeland_security apply search warrant secretary reasonably believes monetary instrument stored value reportable stored value device transported mandatory report instrument device filed contains material omission states smuggling cash monetary instruments stored value stored value devices united_states currency smuggling offense subject imprisonment forfeiture property involved offense possible personal money judgment instructs secretary treasury study report congress specified uses stored value devices including extent provide payments related drug trafficking human trafficking financial support terror cells operating united_states


Summary: Safe, Accountable, Fair, and Efficient Banking Act of 2010 or the SAFE Banking Act of 2010 - Amends the Bank Holding Company Act of 1956 to prohibit a bank holding company from holding more than 10% of the total amount of deposits of insured depository institutions in the United States. Directs the Board of Governors of the Federal Reserve System to require any bank holding company having a deposit concentration in violation of this Act to sell or transfer assets to unaffiliated firms to bring the company into compliance with this Act. Prescribes minimum leverage ratios (6% of average total consolidated assets) and balance sheet leverage ratios (6% of tier 1 capital for all outstanding balance sheet liabilities) for tier 1 capital maintained by a bank holding company or financial company. Authorizes the Board and other federal regulators to grant an emergency temporary exemption from such ratio requirements where necessary to prevent an imminent threat to the financial stability of the United States. Directs the Board to: (1) establish a leverage ratio and a balance sheet leverage ratio for all operating subsidiaries of bank holding companies and financial companies; and (2) require a noncompliant bank holding company or financial company to raise capital, sell, or otherwise transfer assets or off-balance sheet items to unaffiliated firms (prompt corrective action). Prohibits a bank holding company from possessing nondeposit liabilities exceeding 2% percent of the annual gross domestic product (GDP) of the United States. Authorizes the Board to: (1) set a separate liability limit for certain bank holding companies primarily engaged in the business of insurance; and (2) exclude specified deposits from its calculation of nondeposit liabilities if necessary to ensure consistent and equitable treatment of institutions with international operations. Prohibits a financial company from possessing nondeposit liabilities exceeding 3% of the U.S. annual GDP. Requires the Board to conduct, and report to Congress on, an annual capital assessment to estimate losses, revenues, and reserve needs for bank holding companies and financial companies. Amends the Securities Exchange Act of 1934 to instruct the Securities and Exchange Commission (SEC) to issue a rule requiring certain issuers of securities to record all assets and liabilities on their balance sheets and all financings of assets for which the issuer has more than minimal economic risks or rewards.

safe accountable fair safe banking act amends bank_holding_company_act prohibit bank holding company holding total deposits insured depository institutions united_states directs board_of_governors federal_reserve_system require bank holding company having deposit concentration violation act sell transfer assets unaffiliated firms bring company compliance act prescribes minimum leverage ratios average total consolidated assets balance sheet leverage ratios tier capital outstanding balance sheet liabilities tier capital maintained bank holding company financial company authorizes board federal regulators grant emergency temporary exemption ratio requirements necessary prevent imminent threat financial stability united_states directs board establish leverage ratio balance sheet leverage ratio operating subsidiaries bank holding companies financial companies require noncompliant bank holding company financial company raise capital sell transfer assets balance sheet items unaffiliated firms prompt corrective action prohibits bank holding company possessing nondeposit liabilities exceeding percent annual gross domestic product gdp united_states authorizes board set separate liability limit certain bank holding companies primarily engaged business insurance exclude specified deposits calculation nondeposit liabilities necessary ensure consistent equitable treatment institutions international operations prohibits financial company possessing nondeposit liabilities exceeding annual gdp requires board conduct report congress annual capital assessment estimate losses revenues reserve needs bank holding companies financial companies amends securities_exchange_act instruct securities_and_exchange_commission sec issue rule requiring certain issuers securities record assets liabilities balance sheets financings assets issuer minimal economic risks rewards


Summary: Capital Access for Main Street Act of 2010 - Authorizes an insured depository institution with assets of less than $10 billion, for purposes of capital calculation under the Financial Institutions Examination Council's Consolidated Reports of Condition and Income, to choose to amortize any loss or write-down, on a quarterly straight-line basis over a seven-year period, which it has incurred with respect to: (1) a loan secured by commercial real estate; or (2) other real estate owned.

main street act authorizes insured depository institution assets billion purposes capital calculation financial institutions examination council choose amortize loss write quarterly straight line basis seven year period incurred respect loan secured commercial real estate real estate owned


Summary: Small Business Lending Incentive Program Act of 2010 - Amends the Internal Revenue Code to allow certain small banks a business-related tax credit for 1% of the total amount of loans made to small business concerns. Limits the amount of any such small business loan to $500,000, and limits to 20 the number of such loans a bank may include in the calculation of its credit in any taxable year. Terminates such credit two years after the enactment of this Act.

small business lending incentive program act amends internal revenue code allow certain small banks business related tax credit total loans small business concerns limits small business loan limits number loans bank include calculation credit taxable year terminates credit years enactment act