Summary: Prohibits the Secretary of the Treasury from requiring a payor of interest to file an information return on interest that is not effectively connected with a trade or business within the United States and that is paid to a nonresident alien on a deposit maintained at an office within the United States.

prohibits secretary treasury requiring payor interest file information return interest effectively connected trade business united_states paid nonresident alien deposit maintained office united_states


Summary: (Sec. 1) Amends the Commodity Exchange Act (CEA), as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), to exclude from the meaning of the term "swap," for purposes of clearing and execution requirements, capital and margin requirements, and for purposes of defining a swap dealer or major swap participant, any agreement, contract, or transaction that: (1) would otherwise be included as a "swap"; and (2) is entered into by parties that report information or prepare financial statements on a consolidated basis, or for which a company affiliated with both parties reports information or prepares financial statements on a consolidated basis. Requires that such exempted agreements, contracts, or transactions be reported to either a swap data repository, or, if no such repository would accept them, to the Commodity Futures Trading Commission (CFTC) within the time period prescribed by the CFTC. Retains federal or state regulatory authority to protect the integrity of an insurance fund or guaranty fund. Prohibits the regulator of such a fund, however, from subjecting agreements, contracts, or transactions between affiliated companies to specified clearing, capital and margin requirements, or reporting requirements of the Wall Street Transparency and Accountability Act of 2010 (WSTAA) (title VII of Dodd-Frank). States that such transactions, however, are not exempt from regulation under the Federal Reserve Act (FRA) with respect to transactions among banking affiliates. Preserves the safety-and-soundness authorities of the federal banking agencies, other than the authorities set forth in WSTAA. Authorizes the CFTC to prescribe rules that include in the definition of swaps any agreement, contract, or transaction that has been structured to evade CEA requirements applicable to swaps. Amends the Securities Exchange Act of 1934 (SEA), as amended by Dodd-Frank, to exclude from the meaning of the term "security-based swap," for purposes of clearing and execution requirements, capital and margin requirements, and for purposes of defining a security-based swap dealer or major security-based swap participant, any agreement, contract, or transaction that: (1) would otherwise be included as a "security-based swap"; and (2) is entered into by parties that report information or prepare financial statements on a consolidated basis, or for which a company affiliated with both parties reports information or prepares financial statements on a consolidated basis. Requires that such exempted agreements, contracts, or transactions be reported to either a security-based swap data repository, or, if no such repository would accept them, to the Securities and Exchange Commission (SEC) within the time period prescribed by the SEC. States that such transactions, however, are not exempt from regulation under the FRA with respect to transactions among banking affiliates. Retains federal or state regulatory authority to protect the integrity of an insurance fund or guaranty fund. Prohibits the regulator of such a fund, however, from subjecting security-based swap transactions between affiliated companies to specified clearing and execution requirements, capital and margin requirements, or reporting requirements of the WSTAA. Preserves the safety-and-soundness authorities of the federal banking agencies or state insurance regulators to impose capital requirements with regard to security-based swaps, other than the authorities set forth in WSTAA. Authorizes the SEC to prescribe rules that include in the definition of security-based swaps any agreement, contract, or transaction that has been structured to evade SEA requirements applicable to security-based swaps. (Sec. 2) Requires that the amendments to CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued. Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to CEA made by this Act.

sec amends commodity_exchange_act cea amended dodd frank wall street reform consumer protection act dodd-frank exclude meaning term swap purposes clearing execution requirements capital margin requirements purposes defining swap dealer major swap participant agreement contract transaction included swap entered parties report information prepare financial statements consolidated basis company affiliated parties reports information prepares financial statements consolidated basis requires exempted agreements contracts transactions reported swap data repository repository accept commodity_futures_trading_commission cftc time period prescribed cftc retains federal state regulatory authority protect integrity insurance fund guaranty fund prohibits regulator fund subjecting agreements contracts transactions affiliated companies specified clearing capital margin requirements reporting requirements accountability act title vii dodd-frank states transactions exempt regulation federal reserve act fra respect transactions banking affiliates preserves safety soundness authorities federal banking agencies authorities set forth authorizes cftc prescribe rules include definition swaps agreement contract transaction structured evade cea requirements applicable swaps amends securities_exchange_act sea amended dodd-frank exclude meaning term security based swap purposes clearing execution requirements capital margin requirements purposes defining security based swap dealer major security based swap participant agreement contract transaction included security based swap entered parties report information prepare financial statements consolidated basis company affiliated parties reports information prepares financial statements consolidated basis requires exempted agreements contracts transactions reported security based swap data repository repository accept securities_and_exchange_commission sec time period prescribed sec states transactions exempt regulation fra respect transactions banking affiliates retains federal state regulatory authority protect integrity insurance fund guaranty fund prohibits regulator fund subjecting security based swap transactions affiliated companies specified clearing execution requirements capital margin requirements reporting requirements preserves safety soundness authorities federal banking agencies state insurance regulators impose capital requirements regard security based swaps authorities set forth authorizes sec prescribe rules include definition security based swaps agreement contract transaction structured evade sea requirements applicable security based swaps sec requires amendments cea act implemented regard federal information policy requirements notice comment requirements federal administrative procedure promulgation interim final rule pursuant public comment sought final rule issued limits disregard federal information policy notice comment requirements solely changes rules regulations proposed rule regulations limited directly consequence amendments cea act


Summary: Amends the Internal Revenue Code, with respect to personal holding company rules, to repeal certain exceptions to the treatment of consolidated groups of corporations under such rules.

amends internal revenue code respect personal holding company rules repeal certain exceptions treatment consolidated groups corporations rules


Summary: Freedom and Mobility in Consumer Banking Act - Amends the Federal Deposit Insurance Act (FDIA) to prohibit an insured depository institution from: (1) prohibiting any person from closing a checking or savings account, regardless of its balance; or (2) charging a fee to close such an account. Requires a depository institution to close an account within 48 hours after receiving a request from the customer to do so. Permits an account holder to request that the account be closed in person, over the phone, or by other electronic or remote means, as may be prescribed by regulation. Sets forth financial institution procedures for closing large accounts and repaying balances, as well as notice and opportunity for accountholder repayment of overdrafts. Prohibits a depository institution from: (1) imposing fees or charges after receiving a request to close an account, or (2) reopening an account without express account holder request.

freedom mobility consumer banking act amends federal_deposit_insurance_act fdia prohibit insured depository institution prohibiting person closing checking savings account regardless balance charging fee close account requires depository institution close account hours receiving request customer permits account holder request account closed person phone electronic remote means prescribed regulation sets forth financial institution procedures closing large accounts repaying balances notice opportunity repayment prohibits depository institution imposing fees charges receiving request close account reopening account express account holder request


Summary: Small Business Lending Extension Act - Amends the Small Business Jobs Act of 2010 to extend, for an additional year, the authority of the Secretary of the Treasury under the Small Business Lending Fund Program to make capital investments in eligible institutions (eligible insured depository institutions, bank holding companies, and savings and loan companies) in order to increase the availability of credit for small businesses. (Current law terminates such authority one year after enactment of such Act.) Requires the Secretary to: (1) supply an institution whose application to receive a capital investment from the Fund is rejected with the reason for such rejection, (2) establish an appeal process, and (3) issue regulations allowing a rejected institution to reapply for such an investment.

small business lending extension act amends small business jobs act extend additional year authority secretary treasury small_business_lending_fund_program capital investments eligible institutions eligible insured depository institutions bank holding companies savings loan companies order increase availability credit small businesses current law terminates authority year enactment act requires secretary supply institution application receive capital investment fund rejected reason rejection establish appeal process issue regulations allowing rejected institution reapply investment


Summary: Consumer Debit Card Protection Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the authority granted the Consumer Financial Protection Board (CFPB) to prescribe regulations for interchange transaction (swipe) fees that an issuer may receive or charge in connection with an electronic debit transaction (EDT). Declares void, and without force or effect, any regulation or information collection which the Board of Governors of the Federal Reserve System (Board) may propose or prescribe pursuant to the Electronic Fund Transfer Act (EFTA). Makes conforming amendments to EFTA.

consumer debit card protection act amends dodd frank wall street reform consumer protection act repeal authority granted cfpb prescribe regulations interchange transaction fees issuer receive charge connection electronic debit transaction declares void force effect regulation information collection board_of_governors federal_reserve_system board propose prescribe pursuant electronic fund transfer act makes conforming amendments


Summary: Amends the Federal Deposit Insurance Act to prohibit an insured depository institution from charging a fee to any consumer for receiving or using a debit card. Subjects violators of such prohibition to civil liability for: (1) actual damages sustained by the consumer of between $100 and $1,000, (2) such punitive damages as the court may allow, and (3) the costs of a successful action together with reasonable attorney's fees to enforce liability.

amends federal_deposit_insurance_act prohibit insured depository institution charging fee consumer receiving debit card subjects violators prohibition civil liability actual damages sustained consumer punitive damages court allow costs successful action reasonable attorney fees enforce liability


Summary: Amends the Federal Reserve Act to replace the Federal Open Market Committee members representing the Federal Reserve banks with additional members appointed by the President, who shall give due regard to a fair representation of the financial, agricultural, industrial, commercial, consumer, and labor interests, and geographical diversity, of the United States.

amends federal_reserve_act replace federal_open_market_committee members representing federal_reserve banks additional members appointed president shall regard fair representation financial agricultural industrial commercial consumer labor interests geographical diversity united_states


Summary: Financial Institutions Examination Fairness and Reform Act - Amends the Federal Financial Institutions Examination Council Act of 1978 to require a federal financial institutions regulatory agency to make a final examination report to a financial institution within 60 days of the later of: (1) the exit interview for an examination of the institution, or (2) the provision of additional information by the institution relating to the examination. Sets a deadline for the exit interview if a financial institution is not subject to a resident examiner program. Sets forth examination standards for financial institutions. Prohibits federal financial institutions regulatory agencies from requiring a well capitalized financial institution to raise additional capital in lieu of an action prohibited by the examination standards. Establishes in the Federal Financial Institutions Examination Council an Office of Examination Ombudsman. Grants a financial institution the right to appeal a material supervisory determination contained in a final report of examination. Requires the Ombudsman to determine the merits of the appeal on the record, after an opportunity for a hearing before an independent administrative law judge. Declares the decision by the Ombudsman on an appeal to: (1) be the final agency action, and (2) bind the agency whose supervisory determination was the subject of the appeal and the financial institution making the appeal. Amends the Riegle Community Development and Regulatory Improvement Act of 1994 to require: (1) the Consumer Financial Protection Bureau (CFPB) to establish an independent intra-agency appellate process in connection with the regulatory appeals process; and (2) appropriate safeguards to protect an insured depository institution or insured credit union from retaliation by the CFPB, the National Credit Union Administration (NCUA) Board, or any other federal banking agency for exercising its rights.

financial institutions examination fairness reform_act_-_amends federal financial institutions examination council act require federal financial institutions regulatory agency final examination report financial institution days later exit interview examination institution provision additional information institution relating examination sets deadline exit interview financial institution subject resident examiner program sets forth examination standards financial institutions prohibits federal financial institutions regulatory agencies requiring capitalized financial institution raise additional capital lieu action prohibited examination standards establishes grants financial institution right appeal material supervisory determination contained final report examination requires ombudsman determine merits appeal record opportunity hearing independent administrative law judge declares decision ombudsman appeal final agency action bind agency supervisory determination subject appeal financial institution making appeal amends riegle_community_development_and_regulatory_improvement_act require consumer_financial_protection_bureau cfpb establish independent intra agency appellate process connection regulatory appeals process appropriate safeguards protect insured depository institution insured credit union retaliation cfpb national_credit_union_administration ncua board federal banking agency exercising rights


Summary: Security in Bonding Act of 2012 - Revises requirements related to assets pledged by a surety. Declares that if another applicable law or regulation permits the acceptance of a bond from a surety that is not subject to specified federal law, and is based on a pledge of assets by the surety, the assets pledged by such surety shall: (1) consist of eligible obligations given as security instead of surety bonds; and (2) be submitted to the government official required to approve or accept the bond, who shall deposit the assets with a depository (the Secretary of the Treasury, a federal reserve bank, or a depository designated by the Secretary). Requires the Comptroller General to study: (1) all instances during the 10-year period before the enactment of this Act in which a surety bond proposed or issued by a surety in connection with a federal project was rejected by a federal contracting officer, or accepted but was later found to have been backed by insufficient collateral or to be otherwise deficient or with respect to which the surety did not perform; (2) the consequences to the federal government, subcontractors, and suppliers of such instances, and (3) the percentages of all federal contracts that were awarded to small disadvantaged businesses and disadvantaged business enterprises as prime contractors in the two-year period before and after the enactment of this Act, and an assessment of its impact upon such percentages.

security bonding act revises requirements related assets pledged surety declares applicable law regulation permits acceptance bond surety subject specified federal law based pledge assets surety assets pledged surety shall consist eligible obligations given security instead surety bonds submitted government official required approve accept bond shall deposit assets depository secretary treasury federal reserve bank depository designated secretary requires comptroller general study instances year period enactment act surety bond proposed issued surety connection federal project rejected federal contracting officer accepted later found backed insufficient collateral deficient respect surety perform consequences federal government subcontractors suppliers instances percentages federal contracts awarded small disadvantaged businesses disadvantaged business enterprises prime contractors year period enactment act assessment impact percentages


Summary: Amends the Internal Revenue Code to classify as an administrative expense for purposes of the Federal Unemployment Tax Act (FUTA) fees in connection with the use of electronic benefit transfer debit cards, thus prohibiting a state from deducting such fees from unemployment compensation payments made with state unemployment tax funds.

amends internal revenue code classify administrative expense purposes federal unemployment tax act futa fees connection use electronic benefit transfer debit cards prohibiting state deducting fees unemployment compensation payments state unemployment tax funds


Summary: Faith-Based Lending Protection Act - Amends the Federal Credit Union Act to exempt loans made to nonprofit religious organizations from the limitations on the volume of loans credit unions can make to businesses.

federal_credit_union_act exempt loans nonprofit religious organizations limitations volume loans credit unions businesses


Summary: Narrowing Exceptions for Withholding Taxes Act of 2012 - Amends the Internal Revenue Code and title II (Old-Age, Survivors, and Disability Insurance Benefits) of the Social Security Act to require a shareholder of a subchapter S corporation engaged in a professional service business to include all items of income or loss attributable to such business in determining such shareholder's net earnings from self-employment for purposes of computing employment tax liability. Defines a "professional service business" as any trade or business substantially all of the activities of which involve providing services in the fields of health, law, lobbying, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, investment advice or management, or brokerage services.

exceptions withholding taxes act amends internal revenue code title old age survivors disability_insurance benefits social security act require shareholder subchapter corporation engaged professional service business include items income loss attributable business determining shareholder net earnings self employment purposes computing employment tax liability defines professional service business trade business substantially activities involve providing services fields health law lobbying engineering architecture accounting actuarial science performing arts consulting athletics investment advice management brokerage services


Summary: Capital Access for Small Businesses and Jobs Act - Amends the Federal Credit Union Act to empower federal credit unions to receive payments, representing equity, on certain uninsured non-share capital accounts, subject to such terms, rates, and conditions as may be established by the board of directors, within limitations prescribed by the National Credit Union Administration Board (Board). Requires any system of prompt corrective action for insured credit unions that the Board prescribes to take into account that credit unions rely predominantly upon retained earnings to build net worth. (Currently, insured credit unions must rely upon retained earnings to build net worth.) Redefines "net worth" with respect to any insured credit union (other than a low-income credit union) to include non-share capital accounts, as authorized by the Board, that: (1) do not alter the cooperative nature of the credit union; (2) are uninsured; (3) are subordinate to all other claims against the credit union, including the claims of creditors, shareholders, and the National Credit Union Share Insurance Fund; (4) are available to be applied to cover operating losses of the credit union in excess of its retained earnings and, to the extent so applied, will not be replenished; (5) are subject to maturity limits as determined by the Board; and (6) are offered by a credit union that is sufficiently capitalized and well-managed.

jobs_act_-_amends federal_credit_union_act empower federal credit unions receive payments representing equity certain uninsured non share capital accounts subject terms rates conditions established board directors limitations prescribed requires system prompt corrective action insured credit unions board prescribes account credit unions rely predominantly retained earnings build net worth currently insured credit unions rely retained earnings build net worth redefines net worth respect insured credit union low income credit union include non share capital accounts authorized board alter cooperative nature credit union uninsured subordinate claims credit union including claims creditors shareholders national_credit_union_share_insurance_fund available applied cover operating losses credit union excess retained earnings extent applied subject maturity limits determined board offered credit union sufficiently capitalized managed


Summary: Amends the Federal Deposit Insurance Act to make the Consumer Financial Protection Bureau (CFPB) a "covered agency" that may share information with another covered agency or any other federal agency without waiving any privilege applicable to the information. Prohibits information submitted to the CFPB in the course of its supervisory or regulatory process from being construed as waiving, destroying, or affecting any privilege that may be claimed with respect to such information under federal or state law as to any person or entity other than the CFPB, another federal banking agency, a state bank supervisor, or a foreign banking authority.

amends federal_deposit_insurance_act consumer_financial_protection_bureau cfpb covered agency share information covered agency federal agency waiving privilege applicable information prohibits information submitted cfpb course supervisory regulatory process construed waiving destroying affecting privilege claimed respect information federal state law person entity cfpb federal banking agency state bank supervisor foreign banking authority


Summary: Common Sense Economic Recovery Act of 2012 - Cites circumstances under which, for purposes of determining capital requirements or measuring an insured depository institution's capital, such an institution may treat a non-accrual loan as an accrual loan. (Non-accrual [also known as non-performing or doubtful] loans are those on which interest is overdue and full collection of principal is uncertain, and so interest, if it has not been paid in over 90 days, cannot be credited to the bank's revenue account until it has actually been received.) Permits an insured depository institution to treat a non-accrual loan as an accrual loan if: (1) the loan is current, (2) no monthly payment has been more than 30 days delinquent during the previous 6-month period, and (3) loan payments are being made pursuant to the contract terms and all parties agree to any refinances and modifications. Prohibits a modified or restructured loan from being treated as a non-accrual loan if the borrower demonstrates the ability to perform on such a loan: (1) over a period of 6 months; or (2) over a period of 3 consecutive payments in the case of a quarterly, semi-annual, or longer repayment schedule. Prohibits the appropriate federal banking agency from: (1) imposing any additional accounting requirements upon an insured depository institution with respect to a loan treated as an accrual loan under this Act if the result of such requirement would adversely impact measurement of the institution's capital, or (2) requiring an insured depository institution to treat a loan as a non-accrual loan solely because the loan collateral has reduced in value. Excludes from the accounting requirements and prohibitions of this Act any issuer of a security registered under the Securities Exchange Act of 1934. Directs the Financial Stability Oversight Council to study how best to prevent the issuance of contradictory guidance to such institutions by federal banking agencies with respect to loan classifications and capital requirements.

common sense economic recovery act cites circumstances purposes determining capital requirements measuring insured depository institution capital institution treat non accrual loan accrual loan non accrual known non performing doubtful loans interest overdue collection principal uncertain interest paid days credited bank revenue account actually received permits insured depository institution treat non accrual loan accrual loan loan current monthly payment days delinquent previous month period loan payments pursuant contract terms parties agree refinances modifications prohibits modified restructured loan treated non accrual loan borrower demonstrates ability perform loan period months period consecutive payments case quarterly semi annual longer repayment schedule prohibits appropriate federal banking agency imposing additional accounting requirements insured depository institution respect loan treated accrual loan act result requirement adversely impact measurement institution capital requiring insured depository institution treat loan non accrual loan solely loan collateral reduced value excludes accounting requirements prohibitions act issuer security registered securities exchange act directs financial_stability_oversight_council study best prevent issuance guidance institutions federal banking agencies respect loan classifications capital requirements


Summary: Credit Union Small Business Lending Act - Directs the Administrator of the Small Business Administration (SBA) to establish a dedicated process by which credit unions participating in a certain small business loan program may receive approvals and repurchases concerning program loan guarantees. Requires such process to: (1) be distinct from that used by participating non-credit unions, and (2) make use of existing agency resources. Amends the Small Business Act to direct the SBA Administrator to implement a program to: (1) provide outreach and assistance to credit unions to increase their participation in the SBA small business loan program, (2) simplify the application process for such participation, and (3) provide a guaranty of up to 85% for loans made by credit unions to their members in underserved areas.

lending act directs administrator small_business_administration sba establish dedicated process credit unions participating certain small business loan program receive approvals concerning program loan guarantees requires process distinct participating non credit unions use existing agency resources amends small_business_act direct sba administrator implement program provide outreach assistance credit unions increase participation sba small business loan program simplify application process participation provide guaranty loans credit unions members underserved areas


Summary: Mutual Community Bank Competitive Equality Act - Amends the Revised Statutes of the United States to authorize the Comptroller of the Currency to charter mutual national banks either de novo or through a conversion of any insured depository institution or any state mutual bank or credit union. Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue Mutual Investment Certificates, to be included as Tier 1 capital for purposes of any capital standards issued by an appropriate federal banking agency. Amends the Home Owners' Loan Act to: (1) prohibit any company or subsidiary, or any director, officer, employee, or person with voting power or holding proxies representing more than 25% of the voting shares of such company or subsidiary, from holding, soliciting, or exercising any proxies in respect of a mutual savings association with the intention to to control the association; and (2) allow an aggrieved association to bring a civil action to prevent such takeover attempts. Prohibits any company, subsidiary, director, officer, employee, or person owning, controlling, or holding with the power to vote, or holding proxies representing more than 25% of the voting shares of such a company or subsidiary, to hold, solicit, or exercise any proxies in respect of a mutual savings association with the view or intention to controlling or attempting to control it directly or indirectly. Prescribes conditions under which a mutual holding company or its stock subsidiary may: (1) contribute stock to a charitable foundation either the company or the stock subsidiary establishes, and (2) waive the right to receive any dividend declared by one of its subsidiaries. Requires the Board of Governors of the Federal Reserve to apply its Small Bank Holding Company Policy Statement to any mutual holding company that would otherwise qualify as a small bank holding company, if it were one.

united_states authorize comptroller currency charter mutual national banks novo conversion insured depository institution state mutual bank credit union amends federal_deposit_insurance_act authorize mutual depository issue mutual investment certificates included tier capital purposes capital standards issued appropriate federal banking agency amends prohibit company subsidiary director officer employee person voting power holding proxies representing voting shares company subsidiary holding soliciting exercising proxies respect mutual savings association intention control association allow aggrieved association bring civil action prevent takeover attempts prohibits company subsidiary director officer employee person owning controlling holding power vote holding proxies representing voting shares company subsidiary hold solicit exercise proxies respect mutual savings association view intention controlling attempting control directly indirectly prescribes conditions mutual holding company stock subsidiary contribute stock charitable foundation company stock subsidiary establishes waive right receive dividend declared subsidiaries requires board_of_governors federal_reserve apply small_bank_holding_company_policy_statement mutual holding company qualify small bank holding company


Summary: Restore Main Street's Credit Act of 2012 - Amends the Federal Credit Union Act to exclude from the definition of "member business loan" (and related loan limits) an extension of credit made to a Main Street business (an organization, other than a nonprofit organization, with 20 or fewer full-time employees that possesses, occupies, or leases property other than a home for its business's operations). Instructs the National Credit Union Administration Board (NCUAB) to issue guidelines for extensions of credit made by an insured credit union to a Main Street business in order to promote: (1) appropriate levels of such extensions within the credit union's total lending portfolio, and (2) the credit union's cooperative nature and its safety and soundness.

amends federal_credit_union_act exclude definition member business loan related loan limits extension credit main street business organization nonprofit organization fewer time employees possesses occupies leases property home business operations instructs national_credit_union_administration_board issue guidelines extensions credit insured credit union main street business order promote appropriate levels extensions credit union total lending portfolio credit union cooperative nature safety soundness


Summary: Export-Import Bank Reauthorization Act of 2012 - Amends the Export-Import Bank Act of 1945 to extend the termination of functions date for the Export-Import Bank of the United States to September 30, 2015. Eliminates the provision directing the Bank to urge the Foreign Credit Insurance Association to provide 100% coverage against any export loss valued at less than $100,000. Revises the list of Marxist-Leninist countries ineligible for Bank assistance. Extends through September 30, 2015: (1) the termination date of the Sub-Saharan Africa advisory committee, and (2) Bank authority to provide financing for the export of nonlethal defense articles and defense services whose primary end use is for civilian purposes. Extends and specifies aggregate outstanding loan, guarantee, and insurance authority through FY2015. Provides for textile industry representation on the Bank Advisory Committee. Requires the Bank to: (1) review its domestic content policy for medium- and long-term transactions; (2) include in its annual report to Congress, at least every every four years beginning in 2012, a five-year strategic plan; and (3) review and report to Congress regarding the Bank's information technology infrastructure. Urges the Bank to increase the export of renewable energy technologies and end-use energy efficiency technologies. Provides for increased Bank transparency and accountability. Prohibits Bank financing for persons that engage in certain sanctionable activities with respect to Iran.

export-import_bank reauthorization act amends export-import_bank_act extend termination functions date september eliminates provision directing bank urge provide coverage export loss valued revises list countries ineligible bank assistance extends september termination date sub saharan africa advisory committee bank authority provide financing export nonlethal defense articles defense services primary end use civilian purposes extends specifies aggregate outstanding loan guarantee insurance authority fy2015 provides textile industry representation requires bank review domestic content policy medium- long term transactions include annual report congress years beginning year strategic plan review report congress bank information technology infrastructure urges bank increase export renewable energy technologies end use energy efficiency technologies provides increased bank transparency accountability financing persons engage certain sanctionable activities respect iran


Summary: Amends the Electronic Fund Transfer Act with respect to mandatory fee disclosures on automated teller machines (ATMs) operated by a person other than a financial institution holding a consumer's account. Repeals the requirement that such a fee disclosure appear in a prominent and conspicuous location on or at the ATM. Limits such requirement to appearance of a fee disclosure on the ATM screen.

amends electronic fund transfer act respect mandatory fee disclosures automated teller machines operated person financial institution holding consumer account repeals requirement fee disclosure appear prominent conspicuous location atm limits requirement appearance fee disclosure atm screen


Summary: National Financial Literacy Act of 2012 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods. Authorizes a federal financial supervisory agency to take an institution's direct support of a qualified community-based financial literacy program into account when it assesses the institution's record of meeting the community's credit needs. Amends the Internal Revenue Code to allow a tax credit to small businesses for 35% of the expenses paid or incurred for providing qualified continuing financial education to their employees. Requires that preference in federal contracts, loans, and other financial or nonfinancial assistance for small businesses and corporations be given to those providing continuing financial education to their employees.

amends community reinvestment act require federal financial supervisory agencies jointly prescribe regulations establishing minimum standards met community based financial literacy program order eligible consideration qualified community based financial literacy program procedures financial institutions apply federal financial supervisory agency approval program requirement financial institutions submit regular report institution supported promoted financial literacy entire community including low- moderate income neighborhoods authorizes federal financial supervisory agency institution direct support qualified community based financial literacy program account assesses institution record meeting community credit needs amends internal revenue code allow tax credit small businesses expenses paid incurred providing qualified continuing financial education employees requires preference federal contracts loans financial nonfinancial assistance small businesses corporations given providing continuing financial education employees


Summary: Too Big to Fail, Too Big to Exist Act - Instructs the Secretary of the Treasury to: (1) submit to Congress, within 90 days after enactment of this Act, a list of all commercial banks, investment banks, hedge funds, and insurance companies that the Secretary believes are too big to fail ("Too Big To Fail List"); and (2) break up entities on the list so that their failure would no longer cause a catastrophic effect on the U.S. or global economy without a taxpayer bailout.

big fail big exist act instructs secretary treasury submit congress days enactment act list commercial banks investment banks hedge funds insurance companies secretary believes big fail big fail list break entities list failure longer cause catastrophic effect global economy taxpayer bailout


Summary: Export-Import Bank Reauthorization Act of 2012 - Amends the Export-Import Bank Act of 1945 to extend the termination of functions date for the Export-Import Bank of the United States to September 30, 2021. Eliminates the provision directing the Bank to urge the Foreign Credit Insurance Association to provide 100% coverage against any export loss valued at less than $100,000. Revises the list of Marxist-Leninist countries ineligible for Bank assistance. Extends through September 30, 2021: (1) the termination date of the Sub-Saharan Africa advisory committee, and (2) Bank authority to provide financing for the export of nonlethal defense articles and defense services whose primary end use is for civilian purposes. Extends and specifies aggregate outstanding loan, guarantee, and insurance authority through FY2021. Provides for textile industry representation on the Bank Advisory Committee. Requires the Bank to: (1) review its domestic content policy for medium- and long-term transactions; (2) include in its annual report to Congress, at least every every four years beginning in 2012, a five-year strategic plan; and (3) review and report to Congress regarding the Bank's information technology infrastructure. Directs the Comptroller General (GAO) to: (1) report to the Bank and to Congress on the Bank's financial position and the risk it poses to U.S. taxpayers, and (2) issue an annual report on the Bank's international competitiveness and its impact on U.S. employment. Urges the Bank to increase the export of renewable energy technologies and end-use energy efficiency technologies. Provides for increased Bank transparency and accountability. Prohibits Bank financing for persons that engage in certain sanctionable activities with respect to Iran.

export-import_bank reauthorization act amends export-import_bank_act extend termination functions date september eliminates provision directing bank urge provide coverage export loss valued revises list countries ineligible bank assistance extends september termination date sub saharan africa advisory committee bank authority provide financing export nonlethal defense articles defense services primary end use civilian purposes extends specifies aggregate outstanding loan guarantee insurance authority fy2021 provides textile industry representation requires bank review domestic content policy medium- long term transactions include annual report congress years beginning year strategic plan review report congress bank information technology infrastructure directs comptroller_general gao report bank congress bank financial position risk poses taxpayers issue annual report bank international competitiveness impact employment urges bank increase export renewable energy technologies end use energy efficiency technologies provides increased bank transparency accountability financing persons engage certain sanctionable activities respect iran


Summary: Municipal Bond Market Support Act of 2012 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that a small issuer may issue, and (2) allow an inflation adjustment to such increased limit amount after 2012.

municipal_bond_market_support_act code provisions relating small issuer exemption interest expense allocation rules financial institutions permanently increase million million annual limit tax exempt obligations small issuer issue allow inflation adjustment increased limit


Summary: Safe, Accountable, Fair, and Efficient Banking Act of 2012 or SAFE Banking Act of 2012 - 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 (Board) to require any bank holding company having a deposit concentration in violation of specified interstate banking requirements to sell or transfer liabilities to unaffiliated firms to bring the company into compliance with them. Revises the formula in the definition of "liabilities" to replace: (1) the total risk-weighted assets of the financial company (or of the U.S. operations of a foreign-based financial company) as adjusted to reflect exposures that are deducted from regulatory capital; with (2) total assets of the financial company (or of the U.S. operations of a foreign-based financial company), including all off-balance-sheet assets, including financings of assets for which the issuer has more than minimal economic or reputational risks or rewards. Prohibits a financial company from holding more than 10% of the total consolidated liabilities of all financial companies. Prescribes leverage ratio requirements for operating subsidiaries of bank holding companies and financial companies to prohibit either a bank holding company with total consolidated assets of $50 billion or more, or a Board-supervised nonbank financial company, from maintaining tangible common equity (qualifying common stockholders' equity plus retained earnings) in an amount less than 10% of average total consolidated assets (which include all off-balance-sheet assets, including financings of assets for which the issuer has more than minimal economic or reputational risks or rewards). Authorizes federal regulators to grant an emergency temporary exemption from such ratio requirements if necessary to prevent an imminent threat to the financial stability of the United States. Directs the Board to: (1) establish a leverage ratio for all operating non-insured depository institution subsidiaries of bank holding companies with $50 billion or more in total consolidated assets and nonbank financial companies; and (2) require a noncompliant such 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% 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 nonbank financial company supervised by the Board from possessing nondeposit liabilities exceeding 3% of the U.S. annual GDP.

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 board require bank holding company having deposit concentration violation specified interstate banking requirements sell transfer liabilities unaffiliated firms bring company compliance revises formula definition liabilities replace total risk weighted assets financial company operations foreign based financial company adjusted reflect exposures deducted regulatory capital total assets financial company operations foreign based financial company including balance sheet assets including financings assets issuer minimal economic reputational risks rewards prohibits financial company holding total consolidated liabilities financial companies prescribes leverage ratio requirements operating subsidiaries bank holding companies financial companies prohibit bank holding company total consolidated assets billion board supervised nonbank financial company maintaining tangible common equity qualifying common stockholders equity plus retained earnings average total consolidated assets include balance sheet assets including financings assets issuer minimal economic reputational risks rewards authorizes federal regulators grant emergency temporary exemption ratio requirements necessary prevent imminent threat financial stability united_states directs board establish leverage ratio operating non insured depository institution subsidiaries bank holding companies billion total consolidated assets nonbank financial companies require noncompliant company raise capital sell transfer assets balance sheet items unaffiliated firms prompt corrective action prohibits bank holding company possessing nondeposit liabilities exceeding 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 nonbank financial company supervised board possessing nondeposit liabilities exceeding annual gdp


Summary: Eliminate Privacy Notice Confusion Act - Amends the Gramm-Leach-Bliley Act to exempt from its annual privacy policy notice requirement any financial institution which: (1) provides nonpublic personal information only in accordance with specified requirements, and (2) has not changed its policies and practices with regard to disclosing nonpublic personal information from those disclosed in the most recent disclosure sent to consumers.

gramm leach bliley act exempt annual privacy policy notice requirement financial institution provides nonpublic personal information accordance specified requirements changed policies practices regard disclosing nonpublic personal information disclosed recent disclosure sent consumers


Summary: Small Business Lending for Jobs Act of 2012 - Directs federal banking agencies to focus upon: (1) facilitating credit availability to customers of insured depository institutions, and (2) using regulatory policies and procedures that promote credit availability in a safe and sound manner in order to assist insured depository institutions to provide such credit and thus encourage business development and employment. Prohibits federal banking agencies from requiring or pressuring insured depository institutions to provide particular kinds of credit or on particular terms. Directs each federal banking agency to report to Congress an implementation plan addressing such foci. Establishes the Credit Availability Council to coordinate federal banking agency efforts in facilitating credit availability to insured depository institution customers. 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. Directs the federal banking agencies to promulgate regulations permitting an insured depository institution to include all of its allowance for loan and lease losses when computing capital for purposes of satisfying risk-based capital requirements.

small business lending jobs act directs federal banking agencies focus facilitating credit availability customers insured depository institutions regulatory policies procedures promote credit availability safe sound manner order assist insured depository institutions provide credit encourage business development employment prohibits federal banking agencies requiring insured depository institutions provide particular kinds credit particular terms directs federal banking agency report congress implementation plan addressing establishes coordinate federal banking agency efforts facilitating credit availability insured depository institution customers 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 directs federal banking agencies promulgate regulations permitting insured depository institution include allowance loan lease losses computing capital purposes satisfying risk based capital requirements


Summary: Amends the Federal Home Loan Bank Act to make a state credit union eligible for membership in the Federal Home Loan Bank system.

amends federal_home_loan_bank act state credit union eligible membership federal_home_loan_bank system


Summary: Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to declare that certain federal agencies ("covered agencies") shall not be deemed to have waived any confidentiality applicable to information by either transferring such information to, or permitting it to be used by, another covered agency or specified federal agencies. Includes among "covered agencies": (1) the Consumer Financial Protection Bureau (CFPB), (2) state bank and financial company supervisors, and (3) certain licensing and registry systems established under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. Defines "confidentiality" to include any work-product, attorney-client, or other privilege recognized under federal or state law. Shields also from the waiver of confidentiality any information submitted by a person to either a federal banking agency, the CFPB, a state bank supervisor, or foreign banking authority in the course of its supervisory or regulatory process.

amends federal_deposit_insurance_act federal_credit_union_act declare certain federal agencies covered agencies shall deemed waived confidentiality applicable information transferring information permitting covered agency specified federal agencies includes covered agencies consumer_financial_protection_bureau cfpb state bank financial company supervisors certain licensing registry systems established secure fair enforcement mortgage licensing act defines confidentiality include work product attorney client privilege recognized federal state law shields waiver confidentiality information submitted person federal banking agency cfpb state bank supervisor foreign banking authority course supervisory regulatory process


Summary: Consumer Credit Access, Innovation, and Modernization Act - Directs the Comptroller of the Currency to charter qualified nondepository creditors known as National Consumer Credit Corporations (Credit Corporations) to offer financial products or services. Requires a qualified nondepository creditor seeking a federal charter to submit an application which includes in part: (1) a business plan for at least a three-year period with its primary business activities serving underserved consumers and small businesses; (2) a market demand forecast, the intended customer base, competition, economic conditions, financial projections, and business risks; (3) a marketing plan that describes the types of financial products or services such creditor intends to offer; and (4) adequate capital structure. Directs the Comptroller to: (1) ensure that Credit Corporations focus their business operations primarily on providing underserved consumers a variety of affordable and commercially viable financial products or services, including some that facilitate personal savings and enhance the credit record of such consumers; (2) facilitate business partnerships among Credit Corporations, insured depository institutions, other nondepository creditors, third-party service providers and vendors, and nonprofit organizations in order to ensure greater credit access for underserved consumers and small businesses; and (3) examine and supervise the Credit Corporations. Requires Credit Corporations to make available to each consumer to whom a financial product or service is being offered: (1) information on how a consumer may obtain financial counseling services, the benefits of following a regular personal savings program, and how consumers can improve their credit ratings; (2) disclose clearly and conspicuously in the loan agreement the true cost of the loan, including all interest, fees, and loan related charges; and (3) offer an underserved consumer who is unable to repay an extension of credit with a loan repayment term of less than 120 days, an extended repayment plan, at no cost to the consumer, at least once in a 12-month period. Prohibits specified practices. Prescribes: (1) a national consumer credit corporation regulatory fee, (2) a usury limit, and (3) civil penalties. Grants enforcement powers to the Comptroller and state attorneys general.

innovation modernization act directs comptroller currency charter qualified nondepository creditors known offer financial products services requires qualified nondepository creditor seeking federal charter submit application includes business plan year period primary business activities serving underserved consumers small businesses market demand forecast intended customer base competition economic conditions financial projections business risks marketing plan describes types financial products services creditor intends offer adequate capital structure directs comptroller ensure focus business operations primarily providing underserved consumers variety affordable commercially viable financial products services including facilitate personal savings enhance credit record consumers facilitate business partnerships insured depository institutions nondepository creditors party service providers vendors nonprofit organizations order ensure greater credit access underserved consumers small businesses examine supervise requires credit corporations available consumer financial product service offered information consumer obtain financial counseling services benefits following regular personal savings program consumers improve credit ratings disclose clearly conspicuously loan agreement true cost loan including interest fees loan related charges offer underserved consumer unable repay extension credit loan repayment term days extended repayment plan cost consumer month period prohibits specified practices prescribes national consumer credit corporation regulatory fee limit civil penalties grants enforcement powers comptroller state attorneys general


Summary: Terminating the Expansion of Too-Big-To-Fail Act of 2012 - Amends the Financial Stability Act of 2010, title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the Federal Deposit Insurance Act, and the Federal Reserve Act to eliminate all supervision by the Board of Governors of the Federal Reserve System (Board) of domestic and foreign nonbank financial companies, including new or heightened standards and safeguards and minimum leverage capital requirements. Eliminates the duty of the Financial Stability Oversight Council to identify systemically important financial market utilities and payment, clearing, and settlement activities. Repeals the authority of the Council, acting through the Office of Financial Research, to: (1) require the submission of periodic and other reports from any domestic or foreign nonbank financial company, or (2) request the Board to examine a U.S. nonbank financial company for the sole purpose of determining whether it should be Board-supervised. Repeals specified additional Board authority to supervise certain nonbank financial companies, including the prohibition against management interlocks between such companies and certain other financial companies. Repeals the requirement that the Board study and report to Congress on: (1) specified issues with respect to the resolution of financial companies under chapter 7 (Liquidation) or 11 (Reorganization) of the Bankruptcy Code, and (2) international coordination relating to the resolution of systemic financial companies under the U.S. Bankruptcy Code and applicable foreign law. Repeals the authority of the Council to recommend to the Board: (1) prudential standards and reporting and disclosure requirements for Board-supervised nonbank financial companies, and (2) any requirement that each nonbank financial company report periodically the company's credit exposure as well as its plan for rapid and orderly resolution in the event of material financial distress or failure. Repeals the requirement that the Council study the feasibility, benefits, costs, and structure of a contingent capital requirement for Board-supervised nonbank financial companies. Eliminates reporting requirements for such companies. Repeals the Payment, Clearing, and Settlement Supervision Act of 2010 (title VIII of Dodd-Frank).

terminating expansion big fail act amends financial stability act title dodd frank wall street reform consumer protection act dodd-frank federal_deposit_insurance_act federal_reserve_act eliminate supervision board_of_governors federal_reserve_system board domestic foreign nonbank financial companies including new heightened standards safeguards minimum leverage capital requirements eliminates duty financial_stability_oversight_council identify systemically important financial market utilities payment clearing settlement activities repeals authority council acting office_of_financial_research require submission periodic reports domestic foreign nonbank financial company request board examine nonbank financial company sole purpose determining board supervised repeals specified additional board authority supervise certain nonbank financial companies including prohibition management interlocks companies certain financial companies repeals requirement board study report congress specified issues respect resolution financial companies chapter liquidation reorganization bankruptcy code international coordination relating resolution systemic financial companies bankruptcy code applicable foreign law repeals authority council recommend board prudential standards reporting disclosure requirements board supervised nonbank financial companies requirement nonbank financial company report periodically company credit exposure plan rapid orderly resolution event material financial distress failure repeals requirement council study feasibility benefits costs structure contingent capital requirement board supervised nonbank financial companies eliminates reporting requirements companies repeals settlement supervision act title viii dodd-frank


Summary: Insurance Consumer Protection and Solvency Act of 2012 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exclude an insurance company from the definition of a "financial company" for purposes of such Act (thus removing an insurance company from the purview of the Act). Removes from the Federal Deposit Insurance Corporation (FDIC) the authority to place insurance companies into orderly liquidation. Excludes from the definition of "eligible financial company" for purposes of risk-based assessments an insurance company subject to assessment under state law to cover the costs of state insolvency proceeding regarding an insurance company.

insurance consumer protection solvency act amends dodd frank wall street reform consumer protection act exclude insurance company definition financial company purposes act removing insurance company purview act removes federal_deposit_insurance_corporation fdic authority place insurance companies orderly liquidation excludes definition eligible financial company purposes risk based assessments insurance company subject assessment state law cover costs state insolvency proceeding insurance company


Summary: Money Remittances Improvement Act of 2012 - Authorizes the Secretary of the Treasury, with respect to compliance with reporting requirements for monetary instrument transactions of certain financial institutions, to rely upon examinations conducted by the relevant state supervisory agency if: (1) the category of financial institution is required by state law to comply with federal requirements, or (2) the state supervisory agency is authorized to ensure that the financial institution complies with such federal requirements. Empowers the Director of the Financial Crimes Enforcement Network (FinCen) to furnish research, analytical, and informational services to foreign regulatory agencies in the interest of detection, prevention, and prosecution of terrorism, organized crime, money laundering, and other financial crimes.

authorizes secretary treasury respect compliance reporting requirements monetary instrument transactions certain financial institutions rely examinations conducted relevant state supervisory agency category financial institution required state law comply federal requirements state supervisory agency authorized ensure financial institution complies federal requirements empowers director financial_crimes_enforcement_network fincen furnish research analytical informational services foreign regulatory agencies interest detection prevention prosecution terrorism organized crime money laundering financial crimes


Summary: Amends the Internal Revenue Code to provide for tax preferred Small Business Savings Accounts to pay for trade or business expenses, including operating capital, 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).

amends internal revenue code provide tax preferred pay trade business expenses including operating capital 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: Small Business Lending Enhancement Act of 2011 - Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union. Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would result in a total amount of such loans outstanding at any one time of up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria. Prohibits an insured credit union that has made such a member business loan but that is not well capitalized from making any new member business loans until it becomes well capitalized and obtains Board approval. Directs the Board to develop a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations. Directs the Comptroller General to study the status of member business lending by insured credit unions.

small business lending enhancement act amends federal_credit_union_act prohibit insured credit union making member business loan result total loans outstanding credit union time exceeding times actual net worth credit union total assets credit union authorizes national_credit_union_administration_board approve application insured credit union member business loans result total loans outstanding time total assets credit union credit union meets specified safety soundness criteria prohibits insured credit union member business loan capitalized making new member business loans capitalized obtains board approval directs board develop tiered approval process including lending standards insured credit union gradually increases member business lending manner consistent safe sound operations directs comptroller general study status member business lending insured credit unions


Summary: Financial Takeover Repeal Act of 2011 - Repeals the Dodd-Frank Wall Street Reform and Consumer Protection Act, and revives or restores those the provisions of law amended by it as if that Act had not been enacted.

financial takeover repeals dodd frank wall street reform consumer protection act revives restores provisions law amended act enacted


Summary: Dodd-Frank Repeal Act of 2011 - Repeals titles I through XV of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Restores or revives the provisions of law amended or repealed by such titles as if the Act had not been enacted.

repeals titles dodd frank wall street reform consumer protection act restores revives provisions law amended repealed titles act enacted


Summary: Prohibits the Secretary of the Treasury from requiring a payor of interest to file an information return on interest that is not effectively connected with a trade or business within the United States and that is paid to a nonresident alien on a deposit maintained at an office within the United States.

prohibits secretary treasury requiring payor interest file information return interest effectively connected trade business united_states paid nonresident alien deposit maintained office united_states


Summary: Two-Year Regulatory Freeze Act of 2011 - Prohibits any federal department or agency from publishing new rules or regualtions, or finalizing or otherwise enforcing or giving lawful effect to draft rules or regulations, until January 31, 2013.  Exempts a rule which involves U.S. military or foreign affairs functions or matters relating to agency management or personnel or to public property, loans, grants, benefits, or contracts, or for which notice of proposed rulemaking is not otherwise required.

year regulatory freeze act prohibits federal department agency publishing new rules finalizing enforcing giving lawful effect draft rules regulations january rule involves military foreign affairs functions matters relating agency management personnel public property loans grants benefits contracts notice proposed rulemaking required


Summary: Export-Import Bank Reauthorization Act of 2011 - (Sec. 2) Amends the Export-Import Bank Act of 1945 to extend the termination of functions date for the Export-Import Bank of the United States to September 30, 2015. (Sec. 3) Eliminates the provision directing the Bank to urge the Foreign Credit Insurance Association to provide 100% coverage against any export loss valued at less than $100,000. (Sec. 4) Revises the list of Marxist-Leninist countries ineligible for Bank assistance. (Sec. 5) Extends the termination date of the Sub-Saharan Africa advisory committee through September 30, 2015. (Sec. 6) Extends and specifies aggregate outstanding loan, guarantee, and insurance authority through FY2015. (Sec. 7) Extends, through September 30, 2015, Bank authority to provide financing for the export of nonlethal defense articles and defense services whose primary end use is for civilian purposes. (Sec. 8) Provides for textile industry representation on the Bank Advisory Committee. Requires the Bank to include in its annual report to Congress information on Bank support for U.S. textile and apparel exports. (Sec. 9) Requires the Bank to: (1) review its domestic content policy for medium- and long-term transactions and evaluate policy contributions to job creation and a stronger economy; (2) include in its annual report to Congress, at least every every four years beginning in 2012, a five-year strategic plan; and (3) review and report to Congress regarding the Bank's information technology infrastructure. (Sec. 12) Directs the Government Accountability Office (GAO) to report to the Bank and to Congress regarding the Bank's financial position and the risks it poses for American taxpayers. (Sec. 13) Urges the Bank to increase the export of renewable energy technologies and end-use energy efficiency technologies. (Sec. 14) Provides for increased Bank transparency and accountability. (Sec. 15) Requires the inclusion of specified information concerning case processing, operations, and process improvement in the Bank's annual report. (Sec. 16) Prohibits Bank financing for persons that engage in certain sanctionable activities with respect to Iran.

export-import_bank reauthorization act sec amends export-import_bank_act extend termination functions date september sec eliminates provision directing bank urge provide coverage export loss valued sec revises list countries ineligible bank assistance sec extends termination date sub saharan africa advisory committee september sec extends specifies aggregate outstanding loan guarantee insurance authority fy2015 sec extends september bank authority provide financing export nonlethal defense articles defense services primary end use civilian purposes sec textile industry representation requires bank include annual report congress information bank support textile apparel exports sec requires bank review domestic content policy medium- long term transactions evaluate policy contributions job creation stronger economy include annual report congress years beginning year strategic plan review report congress bank information technology infrastructure sec directs government_accountability_office gao report bank congress bank financial position risks poses american taxpayers sec urges bank increase export renewable energy technologies end use energy efficiency technologies sec provides increased bank transparency accountability sec requires inclusion specified information concerning case processing operations process improvement bank annual report sec financing persons engage certain sanctionable activities respect iran


Summary: Community Banks Serving Their Communities First Act or Communities First Act - Revises regulatory requirements for community banks, including amendments to: (1) the Federal Deposit Insurance Act to permit certain insured depository institutions to submit a short form report of condition, and (2) the Sarbanes-Oxley Act of 2002 to exempt certain small-sized depository institutions from the annual management assessment of internal controls requirements. Directs the Board of Governors of the Federal Reserve System (Federal Reserve Board) to publish in the Federal Register certain proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors relating to: (1) certain bank holding companies with pro forma consolidated assets of less than $1 billion, and (2) an increased debt-to-equity ratio allowable for a small bank holding company. Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to: (1) increase the shareholder registration threshold for certain banks and bank holding companies; and (2) terminate the registration of any class of security, in the case of a bank or bank holding company, whose holders of record are reduced to less than 1,700 persons. Amends the Consumer Financial Protection Act of 2010 to: (1) authorize the Financial Stability Oversight Council to set aside a final regulation prescribed by the Consumer Financial Protection Bureau (CFPB) if the Council decides that it would be inconsistent with the safe and sound operation of U.S. financial institutions, and (2) repeal the authority of the Federal Reserve Board to delegate to the CFPB its authority to examine persons for compliance with federal consumer financial laws. Amends the Truth in Lending Act (TILA) to direct the CFPB to exempt from escrow or impound account requirements any loan secured by a first lien on a consumer's principal dwelling, if the loan is held by an insured depository institution having assets of $10 billion or less. Amends the Gramm-Leach-Bliley Act to exempt certain financial institutions from furnishing a mandatory annual privacy notice. Amends the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture to assess, for certain guaranteed business and industry loans for rural communities under $5 million, a one-time fee of 1% or less of the loan's guaranteed principal. Amends the Right to Financial Privacy Act of 1978 to require a government authority to reimburse fees incurred by certain small-sized financial institutions with assets of $1 billion or less for all records required to be furnished for any federal law enforcement or investigative purpose outside the regular examination process. Directs the Federal Deposit Insurance Corporation (FDIC) to report to Congress on the costs and benefits of allowing an insured depository institution with less than $10 billion in assets to: (1) amortize specified loan losses or write-downs over a 10-year period; and (2) use a 5-year average of the appraised value of any real estate securing a loan held by the institution, for purposes determining capital levels. Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act with respect to the mandatory federal agency review of regulations requiring the use of an assessment of the credit-worthiness of a security or money market instrument. Repeals the requirement that an agency modify such a regulation to remove any reference to or requirement of reliance on credit ratings and to substitute for it an appropriate standard of credit-worthiness. Requires instead that an agency modify the regulation to specify appropriate levels of due diligence for regulated entities to use in evaluating the creditworthiness of the obligor or assets underlying a rated security or instrument based on the characteristics of such obligor or assets. Requires agencies to seek to establish uniform standards of due diligence rather than credit-worthiness for use by each agency. Amends the Equal Credit Opportunity Act regarding requirements with which a financial institution must comply in collecting data for evaluation of a credit application by a women-owned, minority-owned, or small business. Applies such requirements only to financial institutions having over $1 billion in assets (thus exempting smaller financial institutions). Amends the Internal Revenue Code to: (1) defer income recognition on long-term certificates of deposit held by cash basis individuals, (2) exclude from gross income any interest on loans secured by agricultural real property, (3) increase the cap on qualified small issue bonds, (4) allow certain FDIC-insured financial institutions with $10 billion or less in gross assets to elect partnership (limited liability company) tax treatment, and (5) set forth special rules for Roth IRAs for individuals under age 26 (young savers' accounts). Reduces by 20% (up to $250,000) the aggregate tax for a community bank, and by 50% (up to $500,000) for community banks operating in specified distressed areas. Allows similar aggregate tax reductions for small-sized community banks that are subchapter S corporations. Subjects to certain IRS principles a qualifying investment in specified small bank issuers in the same manner as if such investment had been made by the Department of the Treasury. Prescribes requirements for a 5-year Net Operating Loss (NOL) Carryback for 2010 and 2011 for certain community banks. Increases to 200 the shareholder limit for small business subchapter S corporations. Permits the issuance of preferred stock for subchapter S corporations.

act communities act revises regulatory requirements community banks including amendments federal_deposit_insurance_act permit certain insured depository institutions submit short form report condition sarbanes oxley act exempt certain small sized depository institutions annual management assessment internal controls requirements directs board_of_governors federal_reserve_system federal_reserve_board publish federal_register certain proposed revisions small_bank_holding_company_policy_statement_on_assessment_of_financial_and_managerial_factors relating certain bank holding companies pro forma consolidated assets billion increased debt equity ratio allowable small bank holding company amends securities_exchange_act direct securities_and_exchange_commission sec increase shareholder registration threshold certain banks bank holding companies terminate registration class security case bank bank holding company holders record reduced persons amends consumer_financial_protection_act authorize financial_stability_oversight_council set aside final regulation prescribed consumer_financial_protection_bureau cfpb council decides inconsistent safe sound operation financial institutions repeal authority federal_reserve_board delegate cfpb authority examine persons compliance federal consumer financial laws amends truth lending act tila direct cfpb exempt escrow impound account requirements loan secured lien consumer principal dwelling loan held insured depository institution having assets billion amends gramm leach bliley act exempt certain financial institutions furnishing mandatory annual privacy notice amends consolidated_farm rural development act authorize secretary agriculture assess certain guaranteed business industry loans rural communities million time fee loan guaranteed principal amends right financial privacy act require government authority reimburse fees incurred certain small sized financial institutions assets billion records required furnished federal law enforcement investigative purpose outside regular examination process directs federal_deposit_insurance_corporation fdic report congress costs benefits allowing insured depository institution billion assets amortize specified loan losses write downs year period use year average appraised value real estate securing loan held institution purposes determining capital levels amends dodd frank wall street reform consumer protection act respect mandatory federal agency review regulations requiring use assessment credit security money market instrument repeals requirement agency modify regulation remove reference requirement reliance credit ratings substitute appropriate standard credit requires instead agency modify regulation specify appropriate levels diligence regulated entities use evaluating creditworthiness obligor assets underlying rated security instrument based characteristics obligor assets requires agencies seek establish uniform standards diligence credit use agency amends equal_credit_opportunity_act requirements financial institution comply collecting data evaluation credit application women owned minority owned small business applies requirements financial institutions having billion assets exempting smaller financial institutions amends internal revenue code defer income recognition long term certificates deposit held cash basis individuals exclude gross income interest loans secured agricultural real property increase cap qualified small issue bonds allow certain fdic insured financial institutions billion gross assets elect partnership limited liability company tax treatment set forth special rules roth iras individuals age young savers accounts reduces aggregate tax community bank community banks operating specified distressed areas allows similar aggregate tax reductions small sized community banks subchapter corporations subjects certain irs principles qualifying investment specified small bank issuers manner investment department_of_the_treasury prescribes requirements year net operating loss carryback certain community banks increases shareholder limit small business subchapter corporations permits issuance preferred stock subchapter corporations


Summary: Amends the Internal Revenue Code, with respect to personal holding company rules, to repeal certain exceptions to the treatment of consolidated groups of corporations under such rules.

amends internal revenue code respect personal holding company rules repeal certain exceptions treatment consolidated groups corporations rules


Summary: Deceptive Loan Check Elimination Act - Amends the Truth in Lending Act (TILA) to prohibit a person from extending any consumer credit through the use by the consumer of a check or other negotiable instrument sent by the creditor to solicit an extension of consumer credit, unless the consumer has requested it in writing. States that a nonnegotiable instrument that has the appearance of a negotiable instrument in connection with a solicitation for an extension of credit is not an application or request for purposes of this Act. Shields a consumer from liability for: (1) the principal amount of a negotiable instrument sent in violation of this Act; or (2) any interest, fee, or penalty charged in connection with such negotiable instrument. Prohibits any information relating to the liability of a consumer alleged by a creditor to have been established through a negotiable instrument sent in violation of this Act from being either reported to or received by any consumer reporting agency, or from being included in any consumer report.

deceptive loan check elimination act amends truth lending act tila prohibit person extending consumer credit use consumer check negotiable instrument sent creditor solicit extension consumer credit consumer requested writing states instrument appearance negotiable instrument connection solicitation extension credit application request purposes act shields consumer liability principal negotiable instrument sent violation act interest fee penalty charged connection negotiable instrument prohibits information relating liability consumer alleged creditor established negotiable instrument sent violation act reported received consumer reporting agency included consumer report


Summary: PCAOB Enforcement Transparency Act of 2011 - Amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings public unless the Board, on its own motion or after considering the motion of a party, orders otherwise.

pcaob enforcement transparency act amends sarbanes oxley act public_company_accounting_oversight_board disciplinary proceedings public board motion considering motion party orders


Summary: Closing the Derivatives Blended Rate Loophole Act - Amends the Internal Revenue Code to treat all gain or loss with respect to a section 1256 contract (i.e., any regulated futures contract, foreign currency contract, nonequity option, dealer equity option, and dealer securities future contract) as short-term capital gain or loss (currently, 60% of such gain or loss is treated as long-term capital gain or loss and is thus taxed at lower marginal rates).

closing derivatives blended rate loophole act amends internal revenue code treat gain loss respect section contract regulated futures contract foreign currency contract option dealer equity option dealer securities future contract short term capital gain loss currently gain loss treated long term capital gain loss taxed lower marginal rates


Summary: Amends the Federal Deposit Insurance Act to prohibit information submitted to the Consumer Financial Protection Bureau (CFPB) in the course of any supervisory or regulatory process from being construed as affecting any privilege the submitter may claim about that information under federal or state law as to any person or entity other than the CFPB.

amends federal_deposit_insurance_act prohibit information submitted consumer_financial_protection_bureau cfpb course supervisory regulatory process construed affecting privilege claim information federal state law person entity cfpb


Summary: Home Building Lending Improvement Act of 2012 - Directs each of the appropriate federal banking agencies to initiate guidance or rulemaking with respect to financial institutions under their respective jurisdictions that make real estate loans to home builders. Requires such rulemaking to provide for: (1) adjustment from 100% to 125% of bank capital the measurement that triggers additional scrutiny on real estate loans in the lending portfolio of any qualified financial institution, (2) a prohibition against compelling lenders to call loans in good standing, and (3) improved composite ratings of a financial institution to take effect immediately. Prohibits a federal banking agency also from preventing a qualified financial institution from making a real estate loan to a home builder in good standing that is secured by a viable project, unless there is a legitimate supervisory or accounting reason to do so. Prohibits such banking agencies from requiring a financial institution to reclassify any real estate loan to a homebuilder in good standing on the balance sheet of such institution, unless there is a legitimate supervisory or accounting reason to do so. Prohibits such agency guidance and regulations from superseding state law, except to the extent of state law inconsistency.

home building lending improvement act directs appropriate federal banking agencies initiate guidance rulemaking respect financial institutions respective jurisdictions real estate loans home requires rulemaking provide adjustment bank capital measurement triggers additional scrutiny real estate loans lending portfolio qualified financial institution prohibition compelling lenders loans good standing improved composite ratings financial institution effect immediately prohibits federal banking agency preventing qualified financial institution making real estate loan home builder good standing secured viable project legitimate supervisory accounting reason prohibits banking agencies requiring financial institution reclassify real estate loan good standing balance sheet institution legitimate supervisory accounting reason prohibits agency guidance regulations superseding state law extent state law inconsistency


Summary: Amends the Federal Deposit Insurance Act to make the Consumer Financial Protection Bureau (CFPB) a "covered agency" that may share information with another covered agency or any other federal agency without waiving any privilege applicable to the information. Prohibits information submitted to the CFPB in the course of its supervisory or regulatory process from being construed as waiving, destroying, or affecting any privilege that may be claimed with respect to such information under federal or state law as to any person or entity other than the CFPB, another federal banking agency, a state bank supervisor, or a foreign banking authority.

amends federal_deposit_insurance_act consumer_financial_protection_bureau cfpb covered agency share information covered agency federal agency waiving privilege applicable information prohibits information submitted cfpb course supervisory regulatory process construed waiving destroying affecting privilege claimed respect information federal state law person entity cfpb federal banking agency state bank supervisor foreign banking authority


Summary: Financial Institutions Examination Fairness and Reform Act - Amends the Federal Financial Institutions Examination Council Act of 1978 to require a federal financial institutions regulatory agency to make a final examination report to a financial institution within 60 days of the later of: (1) the exit interview for an examination of the institution, or (2) the provision of additional information by the institution relating to the examination. Sets a deadline for the exit interview if a financial institution is not subject to a resident examiner program. Sets forth examination standards for financial institutions. Prohibits federal financial institutions regulatory agencies from requiring a well capitalized financial institution to raise additional capital in lieu of an action prohibited by the examination standards. Establishes in the Federal Financial Institutions Examination Council an Office of Examination Ombudsman. Grants a financial institution the right to appeal a material supervisory determination contained in a final report of examination. Requires the Ombudsman to determine the merits of the appeal on the record, after an opportunity for a hearing before an independent administrative law judge. Declares the decision by the Ombudsman on an appeal to: (1) be the final agency action, and (2) bind the agency whose supervisory determination was the subject of the appeal and the financial institution making the appeal. Amends the Riegle Community Development and Regulatory Improvement Act of 1994 to require: (1) the Consumer Financial Protection Bureau (CFPB) to establish an independent intra-agency appellate process in connection with the regulatory appeals process; and (2) appropriate safeguards to protect an insured depository institution or insured credit union from retaliation by the CFPB, the National Credit Union Administration (NCUA) Board, or any other federal banking agency for exercising its rights.

financial institutions examination fairness reform_act_-_amends federal financial institutions examination council act require federal financial institutions regulatory agency final examination report financial institution days later exit interview examination institution provision additional information institution relating examination sets deadline exit interview financial institution subject resident examiner program sets forth examination standards financial institutions prohibits federal financial institutions regulatory agencies requiring capitalized financial institution raise additional capital lieu action prohibited examination standards establishes grants financial institution right appeal material supervisory determination contained final report examination requires ombudsman determine merits appeal record opportunity hearing independent administrative law judge declares decision ombudsman appeal final agency action bind agency supervisory determination subject appeal financial institution making appeal amends riegle_community_development_and_regulatory_improvement_act require consumer_financial_protection_bureau cfpb establish independent intra agency appellate process connection regulatory appeals process appropriate safeguards protect insured depository institution insured credit union retaliation cfpb national_credit_union_administration ncua board federal banking agency exercising rights


Summary: Amends the Bank Holding Company Act of 1956 to delay the effective date for specified prohibitions against proprietary trading by banking entities and certain relationships with hedge funds and private equity funds (Volcker Rule) to the later of either 12 months after issuance of final implementing rules, or 2 years after July 21, 2010.

amends bank_holding_company_act delay effective date specified prohibitions proprietary trading banking entities certain relationships hedge funds private equity funds volcker rule later months issuance final implementing rules years july


Summary: Small Business Lending Enhancement Act of 2012 - Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union. Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would result in a total amount of such loans outstanding at any one time of up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria. Prohibits an insured credit union that has made such a member business loan but that is not well capitalized from making any new member business loans until it becomes well capitalized and obtains Board approval. Directs the Board to develop a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations. Directs the Comptroller General to study the status of member business lending by insured credit unions.