Summary: Protecting Jobs in Your State Act of 2010 - Prohibits a state or a political subdivision from using funds made available under the American Recovery and Reinvestment Act of 2009 (ARRA), the Hiring Incentives to Restore Employment Act, Public Law 111-226 (relating to education jobs and Medicaid payments to states), the Small Business Jobs Act of 2010, or the Robert T. Stafford Disaster Relief and Emergency Assistance Act, or funds for disaster relief administered by the Secretary of Homeland Security (DHS), as an incentive for a business to: (1) relocate a plant, facility, or other operation from one state to another; or (2) expand an operation in a state in a manner that will result in a reduction in such an operation in another state. Authorizes a political subdivision to submit to the state governor a petition stating that it has been adversely affected by a violation of such prohibition and requesting that the governor submit to the Secretary of Commerce a petition for an investigation. Provides that if the Secretary determines that a violation has occurred, the state in which such a violation was committed shall be liable to the United States for the amount of funds involved. Prohibits such a state from receiving any other funds under such Acts until it fully repays such amount to the United States. Directs the Comptroller General, biannually during the period that ends five years after this Act's enactment, to submit to specified committees a report on the impact of such provisions, including: (1) a statement of the number of petitions received by the Secretary of Commerce and a summary of the disposition of such petitions; (2) a list of U.S. claims that arose, were outstanding, or were collected; and (3) a list of any funds withheld.

protecting jobs state act prohibits state political subdivision funds available american_recovery_and_reinvestment_act arra public law relating education jobs medicaid payments states small_business_jobs_act robert stafford disaster relief emergency assistance act funds disaster relief administered secretary homeland_security dhs incentive business relocate plant facility operation state expand operation state manner result reduction operation state authorizes political subdivision submit state governor petition stating adversely affected violation prohibition requesting governor submit secretary commerce petition investigation provides secretary determines violation occurred state violation committed shall liable united_states funds involved prohibits state receiving funds acts fully repays united_states directs comptroller_general biannually period ends years act enactment submit specified committees report impact provisions including statement number petitions received secretary commerce summary disposition petitions list claims arose outstanding collected list funds withheld


Summary: Amends the Emergency Economic Stabilization Act to revise the process for exercising the authority of the Secretary of the Treasury to make purchases of troubled assets in excess of the $350 billion previously obligated.Changes the Joint Resolution of Disapproval, regarding the exercise of such authority, to a Joint Resolution of Approval. Prohibits the Secretary from exercising authority to make such purchases unless a joint resolution approving the plan is enacted into law within 15 calendar days after Congress receives a report of the Secretary's plan to exercise the authority.

amends emergency economic stabilization act revise process exercising authority secretary treasury purchases troubled assets excess billion previously obligated changes joint resolution disapproval exercise authority joint resolution approval prohibits secretary exercising authority purchases joint resolution approving plan enacted law calendar days congress receives report secretary plan exercise authority


Summary: Invest in Small Business Act of 2009 - Amends the Internal Revenue Code to: (1) increase the exclusion from gross income of gain from the sale or exchange of qualified small business stock from 50 to 100 % of such gain and to reduce the required holding period for such stock from five to four years; (2) deny a tax exclusion for small business stock held by a 25% controlled corporate group; (3) repeal as an item of tax preference under the alternative minimum tax the exclusion of gain from the sale of small business stock; (4) repeal the 28% income tax rate on the gain from the sale of small business stock which is not excluded from gross income; (5) revise the definition of "qualified small business" for certain tax purposes to mean a C corporation with aggregate gross assets not exceeding $100 million (currently, $50 million); and (6) provide for an annual inflation adjustment to the small business aggregate gross asset amount after 2009.

invest small business act amends internal revenue code increase exclusion gross income gain sale exchange qualified small business stock gain reduce required holding period stock years deny tax exclusion small business stock held controlled corporate group repeal item tax preference alternative minimum tax exclusion gain sale small business stock repeal income tax rate gain sale small business stock excluded gross income revise definition qualified small business certain tax purposes mean corporation aggregate gross assets exceeding million currently million provide annual inflation adjustment small business aggregate gross asset


Summary: Empowering States' Right To Protect Consumers Act of 2009 - Amends the Truth In Lending Act to limit the annual percentage rate (APR) applicable to any consumer credit transaction (other than a residential mortgage transaction), including any associated fees, to the maximum rate permitted by the laws of the state in which the consumer resides.

empowering states right protect consumers act amends truth lending act limit annual percentage rate apr applicable consumer credit transaction residential mortgage transaction including associated fees maximum rate permitted laws state consumer resides


Summary: Municipal Bond Market Support Act of 2009 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) increase from $10 to $30 million the annual limit on small issuers of tax-exempt municipal bonds; (2) allow an inflation adjustment to such increased limit amount after 2009; (3) repeal aggregation rules relating to the determination of small issuer eligibility; (4) allow small issuers an election to treat borrowers separately for purposes of issuance limitations; and (5) allow in 2009 or 2010 financial institutions and brokers to hold up to 2% of their assets in tax-exempt securities without affecting their interest expense tax deduction.

municipal_bond_market_support_act amends internal revenue code provisions relating small issuer exemption interest expense allocation rules financial institutions increase million annual limit small issuers tax exempt municipal bonds allow inflation adjustment increased limit repeal aggregation rules relating determination small issuer eligibility allow small issuers election treat borrowers separately purposes issuance limitations allow financial institutions brokers hold assets tax exempt securities affecting interest expense tax deduction


Summary: Amends the Internal Revenue Code to: (1) extend for one year the additional 50% depreciation allowance (bonus depreciation) for business property placed in service in 2009; (2) qualify motion picture film or video tape for bonus depreciation; and (3) extend through 2009 the increased ($250,000) expensing allowance for certain depreciable business assets.

amends internal revenue code extend year additional depreciation allowance bonus depreciation business property placed service qualify motion picture film video tape bonus depreciation extend increased expensing allowance certain depreciable business assets


Summary: Community Choice in Real Estate Act - Amends the Bank Holding Company Act of 1956 and the Revised Statutes of the United States to prohibit the Board of Governors of the Federal Reserve System and the Secretary of the Treasury, respectively, from determining that real estate brokerage activity or real estate management activity is financial in nature, is incidental to any financial activity, or is complementary to a financial activity. (In effect, prohibits financial holding companies and national banks from engaging, directly or indirectly, in real estate brokerage or real estate management activities.) Exempts from such prohibition: (1) activities of a bank holding company (or any affiliate) that directly relate to managing any real property owned by national banks or their affiliates; and (2) the right, power, or ability of any financial holding company to engage in any activity, or acquire or retain the shares of any company engaged in an activity authorized for financial holding companies on December 6, 2001 ("grandfather clause").

community choice real estate act amends bank_holding_company_act revised_statutes united_states prohibit board_of_governors federal_reserve_system secretary treasury respectively determining real estate brokerage activity real estate management activity financial nature incidental financial activity complementary financial activity effect prohibits financial holding companies national banks engaging directly indirectly real estate brokerage real estate management activities exempts prohibition activities bank holding company affiliate directly relate managing real property owned national banks affiliates right power ability financial holding company engage activity acquire retain shares company engaged activity authorized financial holding companies december grandfather clause


Summary: Economic Recovery Adjustment Act of 2009 - Establishes within the Department of Justice the Office of the Taxpayer Advocate to conduct audits and oversight of the compensation of the officers and directors of entities assisted under the Troubled Asset Relief Program (TARP). Authorizes the Advocate to assist the Secretary of the Treasury in the negotiation of TARP assistance in order to: (1) assure that fair and reasonable executive compensation is paid by entities receiving TARP funds; and (2) defend such agreements in the event of any challenge to the adjustments to compensation obligations. States that negotiated reductions in compensation under this Act: (1) may include vested deferred compensation; and (2) shall be in an amount that is fair and reasonable in light of the taxpayers' assistance, but not less than the estimated value of the compensation obligations that would face the estate or debtor-in-possession if the TARP funds had not been granted, and the entity had filed for bankruptcy protection. Requires the Advocate to negotiate a reduction in executive compensation obligations as a prerequisite to TARP assistance if, after an audit, the Advocate finds reason to believe that the assisted entity would have become insolvent if not for the receipt of TARP assistance. Establishes the Temporary Economic Recovery Oversight Panel to: (1) either approve or deny a proposed settlement; or (2) upon petition of the Advocate (or of any individual subject to the Advocate's actions), issue an order establishing an executive compensation program if no settlement is reached.

economic recovery adjustment act establishes conduct audits oversight compensation officers directors entities assisted troubled_asset_relief_program tarp authorizes advocate assist secretary treasury negotiation tarp assistance order assure fair reasonable executive compensation paid entities receiving tarp funds defend agreements event challenge adjustments compensation obligations states negotiated reductions compensation act include vested deferred compensation shall fair reasonable light taxpayers assistance estimated value compensation obligations face estate debtor possession tarp funds granted entity filed bankruptcy protection requires advocate negotiate reduction executive compensation obligations prerequisite tarp assistance audit advocate finds reason believe assisted entity insolvent receipt tarp assistance approve deny proposed settlement petition advocate individual subject advocate actions issue order establishing executive compensation program settlement reached


Summary: FBI Priorities Act of 2009 - Authorizes appropriations for FY2010-FY2014 to fund 1,000 additional Federal Bureau of Investigation (FBI) field agents to investigate financial crimes.

fbi priorities act authorizes appropriations fy2010 fy2014 fund additional federal_bureau_of_investigation fbi field agents investigate financial crimes


Summary: Protecting Consumers from Unreasonable Credit Rates Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from extending credit to a consumer under an open end consumer credit plan (credit card) for which the fee and interest rate exceeds 36%. Sets forth criminal penalties for violation of this Act. Empowers state Attorneys General to enforce this Act. Revises requirements for a periodic statement for each billing cycle with respect to where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro rata part of 50 cents for a billing cycle shorter than monthly. Requires inclusion of the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).

protecting_consumers unreasonable credit rates act amends truth lending act prohibit creditor extending credit consumer open end consumer credit plan credit card fee interest rate exceeds sets forth criminal penalties violation act empowers state attorneys general enforce act revises requirements periodic statement billing cycle respect total finance charge exceeds cents monthly longer billing cycle pro rata cents billing cycle shorter monthly requires inclusion fee interest rate displayed fair instead total finance charge expressed annual percentage rate apr


Summary: TARP Oversight Enhancement Act - Amends the Emergency Economic Stabilization Act of 2008 (EESA) to bring under the oversight authority of the Comptroller General any entity participating in the Troubled Asset Relief Program (TARP) whose sole expenditure, transaction, or commitment to purchase (or any pattern of such): (1) exceeds $10,000, in aggregate; and (2) is not essential to ensuring the entity's recovery, restoring its solvency, improving its liquidity, enhancing returns for its investors, and increasing its net worth.

tarp oversight enhancement act amends emergency economic stabilization act eesa bring oversight authority comptroller_general entity participating troubled_asset_relief_program tarp sole expenditure transaction commitment purchase pattern exceeds aggregate essential ensuring entity recovery restoring solvency improving liquidity enhancing returns investors increasing net worth


Summary: The Depositor Protection Act of 2009 - Amends the Federal Deposit Insurance Act to increase from $30 billion to $100 billion the maximum sum that the Federal Deposit Insurance Corporation (FDIC) is authorized to borrow from the Secretary of the Treasury. Authorizes a temporary increase, through calendar 2010, in such borrowing authority, up to a maximum of $500 billion, if the Secretary of the Treasury, in consultation with the President, determines that additional amounts above $100 billion are necessary, pursuant to the written recommendation of the FDIC Board of Directors and the Board of Governors of the Federal Reserve System (Federal Reserve Board). Requires a two-thirds vote of the members of both the FDIC Board of Directors and the Federal Reserve Board to make such a recommendation. Requires the FDIC, if its borrowing authority is increased above $100 billion, to report promptly to certain congressional committees the reasons and need for the additional borrowing authority and its intended uses.

depositor protection act amends federal_deposit_insurance_act increase billion billion maximum sum federal_deposit_insurance_corporation fdic authorized borrow secretary treasury authorizes temporary increase calendar borrowing authority maximum billion secretary treasury consultation president determines additional amounts billion necessary pursuant written recommendation board_of_governors federal_reserve_system federal_reserve_board requires thirds vote members federal_reserve_board recommendation requires fdic borrowing authority increased billion report promptly certain congressional committees reasons need additional borrowing authority intended uses


Summary: Improving Access to Mainstream Financial Institutions Act of 2009 - Authorizes the Secretary of the Treasury to award grants, including multi-year grants, to specified eligible entities to establish an account in a federally insured depository institution for low- and moderate-income individuals who currently do not have such an account. Includes among such eligible entities: (1) Alaska Native Corporations; (2) Native Hawaiian organizations; and (3) labor organizations. Authorizes the Secretary to award demonstration project grants to eligible entities to provide low-cost, small loans to consumers that will provide alternatives to more costly, predatory payday loans. Requires such entities to be: (1) tax-exempt charitable organizations; (2) federally insured depository institutions; (3) community development financial institutions; or (4) partnerships comprised of one or more of such entities. Requires grant recipients to offer financial literacy and education opportunities to each consumer provided with a loan pursuant to this Act.

authorizes secretary treasury award grants including multi year grants specified eligible entities establish account federally insured depository institution low- moderate income individuals currently account includes eligible entities alaska_native_corporations native hawaiian organizations labor organizations authorizes secretary award demonstration project grants eligible entities provide low cost small loans consumers provide alternatives costly predatory payday loans requires entities tax exempt charitable organizations federally insured depository institutions community development financial institutions partnerships comprised entities requires grant recipients offer financial literacy education opportunities consumer provided loan pursuant act


Summary: National Consumer Cooperative Bank Act Amendments of 2009 - Amends the National Consumer Cooperative Bank Act to declare that a nonprofit corporation (established to succeed the abolished Office of Self-Help Development and Technical Assistance) shall be deemed to be a community development financial institution, unless the National Consumer Cooperative Bank or any of its affiliates participates in certain depository institution incentives under the Community Development Banking and Financial Institutions Act of 1994.

amends act declare nonprofit corporation established succeed abolished shall deemed community development financial institution affiliates participates certain depository institution incentives


Summary: Small Business Paperwork Relief Act of 2009 - Amends the Paperwork Reduction Act to direct agency heads not to impose civil fines for first-time paperwork violations by small business concerns unless there is potential for serious harm to the public interest, the detection of criminal activity would be impaired, the violation is not corrected within six months, the violation is a violation of internal revenue law or a law concerning the assessment or collection of any tax, debt, revenue, or receipt, or the violation presents a danger to the public health or safety. Permits an agency to determine that a fine should not be imposed for a violation that presents a danger to public health or safety if the violation is corrected within 24 hours after receipt by the small business owner of notification of the violation. Makes this Act inapplicable to any violation by a small business of a requirement regarding the collection of information by an agency if the small business previously violated any requirement concerning the collection of information by that agency.

small business paperwork relief act amends paperwork reduction act direct agency heads impose civil fines time paperwork violations small business concerns potential harm public interest detection criminal activity impaired violation corrected months violation violation internal revenue law law concerning assessment collection tax debt revenue receipt violation presents danger public health safety permits agency determine fine imposed violation presents danger public health safety violation corrected hours receipt small business owner notification violation makes act inapplicable violation small business requirement collection information agency small business previously violated requirement concerning collection information agency


Summary: Entrepreneurial Development Act of 2009 - Title I: Reauthorization - (Sec. 101) Amends the Small Business Act to reauthorize for FY2010-FY2012 the following programs for small businesses administered by the Small Business Administration (SBA): (1) the SCORE (Service Corps of Retired Executives) program; (2) the small business development center (SBDC) program; and (3) the Paul D. Coverdell drug-free workplace program. Title II: Women's Small Business Ownership Programs - (Sec. 201) Requires the Director (currently designated the Assistant Administrator) of the Office of Women's Business Ownership to administer programs and services of the Office to assist women entrepreneurs to address issues in the areas management, operations, manufacturing, technology, finance, retail and product sales, international trade, government contracting, and other disciplines required for starting, operating, and increasing the business of women's small businesses. Authorizes the SBA Administrator to provide annual programmatic and financial oversight training for women's business ownership representatives and SBA district office technical representatives. Directs the Administrator to maximize the transparency of the women's business center financial assistance proposal process and the programmatic and financial oversight process. (Sec. 202) Revises provisions concerning the women's business center (WBC) program to: (1) recognize the existence and activities of any association that represents at least 51% of the WBCs; (2) establish a minimum $150,000 annual grant amount to each WBC; (3) require the Administrator to consult with each recognized association of women's business centers for purposes of WBC training and program improvement; (4) provide application and criteria requirements for financial assistance to eligible entities under the WBC program; (4) provide for Administrator review and approval of grant applications and applications for renewal grants using specified criteria; (5) authorize appropriations for the WBC program for FY2010-FY2012; and (6) require prompt disbursement of authorized grant funds. (Sec. 203-204) Amends the Women's Business Ownership Act of 1988 to: (1) reauthorize the National Women's Business Council for FY2010-FY2012; (2) require the Deputy Administrator of the SBA to serve as chairperson of the Interagency Committee on Women's Business Enterprise until a chairperson is appointed; and (3) establish within such Committee a Policy Advisory Group to assist the chairperson in developing policies and programs. (Sec. 205) Directs the Administrator, when filling a position on the National Women's Business Council, to ensure an equal number of members from each of the two major political parties. Requires a report from the Administrator to the congressional small business committees if a vacancy is not filled within 30 days or if there is an imbalance for more than 30 days in the number of members from each party. (Sec. 206) Requires the Comptroller General (CG) to: (1) conduct a study of the unique economic issues facing women's business centers in states that are predominately rural or urban, or in any state or territory that is an island; and (2) report study results to Congress. Title III: Native American Small Business Development Program - Native American Small Business Development Act of 2009 - (Sec. 302) Establishes within the SBA the Office of Native American Affairs, headed by an Assistant Administrator of Native American Affairs, to implement SBA programs for the development of business enterprises by Native Americans. Requires: (1) the SBA to provide financial assistance to Indian tribes, tribal colleges, Alaska Native corporations, certain private nonprofit organizations, SBDCs, WBCs, and private organizations participating in a joint project to create Native American business centers; and (2) each such center to conduct five-year projects for business development assistance for such entities. Provides matching funds requirements. Authorizes each business center to enter into a contract or cooperative agreement with a federal department or agency to provide specific assistance to Native American and other underserved small businesses located on or near tribal lands. Requires each center to annually provide the SBA with a cost breakdown of expenditures during the previous year. Outlines conditions for continued center funding. Directs the SBA to report to the small business committees on the effectiveness of projects conducted by such centers as well as any pilot programs administered by the Office of Native American Affairs. Requires each center receiving assistance to report annually to the Administrator on the services provided. Authorizes appropriations. (Sec. 303) Directs the CG to: (1) conduct a study of unique economic issues facing Native American business centers; and (2) report study results to Congress. (Sec. 304) Authorizes the Office of Native American Affairs to conduct a pilot program to: (1) develop and publish a self-assessment tool for Indian tribes to evaluate and implement best practices for economic development; and (2) provide assistance to Indian tribes in identifying and implementing economic development opportunities available from the federal government and private enterprise. Terminates the program at the end of FY2012. Requires a program report from the Office to the small business committees. Title IV: Veterans' Business Center Program - (Sec. 401) Directs the SBA's Associate Administrator for Veterans Business Development to establish an online mechanism to assist, and coordinate and leverage the work of, veterans' assistance providers. Requires the Administrator to establish a veterans' business center program to provide financial assistance to private nonprofit organizations to conduct five-year projects for the benefit of small businesses owned and controlled by veterans. Directs each organization receiving such assistance to establish a veterans' business center to provide specific assistance to veterans, service-disabled veterans, and reservists, as well as their spouses. Sets assistance limits at not less than $150,000 or more than $200,000 per organization per fiscal year. Provides matching funds requirements. Requires the Associate Administrator to conduct an annual examination of the programs and finances of each center, and authorizes the Associate Administrator to discontinue a center's funding under appropriate circumstances. Directs the Associate Administrator to report annually to the small business committees on the effectiveness of the program in each region. Requires the Administrator to designate at least one individual in each SBA district as a veterans business ownership representative. Authorizes appropriations. Directs the CG to submit to Congress an evaluation of the program's effectiveness. (Sec. 402) Requires the Administrator to report to Congress at least semiannually on appointments made to, and activities of, an interagency task force established for small businesses owned and controlled by veterans and service-disabled veterans. (Sec. 403) Repeals current grant provisions providing for the establishment and implementation of outreach programs for veterans, disabled veterans, and reservists and permits any organization previously awarded such a grant to apply for a grant renewal under the provisions of this Act. Title V: Program for Investment in Microentrepreneurs - (Sec. 501) Directs the SBA's Associate Administrator for Entrepreneurial Development to establish a microenterprise (four or fewer employees) training and technical assistance and capacity building services grant program of training and technical assistance to disadvantaged entrepreneurs (low- or very low-income individuals or those lacking adequate access to business capital or other essential resources). Requires the Administrator to ensure that: (1) at least 50% of grant amounts are used to benefit very low-income persons, including those residing on Indian reservations; and (2) grant recipients include organizations that serve urban, rural, and Indian tribal communities and diverse populations. Provides matching funds requirements, with an exception for severely financially constrained organizations. Outlines recordkeeping and reporting requirements for organizations receiving grant assistance. Authorizes appropriations. (Sec. 502) Makes conforming amendments, including repealing Subtitle C (Microenterprise Technical Assistance and Capacity Building Grant Program) of the Riegle Community Development and Regulatory Improvement Act of 1994. Title VI: Other Provisions - (Sec. 601) Requires SBDC grantees that are institutions of higher education to be accredited on and after December 31, 2010, unless such institution was already receiving financial assistance under an SBDC program on such date. (Sec. 602) Directs the Administrator to establish a program to make grants to resource partners to provide small businesses with information and educational materials regarding health insurance options, including coverage options within the small group market. Limits grant amounts to $5 million. Requires the Associate Administrator for Entrepreneurial Development to review the effectiveness of the grant program and report review results to the small business committees. (Sec. 603) Adds an additional member to the National Small Business Development Center Advisory Board. (Sec. 604) Provides small business information privacy requirements for SCORE chapters. (Sec. 605) Directs the President to: (1) convene a National Small Business Summit to examine present conditions and the future of U.S. small business; and (2) issue a report on summit results. (Sec. 606) Replaces all references to the Service Corps of Retired Executives with SCORE. (Sec. 607) Allows the Administrator to authorize a SBDC to provide assistance to small businesses outside the state of that SBDC, without regard to geographical proximity, if the small business is in an area for which the President has declared a major disaster. (Sec. 608) Allows the Administrator to make SBDC grants in excess of $100,000 to accommodate extraordinary events having a catastrophic impact on small businesses in a community. (Sec. 609) Requires the CG to submit to the small business committees an evaluation of pilot programs related to SBDCs. (Sec. 610) Authorizes the Administrator to establish and manage a program that: (1) provides online entrepreneurial development training which can be communicated remotely through the use of technology; and (2) includes a nationwide, online learning community of owners of small businesses and entrepreneurs, customized by state.

entrepreneurial development act title reauthorization sec amends small_business_act reauthorize fy2010 fy2012 following programs small businesses administered small_business_administration sba program small business development center sbdc program paul coverdell drug free workplace program title women small business ownership programs sec requires director currently designated assistant administrator administer programs services office assist women entrepreneurs address issues areas management operations manufacturing technology finance retail product sales international trade government contracting disciplines required starting operating increasing business women small businesses authorizes sba administrator provide annual programmatic financial oversight training women business ownership representatives sba district office technical representatives directs administrator maximize transparency women business center financial assistance proposal process programmatic financial oversight process sec revises provisions concerning women business center program recognize existence activities association represents establish minimum annual grant require administrator consult recognized association women business centers purposes training program improvement provide application criteria requirements financial assistance eligible entities program provide administrator review approval grant applications applications renewal grants specified criteria authorize appropriations program fy2010 fy2012 require prompt disbursement authorized grant funds sec amends reauthorize fy2010 fy2012 require deputy administrator sba serve chairperson chairperson appointed establish committee assist chairperson developing policies programs sec directs administrator filling position ensure equal number members major political parties requires report administrator congressional small business committees vacancy filled days imbalance days number members party sec requires comptroller general conduct study unique economic issues facing women business centers states predominately rural urban state territory island report study results congress title iii sec establishes headed assistant administrator implement sba programs development business enterprises native americans requires sba provide financial assistance indian tribes tribal colleges alaska_native corporations certain private nonprofit organizations sbdcs private organizations participating joint project create native american business centers center conduct year projects business development assistance entities provides matching funds requirements authorizes business center enter contract cooperative agreement federal department agency provide specific assistance native american underserved small businesses located near tribal lands requires center annually provide sba cost breakdown expenditures previous year outlines conditions continued center funding directs sba report small business committees effectiveness projects conducted centers pilot programs administered office_of_native_american_affairs requires center receiving assistance report annually administrator services provided authorizes appropriations sec directs conduct study unique economic issues facing native american business centers report study results congress sec authorizes office native american affairs conduct pilot program develop publish self assessment tool indian tribes evaluate implement best practices economic development provide assistance indian tribes identifying implementing economic development opportunities available federal government private enterprise terminates program end fy2012 requires program report office small business committees title sec directs sba associate_administrator veterans_business_development establish online mechanism assist coordinate leverage work veterans assistance providers requires administrator establish veterans business center program provide financial assistance private nonprofit organizations conduct year projects benefit small businesses owned controlled veterans directs organization receiving assistance establish veterans business center provide specific assistance veterans service disabled veterans reservists spouses sets assistance limits organization fiscal year provides matching funds requirements requires associate administrator conduct annual examination programs finances center authorizes associate administrator discontinue center funding appropriate circumstances directs associate administrator report annually small business committees effectiveness program region requires administrator designate individual sba district veterans business ownership representative authorizes appropriations directs submit congress evaluation program effectiveness sec requires administrator report congress semiannually appointments activities interagency task force established small businesses owned controlled veterans service disabled veterans sec repeals current grant provisions providing establishment implementation outreach programs veterans disabled veterans reservists permits organization previously awarded grant apply grant renewal provisions act title program investment microentrepreneurs sec directs sba establish microenterprise fewer employees training technical assistance capacity building services grant program training technical assistance disadvantaged entrepreneurs low- low income individuals lacking adequate access business capital essential resources requires administrator ensure grant amounts benefit low income persons including residing indian reservations grant recipients include organizations serve urban rural indian tribal communities diverse populations provides matching funds requirements exception severely financially organizations outlines recordkeeping reporting requirements organizations receiving grant assistance authorizes appropriations sec makes conforming amendments including repealing microenterprise technical assistance capacity building grant program riegle_community_development_and_regulatory improvement act title provisions sec requires sbdc grantees institutions higher education accredited december institution receiving financial assistance sbdc program date sec directs administrator establish program grants resource partners provide small businesses information educational materials health insurance options including coverage options small group market limits grant amounts million requires associate administrator entrepreneurial development review effectiveness grant program report review results small business committees sec adds additional member sec provides small business information privacy requirements score chapters sec directs president convene examine present conditions future small business issue report summit results sec replaces references service_corps_of_retired_executives score sec allows administrator authorize sbdc provide assistance small businesses outside state sbdc regard geographical proximity small business area president declared major disaster sec allows administrator sbdc grants excess accommodate extraordinary events having catastrophic impact small businesses community sec requires submit small business committees evaluation pilot programs related sbdcs sec authorizes administrator establish manage program provides online entrepreneurial development training communicated remotely use technology includes nationwide online learning community owners small businesses entrepreneurs customized state


Summary: Extends through September 30, 2009, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through July 31, 2009, under the Small Business Act or the Small Business Investment Act of 1958.

extends september terms conditions authorization program authority provision including pilot program currently authorized july small business act small_business_investment_act


Summary: Resolution Reform Act of 2009 - Amends the Federal Deposit Insurance Act to make it the responsibility of the Federal Deposit Insurance Corporation (FDIC) and its Board of Directors, using the powers and authorities conferred by this Act, to resolve depository institution holding companies of failed or failing insured depository institutions (including their affiliates and subsidiaries). Requires the FDIC to accept appointment and act as receiver of a covered depository institution holding company if it determines, in its sole discretion, that such appointment will reduce the cost to the Deposit Insurance Fund, and that specified grounds exist. Sets forth conditions for appointment of the FDIC as receiver. Permits the FDIC to decline to accept appointment for a covered depository institution holding company, when, in its sole discretion, it determines that resolution of the company would be better accomplished under either federal bankruptcy law or state insurance law. Shields the FDIC from direction or supervision of any other federal or state agency when in its status as receiver it exercises its rights, powers, and privileges. States that: (1) appointment of the FDIC as receiver terminates any proceeding under either federal bankruptcy law or state insolvency law with respect to the subject holding company; and (2) no case or proceeding may be commenced against such holding company while the FDIC acts as receiver without the written agreement of the FDIC. Permits judicial review regarding appointment of the FDIC as receiver. Sets forth the powers and duties of the FDIC as receiver. Authorizes the FDIC to make a determination of troubled condition for any covered company that does not have an appropriate federal banking agency. Authorizes the FDIC to cooperate and coordinate with foreign courts, foreign representatives, and foreign regulatory or supervisory authorities.

resolution reform act amends federal_deposit_insurance_act responsibility federal_deposit_insurance_corporation fdic board_of_directors powers authorities conferred act resolve depository institution holding companies failed failing insured depository institutions including affiliates subsidiaries requires fdic accept appointment act receiver covered depository institution holding company determines sole discretion appointment reduce cost deposit_insurance_fund specified grounds exist sets forth conditions appointment fdic receiver permits fdic decline accept appointment covered depository institution holding company sole discretion determines resolution company better accomplished federal bankruptcy law state insurance law shields fdic direction supervision federal state agency status receiver exercises rights powers privileges states appointment fdic receiver terminates proceeding federal bankruptcy law state insolvency law respect subject holding company case proceeding commenced holding company fdic acts receiver written agreement fdic permits judicial review appointment fdic receiver sets forth powers duties fdic receiver authorizes fdic determination troubled condition covered company appropriate federal banking agency authorizes fdic cooperate coordinate foreign courts foreign representatives foreign regulatory supervisory authorities


Summary: Federal Board of Certification Act of 2009 - Establishes a Federal Board of Certification to certify that the mortgages within a security instrument meet the underlying standards they claim to meet with regards to such mortgage characteristics as: (1) documentation; (2) loan to value ratios; (3) debt service to income ratios; and (4) borrower credit standards and geographic concentration. States that the purpose of this certification process is to increase the transparency, predictability, and reliability of securitized mortgage products. Authorizes market participants, including firms that package mortgage loans into mortgage securities, to elect to have their mortgage securities evaluated by the Board. Authorizes the Board to: (1) promulgate regulations establishing enumerated security standards to use in certifying mortgage securities; (2) establish uniform principles and standards and report forms for the regular examination of such securities; and (3) develop uniform reporting systems for ascertaining mortgage security risk. Grants the Board access to all books, accounts, records, reports, files, memorandums, papers, things, and property belonging to or in use by federal financial institutions regulatory agencies. Requires any publication, transmission, or webpage containing an advertisement for or invitation to buy a mortgage security to carry a disclaimer that certification by the Federal Board of Certification can in no way be considered a guarantee of the mortgage security, but is merely a judgment of the degree of risk offered by the security in question.

establishes certify mortgages security instrument meet underlying standards claim meet regards mortgage characteristics documentation loan value ratios debt service income ratios borrower credit standards geographic concentration states purpose certification process increase transparency predictability reliability securitized mortgage products authorizes market participants including firms package mortgage loans mortgage securities elect mortgage securities evaluated board authorizes board promulgate regulations establishing enumerated security standards use certifying mortgage securities establish uniform principles standards report forms regular examination securities develop uniform reporting systems mortgage security risk grants board access books accounts records reports files memorandums papers things property belonging use federal financial institutions regulatory agencies requires publication transmission webpage containing advertisement invitation buy mortgage security carry disclaimer certification way considered guarantee mortgage security merely judgment degree risk offered security question


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: Fairness and Accountability in Receiving Overdraft Coverage Act of 2009 or FAIR Overdraft Coverage Act - Amends the Truth in Lending Act to prohibit a depository institution from engaging in unfair or deceptive acts or practices in connection with overdraft coverage, or in acts designed to evade the provisions of this Act. Requires each depository institution that provides overdraft coverage for transaction accounts to clearly and conspicuously disclose overdraft coverage fees. Subjects to the consumer's written, electronic, or other consent overdraft coverage fees for withdrawals from either automated teller machines or from debit card transfers. Requires a depository institution to provide specified consumer disclosures regarding its overdraft protection program, including: (1) periodic statements for any transaction account that has an overdraft coverage program feature; and (2) prompt notification of the account's overdraft status. Prescribes overdraft coverage fee limits. Prohibits an overdraft coverage fee if the overdraft results solely from a debit hold amount that exceeds the actual dollar amount of the transaction. Requires a depository institution to provide consumers who have not consented to participate in an overdraft coverage program transaction accounts with the same terms as those provided to consumers who have consented to participate in such program. Prohibits a depository institution from charging a non-sufficient fund fee for any transaction at an automated teller machine or any debit card transaction. Prohibits a depository institution from reporting negative information regarding consumer use of overdraft coverage to any consumer reporting agency when the overdraft amounts and coverage fees are paid under the terms of an overdraft coverage program.

fairness prohibit depository institution engaging unfair deceptive acts practices connection overdraft coverage acts designed evade provisions act requires depository institution provides overdraft coverage transaction accounts clearly conspicuously disclose overdraft coverage fees subjects consumer written electronic consent overdraft coverage fees withdrawals automated teller machines debit card transfers requires depository institution provide specified consumer disclosures overdraft protection program including periodic statements transaction account overdraft coverage program feature prompt notification account overdraft status prescribes overdraft coverage fee limits prohibits overdraft coverage fee overdraft results solely debit hold exceeds actual dollar transaction requires depository institution provide consumers consented participate overdraft coverage program transaction accounts terms provided consumers consented participate program prohibits depository institution charging non sufficient fund fee transaction automated teller machine debit card transaction prohibits depository institution reporting negative information consumer use overdraft coverage consumer reporting agency overdraft amounts coverage fees paid terms overdraft coverage program


Summary: Federal Reserve Accountability Act of 2009 - Authorizes the Comptroller General to conduct reviews of (including onsite examinations), and report to Congress on, the accounting, financial reporting, and internal controls of credit facilities established by the Board of Governors of the Federal Reserve System, or any Federal Reserve bank, including when such activities are implemented by or on behalf of the Board or any official of a Federal Reserve bank. Defines "credit facilities" as: (1) the Money Market Investor Funding Facility; (2) the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility; (3) the Term Asset-Backed Securities Loan Facility; (4) the Primary Dealer Credit Facility; (5) the Commercial Paper Funding Facility; and (6) certain other credit facilities approved by the Board, as well as any special purpose vehicle through which any activity of such facilities is conducted. Requires the Board to place on its home Internet website a link entitled "Audit" to a webpage that serves as a repository of public information for not less than six months following the release of the relevant information, including: (1) the reports prepared pursuant to this Act; (2) the annual financial statements prepared by an independent auditor for the Board; and (3) any other information the Board believes is necessary or helpful to the public in understanding its accounting, financial reporting, and internal controls as well as those of the Federal Reserve banks.

federal_reserve accountability act authorizes comptroller general conduct reviews including onsite examinations report congress accounting financial reporting internal controls credit facilities established board_of_governors federal_reserve_system federal_reserve bank including activities implemented behalf board official federal_reserve bank defines credit facilities asset backed commercial paper money market mutual fund liquidity facility term asset backed securities loan facility commercial paper funding facility certain credit facilities approved board special purpose vehicle activity facilities conducted requires board place home internet website link entitled audit webpage serves repository public information months following release relevant information including reports prepared pursuant act annual financial statements prepared independent auditor board information board believes necessary helpful public understanding accounting financial reporting internal controls federal_reserve banks


Summary: Small Business Emergency Loan Relief Act of 2009 - Amends the Small Business Act and the Small Business Investment Act of 1958 to raise, until January 1, 2011, the maximum amounts of loans for the benefit of small businesses under the following Small Business Administration (SBA) programs: (1) the 7(a) program (general business loans); (2) the 504 program (loans to state and local development companies to make small business loans for plant acquisition, construction, conversion, or expansion); and (3) the Microloan program (small-scale loans to start-up, newly-established, or growing small businesses). Allows a small business owner receiving financing under the SBA local development business loan program to refinance, and add to SBA financing costs, a non-SBA indebtedness, as long as the project for which the SBA financing is approved does not involve expansion of the participant's small business. Amends the American Recovery and Reinvestment Act of 2009 to increase the maximum loan amount authorized for small businesses under the business stabilization program. Suspends certain SBA loan fees during the period beginning on the date of enactment of this Act and ending on January 1, 2011.

small business emergency loan relief act amends small business act small_business_investment_act raise january maximum amounts loans benefit small businesses following small_business_administration sba programs program general business loans program loans state local development companies small business loans plant acquisition construction conversion expansion microloan program small scale loans start newly established growing small businesses allows small business owner receiving financing sba local development business loan program refinance add sba financing costs indebtedness long project sba financing approved involve expansion participant small business amends american_recovery_and_reinvestment_act increase maximum loan authorized small businesses business stabilization program suspends certain sba loan fees period beginning date enactment act ending january


Summary: Small Business Venture Capital Act of 2009 - Amends the Small Business Act to reauthorize for FY2010-FY2013 the venture capital program under the Small Business Investment Act of 1958 (a program under which small business investment companies (SBICs) provide capital financing to small businesses). Increases the maximum amounts of outstanding leverage made available to SBICs that invest in women-owned or minority businesses. Allows SBICs who were licensed as participating securities SBICs prior to October 1, 2004, to obtain leverage based on Small Business Administration (SBA)-approved commitments rather than paid-in capital. Increases from 20% to 30% of total available private capital the maximum authorized SBIC investment in a single business (absent specific SBA approval). Requires the SBA Administrator, in selecting investment companies to participate in the New Markets Venture Capital program (NMVC program) (investment in small businesses in low-income areas), to select at least one company from each SBA geographic region. Requires the Administrator to have as a goal to enter into at least one NMVC program agreement with a company engaged primarily in the development of and investment in small manufacturers. Establishes in the Investment Division of the SBA the Office of New Markets Venture Capital. Modifies the definition of low-income geographic area to reflect the new markets tax credit under the Internal Revenue Code. Requires the Administrator to prescribe standard documents for an application for final approval of a company under the NMVC program. Allows NMVC companies to receive operational assistance grants. Requires the Administrator to grant each conditionally-approved NMVC company up to two years to raise the $5 million in private capital required for participation. Reauthorizes the NMVC program for FY2010-FY2013. Reduces the authorization for operational assistance grants.

amends small business act reauthorize fy2010 fy2013 venture capital program small_business_investment_act program small business investment companies sbics provide capital financing small businesses increases maximum amounts outstanding leverage available sbics invest women owned minority businesses allows sbics licensed participating securities sbics prior october obtain leverage based small_business_administration commitments paid capital increases total available private capital maximum authorized sbic investment single business absent specific sba approval requires sba administrator selecting investment companies participate program program investment small businesses low income areas select company sba geographic region requires administrator goal enter program agreement company engaged primarily development investment small manufacturers establishes modifies definition low income geographic area reflect new markets tax credit internal revenue code requires administrator prescribe standard documents application final approval company program allows companies receive operational assistance grants requires administrator grant conditionally approved company years raise million private capital required participation reauthorizes program fy2010 fy2013 reduces authorization operational assistance grants


Summary: Extends through January 31, 2010, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through October 31, 2009, under the Small Business Act or the Small Business Investment Act of 1958.

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


Summary: Mutual Fund Transparency Act of 2009 - Amends the Securities Exchange Act of 1934 and the Investment Company Act of 1940 to require brokers and dealers of mutual funds to disclose in writing the related commissions they receive to purchasers of shares of any registered open-end or closed-end company or any interest in a registered unit investment trust or municipal securities used for education savings plans. Amends the Investment Company Act of 1940 to: (1) reduce from 60% to 25% the membership of the board of directors of a mutual fund that may be composed of "interested persons"; (2) prohibit such board from having an interested person as chairman; (3) prohibit requiring the vote of a director who is an "interested person" of the mutual company; and (4) require a mutual fund company to have a committee composed solely of "non-interested persons" responsible for selecting nominees for election to the board and for adopting qualification standards for such nominations. Requires the Securities and Exchange Commission (SEC) to issue final rules: (1) redefining the term "significant service provider" to include the investment adviser and principal underwriter of a mutual fund; and (2) declaring that brokers and dealers have a certain fiduciary duty in providing investment advice to retail clients, including the duty to act solely in the best interest of the client without regard to the financial or other interest of the broker or dealer. Requires the SEC to study and report to certain congressional committees on designated topics, including: (1) the level of financial literacy among purchasers of open-end companies; (2) information that investors need to make sound financial decisions prior to share purchases; and (3) methods to increase transparency of expenses and potential conflicts of interest in transactions involving shares of open-end companies. Directs the Comptroller General to study and report to certain congressional committees on mutual fund advertising, including: (1) current marketing sales practices, especially the use of unsustainable past performance data; and (2) recommendations to improve investor protections in mutual fund advertising.

transparency act amends securities exchange act investment company act require brokers dealers mutual funds disclose writing related commissions receive purchasers shares registered open end closed end company interest registered unit investment trust municipal securities education savings plans amends investment company act reduce membership board directors mutual fund composed interested persons prohibit board having interested person chairman prohibit requiring vote director interested person mutual company require mutual fund company committee composed solely non interested persons responsible selecting nominees election board adopting qualification standards nominations requires securities_and_exchange_commission sec issue final rules redefining term significant service provider include investment adviser principal underwriter mutual fund declaring brokers dealers certain fiduciary duty providing investment advice retail clients including duty act solely best interest client regard financial interest broker dealer requires sec study report certain congressional committees designated topics including level financial literacy purchasers open end companies information investors need sound financial decisions prior share purchases methods increase transparency expenses potential conflicts interest transactions involving shares open end companies directs comptroller_general study report certain congressional committees mutual fund advertising including current marketing sales practices especially use unsustainable past performance data recommendations improve investor protections mutual fund advertising


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 included on such list so that their failure would no longer cause a catastrophic effect on the United States 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 included list failure longer cause catastrophic effect united_states global economy taxpayer bailout


Summary: Express Loan Improvements Act of 2009 - Amends provisions of the Small Business Act relating to the Express Loan Program to: (1) increase (for a two-year period) from 50% to 75% the maximum percentage of such loan that may be guaranteed by the Small Business Administration (SBA); and (2) increase from $350,000 to $1 million the maximum loan amount.

express loan improvements act amends provisions small_business_act relating increase year period maximum percentage loan guaranteed small_business_administration sba increase million maximum loan


Summary: Amends the Community Development Banking and Financial Institutions Act of 1994 to establish the Community Development Financial Institutions (CDFI) Small Dollar Loan-Loss Guarantee Fund to defray the cost of losses on specified qualifying consumer loans (not exceeding $2500) made by certain CDFIs and institutions whose primary mission is to serve low- to moderate-income individuals. Authorizes appropriations to implement the program and to provide technical assistance grants to applicants to develop and support a small dollar loan program. Authorizes the Administrator of the CFDI Fund to borrow from the Treasury as necessary to maintain Fund solvency.

amends financial institutions act establish defray cost losses specified qualifying consumer loans exceeding certain institutions primary mission serve low- moderate income individuals authorizes appropriations implement program provide technical assistance grants applicants develop support small dollar loan program authorizes administrator borrow treasury necessary maintain fund solvency


Summary: Banking Integrity Act of 2009 - Amends the Banking Act of 1933 (Glass-Steagall Act) to prohibit a member bank from being affiliated with specified organizations engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debenture, notes, or other securities. Prohibits the staff and personnel of corporations and partnerships (as well as any individual) primarily engaged in the issue, flotation, underwriting, public sale, or distribution, of stocks, bonds, or other similar securities, from serving simultaneously as an officer, director, or employee of any member bank of the Federal Reserve System. Authorizes the Board of Governors of the Federal Reserve System to grant limited exceptions. Prohibits a depository institution from engaging in the business of insurance or any insurance-related activity.

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


Summary: United States Employee Ownership Bank Act - Directs the Secretary of the Treasury to establish the United States Employee Ownership Bank to foster increased employee ownership and greater employee participation in company decision making throughout the United States. Authorizes the Bank to make loans, on a direct or guaranteed basis, and which may be subordinated to the interests of all other creditors, to employees to purchase a company through an employee stock ownership plan or eligible worker-owned cooperative which is at least 51% employee owned, or will become so as a result of Bank assistance. Authorizes the bank also to allow: (1) a company that is less than 51% employee owned to become at least 51% employee owned; and (2) allow a company that is already at least 51% employee owned to increase the level of employee ownership, expand operations, and increase or preserve employment. Amends the Worker Adjustment and Retraining Notification Act to require the employer, if it orders a plant or facility closing in connection with the termination of its operations there, to offer its employees an opportunity to purchase such plant or facility through an employee stock ownership plan or an eligible worker-owned cooperative that is at least 51% employee owned. Exempts from such requirement an employer that orders a plant closing: (1) but will retain the plant assets to continue or begin a business within the United States; or (2) intends to continue the business conducted at such plant at another plant within the United States. Amends the Community Reinvestment Act of 1977 to authorize the appropriate federal financial supervisory agency, in assessing and taking into account the record of a financial institution during an examination, to consider capital investments, loans, loan participation, technical assistance, financial advice, grants, and other ventures undertaken by the institution to support or enable employees to establish employee stock ownership plans or eligible worker-owned cooperatives that are at least 51% employee-owned.

united_states employee ownership bank act directs secretary treasury establish united_states employee ownership bank foster increased employee ownership greater employee participation company decision making united_states authorizes bank loans direct guaranteed basis subordinated interests creditors employees purchase company employee stock ownership plan eligible worker owned cooperative employee owned result bank assistance authorizes bank allow company employee owned employee owned allow company employee owned increase level employee ownership expand operations increase preserve employment amends require employer orders plant facility closing connection termination operations offer employees opportunity purchase plant facility employee stock ownership plan eligible worker owned cooperative employee owned exempts requirement employer orders plant closing retain plant assets continue begin business united_states intends continue business conducted plant plant united_states amends community reinvestment act authorize appropriate federal financial supervisory agency assessing taking account record financial institution examination consider capital investments loans loan participation technical assistance financial advice grants ventures undertaken institution support enable employees establish employee stock ownership plans eligible worker owned cooperatives employee owned


Summary: Helping Small Business Succeed Act of 2009 - Amends the Small Business Act to increase maximum amounts of loans under the section 7(a) guaranteed loan program and the Microloan Program. Amends the Small Business Investment Act of 1958 to increase maximum amounts of loans to state and local development companies for plant acquisition, construction, conversion, and expansion. Increases the maximum loan guarantee percentage under the 7(a) program, effective until October 3, 2011. Amends the American Recovery and Reinvestment Act of 2009 to extend through such date the authority to extend increased loan guarantees to small business lenders and to eliminate certain loan fees. Authorizes the Administrator of the Small Business Administration (SBA), through such date, to make loans to small businesses located in an economic disaster area. Amends the Emergency Economic Stabilization Act of 2008 to direct the Secretary of the Treasury to transfer to the Administrator necessary amounts to carry out this Act.

helping small business succeed act amends small business act increase maximum amounts loans section guaranteed loan program amends small_business_investment_act increase maximum amounts loans state local development companies plant acquisition construction conversion expansion increases maximum loan guarantee percentage program effective october amends american_recovery_and_reinvestment_act extend date authority extend increased loan guarantees small business lenders eliminate certain loan fees authorizes administrator small_business_administration sba date loans small businesses located economic disaster area amends emergency_economic_stabilization_act direct secretary treasury transfer administrator necessary amounts carry act


Summary: Directs the Comptroller General to complete, not later than 12 months after enactment of this Act, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress.

directs comptroller general complete later months enactment act audit board_of_governors federal_reserve_system federal reserve banks followed detailed report congress


Summary: Boosting Entrepreneurship and New Jobs Act - Amends the Internal Revenue Code to: (1) allow certain small businesses a refundable tax credit for 15% of the first-year wages paid to new employees and a business-related tax credit for employee health insurance expenses; and (2) impose an additional tax on individuals with modified adjusted gross incomes exceeding $500,000 ($1 million for married couples filing a joint tax return) sufficient to render the provisions of this Act budget neutral. Directs the Administrator of the Small Business Administration (SBA) and the Secretary of the Treasury to jointly establish a loan program for small business concerns (i.e., businesses with fewer than 25 employees). Amends the Small Business Act to expand: (1) the authority of the Administrator to guarantee small business loans; and (2) the microloan program for women, low-income individuals, veterans, and minority entrepreneurs. Amends the American Recovery and Reinvestment Act of 2009 to obligate to be expended by September 30, 2010, certain funds for research and development by the National Institutes of Health (NIH). Amends the Small Business Investment Act of 1958 to increase the maximum loan amounts available to small businesses for plant acquisition, construction, conversion, and expansion. Expresses the sense of Congress that: (1) the President should designate the SBA Administrator as a member of the Cabinet; and (2) financial institutions that have received financial assistance from the federal government should provide needed capital and loans to small business concerns.

entrepreneurship new jobs act amends internal revenue code allow certain small businesses refundable tax credit year wages paid new employees business related tax credit employee health insurance expenses impose additional tax individuals modified adjusted gross incomes exceeding million married couples filing joint tax return sufficient render provisions act budget neutral directs administrator small_business_administration sba secretary treasury jointly establish loan program small business concerns businesses fewer employees amends small_business_act expand authority administrator guarantee small business loans microloan program women low income individuals veterans minority entrepreneurs amends american_recovery_and_reinvestment_act obligate expended september certain funds research development national_institutes_of_health nih amends small_business_investment_act increase maximum loan amounts available small businesses plant acquisition construction conversion expansion expresses sense congress president designate sba administrator member cabinet financial institutions received financial assistance federal government provide needed capital loans small business concerns


Summary: Amends the Internal Revenue Code to provide for tax preferred Small Business Startup 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: Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010 - Establishes the Systemic Resolution Fund, to be administered by the Federal Deposit Insurance Corporation (FDIC), to: (1) cover the costs of the FDIC, including as receiver, in exercising its rights, authorities, and powers, and in fulfilling its obligations and responsibilities; (2) repay initial capitalization appropriations; and (3) cover the costs of systemic stabilization purposes. Prohibits the use of amounts in the Fund to convert or maintain a financial company that is insolvent or in receivership, except to the extent necessary to insure systemic stabilization in the company's resolution. Requires all amounts assessed against a financial company under this Act to be deposited into the Fund. Directs the FDIC to: (1) impose assessments on financial companies for Fund maintenance and, if need be, replenishment; and (2) establish a mechanism whereby the systemic risk regulator reallocates annually the assessments for the Fund among all the systemically risky financial companies. Prohibits the FDIC from imposing an assessment on any financial company which it determines does not pose a systemic risk to the U.S. financial system.

ending taxpayer bailouts making wall street pay act establishes administered federal_deposit_insurance_corporation fdic cover costs fdic including receiver exercising rights authorities powers fulfilling obligations responsibilities repay initial capitalization appropriations cover costs systemic stabilization purposes prohibits use amounts fund convert maintain financial company insolvent receivership extent necessary insure systemic stabilization company resolution requires amounts assessed financial company act deposited fund directs fdic impose assessments financial companies fund maintenance need replenishment establish mechanism systemic risk regulator annually assessments fund systemically financial companies prohibits fdic imposing assessment financial company determines pose systemic risk financial system


Summary: Wall Street Compensation Reform Act of 2010 - Amends the Internal Revenue Code to restrict the tax deduction for compensation paid to highly-paid employees of systemically significant financial institutions. Requires such compensation to be performance-based, to vest no earlier than five years after the date of payment, and to consist of 50% employer stock. Prohibits such highly-paid employees from using personal hedging strategies and remuneration or liability-related insurance and requires forfeiture of compensation paid to a chief executive or financial officer of such an institution if an accounting restatement is required due to material noncompliance, as a result of misconduct, with any federal financial reporting requirement. Defines a "systemically significant financial institution" as an entity which engages primarily in financial activities (as determined under the Bank Holding Company Act of 1956) and which: (1) owns or controls assets greater than $25 billion; or (2) owns or controls assets greater than $10 billion and maintains a ratio of debt to equity greater than 20 to 1. Requires each systemically significant financial institution which is a publicly held corporation to make an annual report on its compensation policies and practices to the Securities and Exchange Commission (SEC) and make such report publicly available.

wall street compensation reform act amends internal revenue code restrict tax deduction compensation paid highly paid employees systemically significant financial institutions requires compensation performance based vest earlier years date payment consist employer stock prohibits highly paid employees personal hedging strategies remuneration liability related insurance requires forfeiture compensation paid chief executive financial officer institution accounting restatement required material noncompliance result misconduct federal financial reporting requirement defines systemically significant financial institution entity engages primarily financial activities determined bank_holding_company_act owns controls assets greater billion owns controls assets greater billion maintains ratio debt equity greater requires systemically significant financial institution publicly held corporation annual report compensation policies practices securities_and_exchange_commission sec report publicly available


Summary: Restoring American Financial Stability Act of 2010 - Financial Stability Act of 2010 - Establishes the Financial Stability Oversight Council to: (1) identify risks to the financial stability of the United States; (2) promote market discipline; and (3) respond to emerging threats to the stability of the United States financial markets. Establishes within the Department of the Treasury: (1) the Office of Financial Research (Office) to support the Financial Stability Oversight Council; and (2) the Financial Research Fund to fund the Office. Grants the Board of Governors of the Federal Reserve System (Board) additional authority to require reports and conduct examinations of certain nonbank financial companies and bank holding companies. Revises supervision and prudential standards for nonbank financial companies supervised by the Board and for certain bank holding companies. Establishes in the U.S. Bankruptcy Court for the District of Delaware an Orderly Liquidation Authority Panel to authorize the Secretary of the Treasury (Secretary), under specified circumstances, to appoint the Federal Deposit Insurance Corporation (FDIC) as receiver of a financial company in default or in danger of default whose failure would have serious adverse effects on financial stability in the United States. Enhancing Financial Institution Safety and Soundness Act of 2010 - Transfers all functions of the Office of Thrift Supervision (OTS) and the OTS Director to the Board, to the Office of the Comptroller of the Currency, and to the FDIC. Abolishes OTS. Prohibits the issuance of charters for federal savings associations. Private Fund Investment Advisers Registration Act of 2010 - Amends the Investment Advisers Act of 1940 with respect to: (1) the regulation of advisers to hedge funds; (2) collection of systemic risk data; and (3) the asset threshold for federal registration of investment advisers. Office of National Insurance Act of 2010 - Establishes within the Department of the Treasury the Office of National Insurance to monitor all aspects of the insurance industry, including identification of issues or gaps in the regulation of insurers that could contribute to a systemic crisis in the insurance industry or the United States financial system. Nonadmitted and Reinsurance Reform Act of 2010 - Sets forth procedures for: (1) reporting, payment, and allocation of nonadmitted insurance premium taxes; and (2) regulation of credit for reinsurance and reinsurance agreements. Bank and Savings Association Holding Company and Depository Institution Regulatory Improvements Act of 2010 - Imposes a moratorium upon FDIC provision of federal deposit insurance for credit card banks, industrial loan companies, and certain other companies under the Bank Holding Company Act of 1956. Amends the Bank Holding Company Act of 1956 to revise requirements for reports, examinations, and regulation of functionally regulated subsidiaries, including concentration limits on large financial institutions. Over-the-Counter Derivatives Markets Act of 2010 - Amends the Commodity Exchange Act to: (1) extend joint rulemaking and regulatory authority of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) to over-the-counter derivatives markets; and (2) require large swap trader reporting. Amends the Gramm-Leach-Bliley Act to repeal the prohibition against the regulation of security-based swaps. Amends the Securities Exchange Act of 1934 to set forth: (1) clearing requirements for security-based swaps; (2) registration and regulation procedures governing security-based swap dealers and major security-based swap participants; and (3) position limits and position accountability for security-based swaps. Directs the SEC, the CFTC, the Financial Stability Oversight Council, and the Treasury Department, individually and collectively, to consult and coordinate with foreign regulatory authorities on the establishment of consistent international standards with respect to the regulation of certain SWAPS. Payment, Clearing, and Settlement Supervision Act of 2010 - Directs the Financial Stability Oversight Council to designate those financial market utilities or payment, clearing, or settlement activities which it determines are, or are likely to become, systemically important. Sets forth procedures governing examination of and enforcement actions against financial institutions subject to standards for designated activities, including: (1) financial and operational risks such activities may pose to other financial institutions, critical markets, or the broader financial system; and (2) information to assess systemic importance of financial institutions engaged in payment, clearing, or settlement activities. Amends the Securities Exchange Act of 1934 to: (1) establish the Investor Advisory Committee and the Office of the Investor Advocate; (2) authorize the SEC to restrict mandatory predispute arbitration; (3) prescribe securities whistleblower incentives and protection; and (4) revise regulation, accountability, and transparency of nationally recognized statistical rating organizations (NRSROs). Amends the Securities Investor Protection Act of 1970 to increase the borrowing limit on Treasury loans. Amends the Securities Exchange Act of 1934 to: (1) direct the federal banking agencies and the SEC to prescribe joint regulations to require any securitizer to retain an economic interest in a portion of the credit risk for any asset that the securitizer, through the issuance of an asset-backed security, transfers, sells, or conveys to a third party; (2) require procedures for annual shareholder approval of executive compensation; and (3) require disclosures regarding employee and director hedging. Requires the SEC to report to certain congressional committees regarding: (1) its conduct of examinations of registered entities, enforcement investigations, and review of corporate financial securities filings; and (2) its oversight of national securities associations. Prescribes standards for: (1) corporate governance; and (2) regulation of municipal securities and changes to the Municipal Securities Rulemaking Board. Establishes in the SEC the Office of Municipal Securities. Amends the Sarbanes-Oxley Act of 2002 to authorize the Public Company Accounting Oversight Board to share certain information with foreign authorities. Amends the FDIA to direct the Inspector General of each federal banking agency to report to Congress semiannually on certain losses to the Deposit Insurance Fund. Instructs the Comptroller General to study and report to Congress on the risks and conflicts associated with proprietary trading by and within specified entities. Directs the Office of Financial Literacy of the Bureau to establish a program to make grants to states for enhanced protection of seniors from being misled by false designations. Consumer Financial Protection Act of 2010 - Establishes: (1) in the Federal Reserve System the Bureau of Consumer Financial Protection (Bureau) to regulate the offering and provision of consumer financial products or services under the federal consumer financial laws; (2) the Office of Fair Lending and Equal Opportunity; (3) the Office of Financial Literacy; and (4) the Consumer Advisory Board. Grants the Bureau supervisory powers and enforcement authority over certain large-sized insured depository institutions and insured credit unions. Excludes from Bureau oversight certain merchants, retailers and other sellers of nonfinancial goods or services. Grants the Bureau specific authorities, including prohibiting unfair, deceptive, or abusive acts or practices. Transfers to the Bureau specified consumer financial protection functions. Prescribes requirements for collection of deposit account data. Amends the Equal Credit Opportunity Act regarding small business loan data collection. Amends the Truth in Lending Act to prohibit certain prepayment penalties. Amends the Federal Reserve Act with respect to emergency lending authority. Authorizes the Comptroller General, under specified circumstances, to conduct reviews of the Federal Reserve Board, a federal reserve bank, or a credit facility. Improving Access to Mainstream Financial Institutions Act of 2010 - Authorizes the Secretary to establish a multiyear program of grants, cooperative agreements, financial agency agreements, and similar contracts or undertakings to promote initiatives to enable low- and moderate-income individuals to: (1) to establish one or more accounts in a federally insured depository institution that are appropriate to meet their financial needs; and (2) gain improved access to the provision of accounts on reasonable terms.

financial stability act establishes financial stability oversight council identify risks financial stability united_states promote market discipline respond emerging threats stability united_states financial markets establishes department_of_the_treasury support financial_stability_oversight_council fund office federal_reserve_system board additional authority require reports conduct examinations certain nonbank financial companies bank holding companies revises supervision prudential standards nonbank financial companies supervised board certain bank holding companies establishes district delaware authorize secretary treasury secretary specified circumstances appoint federal_deposit_insurance_corporation fdic receiver financial company default danger default failure adverse effects financial stability united_states soundness act transfers functions office_of_thrift_supervision ots ots director board office_of_the_comptroller_of_the_currency fdic abolishes ots prohibits issuance charters federal savings associations registration act amends investment advisers act respect regulation advisers hedge funds collection systemic risk data asset threshold federal registration investment advisers establishes monitor aspects insurance industry including identification issues gaps regulation insurers contribute systemic crisis insurance industry united_states financial system nonadmitted reinsurance reform act sets forth procedures reporting payment allocation nonadmitted insurance premium taxes regulation credit reinsurance reinsurance agreements imposes moratorium fdic provision federal deposit insurance credit card banks industrial loan companies certain companies bank_holding_company_act amends bank_holding_company_act revise requirements reports examinations regulation functionally regulated subsidiaries including concentration limits large financial institutions amends commodity_exchange_act extend joint rulemaking regulatory authority commodity_futures_trading_commission cftc securities_and_exchange_commission sec counter derivatives markets require large swap trader reporting amends gramm leach bliley act repeal prohibition regulation security based swaps amends securities_exchange_act set forth clearing requirements security based swaps registration regulation procedures governing security based swap dealers major security based swap participants position limits position accountability security based swaps directs sec cftc financial_stability_oversight_council individually collectively consult coordinate foreign regulatory authorities establishment consistent international standards respect regulation certain swaps payment clearing settlement supervision act directs financial stability oversight council designate financial market utilities payment clearing settlement activities determines likely systemically important sets forth procedures governing examination enforcement actions financial institutions subject standards designated activities including financial operational risks activities pose financial institutions critical markets broader financial system information assess systemic importance financial institutions engaged payment clearing settlement activities amends securities_exchange_act establish authorize sec restrict mandatory predispute arbitration prescribe securities whistleblower incentives protection revise regulation accountability transparency nationally recognized statistical rating organizations nrsros amends increase borrowing limit treasury loans amends securities_exchange_act direct federal banking agencies sec prescribe joint regulations require securitizer retain economic interest portion credit risk asset securitizer issuance asset backed security transfers sells conveys party require procedures annual shareholder approval executive compensation require disclosures employee director hedging requires sec report certain congressional committees conduct examinations registered entities enforcement investigations review corporate financial securities filings oversight national securities associations prescribes standards corporate governance regulation municipal securities changes municipal_securities_rulemaking_board establishes sec amends sarbanes oxley act authorize public_company_accounting_oversight_board share certain information foreign authorities amends fdia direct inspector general federal banking agency report congress semiannually certain losses deposit_insurance_fund instructs comptroller general study report congress risks conflicts associated proprietary trading specified entities directs establish program grants states enhanced protection seniors false designations consumer financial protection act establishes regulate offering provision consumer financial products services federal consumer financial laws grants bureau supervisory powers enforcement authority certain large sized insured depository institutions insured credit unions excludes bureau oversight certain merchants retailers sellers nonfinancial goods services grants bureau specific authorities including prohibiting unfair deceptive abusive acts practices transfers bureau specified consumer financial protection functions prescribes requirements collection deposit account data amends equal_credit_opportunity_act small business loan data collection amends truth lending act prohibit certain prepayment penalties amends federal_reserve_act respect emergency lending authority authorizes comptroller general specified circumstances conduct reviews federal_reserve_board federal reserve bank credit facility authorizes secretary establish multiyear program grants cooperative agreements financial agency agreements similar contracts promote initiatives enable low- moderate income individuals establish accounts federally insured depository institution appropriate meet financial needs gain improved access provision accounts reasonable terms


Summary: Small Business Innovation to Job Creation Act of 2010 - Authorizes the Administrator of the Small Business Administration (SBA) to make grants to small businesses to commercialize research developed by such businesses using funds received under the second phase of the Small Business Innovation Research Program (a program under which a portion of a federal agency's research and development effort is reserved for award to small businesses). Terminates the grant program at the end of FY2011.

small business innovation job creation act authorizes administrator small_business_administration sba grants small businesses research developed businesses funds received second phase program portion federal agency research development effort reserved award small businesses terminates grant program end fy2011