Summary:
Taxpayer Protection and Responsible Resolution Act - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal Title II (Orderly Liquidation Authority), governing the bankruptcy of financial institutions.

Makes conforming amendments to the Federal Deposit Insurance Act and the Federal Reserve Act.

Amends federal bankruptcy law to add "Chapter 14 - Liquidation, Reorganization, or Recapitalization of A Covered Financial Corporation," setting forth requirements and prohibitions regarding: (1) commencement of a case concerning a covered financial corporation; (2) a special trustee and bridge company; (3) special transfer of the property of the estate in bankruptcy; (4) treatment of qualified financial contracts and affiliate contracts; (5) licenses, permits, and registrations; (6) exemption from securities laws; and (7) inapplicability of certain avoiding powers.

Defines "covered financial corporation" as one incorporated or organized under any federal or state law (other than a stockbroker, a commodity broker, or a domestic or foreign insurance company or financial institution meeting certain criteria) that is: (1) a bank holding company, or (2) predominantly engaged in activities that the Board of Governors of the Federal Reserve System has determined are financial in nature or incidental to such financial activity.

Amends the Judicial Code to require the Chief Justice of the United States to designate: (1) at least one district judge from each circuit to be available to hear appeals in a bankruptcy case concerning a covered financial corporation; and (2) a panel of at least 10 bankruptcy judges who are experts in title 11 cases in which a financial institution is a debtor, to be available also to hear a case under Chapter 14.

Prescribes requirements for the assignment of bankruptcy judges to Chapter 14 cases.

Amends the Federal Reserve Act to prohibit a Federal Reserve bank from making advances for the purpose of providing debtor-in-possession financing to either: (1) a bridge company, or (2) a covered financial corporation that is a debtor in a pending case under Chapter 14.

dodd frank wall street reform consumer protection act repeal title orderly liquidation authority governing bankruptcy financial institutions makes conforming amendments federal_deposit_insurance_act federal_reserve_act amends federal bankruptcy law add chapter liquidation reorganization setting forth requirements prohibitions commencement case concerning covered financial corporation special trustee bridge company special transfer property estate bankruptcy treatment qualified financial contracts affiliate contracts licenses permits registrations exemption securities laws inapplicability certain avoiding powers defines covered financial corporation incorporated organized federal state law commodity broker domestic foreign insurance company financial institution meeting certain criteria bank holding company predominantly engaged activities board_of_governors federal_reserve_system determined financial nature incidental financial activity amends judicial code require chief justice united_states designate district judge circuit available hear appeals bankruptcy case concerning covered financial corporation panel bankruptcy judges experts title cases financial institution debtor available hear case chapter prescribes requirements assignment bankruptcy judges chapter cases amends federal reserve act prohibit federal_reserve bank making advances purpose providing debtor possession financing bridge company covered financial corporation debtor pending case chapter


Summary:
Fairness for Community Job Creators Act - Amends the Bank Holding Company Act of 1956 relating to prohibitions on proprietary trading and certain relationships with hedge and private equity funds (Volcker Rule).

Prohibits any construction of these prohibitions to require divestiture of collateralized debt obligations backed by trust-preferred securities or debt securities of collateralized loan obligations, if those collateralized debt obligations or collateralized loan obligations were issued before December 10, 2013.

fairness community job act amends bank_holding_company_act relating prohibitions proprietary trading certain relationships hedge private equity funds volcker rule prohibits construction prohibitions require divestiture collateralized debt obligations backed trust preferred securities debt securities collateralized loan obligations collateralized debt obligations collateralized loan obligations issued december


Summary:
Amends the Bank Holding Company Act of 1956 regarding prohibitions on proprietary trading and certain relationships with hedge and private equity funds (Volcker Rule).

Prohibits the construction of these prohibitions to require either a banking entity with total consolidated assets of less than $50 billion or a mutual holding company to divest from a collateralized debt obligation issued before May 19, 2010, if: (1) the primary purpose for the obligation was as a vehicle for trust preferred securities, and (2) the investment in the obligation was made on or before December 10, 2013.

amends bank_holding_company_act prohibitions proprietary trading certain relationships hedge private equity funds volcker rule prohibits construction prohibitions require banking entity total consolidated assets billion mutual holding company divest collateralized debt obligation issued primary purpose obligation vehicle trust preferred securities investment obligation december


Summary:
Helping Expand Lending Practices in Rural Communities Act of 2014 or the HELP Rural Communities Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to direct the Consumer Financial Protection Bureau (CFPB) to establish an application process under which a person who lives or does business in a state may apply to have a county designated as a rural area for purposes of a federal consumer financial law.

Prescribes criteria for the CFPB to consider when evaluating such an application.

Requires the CFPB to enter each such application into a sortable, downloadable database publicly accessible through its website.

helping expand lending practices rural communities act amends dodd frank wall street reform consumer protection act direct consumer_financial_protection_bureau cfpb establish application process person lives business state apply county designated rural area purposes federal consumer financial law prescribes criteria cfpb consider evaluating application requires cfpb enter application downloadable database publicly accessible website


Summary:
Title I: Homeowner Flood Insurance Affordability Act - Homeowner Flood Insurance Affordability Act of 2014 - (Sec. 103) Prohibits the Administrator of the Federal Emergency Management Agency (FEMA) from implementing during a specified six-month period a requirement of the National Flood Insurance Act of 1968 (NFIA) that would: (1) increase flood insurance risk premium rates to reflect the current risk of flood for property located in specified areas subject to a certain mandatory premium adjustment, or (2) a prohibition against extending subsidies for property not insured by the flood insurance program as of July 6, 2012 (the date of enactment of the Biggert-Waters Flood Insurance Reform Act of 2012), or any policy that has lapsed because the property was no longer being required to retain coverage (Pre-Flood Insurance Rate Map or pre-FIRM properties).

(A pre-FIRM property contains a structure neither constructed nor substantially improved after the later of December 31, 1974, or the effective date of the initial flood insurance rate map published by the FEMA Administrator under NFIA for the pertinent area.) Declares that such prohibitions shall expire six months after the later of: (1) the date on which the Administrator proposes a certain draft flood insurance affordability framework; or (2) the date on which the Administrator certifies to Congress that FEMA has implemented a flood mapping approach that, when applied, results in technically credible flood hazard data in all areas where Flood Insurance Rate Maps are prepared or updated.

Amends NFIA to prohibit the Administrator from providing flood insurance to prospective insureds at rates less than those estimated for any property purchased after the expiration of such six-month period (currently, any property purchased after July 6, 2012).

Prohibits FEMA from reducing the risk premium rate subsidy for flood insurance for property purchased on or before the expiration of the six-month period set forth in this Act based on the fact that: (1) the property was not insured by the flood insurance program as of July 6, 2012; or (2) on or before the expiration of that six-month period the policy for the property had lapsed in coverage as a result of the deliberate choice of the policy holder because the property was no longer required to retain coverage.

Directs FEMA to: (1) restore during that six-month period specified estimated risk premium rate subsidies for flood insurance for properties denied an extension of subsidy, and (2) submit to certain congressional committees a draft affordability framework addressing the affordability of flood insurance sold under the National Flood Insurance Program.

Permits FEMA to enter into an agreement with another federal agency either to complete the affordability study or prepare the draft affordability framework.

Directs FEMA to make publicly available, no later than six months before implementation of specified rate changes in flood insurance risk premiums resulting from both the Biggert-Waters Flood Insurance Reform Act of 2012, and from this Act, the rate tables and underwriting guidelines that provide the basis for such changes.

Directs FEMA, within 90 days after enactment of this Act, to report to Congress on the feasibility of: (1) releasing property-level policy and claims data for NFIP flood insurance coverage, and (2) establishing guidelines for releasing such data in accordance with the Privacy Act of 1974.

(Sec. 104) Directs FEMA submit to certain congressional committees: (1) the draft affordability study; and (2) the report on an economic analysis of the costs and benefits to the federal government of a flood insurance program with full risk-based premiums, combined with means-tested federal assistance to aid individuals who cannot afford coverage, through an insurance voucher program.

(Sec. 105) Amends the Biggert-Waters Flood Insurance Reform Act of 2012 to repeal the ceiling on the funding for the draft affordability study and report, making available such amounts as may be necessary.

(Sec. 106) Amends the NFIA to: (1) authorize FEMA to reimburse homeowners for successful map appeals resolved by submission of conflicting data to the Scientific Resolution Panel, and (2) repeal the ceiling on the amount of funds FEMA may use to make such reimbursements to a community for successful appeals.

(Sec. 107) Makes any community that has made adequate progress on the construction (as under current law) or reconstruction (new) of a flood protection system which will afford flood protection for the one-hundred year frequency flood eligible for flood insurance at premium rates not exceeding those which would apply if such flood protection system had been completed.

Revises guidelines governing availability of flood insurance in communities restoring disaccredited flood protection systems to include riverine and coastal levees.

(Sec. 108) Requires FEMA to: (1) rate a covered structure using the elevation difference between the floodproofed elevation of the covered structure and its adjusted base flood elevation; and (2) designate a Flood Insurance Advocate to advocate for the fair treatment of policy holders under the National Flood Insurance Program and property owners in the mapping of flood hazards, the identification of risks from flood, and the implementation of measures to minimize the risk of flood.

(Sec. 110) Amends the Flood Disaster Protection Act of 1973, as amended by the Biggert-Waters Flood Insurance Reform Act of 2012, with respect to the limitation on the requirement that a federal entity for lending regulation require all NFIA payments be made periodically to a regulated lending institution or mortgage loan servicer, which shall deposit them into an escrow account.

Applies the payment and escrow requirements, and the limitation on them, to any loan originated, refinanced, increased, extended, or renewed on or after January 1, 2016.

Revises the limitation prohibiting a federal entity for lending regulation, in certain circumstances, from requiring a regulated lending institution to deposit NFIA payments in an escrow account. Extends the reach of that prohibition to loans that are: (1) junior or subordinate to a senior lien secured by the same residential improved real estate or mobile home for which flood insurance is being provided at the time of the loan's origination; (2) secured by residential improved real estate or a mobile home that is part of a condominium, cooperative, or other project development in certain circumstances; (3) secured by residential improved real estate or a mobile home used as collateral for a business purpose; (4) home equity lines of credit; (5) nonperforming loans; or (6) loans with terms not longer than 12 months.

Directs such a federal entity for lending regulation to require a regulated lending institution or servicer of an outstanding mortgage loan to give a borrower the option of having flood insurance NFIA premiums and fees payments made periodically to a regulated lending institution or mortgage loan servicer, which may also deposit them in an escrow account.

(Sec. 111) Amends the NFIA to require FEMA to give policyholders not required to escrow their flood insurance premiums and fees the option of paying premiums in installments that are monthly or otherwise more frequent than annually.

(Sec. 112) Requires flood insurance premium rates to be based in part on consideration of the flood mitigation activities that an owner or lessee has undertaken on a property, including differences in the risk involved due to land use measures, floodproofing, flood forecasting, and similar measures.

(Sec. 113) Prohibits FEMA from estimating flood insurance premium rates for property which as of July 6, 2012, has experienced or sustained substantial improvement exceeding 50% (currently only 30%) of its fair market value.

(Sec. 114) Requires FEMA to assess options, methods, and strategies for making available through the NFIP voluntary community-based flood insurance policies.

Directs the Comptroller General (GAO) to analyze the report on the assessment.

(Sec. 115) Exempts from a review or processing fee any requester for a flood insurance rate map change based on a habitat restoration project funded in whole or in part with federal or state funds, including dam removal, culvert redesign or installation, or the installation of fish passage.

(Sec. 116) Requires FEMA to: (1) issue guidelines for property owners that provide alternative methods of mitigation (other than building elevation) to reduce flood risk to urban residential buildings that cannot be elevated due to their structural characteristics; and (2) inform property owners about how the implementation of such methods may affect risk premium rates for flood insurance coverage.

Requires the Administrator, in calculating the risk premium rate, to take into account the implementation of any mitigation method identified in the guidelines.

Title II: National Association of Registered Agents and Brokers - National Association of Registered Agents and Brokers Reform Act of 2014 - (Sec. 202) Amends the Gramm-Leach-Bliley Act to repeal the contingent conditions under which the National Association of Registered Agents and Brokers (NARAB) shall not be established. Establishes the NARAB without contingent conditions as an independent nonprofit corporation to prescribe, on a multi-state basis, licensing and insurance producer qualification requirements and conditions.

Prohibits NARAB from merging with or into any other private or public entity.

Requires the NARAB, without affecting state regulatory authority, to provide a mechanism for the adoption and multi-state application of requirements and conditions pertaining to: (1) licensing, continuing education, and other qualifications of non-NARAB insurance producers; (2) resident or nonresident insurance producer appointments; (3) supervision and disciplining of such producers; and (4) the setting of licensing fees for insurance producers.

Makes any state-licensed insurance producer eligible to join the NARAB, except during a period of license suspension or revocation. Requires an individual insurance producer to undergo a criminal history record check by the Federal Bureau of Investigation (FBI). Requires the NARAB to submit to the FBI identification information obtained from the insurance producer, upon producer request, as well as a request of its own for the criminal history record check.

Authorizes the NARAB to: (1) establish membership criteria; and (2) deny membership to an individual state-licensed insurance producer on the basis of the criminal history information obtained, or where the producer has been subject to certain disciplinary action.

Prescribes procedures governing a criminal history record check, including the rights of applicants denied membership.

Authorizes NARAB to establish membership criteria, including separate classes of membership and membership criteria for business entities; but prohibits it from establishing criteria that unfairly limit the ability of a small insurance producer to become a member of NARAB, including discriminatory membership fees.

Authorizes NARAB to establish separate categories of membership for insurance producers and for other persons or entities within each class, based on the types of licensing categories that exist under state laws.

Prohibits NARAB from establishing special categories of membership, including distinct membership criteria for members that are depository institutions or for their employees, agents, or affiliates.

Prohibits NARAB from adopting any qualification less protective to the public than that contained in the National Association of Insurance Commissioners (NAIC) Producer Licensing Model Act.

Prescribes procedures for authorized information sharing pursuant to a request by a licensed insurance producer.

Authorizes the NARAB to deny membership to any state-licensed insurance producer for failure to meet membership criteria.

States that NARAB membership authorizes an insurance producer to engage in the business of insurance in any state for any lines of insurance specified in the producer's home state license, including claims adjustments and settlement, risk management, and specified insurance-related consulting activities.

Makes NARAB membership equivalent to a nonresident insurance producer license for specified purposes.

Empowers NARAB to act as agent for any member for the purpose of remitting licensing fees to a state.

Requires NARAB to disclose to states, including state insurance regulators and the NAIC, on an ongoing basis, a list of the states in which each member is authorized to operate.

Retains state regulatory jurisdiction regarding: (1) consumer protection and market conduct, and (2) state disciplinary authority.

Requires NARAB to establish, as a condition of membership, continuing education requirements comparable to the continuing education requirements under the licensing laws of a majority of the states.

Prohibits NARAB from offering continuing education courses for insurance producers.

Grants NARAB disciplinary enforcement powers.

Requires NARAB to: (1) receive and investigate consumer complaints, and to maintain a toll-free telephone number; and (2) refer any such complaint to the state insurance regulator. Prescribes information- sharing procedures and limitations with the NAIC or governmental entities.

Authorizes NARAB to establish: (1) a central clearinghouse, or utilize NAIC as a central clearinghouse through which NARAB members may disclose their intent to operate in one or more states; and (2) a national database for the collection of regulatory information concerning the activities of insurance producers.

Establishes the NARAB board of directors, whose membership shall include state insurance commissioners. Sets forth terms and procedures for appointment of members by the President. Authorizes reappointment to successive terms. Prohibits compensation on account of Board membership.

Declares that NARAB shall not be deemed to be an insurer or insurance producer within the meaning of any state law, rule, regulation, or order regulating or taxing insurers, insurance producers, or other entities engaged in the business of insurance.

Sets forth procedures for presidential oversight of NARAB, including removal of the entire existing Board.

Sets forth a limited preemption of state laws purporting to regulate insurance producers.

Directs NARAB to coordinate with the Financial Industry Regulatory Authority (FINRA) in order to ease administrative burdens that fall on NARAB members subject to regulation by FINRA.

Authorizes any person aggrieved by a NARAB decision or action to commence a civil action in an appropriate federal district court.

Prohibits federal funding of NARAB.

title homeowner flood insurance affordability act homeowner flood insurance affordability act sec prohibits administrator federal_emergency_management_agency fema implementing specified month period requirement national_flood_insurance_act increase flood insurance risk premium rates reflect current risk flood property located specified areas subject certain mandatory premium adjustment prohibition extending subsidies property insured flood insurance program july date enactment policy lapsed property longer required retain coverage pre firm properties pre firm property contains structure constructed substantially improved later december effective date initial flood insurance rate map published pertinent area declares prohibitions shall expire months later date administrator proposes certain draft flood insurance affordability framework date administrator certifies congress fema implemented flood mapping approach applied results technically credible flood hazard data areas prepared updated amends prohibit administrator providing flood insurance prospective insureds rates estimated property purchased expiration month period currently property purchased july reducing risk premium rate subsidy flood insurance property purchased expiration month period set forth act based fact property insured flood insurance program july expiration month period policy property lapsed coverage result deliberate choice policy holder property longer required retain coverage directs fema restore month period specified estimated risk premium rate subsidies flood insurance properties denied extension subsidy submit certain congressional committees draft affordability framework addressing affordability flood insurance sold national_flood_insurance_program permits fema enter agreement federal agency complete affordability study prepare draft affordability framework directs fema publicly available later months implementation specified rate changes flood insurance risk premiums resulting act rate tables underwriting guidelines provide basis changes directs fema days enactment act report congress feasibility releasing property level policy claims data flood insurance coverage establishing guidelines releasing data accordance privacy_act sec directs fema submit certain congressional committees draft affordability study report economic analysis costs benefits federal government flood insurance program risk based premiums combined means tested federal assistance aid individuals afford coverage insurance voucher program sec amends repeal ceiling funding draft affordability study report making available amounts necessary sec amends authorize fema reimburse homeowners successful map appeals resolved submission conflicting data repeal ceiling funds fema use reimbursements community successful appeals sec makes community adequate progress construction current law reconstruction new flood protection system afford flood protection year frequency flood eligible flood insurance premium rates exceeding apply flood protection system completed revises guidelines governing availability flood insurance communities restoring flood protection systems include riverine coastal levees sec rate covered structure elevation difference elevation covered structure adjusted base flood elevation designate flood insurance advocate advocate fair treatment policy holders national_flood_insurance_program property owners mapping flood hazards identification risks flood implementation measures minimize risk flood sec amends amended respect limitation requirement federal entity lending regulation require payments periodically regulated lending institution mortgage loan servicer shall deposit escrow account applies payment escrow requirements limitation loan originated refinanced increased extended renewed january revises limitation prohibiting federal entity lending regulation certain circumstances requiring regulated lending institution deposit payments escrow account extends reach prohibition loans junior subordinate senior lien secured residential improved real estate mobile home flood insurance provided time loan origination secured residential improved real estate mobile home condominium cooperative project development certain circumstances secured residential improved real estate mobile home collateral business purpose home equity lines credit loans loans terms longer months directs federal entity lending regulation require regulated lending institution servicer outstanding mortgage loan borrower option having flood insurance premiums fees payments periodically regulated lending institution mortgage loan servicer deposit escrow account sec amends require fema policyholders required escrow flood insurance premiums fees option paying premiums installments monthly frequent annually sec requires flood insurance premium rates based consideration flood mitigation activities owner lessee undertaken property including differences risk involved land use measures flood forecasting similar measures sec estimating flood insurance premium rates property july experienced sustained substantial improvement exceeding currently fair market value sec requires fema assess options methods strategies making available voluntary community based flood insurance policies directs comptroller general gao analyze report assessment sec exempts review processing fee requester flood insurance rate map change based habitat restoration project funded federal state funds including dam removal redesign installation installation fish passage sec issue guidelines property owners provide alternative methods mitigation building elevation reduce flood risk urban residential buildings elevated structural characteristics inform property owners implementation methods affect risk premium rates flood insurance coverage requires administrator calculating risk premium rate account implementation mitigation method identified guidelines title sec amends gramm leach bliley act repeal contingent conditions national_association_of_registered_agents_and_brokers narab shall established establishes narab contingent conditions independent nonprofit corporation prescribe multi state basis licensing insurance producer qualification requirements conditions prohibits narab merging private public entity requires narab affecting state regulatory authority provide mechanism adoption multi state application requirements conditions pertaining licensing continuing education qualifications non narab insurance producers resident nonresident insurance producer appointments supervision disciplining producers setting licensing fees insurance producers makes state licensed insurance producer eligible join narab period license suspension revocation requires individual insurance producer undergo criminal history record check federal_bureau_of_investigation fbi requires narab submit fbi identification information obtained insurance producer producer request request criminal history record check authorizes narab establish membership criteria deny membership individual state licensed insurance producer basis criminal history information obtained producer subject certain disciplinary action prescribes procedures governing criminal history record check including rights applicants denied membership authorizes narab establish membership criteria including separate classes membership membership criteria business entities prohibits establishing criteria unfairly limit ability small insurance producer member narab including discriminatory membership fees authorizes narab establish separate categories membership insurance producers persons entities class based types licensing categories exist state laws prohibits narab establishing special categories membership including distinct membership criteria members depository institutions employees agents affiliates prohibits narab adopting qualification protective public contained national_association_of_insurance_commissioners naic producer licensing model act prescribes procedures authorized information sharing pursuant request licensed insurance producer authorizes narab deny membership state licensed insurance producer failure meet membership criteria states narab membership authorizes insurance producer engage business insurance state lines insurance specified producer home state license including claims adjustments settlement risk management specified insurance related consulting activities makes narab membership equivalent nonresident insurance producer license specified purposes empowers narab act agent member purpose remitting licensing fees state requires narab disclose states including state insurance regulators naic ongoing basis list states member authorized operate retains state regulatory jurisdiction consumer protection market conduct state disciplinary authority requires narab establish condition membership continuing education requirements comparable continuing education requirements licensing laws majority states prohibits narab offering continuing education courses insurance producers disciplinary enforcement powers requires narab receive investigate consumer complaints maintain toll free telephone number refer complaint state insurance regulator prescribes sharing procedures limitations naic governmental entities authorizes narab establish central clearinghouse utilize naic central clearinghouse narab members disclose intent operate states national database collection regulatory information concerning activities insurance producers establishes narab board directors membership shall include state insurance commissioners sets forth terms procedures appointment members president authorizes reappointment successive terms prohibits compensation account board membership declares narab shall deemed insurer insurance producer meaning state law rule regulation order regulating taxing insurers insurance producers entities engaged business insurance sets forth procedures presidential oversight narab including removal entire existing board sets forth limited preemption state laws purporting regulate insurance producers directs narab coordinate financial_industry_regulatory_authority finra order ease administrative burdens fall narab members subject regulation finra authorizes person aggrieved narab decision action commence civil action appropriate federal district court prohibits federal funding narab


Summary:
Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act with respect to establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System.

Declares that the appropriate federal banking agencies shall not be required to subject to such minimum requirements any person, to the extent that person acts in its capacity as a regulated insurance entity, if it is regulated by a state insurance regulator or is a regulated foreign subsidiary (or a regulated foreign affiliate of such subsidiary) engaged in the business of insurance.

amends dodd frank wall street reform consumer protection act respect establishment minimum leverage minimum risk based capital requirements consolidated basis depository institution holding company nonbank financial company supervised board_of_governors federal_reserve_system declares appropriate federal banking agencies shall required subject minimum requirements person extent person acts capacity regulated insurance entity regulated state insurance regulator regulated foreign subsidiary regulated foreign affiliate subsidiary engaged business insurance


Summary:
Smart Savings Act - Makes the default investment in the Thrift Savings Plan (TSP) an age-appropriate target date asset allocation portfolio (L Fund), instead of the Government Securities Investment Fund (G Fund), if no election has been made for the investment of available funds. Retains the Government Securities Investment Fund as the default fund for members of the Uniformed Services. Requires TSP participants whose default fund is an age-appropriate L Fund to receive a risk acknowledgement before being enrolled to make TSP contributions.

Makes this Act: (1) effective on the date the Executive Director of the Federal Retirement Thrift Investment Board issues guidance for implementing this Act, and (2) applicable to individuals who enroll in the Thrift Savings Plan on or after such date.

Extends requirements relating to fiduciary protections to TSP beneficiaries.

act makes default investment thrift savings plan tsp age appropriate target date asset allocation portfolio instead election investment available funds retains government securities investment fund default fund members uniformed_services requires tsp participants default fund age appropriate receive risk acknowledgement enrolled tsp contributions makes act effective date executive director federal_retirement_thrift_investment_board issues guidance implementing act applicable individuals enroll thrift savings plan date extends requirements relating fiduciary protections tsp beneficiaries


Summary:
Money Remittances Improvement Act of 2014 - Authorizes the Secretary of the Treasury, with respect to compliance with reporting requirements for monetary instrument transactions of financial institutions, to rely upon examinations conducted by a state supervisory agency of a category of financial institution if: (1) the category is required to comply with federal requirements, or (2) the state supervisory agency examines the category for compliance with federal requirements.

Instructs the Secretary to consult with state supervisory agencies when issuing rules to implement this Act.

authorizes secretary treasury respect compliance reporting requirements monetary instrument transactions financial institutions rely examinations conducted state supervisory agency category financial institution category required comply federal requirements state supervisory agency examines category compliance federal requirements instructs secretary consult state supervisory agencies issuing rules implement act


Summary:
Community Financial Protection Act of 2014 - Amends the Consumer Financial Protection Act of 2010 to require the Director of the Consumer Financial Protection Bureau (CFPB) to request reports through the prudential regulator from a person that is either an insured depository institution or an insured credit union with total assets of $10 billion or less (persons).

Prohibits the Director from making such requests for an industry-wide report, or for a report pertaining to two or more such persons.

Requires the Director, as a prerequisite to making such request, to make a showing to the prudential regulator that publicly available information pertaining to such person(s) is insufficient for the purposes of either: (1) supporting the role of the CFPB in implementing federal consumer financial laws; (2) supporting examination activities of the CFPB; or (3) risk assessment and detection concerning consumers and consumer financial markets.

Authorizes the prudential regulator to deny any request for a report or information made by the Director with respect to such persons.

Requires the prudential regulator who fulfills the Director's request for a report to do so with reports that have been furnished to a federal or state agency (or are required to have been furnished to a federal or state agency.

Instructs the Director to accept existing reports in formats consistent with those submitted to the prudential regulator and federal and state agencies if the prudential regulator has determined that they provide the information requested.

community financial protection act amends consumer financial protection act require director consumer_financial_protection_bureau cfpb request reports prudential regulator person insured depository institution insured credit union total assets billion persons prohibits director making requests industry wide report report pertaining persons requires director prerequisite making request showing prudential regulator publicly available information pertaining insufficient purposes supporting role cfpb implementing federal consumer financial laws supporting examination activities cfpb risk assessment detection concerning consumers consumer financial markets authorizes prudential regulator deny request report information director respect persons requires prudential regulator fulfills director request report reports furnished federal state agency required furnished federal state agency instructs director accept existing reports formats consistent submitted prudential regulator federal state agencies prudential regulator determined provide information requested


Summary:
(This measure has not been amended since it was passed by the Senate on June 3, 2014. The summary of that version is repeated here.)

Insurance Capital Standards Clarification Act of 2014 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) concerning establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System.

States that federal banking agencies shall not be required to subject any person to such minimum capital requirements, to the extent that such person either: (1) acts in its capacity as a regulated insurance entity regulated by a state insurance regulator, or (2) is a regulated foreign subsidiary engaged in the business of insurance (including a regulated foreign affiliate of such subsidiary).

States that a Board-supervised depository institution holding company or nonbank financial company engaged in the insurance business and regulated by either a state insurance regulator or the National Association of Insurance Commissioners, and which files its holding company financial statements using only Statutory Accounting Principles pursuant to state law, shall not be required by the Board, under this Act or the Home Owners' Loan Act (HOLA), to prepare such financial statements in accordance with Generally Accepted Accounting Principles.

Declares that nothing in this Act shall: (1) limit Board authority to conduct any regulatory or supervisory activity of either a depository institution holding company or a non-bank financial company under Board jurisdiction, including the collecting or reporting of any information on an entity or group-wide basis; or (2) excuse the Board from its obligations to comply with Dodd-Frank requirements regarding examination of nonbank financial companies and HOLA requirements regarding examination of savings and loan holding companies.

measure amended passed senate june summary version repeated insurance capital standards clarification act amends dodd frank wall street reform consumer protection act dodd-frank concerning establishment minimum leverage minimum risk based capital requirements consolidated basis depository institution holding company nonbank financial company supervised board_of_governors federal_reserve_system states federal banking agencies shall required subject person minimum capital requirements extent person acts capacity regulated insurance entity regulated state insurance regulator regulated foreign subsidiary engaged business insurance including regulated foreign affiliate subsidiary states board supervised depository institution holding company nonbank financial company engaged insurance business regulated state insurance regulator national_association_of_insurance_commissioners files holding company financial statements statutory accounting principles pursuant state law shall required board act prepare financial statements accordance declares act shall limit board authority conduct regulatory supervisory activity depository institution holding company non bank financial company board jurisdiction including collecting reporting information entity group wide basis board obligations comply dodd-frank requirements examination nonbank financial companies requirements examination savings loan holding companies


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 decisionmaking throughout the United States.

Authorizes the Bank to make loans to employees, on a direct or guaranteed basis (which may be subordinated to the interests of all other creditors), 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 that 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 if the employer: (1) 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 decisionmaking united_states authorizes bank loans employees direct guaranteed basis subordinated interests creditors 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 retraining notification act 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 employer 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:
Directs the Board of Governors of the Federal Reserve System to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors applying the policy to bank holding companies and savings and loan holding companies which have pro forma consolidated assets of less than $1 billion, and which:

 are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary; do not conduct significant off-balance sheet activities (including securitization, asset management or administration) either directly or through a nonbank subsidiary; and do not have a material amount of outstanding debt or equity securities, other than trust preferred securities, registered with the Securities and Exchange Commission (SEC). Authorizes the Board, however, to exclude any bank holding company or savings and loan holding company from the policy statement if that is warranted for supervisory purposes.

directs board_of_governors federal_reserve_system publish federal_register proposed revisions small_bank_holding_company_policy_statement_on_assessment_of_financial_and_managerial_factors applying policy bank holding companies savings loan holding companies pro forma consolidated assets billion engaged significant nonbanking activities directly nonbank subsidiary conduct significant balance sheet activities including securitization asset management administration directly nonbank subsidiary material outstanding debt equity securities trust preferred securities registered securities_and_exchange_commission sec authorizes board exclude bank holding company savings loan holding company policy statement warranted supervisory purposes


Summary:
Regulatory Easement for Lending Institutions that Enable a Vibrant Economy Act of 2014 or the RELIEVE Act - Directs the Board of Governors of the Federal Reserve System to publish in the Federal Register proposed revisions to the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors that apply the policy (unless exclusion is warranted for supervisory purposes) to bank holding companies and savings and loan holding companies with pro forma consolidated assets of less than $1 billion, and which:

 are not engaged in significant nonbanking activities either directly or through a nonbank subsidiary, do not conduct significant off-balance sheet activities (including securitization and asset management or administration) either directly or through a nonbank subsidiary, and do not have a material amount of debt or equity securities outstanding (other than trust preferred securities) registered with the Securities and Exchange Commission (SEC). Amends the Truth in Lending Act to limit to a city or town with under 50,000 inhabitants the meaning of "rural" with respect to rural lenders which may presume that the applicant for a residential mortgage loan has a reasonable ability to repay the loan and all applicable taxes, insurance, and assessments.

Amends the Federal Credit Union Act regarding insured amounts payable in connection with a bankrupt state-chartered credit union for which the National Credit Union Administration (NCUA) Board is the liquidating agent.

Revises requirements relating to the limitation to the standard maximum share insurance amount ($250,000) for the net amount of share insurance payable to any member at an insured credit union in the event of such a bankruptcy. Applies the limitation also to any person with funds lawfully held in a member account.

Requires the Board to provide pass-through share insurance paid by certain lawyers administering deposits or shares of any interest on a lawyer's trust account (IOLTA), or paid by the escrow agent administering other similar escrow accounts.

Defines "IOLTA" as a system in which lawyers place certain client funds in interest-bearing or dividend-bearing accounts, with the interest or dividends then used to fund programs such as legal service organizations providing services to clients in need.

Treats IOLTAs as escrow accounts for share insurance purposes, and considers them as member accounts if the administering attorney or escrow agent is a member of the insured credit union in which the funds are held.

regulatory easement lending institutions enable economy act relieve act directs board governors federal_reserve_system publish federal_register proposed revisions small_bank_holding_company_policy_statement_on_assessment_of_financial_and_managerial_factors apply policy exclusion warranted supervisory purposes bank holding companies savings loan holding companies pro forma consolidated assets billion engaged significant nonbanking activities directly nonbank subsidiary conduct significant balance sheet activities including securitization asset management administration directly nonbank subsidiary material debt equity securities outstanding trust preferred securities registered securities_and_exchange_commission sec amends truth lending act limit city town inhabitants meaning rural respect rural lenders presume applicant residential mortgage loan reasonable ability repay loan applicable taxes insurance assessments amends federal_credit_union_act insured amounts payable connection state chartered credit union national_credit_union_administration ncua board liquidating agent revises requirements relating limitation standard maximum share insurance net share insurance payable member insured credit union event bankruptcy applies limitation person funds lawfully held member account requires board provide pass share insurance paid certain lawyers administering deposits shares interest lawyer trust account paid escrow agent administering similar escrow accounts defines system lawyers place certain client funds interest bearing dividend bearing accounts interest dividends fund programs legal service organizations providing services clients need treats escrow accounts share insurance purposes considers member accounts administering attorney escrow agent member insured credit union funds held


Summary:
Amends the Federal Credit Union Act regarding insured amounts payable in connection with a bankrupt state-chartered credit union for which the National Credit Union Administration (NCUA) Board is the liquidating agent.

Revises requirements relating to the limitation to the standard maximum share insurance amount ($250,000) for the net amount of share insurance payable to any member at an insured credit union in the event of such a bankruptcy. Applies the limitation also to any person with funds lawfully held in a member account.

Requires the Board to provide pass-through share insurance paid by certain lawyers administering deposits or shares of any interest on a lawyer's trust account (IOLTA), or paid by the escrow agent administering other similar escrow accounts.

Defines "IOLTA" as a system in which lawyers place certain client funds in interest-bearing or dividend-bearing accounts, with the interest or dividends then used to fund programs such as legal service organizations providing services to clients in need.

Treats IOLTAs as escrow accounts for share insurance purposes, and considers them as member accounts if the administering attorney or escrow agent is a member of the insured credit union in which the funds are held.

amends federal_credit_union_act insured amounts payable connection state chartered credit union national_credit_union_administration ncua board liquidating agent revises requirements relating limitation standard maximum share insurance net share insurance payable member insured credit union event bankruptcy applies limitation person funds lawfully held member account requires board provide pass share insurance paid certain lawyers administering deposits shares interest lawyer trust account paid escrow agent administering similar escrow accounts defines system lawyers place certain client funds interest bearing dividend bearing accounts interest dividends fund programs legal service organizations providing services clients need treats escrow accounts share insurance purposes considers member accounts administering attorney escrow agent member insured credit union funds held


Summary:
Consumer Financial Protection Bureau Examination and Reporting Threshold Act of 2014 - Amends the Consumer Financial Protection Act of 2010 to raise the examination threshold that brings an insured depository institution or insured credit union within its supervisory purview from assets of $10 billion or more to assets of $50 billion or more.

Increases from assets of $10 billion or less to assets of $50 billion or less the size of an insured depository institution or insured credit union that is subject to the Act's reporting requirements.

reporting threshold act amends consumer financial protection act raise examination threshold brings insured depository institution insured credit union supervisory purview assets billion assets billion increases assets billion assets billion size insured depository institution insured credit union subject act reporting requirements


Summary: State Regulatory Representation Clarification Act of 2014 - Amends the Federal Deposit Insurance Act to require that one of the presidential appointees to the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) once served as a state bank supervisor.

state regulatory representation clarification act amends federal_deposit_insurance_act require presidential appointees board_of_directors federal_deposit_insurance_corporation fdic served state bank supervisor


Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Promoting Job Creation and Reducing Small Business Burdens Act

TITLE I--BUSINESS RISK MITIGATION AND PRICE STABILIZATION ACT

 (Sec. 101) This bill amends the Commodity Exchange Act (CEA) to exempt, from prudential rules for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties: (1) is eligible for an exception from clearing requirements because it is not a financial entity, uses swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission (CFTC) how it meets financial obligations associated with entering into non-cleared swaps; or (2) satisfies specified criteria governing treatment of affiliates in connection with clearing requirements.

Amends the Securities Exchange Act of 1934 (SEA 1934), regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates.

(Sec. 102) Requires that the amendments to the CEA made by this Act be implemented: (1) without regard to federal information policy requirements or the notice and comment requirements of federal administrative procedure; and (2) through promulgation of an interim final rule, pursuant to which public comment will be sought before a final rule is issued.

Limits the disregard of such federal information policy and notice and comment requirements solely to changes to rules and regulations, or proposed rule and regulations, that are limited to, and directly a consequence of, the amendments to the CEA made by this Act.

TITLE II--TREATMENT OF AFFILIATE TRANSACTIONS

(Sec. 201) Authorizes exemption of affiliate transactions from clearing requirements only if the affiliate enters into a swap to hedge or mitigate the commercial risk of the person that is not a financial entity (as under current law), provided that an appropriate credit support measure or other mechanism must be used if the hedge or mitigation of commercial risk is addressed by entering into a swap with either: (1) a swap dealer or major swap participant, or (2) a security-based swap with a security-based swap dealer or major security-based swap participant.

TITLE III--HOLDING COMPANY REGISTRATION THRESHOLD EQUALIZATION ACT

(Sec. 301) Amends the SEA 1934 to require that an issuer that is a savings and loan holding company to register with the Securities and Exchange Commission (SEC) if: (1) its assets exceed $10 million, and (2) it has a class of equity security held of record by 2,000 or more persons.

Requires termination of such registration after a savings and loan holding company certifies that its holders of record of that class of security have been reduced to fewer than 1,200 persons.

Suspends automatically the duty of a savings and loan holding company to file supplementary and periodic information if the securities of each class to which the registration statement relates (other than any class of asset-backed securities) are held of record by fewer than 1,200 persons.

TITLE IV--SMALL BUSINESS MERGERS, ACQUISITIONS, SALES, AND BROKERAGE SIMPLIFICATION ACT

(Sec. 401) Amends the SEA 1934 to exempt from its registration requirements certain merger and acquisition brokers.

Denies such registration exemption, however, to brokers who: (1) receive, hold, transmit, or have custody of any funds or securities to be exchanged by parties to a transfer of ownership of an eligible privately held company; or (2) engage on behalf of an issuer in a public offering of securities that are either subject to mandatory registration, or with respect to which the issuer must file periodic information, documents, and reports.

Prohibits this Act from being construed to limit any other authority of the SEC to exempt any person, or any class of persons, from any provision of this Act, including any related rule or regulation.

TITLE V--SWAP DATA REPOSITORY AND CLEARINGHOUSE INDEMNIFICATION CORRECTIONS

 (Sec. 501) Amends the CEA, with respect to derivatives clearing organizations and swap data repositories, to repeal the prerequisite that, before the CFTC may share information with specified regulatory agencies, such agencies must agree to indemnify the CFTC for expenses arising from litigation relating to information so provided.

Amends the SEA 1934 to repeal similarly the prerequisite that, before a security-based swap data repository may share information with specified regulatory entities, such entities must agree to indemnify both the repository and the SEC for expenses arising from litigation relating to the information so provided.

Declares that these amendments shall take effect as if enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010.

TITLE VI--IMPROVING ACCESS TO CAPITAL FOR EMERGING GROWTH COMPANIES ACT

(Sec. 601) Amends the Securities Act of 1933 to reduce from 21 to 15 the number of days before a "road show" that an emerging growth company (EGC), before its initial public offering (IPO) date, may publicly file a draft registration statement for confidential nonpublic review by the SEC.

(A financial "road show" is an offer [other than a statutory prospectus or a portion of one] that contains a presentation regarding an offering by one or more members of the issuer's management and includes discussion of one or more of the issuer, such management, and the securities being offered. Typically, a road show is a series of meetings across different cities, often before an IPO, in which top executives from a company have the opportunity to talk with current or potential investors.)

(Sec. 602) Prescribes a grace period during which an issuer that was an EGC at the time it filed a confidential registration statement (or, in lieu of that, a publicly filed registration statement) for SEC review, but ceases to be an EGC, shall continue to be treated as an emerging market growth company for one year or, if earlier, until consummation of its IPO.

(Sec. 603) Amends the Jumpstart Our Business Startups Act to direct the SEC to prescribe conditions under which a registration statement filed (or submitted for confidential review) by an issuer before its IPO may omit financial disclosure information for historical periods otherwise required.

TITLE VII--SMALL COMPANY DISCLOSURE SIMPLIFICATION ACT

(Sec. 701) Exempts ECGs and issuers with total annual gross revenues of less than $250 million from the requirements to use Extensible Business Reporting Language (XBRL) for mandatory periodic reporting filed with the SEC. Allows such companies, however, to elect to use XBRL for such reporting.

(Sec. 702) Directs the SEC to: (1) analyze the costs and benefits to such issuers of the requirements to use XBRL for financial statements and other mandatory periodic reporting; and (2) report to certain congressional committees on the results of such analysis as well as on progress in implementing XBRL reporting within the SEC, and the use of XBRL data by the SEC and by investors.

TITLE VIII--RESTORING PROVEN FINANCING FOR AMERICAN EMPLOYERS ACT

(Sec. 801) Amends the Bank Holding Company Act of 1956 regarding certain prohibitions on proprietary trading by banking entities and certain relationships with hedge funds and private equity funds (Volcker Rule).

Delays until July 21, 2019, the requirement that a banking entity or nonbank financial company supervised by the Board of Governors of the Federal Reserve System bring into compliance with the Volcker Rule its activities related to or investments in any debt securities of collateralized loan obligations issued before January 31, 2014.

TITLE IX--SBIC ADVISERS RELIEF ACT

(Sec. 901) Amends the Investment Advisers Act of 1940 to exempt specified advisers of small business investment companies (SBICs) from certain: (1) SEC registration requirements with respect to the provision of investment advice relating to venture capital funds, and (2) SEC registration and reporting requirements regarding assets under management of private funds.

(Sec. 903) Provides the same exemption with respect to any state or local law requiring the registration, licensing, or qualifications of investment advisers.

TITLE X--DISCLOSURE MODERNIZATION AND SIMPLIFICATION ACT

(Sec. 1001) Directs the SEC to: (1) issue regulations permitting issuers to submit a summary page on annual and transition report form 10-K if each item on that page cross-references the material contained in form 10-K; (2) revise regulation S-K in order to reduce the burden on smaller issuers, including emerging growth companies, accelerated filers, and smaller reporting companies, while still providing all material information to investors; and (3) eliminate duplicative, overlapping, outdated, or unnecessary provisions in the regulation.

(Sec. 1003) Directs the SEC to study ways to: (1) modernize and simplify the requirements in regulation S-K, (2) improve the readability and navigability of disclosure documents, and (3) discourage repetition and disclosure of immaterial information.

TITLE XI--ENCOURAGING EMPLOYEE OWNERSHIP ACT

(Sec. 1101) Directs the SEC to revise regulations to require an issuer to furnish investors with additional specified disclosures regarding compensatory benefit plans if the aggregate sales price or amount of securities sold during any consecutive 12-month period exceeds $10 million (currently $5 million), indexed for inflation every five years.

measure amended introduced summary expanded action occurred measure promoting job creation reducing small business burdens act title business risk mitigation price stabilization act sec bill amends commodity_exchange_act cea exempt prudential rules swap dealers major swap participants respect initial variation margin requirements swaps cleared registered derivatives clearing organization swaps counterparties eligible exception clearing requirements financial entity uses swaps hedge mitigate commercial risk notifies commodity_futures_trading_commission cftc meets financial obligations associated entering non cleared swaps satisfies specified criteria governing treatment affiliates connection clearing requirements amends securities exchange act sea registration regulation security based swap dealers major security based swap participants exempt initial variation margin requirements swaps cleared registered derivatives clearing organization security based swap counterparties qualifies specified exception clearing requirements satisfies certain criteria governing treatment affiliates sec requires amendments cea act implemented regard federal information policy requirements notice comment requirements federal administrative procedure promulgation interim final rule pursuant public comment sought final rule issued limits disregard federal information policy notice comment requirements solely changes rules regulations proposed rule regulations limited directly consequence amendments cea act title treatment affiliate transactions sec authorizes exemption affiliate transactions clearing requirements affiliate enters swap hedge mitigate commercial risk person financial entity current law provided appropriate credit support measure mechanism hedge mitigation commercial risk addressed entering swap swap dealer major swap participant security based swap security based swap dealer major security based swap participant title iii holding company registration threshold equalization act sec amends sea require issuer savings loan holding company register securities_and_exchange_commission sec assets exceed million class equity security held record persons requires termination registration savings loan holding company certifies holders record class security reduced fewer persons suspends automatically duty savings loan holding company file supplementary periodic information securities class registration statement relates class asset backed securities held record fewer persons title small business mergers acquisitions sales brokerage simplification act sec amends sea exempt registration requirements certain merger acquisition brokers denies registration exemption brokers receive hold transmit custody funds securities exchanged parties transfer ownership eligible privately held company engage behalf issuer public offering securities subject mandatory registration respect issuer file periodic information documents reports prohibits act construed limit authority sec exempt person class persons provision act including related rule regulation title swap data repository clearinghouse indemnification corrections sec amends cea respect derivatives clearing organizations swap data repositories repeal prerequisite cftc share information specified regulatory agencies agencies agree indemnify cftc expenses arising litigation relating information provided amends sea repeal similarly prerequisite security based swap data repository share information specified regulatory entities entities agree indemnify repository sec expenses arising litigation relating information provided declares amendments shall effect enacted dodd frank wall street reform consumer protection act july title improving access capital emerging growth companies act sec amends securities act reduce number days road emerging growth company initial public offering date publicly file draft registration statement confidential nonpublic review sec financial road offer statutory prospectus portion contains presentation offering members issuer management includes discussion issuer management securities offered typically road series meetings different cities executives company opportunity talk current potential investors sec prescribes grace period issuer time filed confidential registration statement lieu publicly filed registration statement sec review ceases shall continue treated emerging market growth company year earlier consummation sec amends jumpstart business startups act direct sec prescribe conditions registration statement filed submitted confidential review issuer omit financial disclosure information historical periods required title vii small company disclosure simplification act sec exempts issuers total annual gross revenues million requirements use business reporting language mandatory periodic reporting filed sec allows companies elect use reporting sec directs sec analyze costs benefits issuers requirements use financial statements mandatory periodic reporting report certain congressional committees results analysis progress implementing reporting sec use data sec investors title viii restoring proven financing american employers act sec amends bank_holding_company_act certain prohibitions proprietary trading banking entities certain relationships hedge funds private equity funds volcker rule delays july requirement banking entity nonbank financial company supervised board_of_governors federal_reserve_system bring compliance activities related investments debt securities collateralized loan obligations issued january title sbic advisers relief act sec amends investment advisers act exempt specified advisers small business investment companies sbics certain sec registration requirements respect provision investment advice relating venture capital funds sec registration reporting requirements assets management private funds sec provides exemption respect state local law requiring registration licensing qualifications investment advisers title disclosure modernization sec directs sec issue regulations permitting issuers submit summary page annual transition report form item page cross references material contained form revise regulation order reduce burden smaller issuers including emerging growth companies accelerated filers smaller reporting companies providing material information investors eliminate duplicative overlapping outdated unnecessary provisions regulation sec directs sec study ways modernize simplify requirements regulation improve readability disclosure documents discourage disclosure information title encouraging employee ownership act sec directs sec revise regulations require issuer furnish investors additional specified disclosures compensatory benefit plans aggregate sales price securities sold consecutive month period exceeds million currently million indexed inflation years


Summary:
Small Business Freedom of Commerce Act of 2015

Allows a small business operating in the United States to elect to be exempt from any federal rule or regulation issued on or after January 20, 2009. Requires the small business to notify the federal agency that issued the rule or regulation that it has elected such exemption, and makes the exemption effective 30 days after such notification.

Requires an exempt small business to: (1) label any product affected by the exemption as no longer subject to such rule or regulation, and (2) include in any communication relating to the affected product or activity a notice that it is no longer so subject.

Prescribes penalties for small business noncompliance with such requirements.

Prohibits a small business from electing to be exempt from a rule or regulation issued by the Department of Defense (DOD) or Homeland Security (DHS) if the Secretary of Defense or Homeland Security has determined that the rule or regulation is necessary for U.S. security.

small business freedom commerce act allows small business operating united_states elect exempt federal rule regulation issued january requires small business notify federal agency issued rule regulation elected exemption makes exemption effective days notification requires exempt small business label product affected exemption longer subject rule regulation include communication relating affected product activity notice longer subject prescribes penalties small business noncompliance requirements prohibits small business electing exempt rule regulation issued department_of_defense dod homeland_security dhs secretary defense homeland_security determined rule regulation necessary security


Summary:
Repeals the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Revives or restores the provisions of law amended by such Act as if it had not been enacted.

repeals dodd-frank_wall_street_reform consumer protection act revives restores provisions law amended act enacted


Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Capital Access for Small Community Financial Institutions Act of 2015

(Sec. 2) Amends the Federal Home Loan Bank Act to treat certain privately insured credit unions as insured depository institutions for purposes of determining eligibility for membership in a federal home loan bank.

Permits a credit union which lacks federal deposit insurance and has applied for membership in a federal home loan bank to be treated as meeting all the eligibility requirements for federal deposit insurance if the supervisor of the chartering state has determined that it meets all federal deposit insurance eligibility requirements.

Deems such a credit union to have met the eligibility criteria for federal home loan bank membership if, six months after its application date, the state supervisor has failed to act upon the application.

Prohibits the application of a state law authorizing a conservator or liquidating agent of a credit union to repudiate contracts to any: (1) extension of credit from a federal home loan bank to a credit union which is a member of that bank, or (2) security interest in the assets of the credit union securing such extension of credit.

Declares that if a federal home loan bank makes an advance to a state-chartered credit union that is not federally insured: (i) the bank's interest in any collateral securing such advance has the same priority and is afforded the same standing and rights that the security interest would have had if the advance had been made to a federally-insured credit union, and (2) the bank has the same right to access such collateral that it would have had if the advance had been made to a federally-insured credit union.

Amends the Federal Deposit Insurance Act to require private deposit insurers of credit unions that are members of a federal home loan bank to submit copies of their audit reports within seven days to the Federal Housing Finance Agency.

(Sec. 3) Directs the Government Accountability Office to study: (1) the adequacy of insurance reserves held by a private deposit insurer that insures deposits in an insured credit union or any credit union eligible to apply to become one, and (2) such credit unions' compliance with federal regulations governing disclosure of a lack of federal deposit insurance.

measure amended introduced summary expanded action occurred measure sec amends federal_home_loan_bank act treat certain privately insured credit unions insured depository institutions purposes determining eligibility membership federal home loan bank permits credit union lacks federal deposit insurance applied membership federal home loan bank treated meeting eligibility requirements federal deposit insurance supervisor chartering state determined meets federal deposit insurance eligibility requirements deems credit union met eligibility criteria federal home loan bank membership months application date state supervisor failed act application prohibits application state law authorizing conservator liquidating agent credit union contracts extension credit federal home loan bank credit union member bank security interest assets credit union securing extension credit declares federal home loan bank makes advance state chartered credit union federally insured bank interest collateral securing advance priority afforded standing rights security interest advance federally insured credit union bank right access collateral advance federally insured credit union amends federal_deposit_insurance_act require private deposit insurers credit unions members federal home loan bank submit copies audit reports seven days federal_housing_finance_agency sec directs government_accountability_office study adequacy insurance reserves held private deposit insurer insures deposits insured credit union credit union eligible apply credit unions compliance federal regulations governing disclosure lack federal deposit insurance


Summary:
Return to Prudent Banking Act of 2015

 Amends the Federal Deposit Insurance Act (FDIA) to prohibit an insured depository institution from being an affiliate of any broker or dealer, investment adviser, investment company, or any other person or entity engaged principally in the issue, flotation, underwriting, public sale, or distribution of stocks, bonds, debentures, notes, or other securities.

Prohibits officers, directors and employees of securities firms from simultaneous service on the boards of depository institutions, except in specified circumstances.

Requires any such individual serving as an officer, director, employee, or other institution-affiliated party of any insured depository institution to terminate such service as soon as practicable after enactment of this Act. Requires an insured depository institution to wind-down in an orderly manner and terminate any affiliation prohibited by this Act.

Amends the Banking Act of 1933 (Glass-Steagall Act) to expand its prohibition against the transaction of banking activities by securities firms.

Declares that Congress ratifies the interpretation by the Supreme Court of specified statutory language in the case of Investment Company Institute v. Camp (ICI) regarding permissible activities of banks and securities firms.

Declares that the reasoning of the Court in that case shall continue to apply to the limitations placed upon security affiliations under the FDIA as enacted by this Act. Prohibits a federal banking agency or federal court from issuing an interpretation regarding such security affiliations that is narrower than that of the Court in ICI.

Makes technical and conforming changes to the Gramm-Leach-Bliley Act, the Revised Statutes of the United States, and specified federal law.

Requires the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, or another appropriate federal banking agency to report to Congress a detailed description of the basis for its decision each time it makes a determination or grants an extension concerning an affiliation between insured depository institutions and investment banks or securities firms.

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


Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Burdensome Data Collection Relief Act

 (Sec. 2) This bill amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to repeal the requirement that the Securities and Exchange Commission amend certain federal regulations about executive compensation to require each issuer of securities to disclose in any filing: (1) the median of the annual total compensation of all the issuer's employees, except the chief executive officer; (2) the annual total compensation of the chief executive officer; and (3) the ratio of the first amount to the second.

measure amended introduced summary expanded action occurred measure collection relief act sec bill amends dodd frank wall street reform consumer protection act repeal requirement securities_and_exchange_commission amend certain federal regulations executive compensation require issuer securities disclose filing median annual total compensation issuer employees chief executive officer annual total compensation chief executive officer ratio second


Summary:
Savings, Accountability, Value, and Efficiency Act of 2015 or the SAVE Act

TITLE I--SAVE I

Savings, Accountability, Value, and Efficiency I Act or the SAVE I Act

Requires, every two years: (1) the Office of Management and Budget (OMB) to publish a national strategy for managing excess and underutilized federal real property; and (2) the Administrator of the General Services Administration to implement a plan to improve the Federal Real Property Profile that ensures the data collected is complete, accurate, and consistent.

Requires the Administrator for Federal Procurement Policy to issue guidance to federal agencies for reinvigorating the role of the competition advocate.

Requires the OMB to issue government-wide savings goals for the strategic sourcing of goods and services by executive agencies.

Requires each executive agency to develop and report on a policy for evaluating the effectiveness of information technology investments.

Rescinds unobligated budget authority for the Department of Energy Advanced Technology Vehicles Manufacturing Loan Program.

Amends title XI (General Provisions) of the Social Security Act to require the Department of Health and Human Services (HHS) to report on efforts to finalize plans and schedules for fully implementing and expanding the use of the Integrated Data Repository and on actions taken to plan, schedule, and conduct training on the One Program Integrity System.

Directs the Secretary of Agriculture to report on the adequacy of agricultural quarantine and inspection fees.

Amends the USEC Privatization Act to expand the definition of "uranium" for purposes of transfers and sales to include depleted uranium and any byproduct of uranium processing.

Requires the OMB to develop a strategy to assess the collective results of federal funding for the reduction of mobile source diesel emissions and to identify and eliminate any unnecessary duplication, overlap, and fragmentation of such activities.

TITLE II--SAVE II

Savings, Accountability, Value, and Efficiency II Act or SAVE II Act

Requires the Unmanned Aircraft Systems (UAS) Task Force to examine the entire UAS portfolio of the Department of Defense (DOD), including UAS requirements, platforms, payloads, and ground control stations, to develop strategies for improved interoperability of existing systems.

 Directs DOD to: (1) identify areas in which commonality with other unmanned aircraft systems across the UAS portfolio will be achieved, (2) request a federally-funded research and development center to study UAS interoperability and overlap issues, (3) report to Congress on the examination of the UAS portfolio and the UAS study, and (4) issue revised excess inventory management guidance.

Amends the Internal Revenue Code to provide for the denial, revocation, or limitation of a passport or passport card for individuals with a seriously delinquent tax debt in excess of $50,000. Prohibits the Department of State from issuing a passport to an individual with a seriously delinquent tax debt and requires State to revoke the passport of such an individual, with an exception for emergency circumstances or humanitarian reasons. Allows disclosure of tax return information to State for purposes of processing passports of individuals with a seriously delinquent tax debt.

Directs the Secretary of Commerce to report on the merits and feasibility of converting from a retrospective antidumping and countervailing duty collection system to a prospective one, including an estimate of resulting costs and cost savings.

Requires the Inspector General of the U.S. Agency for International Development (USAID) to report on the effectiveness of each USAID foreign assistance program and project.

Directs the Department of Justice to convert all X-ray systems in federal prisons from analog, film-based systems to digital, filmless systems by 2015.

 Prohibits the Department of the Treasury from minting or issuing any coin, or engraving or printing any U.S. currency, that costs more to produce than the denomination of such coin or currency.

Requires the Director of the Government Publishing Office to make any document of the House of Representatives or Senate available only in an electronic format accessible through the Internet and prohibits the printing or distribution of a printed copy of any such document, with a limited exception for requests by any person for whom the Director would have been required to provide a printed copy.

TITLE III--SAVE III

Savings, Accountability, Value, and Efficiency III Act

Requires the OMB to issue software licensing policies for federal agencies.

Amends the National Energy Conservation Policy Act to expand the definition of "energy or water conservation measure" to include, in the case of a contract in which the U.S. Postal Service (USPS) is a party: (1) the purchase or lease of low emission and fuel efficient vehicles; (2) the upgrade of USPS vehicles to increase average fuel economy and reduce carbon dioxide emissions; or (3) the construction of infrastructure to support such vehicles, including electric vehicle charging stations.

 Directs the Postmaster General to develop guidelines for USPS vehicles that provide for specified carbon dioxide emissions and fuel economy standards.

Requires the head of each federal agency to ensure that agency desktop computers are shut down for at least 4 hours out of each 24-hour time period, except for certain computers that are in use for 16 or more hours per day.

Denies payment of civil service retirement benefits and requires forfeiture of thrift saving plan agency contributions for federal employees who are convicted of certain public corruption offenses.

 Requires DOD to implement specified criteria in requests for overseas contingency operations.

Amends the National Energy Conservation Policy Act to direct each federal facility energy manager, not later than two years after completion of a comprehensive energy evaluation of a federal agency's facilities, to consider: (1) implementing any energy-saving or conservation measure identified in the evaluation that is life cycle cost-effective, and (2) bundling individual measures of varying paybacks together into combined projects.

Directs HHS to examine and report on which payments may be made under both the Medicare Advantage Program and the veterans health care system or the TRICARE program for health care furnished to individuals eligible under such programs.

Amends title XVIII (Medicare) of the Social Security Act to provide Medicare beneficiaries with an option to receive statements of benefits in a electronic format.

TITLE IV--SAVE IV

Savings, Accountability, Value, & Efficiency IV Act or the SAVE Act IV

Sets forth reporting requirements for: (1) the Department of Treasury on the challenges that identity theft poses for the Internal Revenue Service (IRS), especially the ability of IRS to identify false tax returns before fraudulent refunds are issued; (2) HHS on whether the purchase of medical equipment and supplies for Medicare is more cost effective than the rental of such equipment and supplies; and (3) DOD on streamlining the management of contracts for DOD foreign language support programs.

Requires: (1) DOD to award a contract to a private auditor to perform an audit of DOD financial statements for FY2018, and (2) the Secretaries of the military departments to enter into contracts for the performance of maintenance and administrative functions at military installations under their jurisdiction with a proximately-located local or state government.

savings accountability value efficiency act save act title save savings accountability value efficiency act save act requires years office_of_management_and_budget omb publish national strategy managing excess underutilized federal real property administrator general_services_administration implement plan improve federal_real_property_profile ensures data collected complete accurate consistent requires administrator federal procurement policy issue guidance federal agencies role competition advocate requires omb issue government wide savings goals strategic sourcing goods services executive agencies requires executive agency develop report policy evaluating effectiveness information technology investments rescinds unobligated budget authority amends title general provisions social security act require department_of_health_and_human_services hhs report efforts finalize plans schedules fully implementing expanding use actions taken plan schedule conduct training program integrity system directs secretary agriculture report adequacy agricultural quarantine inspection fees amends usec privatization act expand definition uranium purposes transfers sales include depleted uranium byproduct uranium processing requires omb develop strategy assess collective results federal funding reduction mobile source diesel emissions identify eliminate unnecessary duplication overlap fragmentation activities title save savings accountability value efficiency act save act requires uas task force examine entire uas portfolio department_of_defense dod including uas requirements platforms ground control stations develop strategies improved interoperability existing systems directs dod identify areas unmanned aircraft systems uas portfolio achieved request federally funded research development center study uas interoperability overlap issues report congress examination uas portfolio uas study issue revised excess inventory management guidance amends internal revenue code provide denial revocation limitation passport passport card individuals seriously delinquent tax debt excess prohibits department_of_state issuing passport individual seriously delinquent tax debt requires state revoke passport individual exception emergency circumstances humanitarian reasons allows disclosure tax return information state purposes processing passports individuals seriously delinquent tax debt directs secretary commerce report merits feasibility converting retrospective antidumping countervailing duty collection system prospective including estimate resulting costs cost savings requires inspector general international_development usaid report effectiveness usaid foreign assistance program project directs department_of_justice convert ray systems federal prisons analog film based systems digital systems minting issuing coin printing currency costs produce denomination coin currency requires director government_publishing_office document house_of_representatives senate available electronic format accessible internet prohibits printing distribution printed copy document limited exception requests person director required provide printed copy title iii save iii savings accountability value efficiency iii act requires omb issue software licensing policies federal agencies amends national_energy_conservation_policy_act expand definition energy water conservation measure include case contract usps party purchase lease low emission fuel efficient vehicles upgrade usps vehicles increase average fuel economy reduce carbon dioxide emissions construction infrastructure support vehicles including electric vehicle charging stations directs postmaster general develop guidelines usps vehicles provide specified carbon dioxide emissions fuel economy standards requires head federal agency ensure agency computers shut hours hour time period certain computers use hours day denies payment civil service retirement benefits requires forfeiture thrift saving plan agency contributions federal employees convicted certain public corruption offenses requires dod implement specified criteria requests overseas contingency operations amends national_energy_conservation_policy_act direct federal facility energy manager later years completion comprehensive energy evaluation federal agency facilities consider implementing energy saving conservation measure identified evaluation life cycle cost effective bundling individual measures varying combined projects directs hhs examine report payments veterans health care system tricare program health care furnished individuals eligible programs amends title xviii medicare social security act provide medicare beneficiaries option receive statements benefits electronic format title save savings accountability save act sets forth reporting requirements department_of_treasury challenges identity theft poses internal_revenue_service irs especially ability irs identify false tax returns fraudulent refunds issued hhs purchase medical equipment supplies medicare cost effective rental equipment supplies dod streamlining management contracts dod foreign language support programs requires dod award contract private auditor perform audit dod financial statements fy2018 secretaries military departments enter contracts performance maintenance administrative functions military installations jurisdiction proximately located local state government


Summary:
Surveillance Order Reporting Act of 2015

Permits electronic communications or remote computing service providers to report information to the public about requests and demands for information made by any government entity under a surveillance law and exempts such providers from liability with respect to that report even if the provider would otherwise be prohibited by a surveillance law from reporting that information.

Allows a provider to report such information not more often than quarterly and only to the extent that the report reveals estimates of the number of such demands and requests made, the number the service provider complied with, and the numbers of users or accounts for which information was demanded, requested, or provided.

Permits any estimate disclosed to be: (1) an overall estimate or broken down by categories of, or provisions of, authorizing surveillance laws; and (2) expressed in no greater detail than in a range of 100, rounded to the nearest 100s.

 Defines "surveillance law" to include the Foreign Intelligence Surveillance Act of 1978 and specified sections of the National Security Act of 1947, the Right to Financial Privacy Act of 1978, the Fair Credit Reporting Act, and the federal criminal code (dealing with counterintelligence access to telephone toll and transactional records).

surveillance order reporting act permits electronic communications remote computing service providers report information public requests demands information government entity surveillance law exempts providers liability respect report provider prohibited surveillance law reporting information allows provider report information quarterly extent report reveals estimates number demands requests number service provider complied numbers users accounts information demanded requested provided permits estimate disclosed overall estimate broken categories provisions authorizing surveillance laws expressed greater detail range rounded nearest defines surveillance law include foreign_intelligence_surveillance_act specified sections national security act right_to_financial_privacy_act fair credit reporting act federal criminal code dealing counterintelligence access telephone toll transactional records