Summary:
Financial Stability Oversight Council Improvement Act of 2014 - Amends the Financial Stability Act of 2010 to subject the Financial Stability Oversight Council (Council) to the Administrative Procedure Act.

Requires the Council to make publicly available any final report study or analysis it has prepared, unless exempt from disclosure.

Requires the Council, when determining whether to subject a U.S. or a foreign nonbank financial company to supervision by the Board of Governors of the Federal Reserve System and to prudential standards, to consider the appropriateness of imposing such standards as opposed to other forms of regulation to mitigate identified risks to U.S. financial stability.

Requires the Council, when reevaluating determinations with respect to a nonbank financial company under Federal Reserve Board supervision, to provide written notice to the company and afford it opportunity to submit written materials to contest the determination.

Directs the Council, upon identifying a nonbank financial company for comprehensive analysis of its potential to pose a threat to U.S. financial stability, to provide: (1) written notice that explains with specificity the basis for the identification, and (2) an opportunity to submit written materials for Council consideration.

Prescribes procedural requirements for proposed determinations and final decisionmaking by the Council, including periodic review of individual determinations.

Directs the Council every five years to study: (1) the impact of its determinations to subject nonbank financial companies to Federal Reserve Board supervision and prudential standards, and (2) whether such determinations have the intended result of improving domestic financial stability.

amends financial stability act subject administrative procedure act requires council publicly available final report study analysis prepared exempt disclosure requires council determining subject foreign nonbank financial company supervision board_of_governors federal_reserve_system prudential standards consider appropriateness imposing standards opposed forms regulation mitigate identified risks financial stability requires council determinations respect nonbank financial company federal_reserve_board supervision provide written notice company afford opportunity submit written materials contest determination directs council identifying nonbank financial company comprehensive analysis potential pose threat financial stability provide written notice explains specificity basis identification opportunity submit written materials council consideration prescribes procedural requirements proposed determinations final decisionmaking council including periodic review individual determinations directs council years study impact determinations subject nonbank financial companies federal_reserve_board supervision prudential standards determinations intended result improving domestic financial stability


Summary: Municipal Bond Market Support Act of 2014 - Amends Internal Revenue Code provisions relating to the small issuer exemption from interest expense allocation rules for financial institutions to: (1) permanently increase from $10 million to $30 million the annual limit on the amount of tax-exempt obligations that a small issuer may issue, and (2) allow an inflation adjustment to such increased limit amount after 2014.

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


Summary: Young Savers Security in Retirement Act of 2014 - Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 18, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows the tax credit for retirement savings for contributions to a young savers account. Directs the Secretary of the Treasury to pay any overpayment of tax that is attributable to the tax credit for retirement savings to the taxpayer's young savers account.

young savers security retirement act amends internal revenue code establish tax exempt individual retirement account taxpayers age known young savers account treats accounts roth individual retirement accounts income tax purposes allows tax credit retirement savings contributions young savers account directs secretary treasury pay overpayment tax attributable tax credit retirement savings taxpayer young savers account


Summary: Amends the S.A.F.E. Mortgage Licensing Act of 2008 to direct the Attorney General to provide appropriate state officials responsible for regulating financial service providers or related businesses (in addition to state officials responsible for regulating state-licensed loan originators) with access to criminal history information to the extent that criminal history background checks are required under state law for the licensing of such parties.

amends mortgage licensing act direct attorney general provide appropriate state officials responsible regulating financial service providers related businesses addition state officials responsible regulating state licensed loan originators access criminal history information extent criminal history background checks required state law licensing parties


Summary:
Promoting Job Creation and Reducing Small Business Burdens Act - Title I: Business Risk Mitigation and Price Stabilization Act - (Sec. 101) Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators 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; (2) is eligible for a public interest exemption from swap clearing requirements for certain cooperative entities; or (3) 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.

Title II: Treatment of Affiliate Transactions - (Sec. 201) Amends the CEA and SEA 1934 to revise the treatment of affiliate transactions that may be exempt from clearing requirements to authorize such an exemption only if the affiliate enters into the 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 is used if the transfer 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 SEA 1934 to require 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 SEA 1934 to exempt from its registration requirements certain merger and acquisition (M&A) brokers, including any person associated with a broker.

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.

Title V: Small Cap Liquidity Reform Act - (Sec. 501) Amends SEA 1934 to establish a pilot liquidity program for equity securities of emerging growth companies (EGCs) with total annual gross revenues of less than $750 million, under which those securities shall be quoted using either: (1) a minimum increment of $0.05 or $0.10, or (2) the increment at which the securities would be quoted without regard to such minimum increments.

Requires that securities of issuers that cease to be EGCs be quoted at the increment at which they would be quoted without regard to the minimum increments established under this Act.

Shields an issuer from liability for losses caused solely by the quoting or trading of its securities at a minimum increment of $0.05 or $0.10, another SEC-authorized increment, or by both such quoting and trading.

Title VI: Improving Access to Capital for Emerging Growth Companies Act - (Sec. 601) Amends the Securities Act of 1933 (Act) 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.

(Sec. 602) Prescribes a grace period during which an issuer that was an EGC at the time it filed a registration statement for confidential SEC review, but is no longer one, shall continue to be treated as one if it meets certain criteria.

(Sec. 603) Amends the Jumpstart Our Business Startups Act to direct the SEC to revise its general instructions on Form S-1 to prescribe conditions under which a registration statement that is filed by an issuer (or submitted for confidential review) before its IPO may omit financial disclosure information for historical periods otherwise required.

Title VII: Small Company Disclosure Simplification Act - (Sec. 701) Exempts emerging growth companies 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 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).

Prohibits the Volcker Rule from being construed to require divestiture, before July 21, 2017, of any debt securities of collateralized loan obligations issued before January 31, 2014.

States that a banking entity shall not be considered to have an ownership interest in a collateralized loan obligation because it either acquires, has acquired, or retains a debt security in such obligation if the debt security has no indicia of ownership other than the right of the banking entity to participate in the removal for cause, or in the selection of a replacement after removal for cause or resignation, of an investment manager or investment adviser of the collateralized loan obligation.

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. Directs the SEC to issue a proposed rule to implement any recommendations.

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.

promoting job creation reducing small business burdens business risk mitigation price stabilization act sec amends commodity_exchange_act cea exempt rules prudential regulators 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 eligible public interest exemption swap clearing requirements certain cooperative entities 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 title treatment affiliate transactions sec amends cea sea revise treatment affiliate transactions exempt clearing requirements authorize exemption affiliate enters swap hedge mitigate commercial risk person financial entity current law provided appropriate credit support measure mechanism transfer commercial risk addressed entering swap swap dealer major swap participant security based swap 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 including person associated broker 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 title small cap liquidity reform act sec amends sea establish pilot liquidity program equity securities emerging growth companies total annual gross revenues million securities shall minimum increment increment securities regard minimum increments requires securities issuers cease increment regard minimum increments established act shields issuer liability losses caused solely trading securities minimum increment sec authorized increment trading title improving access capital emerging growth companies act sec amends securities act act reduce number days road emerging growth company initial public offering date publicly file draft registration statement confidential nonpublic review sec sec prescribes grace period issuer time filed registration statement confidential sec review longer shall continue treated meets certain criteria sec amends jumpstart business startups act direct sec revise general instructions form prescribe conditions registration statement filed issuer submitted confidential review omit financial disclosure information historical periods required title vii small company disclosure simplification act sec exempts emerging growth companies 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 mandatory periodic reporting report certain congressional committees results analysis progress implementing reporting sec use data sec investors title viii american employers act sec amends bank_holding_company_act certain prohibitions proprietary trading banking entities certain relationships hedge funds private equity funds volcker rule prohibits volcker rule construed require divestiture july debt securities collateralized loan obligations issued january states banking entity shall considered ownership interest collateralized loan obligation acquires acquired retains debt security obligation debt security indicia ownership right banking entity participate removal cause selection replacement removal cause resignation investment manager investment adviser collateralized loan obligation 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 simplification act 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 directs sec issue proposed rule implement recommendations 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: 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:
Financial Institution Customer Protection Act of 2014 - Prohibits a federal banking agency from suggesting, requesting, or ordering a depository institution to terminate a specific customer account, or otherwise restrict or discourage it from entering into or maintaining a banking relationship with a specific customer, unless: (1) the agency has a material reason to do so, and (2) the reason is not based solely on reputation risk.

Prescribes requirements for notice from the federal banking agency to the depository institution about such a customer account restriction or termination; but states that notice to the customer is not required.

Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to revise requirements for summoning witnesses and requiring production of books or other records the Attorney General deems relevant or material to a civil investigation in contemplation of a civil proceeding which may result in civil penalties for specified violations.

customer protection act prohibits federal banking agency requesting ordering depository institution terminate specific customer account restrict discourage entering maintaining banking relationship specific customer agency material reason reason based solely reputation risk prescribes requirements notice federal banking agency depository institution customer account restriction termination states notice customer required amends financial institutions reform recovery enforcement act revise requirements witnesses requiring production books records attorney general deems relevant material civil investigation civil proceeding result civil penalties specified violations


Summary:
Small Financial Institutions Regulatory Relief Act of 2014 - Amends the Truth in Lending Act (TILA), with respect to minimum standards for residential mortgage loans and the presumption of ability to repay, to treat as a "qualified mortage" any residential mortgage loan made by a creditor having less than $10 billion in total assets, so long as the loan is originated and retained in creditor's portfolio for the duration of the loan term.

Directs the Consumer Financial Protection Bureau (CFPB) to exempt a creditor with assets of less than $10 billion from the requirement to establish escrow or impound accounts for the payment of taxes and hazard insurance before consummating a consumer credit transaction secured by a first lien on the principal dwelling of the consumer.

Amends the Real Estate Settlement Procedures Act of 1974 to direct the CFPB to provide either exemptions to, or adjustments from, its mortgage loan servicing and escrow account administration requirements for servicers that service fewer than 10,000 mortgage loans annually.

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

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 the Assessment of Financial and Managerial Factors that: (1) apply that policy to bank holding companies having pro forma consolidated assets of less than $5 billion (adjusted annually), no engagement in nonbanking activities involving significant leverage, and no significant amount of outstanding debt; and (2) increase from 1.1 to 3.1 the debt-to-equity ratio allowable for a small bank holding company in order to retain its eligibility both to pay a corporate dividend and to implement expedited processing procedures under the Board's Regulation Y.

Amends the Federal Reserve Act to require the Board to have at all times at least one member with demonstrated experience working in or supervising community banks having less than $10 billion in total assets.

Directs the CFPB to establish an application process under which a person who lives or does business in a state may apply to have an area in the state identified as rural if it has not yet been so designated for purposes of federal consumer financial law.

Prescribes criteria for the CFPB to consider when evaluating an application. Requires the CFPB to: (1) grant or deny the application within 90 days after the public comment period ends; and (2) publish the grant or denial in the Federal Register.

small financial institutions regulatory relief act amends truth lending act tila respect minimum standards residential mortgage loans presumption ability repay treat qualified residential mortgage loan creditor having billion total assets long loan originated retained creditor portfolio duration loan term directs consumer_financial_protection_bureau cfpb exempt creditor assets billion requirement establish escrow impound accounts payment taxes hazard insurance consumer credit transaction secured lien principal dwelling consumer amends real_estate_settlement_procedures_act direct cfpb provide exemptions adjustments mortgage loan servicing escrow account administration requirements servicers service fewer mortgage loans annually amends gramm leach bliley act exempt annual privacy policy notice requirement financial institution provides nonpublic personal information accordance specified requirements changed policies practices regard disclosing nonpublic personal information disclosed recent disclosure consumers directs_the_board_of_governors federal_reserve_system publish federal_register proposed revisions small_bank_holding_company_policy_statement apply policy bank holding companies having pro forma consolidated assets billion adjusted annually engagement nonbanking activities involving significant leverage significant outstanding debt increase debt equity ratio allowable small bank holding company order retain eligibility pay corporate dividend implement expedited processing procedures require board times member demonstrated experience working supervising community banks having billion total assets directs cfpb establish application process person lives business state apply area state identified rural designated purposes federal consumer financial law prescribes criteria cfpb consider evaluating application requires cfpb grant deny application days public comment period ends publish grant denial federal_register


Summary:
Financial Takeover Repeal Act of 2013 - 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.

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


Summary:
Terminating the Expansion of Too-Big-To-Fail Act of 2013 - Amends the Financial Stability Act of 2010, title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the Federal Deposit Insurance Act, and the Federal Reserve Act to eliminate all supervision by the Board of Governors of the Federal Reserve System (Board) of domestic and foreign nonbank financial companies, including new or heightened standards and safeguards and minimum leverage capital requirements.

Eliminates the duty of the Financial Stability Oversight Council to identify systemically important financial market utilities and payment, clearing, and settlement activities.

Repeals the authority of the Council, acting through the Office of Financial Research, to: (1) require the submission of periodic and other reports from any domestic or foreign nonbank financial company, or (2) request the Board to examine a U.S. nonbank financial company for the sole purpose of determining whether it should be Board-supervised.

Repeals specified additional Board authority to supervise certain nonbank financial companies, including the prohibition against management interlocks between such companies and certain other financial companies.

Repeals the requirement that the Board study and report to Congress on: (1) specified issues with respect to the resolution of financial companies under chapter 7 (Liquidation) or 11 (Reorganization) of the Bankruptcy Code, and (2) international coordination relating to the resolution of systemic financial companies under the U.S. Bankruptcy Code and applicable foreign law.

Repeals the authority of the Council to recommend to the Board: (1) prudential standards and reporting and disclosure requirements for Board-supervised nonbank financial companies, and (2) any requirement that each nonbank financial company report periodically the company's credit exposure as well as its plan for rapid and orderly resolution in the event of material financial distress or failure.

Repeals the requirement that the Council study the feasibility, benefits, costs, and structure of a contingent capital requirement for Board-supervised nonbank financial companies.

Eliminates reporting requirements for such companies.

Repeals the Payment, Clearing, and Settlement Supervision Act of 2010 (title VIII of Dodd-Frank).

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


Summary:
Federal Reserve Transparency Act of 2013 - Directs the Comptroller General (GAO) to: (1) complete, within 12 months of enactment of this Act, the required audit of the Board of Governors of the Federal Reserve System (Board) and of the Federal Reserve Banks; and (2) submit to Congress, within 90 days of audit completion, a detailed report of audit findings and conclusions.

Repeals certain limitations placed upon such audit.

Instructs the Comptroller General (GAO) to audit and report on the review of loan files of homeowners in foreclosure in 2009 or 2010, required as part of the enforcement actions taken by the Board against supervised financial institutions. Prescribes audit contents, including: (1) the guidance given by the Board to independent consultants retained by the supervised financial institutions regarding procedures to be followed in conducting the file reviews, (2) the factors considered by independent consultants when evaluating loan files and the results obtained pursuant to those reviews, and (3) the determinations made by such consultants regarding the nature and extent of financial injury sustained by each homeowner as well as the level and type of remediation offered.

federal_reserve transparency act directs comptroller general gao complete months enactment act required audit board_of_governors federal_reserve_system board federal_reserve_banks submit congress days audit completion detailed report audit findings conclusions repeals certain limitations placed audit instructs comptroller_general gao audit report review loan files homeowners foreclosure required enforcement actions taken board supervised financial institutions prescribes audit contents including guidance given board independent consultants retained supervised financial institutions procedures followed conducting file reviews factors considered independent consultants evaluating loan files results obtained pursuant reviews determinations consultants nature extent financial injury sustained homeowner level type remediation offered


Summary:
Dodd-Frank Wall Street Reform and Consumer Protection Technical Corrections Act of 2013 - Makes technical corrections to the Dodd-Frank Wall Street Reform and Consumer Protection Act, including certain Acts within it as well as other specified Acts, regarding definitions affecting regulation of advisers to hedge funds.

Extends for one year the deadline for issuance of any rule or regulation, conduct of any study, or submission of any report required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, except any rules already finalized.

dodd-frank_wall_street_reform consumer protection technical corrections act makes technical corrections dodd frank wall street reform consumer protection act including certain acts specified acts definitions affecting regulation advisers hedge funds extends year deadline issuance rule regulation conduct study submission report required dodd frank wall street reform consumer protection act rules finalized


Summary: Too Big to Fail, Too Big to Exist Act - Instructs the Secretary of the Treasury to: (1) submit to Congress, within 90 days after enactment of this Act, a list of all commercial banks, investment banks, hedge funds, and insurance companies that the Secretary believes are too big to fail ("Too Big To Fail List"), including, but not limited to, any U.S. bank holding companies identified by the Financial Stability Board as systemically important banks; and (2) break up entities on the list so that their failure would no longer cause a catastrophic effect on the U.S. or global economy without a taxpayer bailout.

big fail big exist act instructs secretary treasury submit congress days enactment act list commercial banks investment banks hedge funds insurance companies secretary believes big fail big fail list including limited bank holding companies identified financial_stability_board systemically important banks break entities list failure longer cause catastrophic effect global economy taxpayer bailout


Summary: Municipal Advisors Relief Act of 2013 - Excludes from the identity of municipal advisor (subject to registration requirements) any person appointed to or volunteering on a board, commission, committee, or similar function of a municipal entity. Exempts also from registration requirements any banks, including agencies or branches of a foreign bank.

municipal advisors relief act excludes identity municipal advisor subject registration requirements person appointed volunteering board commission committee similar function municipal entity exempts registration requirements banks including agencies branches foreign bank


Summary:
Financial Institutions Examination Fairness and Reform Act - Amends the Federal Financial Institutions Examination Council Act of 1978 to require a federal financial institutions regulatory agency to make a final examination report to a financial institution within 60 days of the later of: (1) the exit interview for an examination of the institution, or (2) the provision of additional information by the institution relating to the examination.

Sets a deadline for the exit interview if a financial institution is not subject to a resident examiner program.

Sets forth examination standards for financial institutions.

Prohibits federal financial institutions regulatory agencies from requiring a well capitalized financial institution to raise additional capital in lieu of an action prohibited by the examination standards.

 Establishes in the Federal Financial Institutions Examination Council an Office of Examination Ombudsman.

Grants a financial institution the right to appeal a material supervisory determination contained in a final report of examination.

Requires the Ombudsman to determine the merits of the appeal on the record, after an opportunity for a hearing before an independent administrative law judge.

Declares the decision by the Ombudsman on an appeal to: (1) be the final agency action, and (2) bind the agency whose supervisory determination was the subject of the appeal and the financial institution making the appeal.

Amends the Riegle Community Development and Regulatory Improvement Act of 1994 to require: (1) the Consumer Financial Protection Bureau (CFPB) to establish an independent intra-agency appellate process in connection with the regulatory appeals process; and (2) appropriate safeguards to protect an insured depository institution or insured credit union from retaliation by the CFPB, the National Credit Union Administration (NCUA) Board, or any other federal banking agency for exercising its rights.

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


Summary:
Basel III Impact Study Act - Directs the federal banking agencies (the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation [FDIC]), before issuing any final rule amending their general risk-based capital requirements for revising advanced-approaches risk-based capital requirements, determining risk-weighted assets, and determining minimum regulatory capital ratios as proposed in certain August and June 2012 notices of proposed rule making (NPRs), to study and report to Congress on the impact of the NPRs on the minimum regulatory capital requirements of insured depository institutions and insured depository institution holding companies.

 Requires the banking agencies to determine current capital levels at covered financial institutions and separately identify specific provisions of: (1) the Basel III framework devised by the Basel Committee on Banking Supervision; (2) the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank); and (3) estimate and evaluate their impact as well as the cumulative impact of the NPRs and the identified provisions on required regulatory capital levels, capital quality, asset quality, and risk management at covered U.S. financial institutions. Permits the banking agencies to solicit participation in the study from insured depository institutions and insured depository institution holding companies provided that such request does not impose an undue burden upon participants and is entered into on a voluntary basis.Amends the International Lending Supervision Act of 1983 to revise capital adequacy requirements by directing the banking agencies to seek to ensure that any differences in rules implementing the capital standards do not: (1) give competitive advantages to any class or group of institutions unless otherwise required by federal law, or (2) undermine Dodd-Frank requirements for enhanced supervision and prudential standards.

basel iii impact study act directs federal banking agencies comptroller currency board_of_governors federal_reserve_system federal_deposit_insurance_corporation fdic issuing final rule amending general risk based capital requirements revising advanced approaches risk based capital requirements determining risk weighted assets determining minimum regulatory capital ratios proposed certain august june notices proposed rule making study report congress impact minimum regulatory capital requirements insured depository institutions insured depository institution holding companies requires banking agencies determine current capital levels covered financial institutions separately identify specific provisions basel iii framework basel_committee_on_banking_supervision dodd frank wall street reform consumer protection act dodd-frank estimate evaluate impact cumulative impact identified provisions required regulatory capital levels capital quality asset quality risk management covered financial institutions permits banking agencies solicit participation study insured depository institutions insured depository institution holding companies provided request impose undue burden participants entered voluntary basis amends revise capital adequacy requirements directing banking agencies seek ensure differences rules implementing capital standards competitive advantages class group institutions required federal law undermine dodd-frank requirements enhanced supervision prudential standards


Summary:
Terminating Bailouts for Taxpayer Fairness Act of 2013 or TBTF Act - Requires federal banking agencies to establish capital requirements for the ratio of equity capital to total consolidated assets for all financial institutions.

Prohibits such requirements from requiring a financial institution with more than $50 billion in total consolidated assets to have a ratio of less than 8% of equity capital to total consolidated assets.

Requires the equity capital requirement for a financial institution with $50 billion or less in total consolidated assets to be comparable to federal banking requirements established under specified regulations for prompt corrective actions and for capital adequacy in effect as of May 1, 2013.

Directs the Federal Deposit Insurance Corporation (FDIC) to: (1) study historical equity capital ratios chosen by large depository institutions before the advent of the Federal Reserve System, federal deposit insurance, and the federal income tax (policies) encouraged depositories to favor more highly leveraged deposit and debt funding; and (2) structure the capital surcharge for financial institutions with at least $500 billion in total consolidated assets so that it fully accounts for and offsets any distortion of capital levels by such policies.

Directs the federal banking agencies to establish equity capital surcharges for each financial institution having at least $500 billion in total consolidated assets.

Authorizes capital requirements to increase continuously as a percentage of total consolidated assets as such assets increase.

Prescribes anti-evasion and implementation measures.

Directs the Board of Governors of the Federal Reserve System (Board), the FDIC, and the Comptroller of the Currency to establish capital requirements for each affiliate and subsidiary of a financial institution that are no less stringent than those established under this Act. Exempts from such requirements any financial institution with less than $50 billion in total consolidated assets.

Amends the Home Owner's Loan Act to prohibit the Board from prescribing or imposing capital or capital adequacy rules, guidelines, standards, or requirements on any functionally regulated subsidiary of a savings and loan holding company or functionally regulated affiliate of certain savings associations.

Permits federal banking agencies, in order to measure the relative risk of certain assets and prevent investment in excessive amounts of riskier assets, to establish supplemental risk-based capital requirements for any financial institution with more than $20 billion in total consolidated assets (or any affiliate or subsidiary). Prohibits a federal banking agency from implementing such requirements for such a financial institution unless all federal banking agencies agree that bank supervision is insufficient to prevent excessive concentration of riskier assets.

Prohibits the Board, the FDIC, and the Comptroller of the Currency from any further implementation of federal banking agencies rules regarding "Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems."

Amends the Federal Reserve Act to permit only an insured depository institution that is a member bank with less than $50 billion of total consolidated assets (or affiliate or subsidiary) to engage in a covered transaction with another affiliate or subsidiary that is not an insured depository institution, with certain exceptions.

Prohibits the affiliate or subsidiary of a financial institution, insured depository institution, or nonbank financial institution, except in connection with its resolution or receivership, from receiving certain federal assistance, including asset purchases, loans, investments in debt or equity, or capital injections, or through the Exchange Stabilization Fund, the Deposit Insurance Fund, or through the Board. Excludes from this prohibition transactions or operations implementing monetary policy matters under the direction of either the Board or the Federal Open Market Committee.

Amends the Securities Exchange Act of 1934 to require 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.

Amends the Federal Financial Institutions Examination Council Act of 1978 to establish an Office of Examination Ombudsman.

Amends the Gramm-Leach-Bliley Act to exempt certain financial institutions from mandatory annual written disclosures.

Amends the Equal Credit Opportunity Act to exempt an entity with less than $10 billion in total consolidated assets from the requirement to collect certain data from women-owned, minority-owned, or small business credit applicants.

terminating bailouts taxpayer fairness act act requires federal banking agencies establish capital requirements ratio equity capital total consolidated assets financial institutions prohibits requirements requiring financial institution billion total consolidated assets ratio equity capital total consolidated assets requires equity capital requirement financial institution billion total consolidated assets comparable federal banking requirements established specified regulations prompt corrective actions capital adequacy effect directs federal_deposit_insurance_corporation fdic study historical equity capital ratios chosen large depository institutions federal_reserve_system federal deposit insurance federal income tax policies encouraged depositories favor highly leveraged deposit debt funding structure capital surcharge financial institutions billion total consolidated assets fully accounts offsets capital levels policies directs federal banking agencies establish equity capital surcharges financial institution having billion total consolidated assets authorizes capital requirements increase continuously percentage total consolidated assets assets increase prescribes anti evasion implementation measures directs_the_board_of_governors federal_reserve_system board fdic comptroller_of_the_currency establish capital requirements affiliate subsidiary financial institution stringent established act exempts requirements financial institution billion total consolidated assets amends prohibit board prescribing imposing capital capital adequacy rules guidelines standards requirements functionally regulated subsidiary savings loan holding company functionally regulated affiliate certain savings associations permits federal banking agencies order measure relative risk certain assets prevent investment excessive amounts assets establish supplemental risk based capital requirements financial institution billion total consolidated assets affiliate subsidiary prohibits federal banking agency implementing requirements financial institution federal banking agencies agree bank supervision insufficient prevent excessive concentration assets fdic comptroller_of_the_currency implementation federal banking agencies rules basel iii global regulatory framework resilient banks banking systems amends federal reserve act permit insured depository institution member bank billion total consolidated assets affiliate subsidiary engage covered transaction affiliate subsidiary insured depository institution certain exceptions prohibits affiliate subsidiary financial institution insured depository institution nonbank financial institution connection resolution receivership receiving certain federal assistance including asset purchases loans investments debt equity capital injections deposit_insurance_fund board excludes prohibition transactions operations implementing monetary policy matters direction board federal_open_market_committee amends securities exchange act require issuer savings loan holding company register securities_and_exchange_commission sec assets exceed million class equity security held record persons amends federal_financial_institutions_examination_council_act establish amends gramm leach bliley act exempt certain financial institutions mandatory annual written disclosures amends equal_credit_opportunity_act exempt entity billion total consolidated assets requirement collect certain data women owned minority owned small business credit applicants


Summary: PCAOB Enforcement Transparency Act of 2013 - Amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings public unless the Board, on its own motion or after considering the motion of a party, orders otherwise.

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


Summary:
Holding Company Registration Threshold Equalization Act of 2013 - Amends the Securities Exchange Act of 1934 to require 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 such class of security has 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.

holding company registration threshold equalization act amends securities exchange act 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


Summary:
(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

SAFE Act Confidentiality and Privilege Enhancement Act - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to extend to state and federal regulatory officials having financial services oversight authority (currently only those having mortgage oversight authority) access to any information provided to the Nationwide Mortgage Licensing System and Registry (or any system established by the Director of the Consumer Financial Protection Bureau [CFPB]) without the loss of privilege or confidentiality protections provided by federal and state laws.

measure amended introduced summary version repeated safe act confidentiality privilege enhancement act amends mortgage licensing act extend state federal regulatory officials having financial services oversight authority currently having mortgage oversight authority access information provided nationwide_mortgage_licensing_system_and_registry system established director consumer_financial_protection_bureau cfpb loss privilege confidentiality protections provided federal state laws


Summary:
Small Business Lending Enhancement Act of 2013 - Amends the Federal Credit Union Act to prohibit an insured credit union from making any member business loan that would result in the total amount of such loans outstanding at that credit union at any one time exceeding either: (1) 1.75 times the actual net worth of the credit union, or (2) 12.25% of the total assets of the credit union.

Authorizes the National Credit Union Administration Board to approve an application by an insured credit union to make one or more member business loans that would result in a total amount of such loans outstanding at any one time of up to 27.5 % of the total assets of the credit union, if the credit union meets specified safety and soundness criteria. Prohibits an insured credit union that has made such a member business loan but that is not well capitalized from making any new member business loans until it becomes well capitalized and obtains Board approval.

Directs the Board to develop a tiered approval process, including lending standards, under which an insured credit union gradually increases the amount of member business lending in a manner that is consistent with safe and sound operations.

Directs the Comptroller General to study the status of member business lending by insured credit unions.

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


Summary:
Return to Prudent Banking Act of 2013 - 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 passed by the Senate on April 10, 2014. The summary of that version is repeated here.)

Digital Accountability and Transparency Act of 2014 or the DATA Act - (Sec. 2) States as the purposes of this Act to:

 expand the Federal Funding Accountability and Transparency Act of 2006 by disclosing direct federal agency expenditures and linking federal contract, loan, and grant spending information to federal programs to enable taxpayers and policy makers to track federal spending more effectively; establish government-wide data standards for financial data and provide consistent, reliable, and searchable government-wide spending data that is displayed accurately for taxpayers and policy makers on USASpending.gov; simplify reporting for entities receiving federal funds by streamlining reporting requirements and reducing compliance costs while improving transparency; improve the quality of data submitted to USASpending.gov by holding federal agencies accountable for the completeness and accuracy of the data submitted; and apply approaches developed by the Recovery Accountability and Transparency Board to spending across the federal government. (Sec. 3) Amends the Federal Funding Accountability and Transparency Act of 2006 to define "federal agency," for purposes of such Act, to mean an executive department, a government corporation, or an independent establishment.

Directs the Secretary of the Treasury, not later than three years after the enactment of this Act and monthly, when practicable, but not less than quarterly thereafter, to ensure that information on funds made available to or expended by a federal agency is posted online, in a searchable, downloadable format.

Directs the Secretary and the Director of the Office of Management and Budget (OMB) to establish government-wide financial data standards for federal funds and entities receiving such funds. Requires such data standards, to the extent reasonable and practicable, to: (1) incorporate widely-accepted common data elements and a widely-accepted, nonproprietary, searchable, platform-independent, computer-readable format; (2) include government-wide universal identifiers for federal awards and entities; (3) be consistent with and implement applicable accounting principles; (4) be capable of being continually updated; (5) produce consistent and comparable data; and (6) establish a standard method of conveying the reporting period, reporting entity, unit of measure, and other associated attributes.

Requires the Secretary and the Director to issue guidance to federal agencies on such data standards and consult with public and private stakeholders in establishing such standards.

Requires the Director to review the information required to be reported by recipients of federal awards to identify: (1) common reporting elements across the federal government, (2) unnecessary duplication in financial reporting, and (3) unnecessarily burdensome reporting requirements for recipients of federal awards.

Requires the Director to establish a two-year pilot program to develop recommendations for: (1) standardized reporting elements across the federal government, (2) the elimination of unnecessary duplication in financial reporting, and (3) the reduction of compliance costs for recipients of federal awards. Requires such pilot program to include: (1) a combination of federal contracts, grants, and subawards, with an aggregate value of not less than $1 billion and not more than $2 billion; (2) a diverse group of recipients of federal awards; (3) recipients who receive awards from multiple programs across multiple agencies; and (4) data collected during a 12-month reporting cycle.

Requires the Director, not later than 90 days after the termination of the pilot program, to submit a report to the House Committees on the Budget and Oversight and Government Reform and the Senate Committees on the Budget and Homeland Security and Governmental Affairs that includes: (1) a description of the data collected under the pilot program, its usefulness, and the cost to collect the data from other recipients; and (2) recommendations.

Directs the Inspector General of each federal agency to: (1) review a statistically valid sampling of the spending data submitted under this Act by the federal agency; and (2) submit to Congress and make publicly available a report assessing the completeness, timeliness, quality, and accuracy of the data sampled and the implementation and use of data standards by the federal agency.

Directs the Comptroller General (GAO) to submit a publicly available report to Congress assessing and comparing the data completeness, timeliness, quality, and accuracy of the data submitted under this Act by federal agencies and the implementation and use of data standards by federal agencies.

Authorizes the Secretary to establish a data analysis center, or expand an existing service, to provide data, analytic tools, and data management techniques to support: (1) the prevention and reduction of improper payments, and (2) the improvement of efficiency and transparency in federal spending. Transfers assets of the Recovery Accountability and Transparency Board to the Department of the Treasury upon the establishment of the data analysis center.

Declares that nothing in this Act: (1) shall require disclosure to the public of information protected from disclosure under the Freedom of Information Act (FOIA) or information protected under the Privacy Act of 1974 or the Internal Revenue Code; and (2) shall be construed to create a private right of action.

(Sec. 4) Requires the OMB Director to make available on the OMB website a financial management status report and government-wide five-year financial management plan.

(Sec. 5) Requires a federal agency to notify the Secretary of the Treasury of any legally enforceable non-tax debt owed to such agency that is over 120 (currently, 180) days delinquent so that the Secretary can offset such debt administratively. Requires the Secretary to notify Congress of any instance in which an agency fails to notify the Secretary of such a debt.

measure amended passed senate april summary version repeated digital accountability transparency_act data act sec states purposes act expand federal_funding_accountability transparency act disclosing direct federal agency expenditures linking federal contract loan grant spending information federal programs enable taxpayers policy makers track federal spending effectively establish government wide data standards financial data provide consistent reliable searchable government wide spending data displayed accurately taxpayers policy makers simplify reporting entities receiving federal funds streamlining reporting requirements reducing compliance costs improving transparency improve quality data submitted holding federal agencies accountable completeness accuracy data submitted apply approaches developed spending federal government sec amends federal_funding_accountability transparency act define federal agency purposes act mean executive department government corporation independent establishment directs secretary treasury later years enactment act monthly practicable quarterly ensure information funds available expended federal agency posted online searchable downloadable format directs secretary director office_of_management_and_budget omb establish government wide financial data standards federal funds entities receiving funds requires data standards extent reasonable practicable incorporate widely accepted common data elements widely accepted nonproprietary searchable platform independent computer readable format include government wide universal identifiers federal awards entities consistent implement applicable accounting principles capable continually updated produce consistent comparable data establish standard method conveying reporting period reporting entity unit measure associated attributes requires secretary director issue guidance federal agencies data standards consult public private stakeholders establishing standards requires director review information required reported recipients federal awards identify common reporting elements federal government unnecessary duplication financial reporting unnecessarily burdensome reporting requirements recipients federal awards requires director establish year pilot program develop recommendations standardized reporting elements federal government elimination unnecessary duplication financial reporting reduction compliance costs recipients federal awards requires pilot program include combination federal contracts grants aggregate value billion billion diverse group recipients federal awards recipients receive awards multiple programs multiple agencies data collected month reporting cycle requires director later days termination pilot program submit report senate committees governmental_affairs includes description data collected pilot program usefulness cost collect data recipients recommendations directs inspector general federal agency review statistically valid sampling spending data submitted act federal agency submit congress publicly available report assessing completeness timeliness quality accuracy data implementation use data standards federal agency directs comptroller general gao submit publicly available report congress assessing comparing data completeness timeliness quality accuracy data submitted act federal agencies implementation use data standards federal agencies authorizes secretary establish data analysis center expand existing service provide data analytic tools data management techniques support prevention reduction improper payments improvement efficiency transparency federal spending transfers assets recovery accountability transparency board department_of_the_treasury establishment data analysis center declares act shall require disclosure public information protected disclosure freedom information act foia information protected privacy act internal revenue code shall construed create private right action sec requires omb director available omb website financial management status report government wide year financial management plan sec requires federal agency notify secretary treasury legally enforceable non tax debt owed agency currently days delinquent secretary offset debt administratively requires secretary notify congress instance agency fails notify secretary debt


Summary:
Home Building Lending Improvement Act of 2013 - Directs each of the appropriate federal banking agencies to initiate guidance or rulemaking with respect to financial institutions under their respective jurisdictions that make real estate loans to home builders.

Requires such rulemaking to provide for: (1) adjustment from 100% to 125% of bank capital the measurement that triggers additional scrutiny on real estate loans in the lending portfolio of any qualified financial institution, (2) a prohibition against compelling lenders to call loans in good standing, and (3) improved composite ratings of a financial institution to take effect immediately.

Prohibits a federal banking agency from preventing a qualified financial institution from making a real estate loan to a home builder in good standing that is secured by a viable project, unless there is a legitimate supervisory or accounting reason to do so.

Prohibits such banking agencies from requiring a financial institution to reclassify any real estate loan to a homebuilder in good standing on the balance sheet of such institution, unless there is a legitimate supervisory or accounting reason to do so.

Prohibits such agency guidance and regulations from superseding state law, except to the extent of state law inconsistency.

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


Summary:
Federal Reserve Independence Act - Amends the Federal Reserve Act regarding class A membership on the board of directors of a Federal Reserve Bank to require the Board of Governors of the Federal Reserve System (Federal Reserve Board) to designate members from among persons who are not employed in any capacity by a stockholding bank.

Requires the Federal Reserve Board to designate the class B members of such board of directors (class B members represent the public).

Prohibits employees of any Federal Reserve Board-regulated entity from serving on the board of directors of any Reserve Bank.

Prohibits any employee of the Federal Reserve System or any board member of a Reserve Bank from owning stock or investing in any company regulated by the Federal Reserve Board.

Directs the Comptroller General to report annually to Congress to ensure implementation of this Act.

federal_reserve independence act amends federal reserve act class membership board directors federal_reserve_bank require board_of_governors federal_reserve_system federal_reserve_board designate members persons employed capacity bank requires federal_reserve_board designate class members board directors class members represent public prohibits employees federal_reserve_board regulated entity serving board directors prohibits employee federal_reserve_system board member owning stock investing company regulated federal_reserve_board directs comptroller general report annually congress ensure implementation act


Summary:
21st Century Glass-Steagall Act of 2013 - Amends the Federal Deposit Insurance Act to prohibit an insured depository institution from: (1) being or becoming an affiliate of any insurance company, securities entity, or swaps entity; (2) being in common ownership or control with any insurance company, securities entity, or swaps entity; or (3) engaging in any activity that would cause the insured depository institution to qualify as an insurance company, securities entity, or swaps entity.

Prohibits any individual who is an officer, director, partner, or employee of any securities entity, insurance company, or swaps entity, except in specified circumstances, from serving simultaneously as an officer, director, employee, or other institution-affiliated party of any insured depository institution.

 Makes certain technical and conforming amendments to the Banking Act of 1933 and the Revised Statutes of the United States to limit the business of national banks to receiving deposits, extending credit, discounting and negotiating evidences of debt, loaning money on personal security, engaging in coin and bullion exchange, and investing in investment securities.

Limits the purchase and sale of investment securities and stock by a national banking association to the accounts of customers, but in no case for its own account. Prohibits an association from underwriting any issue of securities or stock.

Prohibits a national banking association from investing in structured or synthetic products, defined as financial instruments in which a return is calculated based on the value of, or by reference to the performance of, a security, commodity, swap, other asset, or an entity, or any index or basket composed of such items.

Amends the Home Owners' Loan Act to repeal the authority of federal savings associations to invest in, redeem, or hold shares or certificates issued by any open-end management investment company registered with the Securities and Exchange Commission (SEC) if their portfolios are restricted by the management company's investment policy solely to investments that a federal savings association by law or regulation may deal in.

Amends the Bank Holding Company Act of 1956 with respect to prohibitions against bank holding company ownership or control of voting share interests in nonbanking organizations. Revises exemptions from such prohibitions in the case of nonbanking organizations thewhose activities are so closely related to banking as to be a proper incident to them.

Specifies activities of a nonbanking organization that shall not be considered closely related to banking, and so disqualify a bank holding company from owning or controlling voting share interests in such an organization. Includes among such nonbanking activities: (1) serving as an investment advisor to an investment company, (2) agency transactional services for customer investments, (3) investment transactions as principal, and (4) management consulting and counseling activities.

Exempts from application of the prohibitions against nonbanking activities, with respect to a bank holding company, the purchase, as an end user, of swaps to hedge against certain exposures, including changes in either interest rates or in the value of currency.

Prohibits a bank holding company from engaging in the business of a securities or a swaps entity, including: (1) dealing or making markets in securities, repurchase agreements, exchange traded and over-the-counter swaps, and structured or synthetic products; (2) engaging in proprietary trading; (3) owning, sponsoring, or investing in a hedge fund, or private equity fund, or any other fund which exhibits the characteristics of a fund that takes on proprietary trading activities or positions; (4) holding ineligible securities or derivatives; and (5) engaging in either market-making or prime brokerage activities.

Requires the appropriate federal regulatory agency to pursue certain actions to enforce this Act.

Amends the Bank Holding Company Act of 1956 to repeal provisions (of the Gramm-Leach-Bliley Act) that: (1) permit a financial holding company to engage in activities that are either financial in nature or constitute expanded financial activities, (2) prescribe corrective actions for financial holding companies that fail to meet certain requirements, (4) authorize certain financial holding companies to retain limited nonfinancial activities and affiliations, and (5) authorize certain financial holding companies to own or control shares of a company engaged in activities related to the trading, sale, or investment in commodities and underlying physical properties that were not previously permissible for bank holding companies.

Amends the Revised Statutes of the United States to repeal the authority of national banks to control or hold an interest in financial subsidiaries.

Amends the International Banking Act of 1978 to repeal the permission granted certain foreign banks to continue to engage in nonbanking activities in the United States.

Revises bankruptcy law to repeal the prohibition against staying, avoiding, or limiting the exercise of a contractual right of financial entities to either liquidate, terminate, or accelerate the following financial instruments: a securities contract, a repurchase agreement, a swap agreement, a master netting agreement, and across contracts. Repeals requirements for the timing of damage measurement in connection with such financial instruments, including commodity contracts and forward contracts.

21st century glass steagall act amends federal_deposit_insurance_act prohibit insured depository institution affiliate insurance company securities entity swaps entity common ownership control insurance company securities entity swaps entity engaging activity cause insured depository institution qualify insurance company securities entity swaps entity prohibits individual officer director partner employee securities entity insurance company swaps entity specified circumstances serving simultaneously officer director employee institution affiliated party insured depository institution makes certain technical conforming amendments banking act revised_statutes united_states limit business national banks receiving deposits extending credit discounting negotiating evidences debt loaning money personal security engaging coin bullion exchange investing investment securities limits purchase sale investment securities stock national banking association accounts customers case account prohibits association underwriting issue securities stock prohibits national banking association investing structured synthetic products defined financial instruments return calculated based value reference performance security commodity swap asset entity index basket composed items amends repeal authority federal savings associations invest redeem hold shares certificates issued open end management investment company registered securities_and_exchange_commission sec portfolios restricted management company investment policy solely investments federal savings association law regulation deal amends bank_holding_company_act respect prohibitions bank holding company ownership control voting share interests nonbanking organizations revises exemptions prohibitions case nonbanking organizations activities closely related banking proper incident specifies activities nonbanking organization shall considered closely related banking disqualify bank holding company owning controlling voting share interests organization includes nonbanking activities serving investment advisor investment company agency transactional services customer investments investment transactions principal management consulting counseling activities exempts application prohibitions nonbanking activities respect bank holding company purchase end user swaps hedge certain exposures including changes interest rates value currency prohibits bank holding company engaging business securities swaps entity including dealing making markets securities repurchase agreements exchange traded counter swaps structured synthetic products engaging proprietary trading owning sponsoring investing hedge fund private equity fund fund exhibits characteristics fund takes proprietary trading activities positions holding ineligible securities derivatives engaging market making prime brokerage activities requires appropriate federal regulatory agency pursue certain actions enforce act amends bank_holding_company_act repeal provisions gramm leach bliley act permit financial holding company engage activities financial nature constitute expanded financial activities prescribe corrective actions financial holding companies fail meet certain requirements authorize certain financial holding companies retain limited nonfinancial activities affiliations authorize certain financial holding companies control shares company engaged activities related trading sale investment commodities underlying physical properties previously permissible bank holding companies amends revised statutes united_states repeal authority national banks control hold interest financial subsidiaries amends international banking act repeal permission granted certain foreign banks continue engage nonbanking activities united_states revises bankruptcy law repeal prohibition staying avoiding limiting exercise contractual right financial entities liquidate terminate accelerate following financial instruments securities contract repurchase agreement swap agreement master agreement contracts repeals requirements timing damage measurement connection financial instruments including commodity contracts forward contracts


Summary:
Increased Competition for Consumers Act - Transfers to the Consumer Operated and Oriented Plan (CO-OP) program the unobligated balance of funds transferred under the American Taxpayer Relief Act of 2012 to a fund to provide assistance and oversight to qualified nonprofit health insurance issuers awarded loans or grants pursuant to the Patient Protection and Affordable Care Act (PPACA).

Amends PPACA to appropriate the amount equal to the amount rescinded (unobligated funds for the CO-OP program as of January 2, 2013) under the American Taxpayer Relief Act of 2012 to carry out such program. Removes the time restriction on the award of CO-OP program loans and grants.

increased competition consumers act transfers oriented plan program unobligated balance funds transferred american taxpayer relief act fund provide assistance oversight qualified nonprofit health insurance issuers awarded loans grants pursuant patient_protection affordable care act ppaca amends ppaca appropriate equal rescinded unobligated funds program january american taxpayer relief act carry program removes time restriction award program loans grants


Summary:
Community Lending Enhancement and Regulatory Relief Act of 2013 or CLEAR Relief Act of 2013 - Amends the Sarbanes-Oxley Act of 2002 to exempt from its rules regarding management assessment of internal controls the following institutions which, as of the end of the preceding fiscal year, had total consolidated assets of $1 billion or less (adjusted annually according to a certain formula): (1) a bank holding company, (2) a savings and loan holding company, or (3) an insured depository institution.

Declares the "Small Bank Holding Company Statement" of the Board of Governors of the Federal Reserve System (Board) applicable to a financial institution that: (1) is otherwise subject to that policy statement, and (2) has consolidated assets of less than $5 billion.

Amends the Truth in Lending Act (TILA) to require the Consumer Financial Protection Bureau (CFPB) to exempt from requirements governing escrow or impound accounts affecting certain consumer credit transactions any loans secured by a first lien on the principal dwelling of a consumer, if such loans are held by an insured depository institution having assets of $10 billion or less.

Includes as a qualified mortgage, with respect to the presumption that a qualified residential mortgage loan meets certain minimum standards, any mortgage loan originated and retained in portfolio for at least three years by a depository institution having less than $10 billion in total assets.

Requires the CFPB (which currently is merely authorized) to provide by regulation that a "qualified mortgage" includes a balloon loan extended by an insured depository institution that: (1) originates and retains balloon loans in portfolio for at least three years, and (2) together with its affiliates has less than $10 billion in total consolidated assets.

regulatory relief act clear relief act amends sarbanes oxley act exempt rules management assessment internal controls following institutions end preceding fiscal year total consolidated assets billion adjusted annually according certain formula bank holding company savings loan holding company insured depository institution declares board_of_governors federal_reserve_system board applicable financial institution subject policy statement consolidated assets billion lending act tila require consumer_financial_protection_bureau cfpb exempt requirements governing escrow impound accounts affecting certain consumer credit transactions loans secured lien principal dwelling consumer loans held insured depository institution having assets billion includes qualified mortgage respect presumption qualified residential mortgage loan meets certain minimum standards mortgage loan originated retained portfolio years depository institution having billion total assets requires cfpb currently merely authorized provide regulation qualified mortgage includes balloon loan extended insured depository institution originates retains balloon loans portfolio years affiliates billion total consolidated assets


Summary:
Amends the Dodd-Frank Wall Street Reform and Consumer Protection to exclude insurers from bank capital rules.

Declares that a company is "primarily engaged in the business of insurance" if: (1) the annual gross revenues derived by it and all of its subsidiaries from the business of insurance represent at least 2/3 of its consolidated annual gross revenues, or (2) the consolidated assets of the company and its subsidiaries relating to the business of insurance represent at least 2/3 of its consolidated assets.

Exempts from minimum leverage capital requirements and minimum risk-based capital requirements any depository institution holding company that: (1) is primarily engaged in the business of insurance; (2) is an insurance underwriting company at the holding company level and was in existence on July 21, 2010; or (3) any nonbank financial company supervised by the Board of Governors of the Federal Reserve System that, together with its subsidiaries, is primarily engaged in the business of insurance.

amends dodd frank wall street reform consumer protection exclude insurers bank capital rules declares company primarily engaged business insurance annual gross revenues derived subsidiaries business insurance represent consolidated annual gross revenues consolidated assets company subsidiaries relating business insurance represent consolidated assets exempts minimum leverage capital requirements minimum risk based capital requirements depository institution holding company primarily engaged business insurance insurance underwriting company holding company level existence july nonbank financial company supervised board_of_governors federal_reserve_system subsidiaries primarily engaged business insurance


Summary:
Audit Integrity and Job Protection Act - Amends the Sarbanes-Oxley Act of 2002 (SOX) to deny the Public Company Accounting Oversight Board any authority to require that audits conducted for a particular issuer of securities in accordance with SOX standards be conducted by specific registered public accounting firms, or that such audits be conducted for an issuer by different registered public accounting firms on a rotating basis.

Directs the Comptroller General (GAO) to update the November 2003 report, "Study on the Potential Effects of Mandatory Audit Firm Rotation," and review the potential effects (including costs and benefits) of requiring the mandatory rotation of registered public accounting firms.

Requires such update also to study: (1) whether mandatory rotation of registered public accounting firms would mitigate against potential conflicts of interest between registered public accounting firms and issuers; (2) whether such a mandatory rotation would impair audit quality due to the loss of industry or company-specific knowledge gained by a registered public accounting firm through years of experience auditing the issuer; and (3) what effect SOX has had upon registered public accounting firms' independence, and whether additional independence reforms are needed.

sarbanes oxley act sox deny public_company_accounting_oversight_board authority require audits conducted particular issuer securities accordance sox standards conducted specific registered public accounting firms audits conducted issuer different registered public accounting firms rotating basis directs comptroller general gao update november report study potential effects mandatory audit firm rotation review potential effects including costs benefits requiring mandatory rotation registered public accounting firms requires update study mandatory rotation registered public accounting firms mitigate potential conflicts interest registered public accounting firms issuers mandatory rotation impair audit quality loss industry company specific knowledge gained registered public accounting firm years experience auditing issuer effect sox registered public accounting firms independence additional independence reforms needed


Summary:
American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such a drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such a "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.

Amends the federal criminal code to exempt savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises.

united_states federal_reserve_act federal_deposit_insurance_act authorize covered financial institutions conduct contest known savings promotion sole consideration required chance winning designated prizes obtained deposit specified money savings account program ticket entry equal chance drawn subjects drawing contest regulations promulgated appropriate prudential regulator excludes savings promotion prohibition covered financial institution dealing lottery tickets amends federal criminal code exempt savings promotion conducted insured depository institution insured credit union specified prohibitions interstate foreign travel transportation aid racketeering enterprises


Summary: Federal Employees Responsible Investment Act - Establishes the Corporate Responsibility Stock Index Fund as an investment option under the Thrift Savings Fund. Directs the Federal Retirement Thrift Investment Board to select a minimum of one index for such Fund comprised of stocks that have been analyzed and selected using basic criteria, including corporate governance, environmental practices, workplace relations and benefits, product safety and impact, international operations and human rights, involvement with repressive regimes, and community relations.

corporate responsibility stock index fund investment option thrift_savings_fund directs federal_retirement_thrift_investment_board select minimum index fund comprised stocks analyzed selected basic criteria including corporate governance environmental practices workplace relations benefits product safety impact international operations human rights involvement repressive regimes community relations


Summary: Amends the Federal Home Loan Bank Act to modify the eligibility criteria for membership in the Federal Home Loan Bank System by redefining insured depository institution to cover certain insured depository institutions as defined by the Federal Deposit Insurance Act, including insured credit unions as well as any entity that the Consumer Financial Protection Bureau (CFPB) determines: (1) is engaged in the business of receiving deposits, and (2) could reasonably be mistaken for a depository institution by the entity's current or prospective customers.

amends federal_home_loan_bank act modify eligibility criteria membership redefining insured depository institution cover certain insured depository institutions defined federal_deposit_insurance_act including insured credit unions entity consumer_financial_protection_bureau cfpb determines engaged business receiving deposits reasonably depository institution entity current prospective customers


Summary: Money Remittances Improvement Act of 2013 - Authorizes the Secretary of the Treasury, with respect to compliance with reporting requirements for monetary instrument transactions of certain financial institutions, to rely upon examinations conducted by the relevant state supervisory agency if: (1) the category of financial institution is required by state law to comply with federal requirements, or (2) the state supervisory agency is authorized to ensure that the financial institution complies with such federal requirements.

authorizes secretary treasury respect compliance reporting requirements monetary instrument transactions certain financial institutions rely examinations conducted relevant state supervisory agency category financial institution required state law comply federal requirements state supervisory agency authorized ensure financial institution complies federal requirements