Hurricanes Rita and Wilma Financial Services Relief Act of 2005
Latest action · Nov 10, 2005 Placed on the Union Calendar, Calendar No. 153.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 26, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Hurricanes Rita and Wilma Financial Services Relief Act of 2005 - Expresses the sense of Congress that it is vital that insured depository institutions and insured credit unions continue to provide financial services to consumers displaced or otherwise affected by Hurricane Rita or Wilma, which includes the cashing of federal government assistance and benefit checks.
Urges the Secretary of the Treasury and federal financial regulators to seek to educate insured depository institutions and insured credit unions on the proper application of the published guidance on the cashing of such checks.
Urges the federal financial regulators to continue to work with such institutions and credit unions operating under extraordinary circumstances to facilitate the cashing of such checks.
Requires a federal reserve bank to waive or rebate any transaction fee for wire transfer services that otherwise would be imposed on any insured depository institution or insured credit union that, as of September 24, 2005, or October 22, 2005, was headquartered in a specified qualified disaster area.
Authorizes a federal financial regulator to forbear from taking any required action, on a case-by-case basis, with respect to any undercapitalized insured depository institution or credit union that is not significantly or critically undercapitalized, if the entity meets specified prerequisites, and the reduction in its capital or net worth category is directly attributable to the impact of Hurricane Rita or Hurricane Wilma.
Authorizes a federal financial regulator to permit an insured depository institution or credit union to subtract specified amounts from its total assets in calculating compliance with the applicable leverage limit if it meets specified prerequisites and has an acceptable plan for managing the increase in its total assets and deposits.
Identifies such an insured depository institution or credit union as one that: (1) derives more than 50% of its total deposits from persons who normally reside within, or whose principal place of business is normally within, a qualified disaster area; and (2) was adequately capitalized as of September 24, 2005, or October 22, 2005.
Cosponsors 5
Members who signed on, in the order they did. Signatures ran from Oct 26, 2005 to Oct 28, 2005; 1 is an original cosponsor, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-FL | Debbie Wasserman Schultz | Original | Oct 26, 2005 |
| D-MA | Barney Frank | Oct 27, 2005 | |
| D-TX | Al Green | Oct 28, 2005 | |
| R-TX | Ron Paul | Oct 28, 2005 | |
| D-TX | Ruben Hinojosa | Oct 28, 2005 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Oct 26, 2005Markup Oct 28, 2005Reported Nov 10, 2005 |
Actions 6
Everything that happened, newest first.
- Nov 10, 2005Reported by the Committee on Financial Services. H. Rept. 109-282.
- Nov 10, 2005Placed on the Union Calendar, Calendar No. 153.
- Oct 28, 2005Committee Consideration and Mark-up Session Held.
- Oct 28, 2005Ordered to be Reported by Voice Vote.
- Oct 26, 2005Introduced in House
- Oct 26, 2005Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimates 2
- Nov 9, 2005H.R. 4146, Hurricanes Rita and Wilma Financial Services Relief Act of 2005<p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on October 27, 2005</p>
- Nov 9, 2005H.R. 4146, Hurricanes Rita and Wilma Financial Services Relief Act of 2005Cost estimate for the bill as ordered reported by the House Committee on Financial Services on October 27, 2005
Printed hearings 2
Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.
| Number | Hearing | Committee | Held |
|---|---|---|---|
| Serial No. 109-69 | HOUSING OPTIONS IN THE AFTERMATH OF HURRICANES KATRINA AND RITA218 pages | Financial Services Committee | Jan 13, 2006 |
| Serial No. 109-64 | H.R. 4100, THE LOUISIANA RECOVERY CORPORATION ACT305 pages | Financial Services Committee | Nov 17, 2005 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3945 | Hurricane Katrina Financial Services Relief Act of 2005 | Related bill | Oct 28, 2005 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To facilitate recovery from the effects of Hurricane Rita and Hurricane Wilma by providing greater flexibility for, and temporary waivers of certain requirements and fees imposed on, depository institutions, credit unions, and Federal regulatory agencies, and for other purposes.
- Short Titles as Introduced
- Hurricanes Rita and Wilma Financial Services Relief Act of 2005
- Short Titles as Reported to House
- Hurricanes Rita and Wilma Financial Services Relief Act of 2005
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Administrative remedies
- Bank capital
- Bank deposits
- Checks
- Commerce
- Credit unions
- Department of the Treasury
- Disaster insurance
- Disaster relief
- Displaced persons
- Electronic funds transfers
- Emergency Management
- Federal Deposit Insurance Corporation
- Federal Reserve System
- Fees
- Finance and Financial Sector
- Financial services
- Floods
- Florida
- Government corporations
- Government Operations and Politics
- Hurricane aftermath legislation
- Hurricanes
- Law
- Louisiana
- National Credit Union Administration
- Rebates
- Science, Technology, Communications
- Texas
Text 2
Each version as it was printed, newest first.
- Nov 10, 2005Reported in House
- Oct 26, 2005Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.