HR 3310 · 113th Congress 2013–2015, ended

ASSURE Act of 2013

Introduced Oct 23, 2013 Originated House Sponsor Matt Cartwright D-PA

Latest action · Feb 3, 2014 Referred to the Subcommittee on Disability Assistance and Memorial Affairs.

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 23, 2013
Passed HouseNot reached
Passed SenateNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Annuity Safety and Security Under Reasonable Enforcement Act of 2013 or the ASSURE Act of 2013 - Amends the Truth in Lending Act to direct the Bureau of Consumer Financial Protection (CFPB) to issue regulations requiring any payment to a recipient of a federal or military pension (a benefit recipient) that diminishes the benefit recipient's ability to control payments from such pension to be treated as an extension of credit.

Requires financial institutions to include the terms of such credit in consumer information disclosures.

Prohibits the annual percentage rate of interest on such arrangements from exceeding the federal funds rate plus 6% or an equivalent aggregate amount of cash and property.

Specifies conditions under which payment of consideration in exchange for the retired pay of enlisted military members is prohibited from assignment under veterans' benefits laws.

Prohibits individuals from making allotments or assignments from annuities under the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including any agreement under which another person acquires for consideration the right to receive payment from such annuities as well as any arrangement for collateral for security for such an agreement. Exempts union dues or payments to employee organizations from such prohibitions.

Authorizes benefit recipients, individuals entitled to military retired pay, and annuity recipients to bring a private legal action in federal or state court against an assignee engaging in prohibited assignments.

Amends the Consumer Financial Protection Act of 2010 to direct the CFPB to issue regulations requiring persons offering federal or military pension-related products to provide additional disclosures when advertising or selling such products to allow consumers to understand how their pension relates to the product.

Cosponsors 54

Members who signed on, in the order they did. Signatures ran from Oct 23, 2013 to Jul 14, 2014; 39 are original cosponsors, there from the day it was introduced.

Seat	Cosponsor		Signed on
D-FL	Alan Grayson	Original	Oct 23, 2013
D-CA	Alan S. Lowenthal	Original	Oct 23, 2013
D-AZ	Ann Kirkpatrick	Original	Oct 23, 2013
D-CA	Barbara Lee	Original	Oct 23, 2013
D-MS	Bennie G. Thompson	Original	Oct 23, 2013
D-MN	Betty McCollum	Original	Oct 23, 2013
D-NH	Carol Shea-Porter	Original	Oct 23, 2013
D-OR	Earl Blumenauer	Original	Oct 23, 2013
D-TX	Eddie Bernice Johnson	Original	Oct 23, 2013
D-DC	Eleanor Holmes Norton	Original	Oct 23, 2013
D-MD	Elijah E. Cummings	Original	Oct 23, 2013
D-TX	Gene Green	Original	Oct 23, 2013
D-CA	George Miller	Original	Oct 23, 2013
D-VA	Gerald E. Connolly	Original	Oct 23, 2013
D-CA	Gloria Negrete McLeod	Original	Oct 23, 2013
D-CA	Henry A. Waxman	Original	Oct 23, 2013
D-CA	Jackie Speier	Original	Oct 23, 2013
D-MA	James P. McGovern	Original	Oct 23, 2013
D-VA	James P. Moran	Original	Oct 23, 2013
D-RI	James R. Langevin	Original	Oct 23, 2013
D-CA	Janice Hahn	Original	Oct 23, 2013
D-NY	Jerrold Nadler	Original	Oct 23, 2013
D-MI	John Conyers, Jr.	Original	Oct 23, 2013
D-MD	John K. Delaney	Original	Oct 23, 2013
D-GA	John Lewis	Original	Oct 23, 2013
D-NY	Louise McIntosh Slaughter	Original	Oct 23, 2013
D-OH	Marcia L. Fudge	Original	Oct 23, 2013
D-OH	Marcy Kaptur	Original	Oct 23, 2013
D-WI	Mark Pocan	Original	Oct 23, 2013
D-CA	Mark Takano	Original	Oct 23, 2013
D-NM	Michelle Lujan Grisham	Original	Oct 23, 2013
D-AZ	Raúl M. Grijalva	Original	Oct 23, 2013
D-IL	Robin L. Kelly	Original	Oct 23, 2013
D-CT	Rosa L. DeLauro	Original	Oct 23, 2013
D-TX	Ruben Hinojosa	Original	Oct 23, 2013
D-CA	Sam Farr	Original	Oct 23, 2013
D-MA	Stephen F. Lynch	Original	Oct 23, 2013
D-TN	Steve Cohen	Original	Oct 23, 2013
D-IL	William L. Enyart	Original	Oct 23, 2013
D-IL	Janice D. Schakowsky		Oct 28, 2013
D-CA	John Garamendi		Oct 28, 2013
D-CA	Michael M. Honda		Oct 28, 2013
D-WI	Ron Kind		Oct 28, 2013
D-MI	Sander M. Levin		Oct 28, 2013
D-MD	Donna F. Edwards		Oct 30, 2013
D-CA	Raul Ruiz		Oct 30, 2013
D-NY	Timothy H. Bishop		Oct 30, 2013
D-CA	Julia Brownley		Nov 14, 2013
D-MA	John F. Tierney		Dec 11, 2013
D-MA	Niki Tsongas		Dec 12, 2013
D-IL	Tammy Duckworth		Feb 4, 2014
D-CT	Joe Courtney		Apr 28, 2014
D-MA	Michael E. Capuano		Jul 9, 2014
D-FL	Lois Frankel		Jul 14, 2014

Committees 4

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 23, 2013
House	Veterans' Affairs Committee	Referred Oct 23, 2013
	Economic Opportunity Subcommittee	Referred Nov 4, 2013
	Disability Assistance and Memorial Affairs Subcommittee	Referred Feb 3, 2014
House	Armed Services Committee	Referred Oct 23, 2013
	Military Personnel Subcommittee	Referred Jan 24, 2014
House	Oversight and Government Reform Committee	Referred Oct 23, 2013

Actions 5

Everything that happened, newest first.

Feb 3, 2014Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
Jan 24, 2014Referred to the Subcommittee on Military Personnel.
Nov 4, 2013Referred to the Subcommittee on Economic Opportunity.
Oct 23, 2013Introduced in House
Oct 23, 2013Referred to the Committee on Financial Services, and in addition to the Committees on Veterans' Affairs, Armed Services, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article I, Section 8, Clause 3 (relating to the power of Congress to regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes.)

The sponsor’s statement, as printed in the page H6769.

Printed hearings 1

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. 113-69	IMPROVING FCC PROCESS161 pages	Energy and Commerce Committee	Jul 11, 2013

Titles 3

Every title it has carried, official and short, at each stage.

Official Title as Introduced: To provide for additional protections and disclosures to consumers when financial products or services are related to the consumers' military or Federal pensions, and for other purposes.
Short Titles as Introduced: ASSURE Act of 2013; Annuity Safety and Security Under Reasonable Enforcement Act of 2013

Subjects

Assigned by the Library of Congress. Policy area: Finance and Financial Sector.

Text 1

Each version as it was printed, newest first.

Oct 23, 2013Introduced in House

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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.