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HR 1015 102th Congress House

Financial Assistance to Institutions Reform Act of 1991 (FAIR ACT)

Official title: To authorize the Secretary of the Treasury to establish an emergency loan assistance program to provide financial assistance to States that have experienced a … Show full official titleShow less

Official title: To authorize the Secretary of the Treasury to establish an emergency loan assistance program to provide financial assistance to States that have experienced a large number of financial institution failures.

Introduced: February 20, 1991 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
Finance and Financial Sector Bank failuresBondsDeposit insuranceDisaster loans
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Government lendingGovernment securitiesInterest rates
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This bill died when the 102nd Congress ended
It never became law before the 102nd Congress (1991–1992) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 3, 1991
Referred to the Subcommittee on Legislation and National Security.
Mar 1, 1991
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Feb 20, 1991
Referred to the House Committee on Government Operations.
Feb 20, 1991
Referred to the House Committee on Banking, Finance + Urban Affrs.
Feb 20, 1991
Introduced in House
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 Latest action July 3, 1991

Referred to the Subcommittee on Legislation and National Security.

 Plain-English summary Congressional Research Service

Financial Assistance to Institutions Reform Act of 1991 (FAIR Act) - Directs the Secretary of the Treasury to establish and implement an emergency loan assistance program for the purpose of providing financial institution assistance loans to States in which: (1) depositors cannot access their account funds for certain periods due to the simultaneous insolvency of more than one-third of the State's financial institutions; (2) the Governor has declared a bank holiday due to the insolvency of a non-Federal deposit insurance fund responsible for insuring deposits at certain financial institutions.

Sets forth participation requirements including: (1) the submission of a State comprehensive financial institution reorganization plan which meets the Secretary's approval; (2) obtaining Federal deposit insurance by a financial institution that has resumed business as a result of receiving State emergency loan assistance; and (3) loan repayment guidelines for recipient States.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
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APA
U.S. Congress. (2026). H.R. 1015: Financial Assistance to Institutions Reform Act of 1991 (FAIR ACT). 102nd Congress. Open America. https://openamerica.io/bill/102-HR-1015/
MLA
"H.R. 1015: Financial Assistance to Institutions Reform Act of 1991 (FAIR ACT)." 102nd Congress, 2026, Open America, https://openamerica.io/bill/102-HR-1015/.
Bluebook (legal)
H.R. 1015, 102nd Cong. (2026), https://openamerica.io/bill/102-HR-1015/.
Markdown link
[H.R. 1015: Financial Assistance to Institutions Reform Act of 1991 (FAIR ACT)](https://openamerica.io/bill/102-HR-1015/)
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