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S 1151 103th Congress Senate Finance and Financial Sector Administrative procedure Agricultural credit Agricultural economics Bank capital Bank examination Bank holding companies Bank loans Bank records Community development banking Congressional reporting requirements Consumer credit Credit Economic impact statements Executive orders Financial deregulation Government paperwork Regulatory impact statements Savings and loan associations Small business

Credit Crunch Relief Act of 1993

Introduced: June 24, 1993 See on congress.gov
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 24, 1993
Read twice and referred to the Committee on Banking.
Jun 24, 1993
Sponsor introductory remarks on measure. (CR S8086-8088)
Jun 24, 1993
Introduced in Senate
 Plain-English summary Congressional Research Service

Credit Crunch Relief Act of 1993 - Amends the Federal Deposit Insurance Act to exempt from certain loan documentation review requirements a loan to a small business or small farm that is identified by an eligible depository institution as a qualifying loan. Provides loan limitation amounts for such qualifying loans, allowing for certain adjustments.

Directs the President to: (1) conduct a thorough review and evaluation of all statutory and regulatory provisions affecting insured depository institutions; and (2) if determined appropriate, suspend the applicability of any Federal law or regulation or guideline promulgated by a Federal banking agency affecting such insured depository institutions. Requires Federal Register publication of such an order, as well as congressional notification. Prohibits a new regulation from being promulgated by a Federal banking agency until the agency has conducted a regulatory impact analysis and arrived at certain positive conclusions with respect to the costs and benefits of such regulation.

Amends the Community Reinvestment Act of 1977 to presume compliance with meeting credit needs for a regulated financial institution that has received satisfactory or outstanding ratings in its most recent written evaluation.

Amends the Federal Deposit Insurance Corporation Improvement Act of 1991 to extend until January 1, 1996, the required promulgation of final standards for insured depository institution operational and managerial safety and soundness.

Requires each Federal banking agency to: (1) conduct a survey of financial services users to determine awareness and benefits of Federal banking laws; and (2) report to specified congressional committees on survey results.

What's happening now June 24, 1993

Read twice and referred to the Committee on Banking.

 Committees of jurisdiction 1