Skip to main content
HR 1461 105th Congress House Finance and Financial Sector Administrative procedure Bank capital Bank deposits Branch banking Checking accounts Checks Commerce Community development banking Consumer credit Credit unions Department of the Treasury Deposit insurance Disaster relief Emergency Management Federal Deposit Insurance Corporation Financial deregulation Flood insurance Floods Government Operations and Politics

Depository Institutions Disaster Relief Act of 1997

Introduced: April 24, 1997 See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 16, 1997
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Apr 24, 1997
Referred to the House Committee on Banking and Financial Services.
Apr 24, 1997
Introduced in House
 Plain-English summary Congressional Research Service

Depository Institutions Disaster Relief Act of 1997 - Authorizes the Board of Governors of the Federal Reserve System to make exceptions to the Truth in Lending Act and the Expedited Funds Availability Act with respect to transactions and depository institutions located within national disaster areas produced by the 1997 flooding of the Red River and its tributaries, if the Board determines that the exception can reasonably be expected to alleviate hardships to the public that outweigh possible adverse effects.

Authorizes the appropriate Federal banking agency to permit an insured depository institution in such a disaster area, which also meets certain other requirements, to subtract the amount of disaster insurance proceeds or governmental assistance from its total assets when calculating compliance with mandatory leverage limits of the Federal Deposit Insurance Act.

Authorizes the Board and other Federal banking agencies to disregard specified rulemaking procedural and publication requirements of Federal law with respect to such depository institutions.

Expresses the sense of the Congress that specified Federal regulatory agencies should encourage depository institutions to meet the financial services needs of their communities and customers located in areas affected by the 1997 flooding of the Red River and its tributaries.

What's happening now May 16, 1997

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1