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HR 557 107th Congress House

Deposit Insurance Fairness and Economic Opportunity Act

Official title: To amend the Federal Deposit Insurance Act and the Federal Home Loan Bank Act to provide for the payment of Financing Corporation interest obligations from bal… Show full official titleShow less

Official title: To amend the Federal Deposit Insurance Act and the Federal Home Loan Bank Act to provide for the payment of Financing Corporation interest obligations from balances in the deposit insurance funds in excess of an established ratio and, after such obligations are satisfied, to provide for rebates to insured depository institutions of such excess reserves.

Introduced: February 12, 2001 Introduced by: Lucas, Frank D. Republican · Oklahoma See on congress.gov
Finance and Financial Sector Bank failuresCommerceDeposit insuranceEconomics and Public Finance
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Financing CorporationGovernment Operations and PoliticsGovernment corporationsGovernment trust fundsInterestRebatesSavings and loan associationsTax-exempt securities
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 2, 2001
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Feb 12, 2001
Referred to the House Committee on Financial Services.
Feb 12, 2001
Introduced in House
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 Latest action March 2, 2001

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service
Deposit Insurance Fairness and Economic Opportunity Act - Amends the Federal Deposit Insurance Act to set forth a schedule under which the Board of Directors of the Federal Deposit Insurance Corporation shall transfer annually to the Financing Corporation (FICO), for payment of FICO interest obligations, such amounts as exceed 1.40 percent of the total estimated deposits insured by the Bank Insurance Fund and the Savings Association Insurance Fund, respectively, when amounts in both Funds exceed that percentage.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). H.R. 557: Deposit Insurance Fairness and Economic Opportunity Act. 107th Congress. Open America. https://openamerica.io/bill/107-HR-557/
MLA
"H.R. 557: Deposit Insurance Fairness and Economic Opportunity Act." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-557/.
Bluebook (legal)
H.R. 557, 107th Cong. (2026), https://openamerica.io/bill/107-HR-557/.
Markdown link
[H.R. 557: Deposit Insurance Fairness and Economic Opportunity Act](https://openamerica.io/bill/107-HR-557/)
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