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HR 7226 110th Congress House

Net Worth Certificate Program Act of 2008

Official title: To direct the Federal Deposit Insurance Corporation to create a "net worth certificate" program along the lines of what Congress enacted in the 1980s for the savings and loan industry.

Introduced: September 29, 2008 See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationCorporate finance and management
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Federal Deposit Insurance Corporation (FDIC)Financial crises and stabilizationGovernment lending and loan guaranteesSecuritiesWages and earnings
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 29, 2008
Referred to the House Committee on Financial Services.
Sep 29, 2008
Introduced in House
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 Latest action September 29, 2008

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Net Worth Certificate Program Act of 2008 - Directs the Chairman of the Federal Deposit Insurance Corporation (FDIC) to create a net worth certificate program that will settle the financial markets without significant expense to taxpayers.

States that such program will be authorized to purchase net worth certificates by issuing FDIC senior notes to the banks in the form of subordinated debentures, or in any other form the Chairman determines meets program goals and requirements.

Requires the Chairman to certify that a bank eligible for the program is both: (1) in danger of failing; and (2) could be viable if given more time.

Requires the Chairman to issue new, strict supervision rules for banks that wish to enter the program, including oversight of top executive compensation and removal of poor management.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Republican 5
R
Blackburn, Marsha
Tennessee · Sep 29, 2008
 R
Carter, John R.
Texas · Sep 29, 2008
 R
Foxx, Virginia
North Carolina · Sep 29, 2008
 R
McCaul, Michael T.
Texas · Sep 29, 2008
Sali, Bill
· Sep 29, 2008
 R
Sessions, Pete
Texas · Sep 29, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7226: Net Worth Certificate Program Act of 2008. 110th Congress. Open America. https://openamerica.io/bill/110-HR-7226/
MLA
"H.R. 7226: Net Worth Certificate Program Act of 2008." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-7226/.
Bluebook (legal)
H.R. 7226, 110th Cong. (2026), https://openamerica.io/bill/110-HR-7226/.
Markdown link
[H.R. 7226: Net Worth Certificate Program Act of 2008](https://openamerica.io/bill/110-HR-7226/)
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