HR 5942
111th Congress
House
Finance and Financial Sector
Consumer affairs
Consumer credit
Financial literacy
Financial services and investments
Government corporations and government-sponsored enterprises
Government studies and investigations
Small business
User charges and fees
FFSCC Act of 2010
Introduced: July 29, 2010
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 2010
Referred to the House Committee on Financial Services.
Jul 29, 2010
Introduced in House
Plain-English summary
FFSCC Act of 2010 - Authorizes the Comptroller of the Currency to provide for the organization, incorporation, examination, operation, regulation, and chartering of Federal Financial Services and Credit Companies (FFSCCs) to: (1) extend short-term and long-term credit; and (2) implement financial literacy programs.
Imposes an annual fee upon FFSCCs payable to the Comptroller to offset the cost of implementing this Act.
Directs the Comptroller to: (1) study rates and terms used in the extension of credit; and (2) develop a suite of FSCC financial products that will be fair to underbanked persons and economically viable for FFSCCs to offer.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1