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S 2867 111th Congress Senate Finance and Financial Sector Bank accounts, deposits, capital Congressional oversight Credit and credit markets Financial crises and stabilization Public-private cooperation

A bill to require the Secretary of the Treasury to provide assistance to community depository institutions under the Public-Private Investment Program, and for other purposes.

Introduced: December 10, 2009 Introduced by: Murray, Patty Democratic · Washington See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 10, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 10, 2009
Introduced in Senate
 Plain-English summary Congressional Research Service

Instructs the Secretary of the Treasury to dedicate at least $30 billion out of amounts made available to implement the Troubled Asset Relief Program (TARP) in order to purchase troubled assets from community depository institutions under the Public-Private Investment Program.

Directs the Comptroller General, the Special Inspector General for TARP, and the Congressional Oversight Panel to report to Congress their evaluations and findings on the status and performance of such assistance.

Directs the chairperson of the board of directors of the Federal Deposit Insurance Corporation (FDIC) and the Secretary to report to Congress on the status of the Legacy Loans program, including: (1) barriers to attracting greater numbers of banks and investors to participate; (2) a detailed summary of all proposals being considered to address existing barriers and expand participation in the program; and (3) specific proposals to attract greater participation of community depository institutions.


What's happening now December 10, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1