H.R.2909 - To provide an incentive system for banks and thrifts to extend credit, take deposits, and to locate in distressed neighborhoods, and for other purposes.102nd Congress (1991-1992)
|Sponsor:||Rep. Ridge, Thomas J. [R-PA-21] (Introduced 07/16/1991)|
|Committees:||House - Banking, Finance, and Urban Affairs|
|Latest Action:||House - 08/01/1991 Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance. (All Actions)|
This bill has the status Introduced
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Summary: H.R.2909 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in House (07/16/1991)
Directs the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation to establish minimum requirements for accounts providing basic consumer depository services in order for such accounts to qualify as lifeline accounts.
Provides assessment credits for qualifying depository institution activities in distressed communities.
Establishes the Community Enterprise Assessment Credit Board.
Authorizes a depository institution located in a distressed community to sell insurance under specified conditions.