H.R.6796 - Stop Very Unscrupulous Loan Transfers from Underprivileged countries to Rich, Exploitive Funds Act110th Congress (2007-2008)
|Sponsor:||Rep. Waters, Maxine [D-CA-35] (Introduced 08/01/2008)|
|Committees:||House - Judiciary; Financial Services|
|Latest Action:||08/01/2008 Referred to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)|
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Subject — Policy Area:
- Foreign Trade and International Finance
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Summary: H.R.6796 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (08/01/2008)
Stop Very Unscrupulous Loan Transfers from Underprivileged Countries to Rich, Exploitive Funds Act or the Stop VULTURE Funds Act - Prohibits: (1) any U.S. person from engaging in sovereign debt profiteering, or any person engaging in sovereign debt profiteering in the United States; and (2) any U.S. court from issuing a summons, subpoena, writ, judgment, attachment, or execution in aid of a claim which would further sovereign debt profiteering.
Sets forth: (1) required court disclosures in actions involving collection of sovereign debt; and (2) related responsibilities of the Secretary of the Treasury.