Text: H.R.5038 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in House (04/15/2010)


111th CONGRESS
2d Session
H. R. 5038


To repeal the Community Reinvestment Act of 1977.


IN THE HOUSE OF REPRESENTATIVES

April 15, 2010

Mr. Hensarling (for himself and Mr. Bachus) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To repeal the Community Reinvestment Act of 1977.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Fair Access to Credit and Job Creation Act of 2010”.

SEC. 2. Repeal of the Community Reinvestment Act of 1977.

(a) In general.—The Community Reinvestment Act of 1977 (12 U.S.C. 2901 et seq.) is hereby repealed.

(b) Conforming amendment.—Section 48 of the Federal Deposit Insurance Act (12 U.S.C. 1831y) is hereby repealed.