HR 2547 · 110th Congress · Finance and Financial Sector
FDIC Enforcement Enhancement Act
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2007-07-17)
Plain Language Summary
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FDIC Enforcement Enhancement Act - Amends the Federal Deposit Insurance Act to prohibit use of the terms "Federal Deposit," "Federal Deposit Insurance," "Federal Deposit Insurance Corporation," any combination of such terms, or the abbreviation "FDIC," as part of the business name or firm name of any person or business entity. Prohibits use of such terms, or any other sign or symbol as part of a document, to represent, suggest, or imply that any deposit liability, obligation, certificate, or share is insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) if in fact the instrument is not insured or guaranteed by the FDIC. Prohibits misrepresentations of: (1) the federally insured status of any deposit liability, obligation, certificate, or share; or (2) the extent or the manner in which such instruments are insured by the FDIC. Grants the FDIC: (1) jurisdiction over violations of this Act; and (2) certain enforcement authority. Subjects violations of this Act to civil money penalties.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 2547, FDIC Enforcement Enhancement Act
Jul 12, 2007<p>Cost estimate for the bill as ordered reported by the House Committee on Financial Services on June 26, 2007</p>
Full CBO report ↗H.R. 2547, FDIC Enforcement Enhancement Act
Jul 12, 2007Cost estimate for the bill as ordered reported by the House Committee on Financial Services on June 26, 2007
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office