HR 5942 · 111th Congress · Finance and Financial Sector

FFSCC Act of 2010

Introduced 2010-07-29· Sponsored by Rep. Baca, Joe [D-CA-43]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Financial Services.(2010-07-29)

Plain Language Summary

[AI summary unavailable — showing source text] FFSCC Act of 2010 - Authorizes the Comptroller of the Currency to provide for the organization, incorporation, examination, operation, regulation, and chartering of Federal Financial Services and Credit Companies (FFSCCs) to: (1) extend short-term and long-term credit; and (2) implement financial literacy programs. Imposes an annual fee upon FFSCCs payable to the Comptroller to offset the cost of implementing this Act. Directs the Comptroller to: (1) study rates and terms used in the extension of credit; and (2) develop a suite of FSCC financial products that will be fair to underbanked persons and economically viable for FFSCCs to offer.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (13)

13 Democrats