S 2700 · 98th Congress · Finance and Financial Sector

Insured Institutions Improvements Act of 1984

Introduced 1984-05-22· Sponsored by Sen. Garn, E. J. (Jake) [R-UT]· Senate

Bill Progress

Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Banking.(1984-05-22)

Plain Language Summary

[AI summary unavailable — showing source text] Insured Institutions Improvements Act of 1984 - Title I: Insurance of Accounts - Savings Insurance Protection Act of 1984 - Amends the National Housing Act to authorize the Federal Savings and Loan Insurance Corporation (FSLIC) to establish classes of accounts and to determine whether accounts in any such class constitute insured accounts. Authorizes the FSLIC to assess an additional premium against institutions which engage in activities not authorized for Federal associations or which exceed certain percentage-of-assets limitations. Title II: Enforcement - Savings Institutions Enforcement Act of 1984 - Amends the National Housing Act to extend the authority of the FSLIC concerning cease and desist proceedings to include institution-related parties that it determines are engaging in an unsafe or unsound practice in conducting the business of an insured institution. Requires the FSLIC to show some dissipation of assets or some weakening of an insured institution (currently a substantial dissipation of assets or a serious weakening) in order to constitute grounds for issuing a temporary cease and desist order. Revises provisions dealing with the suspension or removal of directors an…

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