S. 2430 (103rd): A bill to facilitate recovery from the recent flooding in Georgia, Alabama, and Florida resulting from Tropical Storm Alberto by providing greater flexibility for depository institutions and their regulators, and for other purposes.

Introduced:
Aug 25, 1994 (103rd Congress, 1993–1994)
Sponsor:
Sen. Samuel Nunn [D-GA]
Status:
Died (Passed Senate)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced in a previous session of Congress and was passed by the Senate on August 25, 1994 but was never passed by the House.

Progress
Introduced Aug 25, 1994
Passed Senate Aug 25, 1994
Cosponsors
1 cosponsors (1R) (show)
Committees

House Financial Services

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Last updated Sep 12, 1994.
9 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

8/25/1994--Introduced.
Directs the Board of Governors of the Federal Reserve System to make exceptions to the Truth in Lending Act and the Expedited Funds Availability Act for a specified time for transactions within an area eligible for disaster relief due to the 1994 flood damage from Tropical Storm Alberto (the Storm) in Georgia, Alabama, and Florida (if it determines that this can alleviate hardships to the public that outweigh possible adverse effects). Cites circumstances under which the appropriate Federal banking agency may permit an insured depository institution in the disaster area, in calculating compliance with the leverage limit prescribed by the Federal Deposit Insurance Act, to subtract from its total assets an amount not exceeding the qualifying amount attributable to insurance proceeds. Expresses the sense of the Congress that specified Federal banking regulatory agencies should encourage depository institutions to meet the financial services needs of their communities and customers located in such disaster areas affected by the Storm.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

The United States Code is the compilation of permanent laws enacted by Congress. Temporary and other non-permanent laws do not appear in the United States Code. (About half of the United States Code is the law itself, called positive law. The other half is merely a compilation of the laws but has no legal significance.)

  • Title 5: GOVERNMENT ORGANIZATION AND EMPLOYEES
  • Part I: THE AGENCIES GENERALLY
  • Chapter 5: ADMINISTRATIVE PROCEDURE
  • Subchapter II: ADMINISTRATIVE PROCEDURE
  • Section 553: Rule making

Other Citations

  • 31 U.S.C. Chapter 53