H.R. 4808 (105th): Depository Institution-GSE Affiliation Act of 1998

Introduced:
Oct 12, 1998 (105th Congress, 1997–1998)
Status:
Died (Referred to Committee)
Sponsor
Vincent Snowbarger
Representative for Kansas's 3rd congressional district
Party
Republican
Text
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Last Updated
Oct 12, 1998
Length
6 pages
 
Status

This bill was introduced on October 12, 1998, in a previous session of Congress, but was not enacted.

Progress
Introduced Oct 12, 1998
Referred to Committee Oct 12, 1998
 
Full Title

To amend the Federal Deposit Insurance Act to permit an affiliation between a depository institution and the holding company successor to the Student Loan Marketing Association under certain circumstances and subject to certain conditions.

Summary

No summaries available.

Cosponsors
2 cosponsors (1D, 1R) (show)
Committees

House Financial Services

Financial Institutions and Consumer Credit

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


10/12/1998--Introduced.
Depository Institution-GSE Affiliation Act of 1998 - Amends the Federal Deposit Insurance Act to specify circumstances under which the Secretary of the Treasury may:
(1) approve an affiliation between a depository institution and the Student Loan Marketing Association (SALLIE MAE) solely in its reorganized, privatized status as "the Holding Company," not in its status as a government sponsored enterprise (GSE); and
(2) impose affiliation terms and conditions, including constraints upon either the issuance of debt obligations by SALLIE MAE in its GSE status, or upon the use of proceeds from such obligations.
(Current law prohibits affiliations between depository institutions and GSEs.) Limits the value of the investment portfolio of SALLIE MAE in its GSE status in the event such affiliation should occur to the lesser of:
(1) its value upon enactment of this Act; or
(2) its value on the date such affiliation is consummated.
Grants the Secretary enforcement powers under the Higher Education Act of 1965.

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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