Bachus #13
Strikes section 614 relating to the liability standards applied to third-party independent contractors working for a bank. LATE

Gutierrez #12
Delays implementation of the Office of the Comptroller of the Currency (OCC) preemption and visitorial rules by 5 years. WITHDRAWN

Jackson Lee #9
Expressing the sense of Congress that in situations where a requesting agency obtains expedited action to approve a merger transaction application between multiple depository institutions, that careful consideration is placed on the impact that the transaction will have on affected communities and customers of any or all of the applicant institutions. LATE

Jackson Lee #10
Requires that, upon advising the Attorney General of the need for expeditious action to prevent the probable failure of a depository institution, the requesting agency must submit to Congress comments and information concerning the agency's analysis of the effects of the merger transaction on customers and the affected communities based on post merger market share that will be controlled by the resulting entity. LATE

Kelly #6
Strikes section 107 concerning capital equivalency deposits for Federal branches and agencies of foreign banks.WITHDRAWN

Kelly #7
Requires the Office of the Comptroller of the Currency (OCC) to present annual testimony and report to Congress on the annual efforts, activities and objectives for the upcoming fiscal year. Requires the OCC to notify Congress no less than 10 days prior to approval of new rules and prevents the OCC from finalizing rules when both House and Senate are in recess for longer than 3 days. Expresses the sense of Congress that state and federal regulators work together to find ways to preserve and improve the longstanding benefits of the dual banking system in a way that enhances consumer protection and promotes growth in the financial services sector. Recommends that state and federal regulators and enforcement agencies create a task force to discuss these issues and report to Congress. WITHDRAWN

Kelly/Toomey #8
Adds new title at the end of the bill which removes the prohibition on banks from paying interest on business checking accounts and would allow the Federal Reserve to pay interest on so-called "sterile" reserves. The language of the amendment is similar to the text of H.R. 758, the Business Checking Freedom Act, which passed the House in April of 2003, by voice vote. LATE

Leach #5
Allows Industrial Loan Corporations (ILCs) to de novo branch; however, if the ILC in fact branches de novo or through an interstate merger transaction, the ILC and its holding company would be subject to supervision under the Bank Holding Company Act.

Oxley #11
Manager's Amendment. (1) Limits de novo branching for ILCs to those whose business is more that 85% financial in nature and, in the case of ILCs whose business is less than 85% financial in nature, limits branching to those ILCs who had Federal deposit insurance before October 1, 2003; (2) Makes technical revisions to section 303 requested by the NCUA; (3) Makes technical revisions to section 213 requested by OTS; (4) Strikes section 107; (5) Strikes section 214; (6) Strikes section 613; and (7) Makes technical changes to section 405 requested by the SEC. LATE

Royce #1
Strikes section 401(a) through (d) from the bill text. Section 401(a) through (d) allows for the de novo interstate branches of national banks, state non-member banks, and of state member banks. Additionally, it amends the Federal Deposit Insurance Act to permit interstate mergers between insured banks of different home states.

Royce #2
Strikes section 401 from the bill text. Section 401 allows for de novo interstate branches of national banks, state non-member banks, and of state member banks. Section 401 also contains provisions that amend the Federal Deposit Insurance Act to permit: (1) interstate mergers between insured banks of different home states; and (2) interstate fiduciary activity by a state-chartered trust company if approved by its state bank supervisor. Section 401 also amends the National Bank Consolidation and Merger Act to permit a national bank trust company merger with another trust company of a different home state.

Waters #4
Strikes section 609 of the bill. Section 609 reduces the minimum waiting period from 15 calendar days to 5 calendar days for banks and bank holding companies to merge with or acquire other banks or bank holding companies after the Department of Justice has approved a bank merger. The amendment preserves the existing 15 calendar day waiting period.

Weiner #3
Prohibits commercial banks from charging a fee to the depositor of a check that is returned for insufficient funds.

* Summaries derived from information submitted by the amendment sponsors.