- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Financial ServicesIntroducedJuly 29th, 2010
- house Committees
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FFSCC Act of 2010
To create a charter for Federal Financial Services and Credit Companies.
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.