- Not enactedThe President has not signed this bill
- The senate has not voted
Senate Committee on Banking, Housing, and Urban Affairs
- senate Committees
- The house Passed January 14th, 2014Roll Call Vote 417 Yea / 4 Nay
House Committee on Financial ServicesIntroducedFebruary 15th, 2013
- house Committees
What is it?
Gives savings and loan associations (S&Ls) the ability to avoid registering with the United States Securities and Exchange Commission (SEC). As part of the Jumpstart Our Business Startups Act (JOBS Act) of 2010, banks could avoid costly SEC registration if they had fewer than 2,000 shareholders, and could deregister if they had fewer than 1,200 shareholders. The Senate companion bill is identical and has not been voted on.
If enacted, the bill would mean less paper-pushing for smaller S&L associations.
The CBO estimates that the bill would have no significant effect on the federal budget.