Like Countable?

Install the App

senate Bill S. 3052

Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010

bill Progress

  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
    IntroducedMarch 1st, 2010

Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.

Suggest an update to this bill using our form.


Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010

Official Title

A bill to address the establishment and maintenance of the Systemic Resolution Fund of the Federal Deposit Insurance Corporation, and for other purposes.


Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010 - Establishes the Systemic Resolution Fund, to be administered by the Federal Deposit Insurance Corporation (FDIC), to: (1) cover the costs of the FDIC, including as receiver, in exercising its rights, authorities, and powers, and in fulfilling its obligations and responsibilities; (2) repay initial capitalization appropriations; and (3) cover the costs of systemic stabilization purposes. Prohibits the use of amounts in the Fund to convert or maintain a financial company that is insolvent or in receivership, except to the extent necessary to insure systemic stabilization in the company's resolution. Requires all amounts assessed against a financial company under this Act to be deposited into the Fund. Directs the FDIC to: (1) impose assessments on financial companies for Fund maintenance and, if need be, replenishment; and (2) establish a mechanism whereby the systemic risk regulator reallocates annually the assessments for the Fund among all the systemically risky financial companies. Prohibits the FDIC from imposing an assessment on any financial company which it determines does not pose a systemic risk to the U.S. financial system.

    There are currently no opinions on this bill, be the first to add one!