US Federal 2023-2024 Regular Session

US Federal House Bill HB1602

Introduced
3/14/23  

Caption

SVB Act Secure Viable Banking Act

Impact

If enacted, the Secure Viable Banking Act would reinstate certain regulatory provisions that were aimed at enhancing financial oversight and protecting consumers. This change is expected to recalibrate the balance between regulatory relief and necessary oversight, potentially impacting how banks operate, particularly in their lending practices and risk management. The act could lead to a more cautious approach from financial institutions in their dealings, promoting greater accountability and stability within the banking sector.

Summary

House Bill 1602, known as the Secure Viable Banking Act, proposes to repeal Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act. This repeal would restore banking regulations that were previously in place prior to the enactment of Title IV. The bill aims to address concerns that the deregulatory measures established under the previous Act contributed to systemic risks in the financial sector, particularly as evidenced by recent banking crises. Supporters of the bill believe that reinstating these regulations is essential for safeguarding the economy and consumers against potential financial instability.

Contention

Debates surrounding HB1602 may highlight tensions between the desire for stringent regulatory frameworks and the advocacy for free-market principles that prioritize minimal governmental intervention. Critics of the repeal argue that excessive regulations can stifle innovation and slow economic growth, while proponents contend that the failure to adequately regulate financial institutions can lead to severe economic consequences, such as bank failures and consumer losses. The discussion on this bill highlights an ongoing struggle in shaping the regulatory landscape of the financial industry, balancing consumer protections with the need for economic development.

Companion Bills

US HB1596

Related Stabilizing Vulnerable Banks Act

US SB817

Related SVB Act Secure Viable Banking Act

Previously Filed As

US HB82

Social Security Fairness Act of 2023 This bill repeals provisions that reduce Social Security benefits for individuals who receive other benefits, such as a pension from a state or local government. The bill eliminates the government pension offset, which in various instances reduces Social Security benefits for spouses, widows, and widowers who also receive government pensions of their own. The bill also eliminates the windfall elimination provision, which in some instances reduces Social Security benefits for individuals who also receive a pension or disability benefit from an employer that did not withhold Social Security taxes. These changes are effective for benefits payable after December 2023.

US HB26

Born-Alive Abortion Survivors Protection Act This bill establishes requirements for the degree of care a health care practitioner must provide in the case of a child born alive following an abortion or attempted abortion. Specifically, a health care practitioner who is present must (1) exercise the same degree of care as would reasonably be provided to any other child born alive at the same gestational age, and (2) ensure the child is immediately admitted to a hospital. Additionally, a health care practitioner or other employee who has knowledge of a failure to comply with the degree-of-care requirements must immediately report such failure to law enforcement. A health care practitioner who fails to provide the required degree of care, or a health care practitioner or other employee who fails to report such failure, is subject to criminal penalties—a fine, up to five years in prison, or both. An individual who intentionally kills or attempts to kill a child born alive is subject to prosecution for murder. The bill bars the criminal prosecution of a mother of a child born alive under this bill and allows her to bring a civil action against a health care practitioner or other employee for violations.

US HB163

Security First Act This bill reauthorizes the Operation Stonegarden program from FY2024 through FY2027 and addresses other border security issues. (Operation Stonegarden provides grants to enhance the border security capabilities of state, local, and tribal governments.) From FY2024 through FY2027, the money from unreported monetary instruments seized from individuals crossing the U.S.-Mexico border and transferred into the Department of the Treasury general fund shall be made available without further appropriation to the Department of Homeland Security (DHS) to fund Operation Stonegarden. DHS must report to Congress on (1) DHS hiring practices from 2018 to 2021, and (2) whether certain Mexican drug cartels meet the criteria to be designated as foreign terrorist organizations. DHS must also periodically report to Congress about the technology needed to secure the U.S.-Mexico land border.

US HB49

Require Evaluation before Implementing Executive Wishlists Act of 2023 or the REVIEW Act of 2023 This bill prohibits a final agency rule from taking effect until (1) the agency submits the rule to the Office of Information and Regulatory Affairs (OIRA), and (2) OIRA makes a determination as to whether the rule is a high-impact rule that may impose an annual cost on the economy of at least $1 billion. In addition, an agency must postpone the effective date of a high-impact rule until the final disposition of all actions seeking judicial review of the rule.

US HB40

Commission to Study and Develop Reparation Proposals for African Americans Act This bill establishes the Commission to Study and Develop Reparation Proposals for African Americans. The commission must (1) compile documentary evidence of slavery in the United States; (2) study the role of the federal and state governments in supporting the institution of slavery; (3) analyze discriminatory laws and policies against freed African slaves and their descendants; and (4) recommend ways the United States may recognize and remedy the effects of slavery and discrimination on African Americans, including through a formal apology and compensation (i.e., reparations). The commission consists of individuals from civil society and reparations organizations and individuals appointed by the President and congressional leadership; Members of Congress and governmental employees may not serve on the commission. The commission may hold hearings, subpoena witnesses and records, and contract with other entities to conduct its work. The commission must submit its final report within 18 months of its first meeting.

US HB62

Safeguard Healthcare Industry Employees from Litigation and Distress Act or the SHIELD Act This bill establishes a framework to limit interference with persons seeking to provide or access reproductive health services at the state level. For the purposes of this summary, interference with persons seeking to provide or access reproductive health services includes acts to prevent, restrict, impede, or retaliate against a health care provider who provides reproductive health care services, any person or entity who helps health care providers to provide such services, any person who seeks to access such services, or any person or entity who helps another person to access such services. First, the bill reduces the allocation of funds under certain law enforcement grant programs for a state that has in effect a law authorizing state or local officers or employees to interfere with persons seeking to provide or access reproductive health services. Second, the bill prohibits interference with persons seeking to provide or access reproductive health care services by state or local officers or employees acting under color of law in any manner that would have a discriminatory effect on a woman, and by persons who are not state or local officers or employees and are attempting to implement or enforce a state law in circumstances affecting interstate commerce. The bill authorizes civil remedies for a violation, including damages and injunctive relief. Additionally, it authorizes criminal penalties for a violation involving the use of a deadly or dangerous weapon or the infliction of bodily injury.

US HB38

Concealed Carry Reciprocity Act This bill establishes a federal statutory framework to regulate the carry or possession of concealed firearms across state lines. Specifically, an individual who is eligible to carry a concealed firearm in one state may carry or possess a concealed handgun (other than a machine gun or destructive device) in another state that allows its residents to carry concealed firearms. It sets forth requirements for the lawful concealed carry across state lines. The bill preempts most state and local laws related to concealed carry and establishes a private right of action for a person adversely affected by interference with a concealed-carry right established by this bill.

US HB242

Equal Rights and Access for the Women of South Sudan Act This bill requires that activities carried out by the United States in South Sudan relating to governance, post-conflict reconstruction and development, police and military training, or refugee relief and assistance support the human rights of women and their full political, social, and economic participation.

US HB35

Close the Medigap Act of 2023 This bill (1) expands guaranteed issue rights with respect to Medigap policies (Medicare supplemental health insurance policies), (2) eliminates certain limitations on Medigap policies for newly eligible Medicare beneficiaries, and (3) modifies other provisions related to Medigap policies. (Guaranteed issue rights require that a policy be offered to any eligible applicant without regard to health status.)

US HB33

Medicare Dental, Vision, and Hearing Benefit Act of 2023 This bill provides for Medicare coverage of dental, vision, and hearing care. Coverage includes (1) routine dental cleanings and exams, basic and major dental services, emergency dental care, and dentures; (2) routine eye exams, eyeglasses, and contact lenses; and (3) routine hearing exams, hearing aids, and exams for hearing aids. With respect to such care, the bill establishes special payment rules, limitations, and coinsurance requirements.

Similar Bills

No similar bills found.