US Federal 2023-2024 Regular Session

US Federal Senate Bill SB817

Introduced
3/15/23  

Caption

SVB Act Secure Viable Banking Act

Impact

If SB817 is enacted, it would reintroduce stricter oversight and regulation of banking institutions. The implications of this could be significant for both banks and consumers, aiming to enhance consumer protections and reduce the risks of bank failures. The restoration of these regulations could lead to a more controlled banking environment, which proponents believe will mitigate the kind of financial crises that have occurred in the past, therefore promoting longer-term economic stability.

Summary

SB817, known as the Secure Viable Banking Act, proposes the repeal of Title IV of the Economic Growth, Regulatory Relief, and Consumer Protection Act. The primary intent of this bill is to restore previous banking regulations that were relaxed under the mentioned act. The sponsors of SB817 argue that reinstating these regulations is necessary to ensure the stability and security of the banking system, which, they contend, has been jeopardized due to the deregulation of banks that occurred previously.

Contention

However, not all stakeholders agree with the approach proposed by SB817. Critics of the bill may argue that reinstating these regulations could lead to increased costs for banks, which might, in turn, affect their ability to lend and offer competitive products to consumers. Additionally, opponents could assert that the regulatory environment should evolve to foster innovation within the banking industry, rather than revert to potentially outdated measures that could stifle growth and responsiveness to market conditions.

Companion Bills

US HB1602

Related SVB Act Secure Viable Banking Act

US HB1596

Related Stabilizing Vulnerable Banks 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 HB140

Protecting Speech from Government Interference Act This bill generally prohibits federal employees from censoring the speech of others while acting in an official capacity. Specifically, the bill prohibits employees of executive agencies or who are otherwise in the competitive service from (1) using their official authority to influence or advocate for a third party, including a private entity, to censor speech; (2) censoring the speech of any person who has a pending regulatory application with, or is the subject of or a participant in an active enforcement action by, the employee's office; or (3) engaging in censorship while on duty, wearing a uniform, or using official government property. Certain presidential appointees may not censor speech at any time, including outside normal duty hours. Employees are subject to disciplinary action, civil penalties, or both for violations. The bill defines censor or censorship to include ordering or advocating for the removal of lawful speech, the addition of disclaimers, or the restriction of access with respect to any platform (e.g., social media).

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.)

Similar Bills

No similar bills found.