PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in House · Mar 20, 2003
Financial Services Regulatory Relief Act of 2003 - Amends the Revised Statutes of the United States to: (1) revise capital stock ownership requirements for directors of national banks and national bank dividends; and (2) repeal the capital requirements for new intrastate branches, including capital stock and surplus requirements.Amends the Home Owners' Loan Act to prescribe guidelines for investments by a Federal savings association to promote the public welfare, including that of low- and moderate-income communities or families through housing, services, and jobs.Permits mergers of Federal savings association with nondepository institution affiliates.Amends the Federal Home Loan Bank Act to permit certain privately insured credit unions to become Federal Home Loan Bank members.Amends the Federal Credit Union Act (FCUA) to: (1) authorize a credit union to make investment securities for its own account; (2) increase the 12-year loan limitation to 15 years; (3) increase the investment limit in credit union service organizations; (4) exempt loans to nonprofit religious organizations from the restrictions relating to credit union net worth or capitalization standards; and (5) exempt multiple common-bond credit union mergers and conversions from numerical limitations.Amends the FDIA to permit interstate bank mergers between insured banks with different home States.Amends the National Bank Consolidation and Merger Act to permit the merger of a national bank which is a trust company with any trust company with a different home State under the same terms and conditions as though they were located in the same State.Amends the National Bank Receivership Act and the FDIA to permit a bank placed in receivership to bring an action for a Federal court order requiring removal of the receiver.Amends the FRA and the Bank Holding Company Act Amendments of 1970 to repeal specified insider lending reporting requirements.Amends the Depository Institution Management Interlocks Act to quintuple the size of the assets of a small depository institution exempt from the prohibition against depository institution management interlocks in the same metropolitan statistical area.Amends the Bank Holding Company Act of 1956 to exempt from the proscription against cross marketing of commercial activities those depository institutions that are controlled by a twenty-five percent (or less) holding-company-shareholder.
People & committees
Rep. Capito, Shelley Moore [R-WV-2] · R–WV
Legislative record
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by the Yeas and Nays: 392 - 25 (Roll no. 69).
House roll call 69 · Individual votesPassed/agreed to in House: On passage Passed by the Yeas and Nays: 392 - 25 (Roll no. 69).
House roll call 69 · Individual votesThe House rose from the Committee of the Whole House on the state of the Union to report H.R. 1375.
POSTPONED VOTE - At the conclusion of debate on the Kelly amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the ayes had prevailed. Mrs. Kelly deanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
DEBATE - Pursuant to House Resolution 566, the Committee of the Whole proceeded with ten minutes of debate on the Kelly amendment.
POSTPONED VOTE - At the conclusion of debate on the Jackson-Lee amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Ms. Jackson-Lee demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with ten minutes of debate on the Jackson-Lee amendment.
POSTPONED VOTE - At the conclusion of debate on the Weiner amendment, the Chair put the question on adoption of the amendment and by voice vote, announced that the noes had prevailed. Mr. Weiner demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until later in the legislative day.
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with ten minutes of debate on the Weiner amendment.
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with ten minutes of debate on the Bachus amendment.
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with ten minutes of debate on the Waters amendment.
DEBATE - Pursuant to House Resolution 566 the Committee of the Whole proceeded with twenty minutes of debate on the Oxley amendment.
GENERAL DEBATE - The Committee of the Whole proceeded with one hour of general debate on H.R. 1375.
The Speaker designated the Honorable Ray LaHood to act as Chairman of the Committee.
House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 566 and Rule XVIII.
Rule provides for consideration of H.R. 1375 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order.
Considered under the provisions of rule H. Res. 566. (consideration: CR H1234-1241, H1274; text of measure as reported in House: CR H1251-1262)
Rule H. Res. 566 passed House.
Rules Committee Resolution H. Res. 566 Reported to House. Rule provides for consideration of H.R. 1375 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. Measure will be considered read. Specified amendments are in order.
Supplemental report filed by the Committee on Financial Services, H. Rept. 108-152, Part III.
Supplemental report filed by the Committee on Financial Services, H. Rept. 108-152, Part III.
Placed on the Union Calendar, Calendar No. 113.
Reported (Amended) by the Committee on Judiciary. H. Rept. 108-152, Part II.
Reported (Amended) by the Committee on Judiciary. H. Rept. 108-152, Part II.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Subcommittee on Commercial and Administrative Law Discharged.
Referred to the Subcommittee on Commercial and Administrative Law.
Referred sequentially to the House Committee on the Judiciary for a period ending not later than July 14, 2003 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of that committee pursuant to clause 1(k), rule X.
Reported (Amended) by the Committee on Financial Services. H. Rept. 108-152, Part I.
Reported (Amended) by the Committee on Financial Services. H. Rept. 108-152, Part I.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Forwarded by Subcommittee to Full Committee (Amended) by Voice Vote.
Subcommittee Consideration and Mark-up Session Held.
Subcommittee Hearings Held.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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