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 36 · Passed House amended · Jul 29, 2009
Neighborhood Preservation Act - Amends the Federal Deposit Insurance Act to authorize any depository institution (or affiliate) to lease, including lease with an option to purchase, to any individual for up to five years an interest in residential property which: (1) was or is security for an extension of credit by such depository institution (or affiliate); and (2) came under the institution's or affiliate's ownership or control through foreclosure (or a deed in lieu of foreclosure) on the extension of credit.
Directs the federal banking agencies to jointly prescribe specified safety and soundness regulations, including minimum capital requirements for such institutions or affiliates.
Permits extension of such a lease beyond five years if any federal or state law, including the Bank Holding Company Act of 1956, so permits.
Showing the opening paragraphs of the official summary.
States this Act applies only to leases entered into during the two-year period beginning on the date of the enactment of this Act.
States the intent of the Congress that: (1) no permanent change in policy on leasing foreclosed property is being established with respect to depository institutions and depository institution holding companies; and (2) bank leasing of foreclosed property authorized under this Act should not apply to leases entered into after such two-year period.
People & committees
Rep. Miller, Gary G. [R-CA-42] · R–CA
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 motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8971-8973)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8971-8973)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2529.
Considered under suspension of the rules. (consideration: CR H8971-8973)
Mr. Moore (KS) moved to suspend the rules and pass the bill, as amended.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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Analyze H.R.2529 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.2529 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.2529 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
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