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 16, 2007
FDIC Enforcement Enhancement Act - Amends the Federal Deposit Insurance Act (FDIA) to prohibit use of the terms "Federal Deposit," "Federal Deposit Insurance," "Federal Deposit Insurance Corporation," any combination of such terms, or the abbreviation "FDIC," as part of the business name or firm name of any person or business entity, including any advertisement, solicitation, or other document.
Prohibits use of such terms, or any other sign or symbol as part of a document, to represent, suggest, or imply that any deposit liability, obligation, certificate, or share is insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) if in fact the instrument is not insured or guaranteed by the FDIC.
Prohibits knowing misrepresentations of: (1) the federally insured status of any deposit liability, obligation, certificate, or share; or (2) the extent or the manner in which such instruments are insured by the FDIC.
Showing the opening paragraphs of the official summary.
Grants the FDIC jurisdiction over any person that violates this Act, and certain enforcement authority as if the person were a state nonmember insured bank.
Empowers the FDIC to issue orders requiring: (1) immediate cessation; and (2) affirmative action to prevent any further violation, or to remedy an existing one.
Subjects violations of this Act to civil money penalties.
People & committees
Rep. Sires, Albio [D-NJ-13] · D–NJ
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 H7788)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7788)
Considered as unfinished business. (consideration: CR H7819)
ORDER OF PROCEDURE - Mr. Hastings(FL) asked unanimous consent that the proceedings by which the yeas and nays were ordered on the motion to suspend the rules and pass H.R. 2547, as amended, be vacated to the end that the Chair put the question de novo. Agreed to without objection.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
DEBATE - The House proceeded with forty minutes of debate on H.R. 2547.
Considered under suspension of the rules. (consideration: CR H7788-7789)
Mr. Sires moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 145.
Reported by the Committee on Financial Services. H. Rept. 110-234.
Reported by the Committee on Financial Services. H. Rept. 110-234.
Ordered to be Reported by Voice Vote.
Committee Consideration and Mark-up Session Held.
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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Analyze H.R.2547 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.2547 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.2547 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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