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S. 1947: Preserving Independence of Financial Institution Examinations Act of 2003

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S. 1947: Preserving Independence of Financial Institution Examinations Act of 2003

108th Congress · introduced 2003-11-24 · Crime and Law Enforcement · Latest: Became Public Law No: 108-198.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2003-11-24 · official record
  2. Who proposed it: Sen. Leahy, Patrick J. [D-VT] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Became Public Law No: 108-198. (final step reached)
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Preserving Independence of Financial Institution Examinations Act of 2003

Plain summary

(This measure has not been amended since it was introduced. The expanded summary of the Senate passed version is repeated here.) Preserving Independence of Financial Institution Examinations Act of 2003 - (Sec. 2) Amends Federal criminal law to subject to criminal penalties: (1) personnel of a financial institution who offer a loan or gratuity to a financial institution examiner; and (2) a financial institution examiner who accepts such loan or gratuity. Authorizes a Federal financial institution regulatory agency to prescribe regulations establishing additional limitations on the application for and receipt of credit and on the application and receipt of residential mortgage loans, after consulting with each other Federal financial institution regulatory agency. Excludes from the meaning of financial institution covered by this Act a credit union, a Federal Reserve Bank, a Federal home loan bank, or a depository institution holding company. States that the term "loan" does not include any credit card account established under an open end consumer credit plan, or a loan secured by residential real property that is the principal residence of the examiner, if certain requirements are met.

Congressional Research Service summary (Passed House without amendment), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Preserving Independence of Financial Institution Examinations Act of 2003

Source: Congressional Research Service summary (Passed House without amendment)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Leahy, Patrick J. [D-VT] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Rulemaking
The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong108-s1947 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108