S. 4116: A bill to amend the Federal Deposit Insurance Act, to clarify the scope of provisions relating to applicable rates of interest and other charge limitations.

109th Congress · introduced 2006-12-08 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2006-12-08 · official record
Who proposed it: Sen. Lincoln, Blanche L. [D-AR] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
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

A bill to amend the Federal Deposit Insurance Act, to clarify the scope of provisions relating to applicable rates of interest and other charge limitations.

Plain summary

Amends the Federal Deposit Insurance Act with respect to applicable rates of interest and other charge limitations in connection with interstate bank mergers. Sets 17% per annum, or such lower limit as the state legislature may impose, on the maximum interest, discount points, finance charges or fees that may be charged in a state, until judgment, in any loan or credit sale or on any note or other evidence of debt issued to or acquired by any person (other than an insured depository institution) engaged in the business of lending, or of selling or financing the sale of personal property, upon establishment in the state of a branch of any out-of-state insured depository institution. Includes among such persons any person or entity engaged in the business of providing cash advances or loans to a consumer in exchange for the consumer's personal check or share draft, or personal authorization to debit the consumer's transaction acount, in the amount of the advance plus a fee. Includes also any such person or entity that provides such a cash advance or loan in exchange for holding title or means of access to personal property pending repayment of the obligation.

Congressional Research Service summary (Introduced in Senate), 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

A bill to amend the Federal Deposit Insurance Act, to clarify the scope of provisions relating to applicable rates of interest and other charge limitations.

Source: Congressional Research Service summary (Introduced in Senate)

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Alternatives

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

Officials and money

Sponsor: Sen. Lincoln, Blanche L. [D-AR] · 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 (4)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Legislature: The elected body that makes laws. In Texas it has a House of Representatives (150 members) and a Senate (31 members). In Florida it has a House of Representatives (120 members) and a Senate (40 members).
Obligation: A binding promise by a government agency to pay money, for example by signing a contract or awarding a grant. Spending data such as USAspending.gov counts money when it is obligated, which can be before it is actually paid out.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-109s4116.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/109/s>

Record fed-us-cong109-s4116 · catalog fed-us-congress-bills-cong109 · updated 2026-11-15 by psicol fed-bills-cong109