H.R. 1723: Common Sense Economic Recovery Act of 2011

112th Congress · introduced 2011-05-04 · Finance and Financial Sector · Latest: Subcommittee Consideration and Mark-up Session Held.

federal

Follow this bill, step by step

Where it came from: introduced 2011-05-04 · official record
Who proposed it: Rep. Posey, Bill [R-FL-15] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Subcommittee Consideration and Mark-up Session Held. 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

Common Sense Economic Recovery Act of 2011

Plain summary

Common Sense Economic Recovery Act of 2011 - Cites circumstances under which, for purposes of determining capital requirements or measuring an insured depository institution's capital, such an institution may treat a non-accrual loan as an accrual loan. (Non-accrual [also known as non-performing or doubtful] loans are those on which interest is overdue and full collection of principal is uncertain, and so interest, if it has not been paid in over 90 days, cannot be credited to the bank's revenue account until it has actually been received.) Conditions treatment as an accrual loan on a non-accrual loan's being current, not more than 30 days delinquent on a monthly payment, and an amortizing loan whose payments are not being funded through an interest reserve account. Applies accrual loan treatment, to the same extent as non-modified mortgage loans, to modified mortgage loans meeting the criteria of this Act, including those that also meet the criteria for troubled debt restructuring. Prohibits the appropriate federal banking agency from imposing any additional accounting requirements upon an insured depository institution with respect to a loan treated as an accrual loan under this Act if the result of the additional requirement would adversely impact measurement of the institution's capital. Directs the Financial Stability Oversight Council to study how best to prevent the issuance of contradictory guidance to such institutions by federal banking agencies with respect to loan classifications and capital requirements.

Congressional Research Service summary (Introduced in House), 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

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

What does this mean? (plain words)

Official text

Common Sense Economic Recovery Act of 2011

Source: Congressional Research Service summary (Introduced in House)

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

Officials and money

Sponsor: Rep. Posey, Bill [R-FL-15] · 52 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Darrell Issa (R-CA), Daniel Webster (R-FL), Glenn Thompson (R-PA), Marsha Blackburn (R-TN), John R. Carter (R-TX), Andy Harris (R-MD), Tom Cole (R-OK), Tom McClintock (R-CA), Ken Calvert (R-CA), Robert E. Latta (R-OH), Maxine Waters (D-CA), Frederica S. Wilson (D-FL), Joe Wilson (R-SC), James Lankford (R-OK), Virginia Foxx (R-NC)

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)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr1723.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>

Record fed-us-cong112-hr1723 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112