S. 681: Greater Accountability in the Lending Fund Act of 2011

112th Congress · introduced 2011-03-30 · Commerce · Latest: Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S1991-1992)

federal

Follow this bill, step by step

Where it came from: introduced 2011-03-30 · official record
Who proposed it: Sen. Snowe, Olympia J. [R-ME] · 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 Small Business and Entrepreneurship. (text of measure as introduced: CR S1991-1992) 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

Greater Accountability in the Lending Fund Act of 2011

Plain summary

Greater Accountability in the Lending Fund Act of 2011 - Amends the Small Business Jobs Act of 2010 relating to the Small Business Lending Fund Program to: (1) remove a requirement that the capital investment received by an eligible small business under the Program be evidenced by stock or other financial instrument that carries the highest dividend or interest rate payable; (2) terminate the Program 15 years after the enactment of such Act; (3) prohibit the Secretary of the Treasury from making capital investments under the Program if the Federal Deposit Insurance Corporation (FDIC) is appointed receiver of 5% or more of the institutions receiving an investment under the Program; (4) prohibit Program participation by any institution in which the Secretary made an investment under the Troubled Asset Relief Program (TARP) under the Emergency Economic Stabilization Act of 2008; (5) revise provisions concerning consideration of private investment under the Program; (6) require the approval of (under current law, requires consultation with) appropriate financial regulators when determining whether an institution should receive a capital investment; and (7) revise the benchmark against which changes in the amount of small business lending shall be measured.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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A “Nay” vote

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What does this mean? (plain words)

Official text

Greater Accountability in the Lending Fund Act of 2011

Source: Congressional Research Service summary (Introduced in Senate)

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

Officials and money

Sponsor: Sen. Snowe, Olympia J. [R-ME] · 0 cosponsors

Cost estimate: No cost estimate published yet.

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 Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s681.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s681 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112