HR 4267
Independent and Community Bank Shareholders Protection Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Independent and Community Bank Shareholders Protection Act, aims to provide greater protection for shareholders of small financial institutions that are placed under conservatorship or receivership by the Federal Deposit Insurance Corporation (FDIC). It allows shareholders to file claims with the FDIC for ‘just compensation,’ calculated based on their pro-rata share of the institution’s net worth at the time of conservatorship. The legislation also establishes a 90-day statute of limitations for these claims and outlines specific rules for savings associations and claims arising from actions before the bill’s enactment.
Sponsors
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Primary sponsor
Steve Watkins
Cosponsor
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