Mutual Bank Capital Opportunity Act of 2015
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HR 1661 — Mutual Bank Capital Opportunity Act of 2015
Last action — Referred to the House Committee on Financial Services.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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Died in session
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Mutual Bank Capital Opportunity Act of 2015 Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue mutual capital certificates that qualify as common equity Tier 1 capital for purposes of capital requirements mandated by federal law or regulation. Defines "mutual capital certificate" as a financial instrument issued by a mutual depository that entitles the holder to a payment of fixed, variable, or participating dividends (if its board of directors so declares) but no voting or member rights, nor is it redeemable until five years after issuance. Defines "mutual depository" as an insured depository institution operating in a non-stock form, including a federal non-stock depository and any form of non-stock depository provided for under state law, whose deposits are insured by an instrumentality of the federal government.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 1661 on the official United States source →Action History
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Referred to the House Committee on Financial Services.
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Introduced in House
Sponsors
- Keith Rothfus · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does HR 1661 do?
- Mutual Bank Capital Opportunity Act of 2015 Amends the Federal Deposit Insurance Act to authorize a mutual depository to issue mutual capital certificates that qualify as common equity Tier 1 capital for purposes of capital requirements mandated by federal law or regulation. Defines "mutual capital certificate" as a financial instrument issued by a mutual depository that entitles the holder to a payment of fixed, variable, or participating dividends (if its board of directors so declares) but no voting or member rights, nor is it redeemable until five years after issuance. Defines "mutual depository" as an insured depository institution operating in a non-stock form, including a federal non-stock depository and any form of non-stock depository provided for under state law, whose deposits are insured by an instrumentality of the federal government.
- Who sponsors HR 1661?
- HR 1661 is sponsored by Keith Rothfus (R).
- What is the current status of HR 1661?
- This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HR 1661?
- Track HR 1661 free on One Click Politics — get push/email alerts when it moves.
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