| Sponsor | Rep. Westmoreland, Lynn |
| Date | December 20, 2011 (112th Congress, 1st Session) |
| Staff Contact | Jon Hiler |
On Monday, December 19, 2011, the House is scheduled consider a Senate Amendment to H.R. 2056 under a suspension of the rules, requiring a two-thirds majority vote for passage. The resolution was introduced by Rep. Lynn Westmoreland (R-GA) on May 31, 2011, and was approved by the House on July 28, 2011 by voice vote. The bill was approved with an amendment in the Senate on December 17, 2011 by voice vote.
H.R. 2056 would require the Inspector General of the Federal Deposit Insurance Corporation (FDIC) to study the impact of the failure of insured depository institutions. Specifically, H.R. 2056 would require the study to detail:
- The impact of loss-sharing agreements (LSAs) on the insured depository institutions that survive and the borrowers of insured depository institutions that fail;
- The effect of FDIC policies and procedures regarding maturing LSAs;
- The methods of ensuring the orderly end of expiring LSAs to prevent any adverse impact on borrowing, the real estate industry, and the Depositors Insurance Fund;
- The significance of certain paper losses, with specified factors for consideration;
- The success of FDIC field examiners in implementing specified FDIC guidelines regarding workouts and commercial real estate loans;
- The application and impact of consent orders and cease and desist orders;
- The application and impact of FDIC policies; and
- The FDIC’s handling of potential investment from private equity companies in insured depository institutions.
The bill would require the FDIC make available from the portion of the FDIC budget allocated to management expenses, sums allowing the FDIC Inspector General to complete this study.
At press time, the Congressional Budget Office has not produced a score for H.R. 2560.