Restoring Proven Financing for American Employers Act - Amends the Bank Holding Company Act of 1956 with respect to certain prohibitions on proprietary trading by banking entities and certain relationships with hedge funds and private equity funds (Volcker Rule).
Prohibits the Volcker Rule from being construed to require divestiture of any debt securities of collateralized loan obligations issued before January 31, 2014.
Declares that a banking entity shall not be considered to have an ownership interest in a collateralized loan obligation because it acquires or retains a debt security in it if the debt security has no indicia of ownership other than the right of the banking entity to participate in the removal for cause, or in the selection of a replacement after removal for cause or resignation, of an investment manager or investment adviser of the collateralized loan obligation.
Defines "collateralized loan obligation" as any issuing entity of an asset-backed security comprised primarily of commercial loans.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2014-04-30 | IntroReferral | Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. | Senate |
| 2014-04-29 | Floor | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3257) | House floor actions |
| 2014-04-29 | Floor | DEBATE - The House proceeded with forty minutes of debate on H.R. 4167. | House floor actions |
| 2014-04-29 | Floor | Considered under suspension of the rules. (consideration: CR H3257-3261) | House floor actions |
| 2014-04-29 | Floor | Mr. Garrett moved to suspend the rules and pass the bill, as amended. | House floor actions |
| 2014-03-14 | Committee | Ordered to be Reported (Amended) by the Yeas and Nays: 53 - 3. | House committee actions |
| 2014-03-14 | Committee | Committee Consideration and Mark-up Session Held. | House committee actions |
| 2014-03-06 | IntroReferral | Referred to the House Committee on Financial Services. | House floor actions |
| 2014-03-06 | IntroReferral | Introduced in House | Library of Congress |
| 2014-02-26 | Committee | Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Introduction and Referral. | House committee actions |