logout

Store Research

Federal Government, Following the Money

Some bill research does not include the Governor's file because at the time we researched the bill, the sitting Governor had not released his chaptered bill file. If the Governor's file is not included with this particular research, please contact our office (1-530-666-1917 or quote@legintent.com) and we will be happy to provide this file at no charge if it is available. Please Note: Governor files did not exist prior to 1943.

Federal Legislation:  “Follow the money” takes on new meaning in the 111th Congress.  States and the federal government share jurisdiction in the area of banking under the unique American dual banking system.  States apply state laws and regulations to serve the needs of local economies, values and local concerns.  While states are the sole regulators of insurance, the federal government is primarily responsible for regulating the nation’s securities markets.  States also serve as critical partners investigating fraud, educating the public, and punishing criminals.  The recent federal “Restoring American Financial Stability Act of 2010 ” highlights the controversial importance of this issue in our current economy.  The April 30, 2010 Senate Committee on Banking, Housing, and Urban Affairs Report accompanying this federal legislation noted that S. 3217 was “a direct and comprehensive response to the financial crisis that nearly crippled the U.S. economy beginning in 2008.”  (See Sen. Rpt. 111-176 , page 2)  On May 20th, the Senate passed H.R. 4173 in lieu of S. 3217.  A conference was called to reconcile the two bills’ reform provisions.