H. Res. 956: H.R. 4173 - Wall Street Reform and Consumer Protection Act of 2009

COMMITTEE ACTION: REPORTED BY A VOICE VOTE on Tuesday December 8, 2009.
FLOOR ACTION: ADOPTED BY A RECORD VOTE OF 235-177 on Wednesday, December 9, 2009.

MANAGERS: Perlmutter/Sessions

111th Congress 
1st Session

H.RES 956

[Report No. 111-365]

 H.R. 4173 - Wall Street Reform and Consumer Protection Act of 2009

  1. General debate rule.
  2. Provides three hours of general debate with two hours to be equally divided and controlled by the chair and ranking minority member of the C ommittee on Financial Services, 30 minutes to be equally divided and controlled by the chair and ranking minority member of the Committee on Agriculture, and 30 minutes to be equally divided and controlled by the chair and ranking minority member of the Committee on Energy and Commerce.
  3. Waives all points of order against consideration of the bill except for clauses 9 and 10 of rule XXI.
  4. Provides that the amendment printed in the Rules Committee report shall be considered as adopted in the House and in the Committee of the Whole.
  5. Provides that no further consideration of the bill shall be in order except pursuant to a subsequent order of the House.
  6. Provides that the Chair may entertain a motion that the Committee rise only if offered by the chair of the Committee on Financial Services or his designee.

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RESOLUTION

Resolved, That at any time after the adoption of this resolution the Speaker may, pursuant to clause 2(b) of rule XVIII, declare the House resolved into the Committee of the Whole House on the state of the Union for consideration of the bill (H.R. 4173) to provide for financial regulatory reform, to protect consumers and investors, to enhance Federal understanding of insurance issues, to regulate the over-the-counter derivatives markets, and for other purposes. The first reading of the bill shall be dispensed with. All points of order against consideration of the bill are waived except those arising under clause 9 or 10 of rule XXI. The amendment printed in the report of the Committee on Rules accompanying this resolution shall be considered as adopted in the House and in the Committee of the Whole. General debate shall be confined to the bill, as amended, and shall not exceed three hours, with two hours equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services, 30 minutes equally divided and controlled by the chair and ranking minority member of the Committee on Agriculture, and 30 minutes equally divided and controlled by the chair and ranking minority member of the Committee on Energy and Commerce. After general debate, the Committee of the Whole shall rise without motion. No further consideration of the bill shall be in order except pursuant to a subsequent order of the House.

Sec. 2. During consideration of H.R. 4173 pursuant to this resolution, the Chair of the Committee of the Whole may entertain a motion that the Committee rise only if offered by the chair of the Committee on Financial Services or his designee.

Summary of amendment proposed to be considered as adopted
 

The amendment addresses jurisdictional concerns among the committees of jurisdiction affected by H.R. 4173.  The amendment also contains a revised version of HR 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009, which was passed by the House on May 7 by a vote of 300-114, updated to conform with the pending legislation.  The amendment includes reverse mortgages in the definition of a ‘qualified mortgage’ subject to provisions of the Truth in Lending Act (TILA).  The amendment also makes the bill paygo compliant. 

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