Congressional Research Service Reports - 40 Matching Results

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Banking Acquisition and Merger Procedures

Description: This report discusses in general terms the basic process and time line for banking industry acquisitions and mergers and briefly discusses the May 4, 1998 application by Travelers Group to merge with Citicorp. Among the issues discussed are: potential impact on consumers; whether the new entities would be too big to fail; and, whether competitive equity calls for financial modernization legislation with functional regulation of the securities, banking, and insurance sectors of companies offering customers a full range of financial products and services. Legislative developments on financial modernization issues in the 105th Congress are reported in CRS Issue Brief 97034, which is available on the Legislative Information System.
Date: May 19, 1998
Creator: Murphy, M. Maureen
Partner: UNT Libraries Government Documents Department

The Enron Collapse: An Overview of Financial Issues

Description: This report briefly examines the accounting system that failed to provide a clear picture of the firm’s true condition, the independent auditors and board members who were unwilling to challenge Enron’s management, the Wall Street stock analysts and bond raters who missed the trouble ahead, the rules governing employer stock in company pension plans, and the unregulated energy derivatives trading that was the core of Enron’s business. The report also describes related legislation that has received floor or committee action and will be updated regularly.
Date: March 19, 2002
Creator: Jickling, Mark
Partner: UNT Libraries Government Documents Department

Campaign Financing

Description: This is one report in the series of reports that discuss the campaign finance practices and related issues. Concerns over financing federal elections have become a seemingly perennial aspect of our political system, centered on the enduring issues of high campaign costs and reliance on interest groups for needed campaign funds. The report talks about the today’s paramount issues such as perceived loopholes in current law and the longstanding issues: overall costs, funding sources, and competition.
Date: August 19, 2002
Creator: Cantor, Joseph E.
Partner: UNT Libraries Government Documents Department

Campaign Finance: Brief Overview of

Description: On May 2, 2003, the U.S. District Court for the District of Columbia issued its decision in McConnell v. FEC, striking down many key provisions of the law. This report provides a brief overview of the court’s decision and will be updated. The three-judge panel, which was split 2 to 1 on many issues, ordered that its ruling take effect immediately. Since the court has issued its opinion, several appeals have been filed. Under the BCRA expedited review provision, the court’s decision will be reviewed directly by the U.S. Supreme Court. On May 19 the U.S. district court issued a stay to its ruling, which leaves BCRA, as enacted, in effect until the Supreme Court issues a decision.
Date: May 19, 2003
Creator: Whitaker, L. Paige
Partner: UNT Libraries Government Documents Department

Highway Finance: RABA’s Double-edged Sword

Description: This report discusses a possible reduction in federal highway program spending. Congress has chosen to overrule provisions of law that would have reduced the FY2003 spending level to $23.2 billion, and has instead settled on $31.8 billion, the same as the FY2002 level.
Date: May 19, 2003
Creator: Fischer, John W.
Partner: UNT Libraries Government Documents Department

Consumer Bankruptcy and Household Debt

Description: Financial distress is most common among lower-income families, but its incidence has grown in all income brackets. This trend suggests that explanations for the rise in consumer bankruptcy filings are more likely to be found in micro-analysis of individuals and groups of debtors than in macroeconomic indicators. This report presents statistics on bankruptcy filings, household debt, and households in financial distress.
Date: August 19, 2003
Creator: Jickling, Mark
Partner: UNT Libraries Government Documents Department

Comparison of Tax Incentives of Domestic Manufacturing in Current Legislative Proposals

Description: This report presents two approaches that have quite different implications for tax administration and Compliance. First, additional domestic investment would have both a direct tax benefit effect, and an indirect effect through increasing the ratio of domestic to world production. Secondly, if one considers the other provisions of H.R. 2896 and S. 1637, these provisions provide benefits (in some cases quite large benefits) to investment overseas that could more than offset any domestic incentive.
Date: November 19, 2003
Creator: Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department

Campaign Finance Law: The Supreme Court Upholds Key Provisions of BCRA in McConnell v. FEC

Description: This report discusses the Supreme Court's decision in McConnell v. FEC. The court upheld against facial constitutional challenges key portions of the Bipartisan Campaign Reform Act of 2002 (BCRA), (P.L. 107-155, commonly known as the McCain-Feingold or Shays-Meehan campaign finance reform law).
Date: December 19, 2003
Creator: Whitaker, L. P.
Partner: UNT Libraries Government Documents Department

Campaign Finance

Description: Concerns over financing federal elections have become a seemingly perennial aspect of our political system, long centered on the enduring issues of high campaign costs and reliance on interest groups for needed campaign funds. This report discusses campaign finance practices, enduring issues and today’s paramount issues. In addition it presents the Legislative Action in the 108th and 109th Congress, as well as the Congressional efforts to close perceived loopholes in Federal Election Law.
Date: May 19, 2005
Creator: Cantor, Joseph E.
Partner: UNT Libraries Government Documents Department

Subprime Mortgages: Primer on Current Lending and Foreclosure Issues

Description: This report discusses the issue of subprime mortgages, which are loans extended to borrowers with weak credit profiles. Subprime mortgages entail higher risk of delinquency and default. Recent increases in subprime borrower foreclosures and lender bankruptcies have prompted concerns that some lenders’ underwriting guidelines are too loose and that some borrowers may not have fully understood the risks of the mortgage products they chose. Regulatory agencies are revisiting the guidance they provide lenders and are reevaluating required disclosures to consumers. In addition, Congress is holding hearings on the subject and may consider consumer protection legislation.
Date: March 19, 2007
Creator: Murphy, Edward Vincent
Partner: UNT Libraries Government Documents Department

Housing and Economic Recovery Act of 2008

Description: This report discusses the Housing and Economic Recovery Act of 2008, P.L. 110-289, which changes many laws affecting both the housing and mortgage markets. It also surveys the most important changes caused by the act.
Date: August 19, 2008
Creator: Weiss, N. E.; Getter, Darryl E.; Jickling, Mark; Keightley, Mark P. & Foote, Bruce E.
Partner: UNT Libraries Government Documents Department

Tax Expenditures and the Federal Budget

Description: This report discusses tax expenditures, the federal budget and the reform of the federal tax system and provides tax expenditure analysis. The perception that the federal tax system is too complex and unfair could lead to public support for tax reform. Past efforts to reform the federal tax system have included policies to rein in the use and expense of tax expenditures--the special deductions, exclusions, exemptions, and credits resulting in revenue losses.
Date: August 19, 2008
Creator: Hungerford, Thomas L.
Partner: UNT Libraries Government Documents Department

National Flood Insurance Program: Treasury Borrowing in the Aftermath of Hurricane Katrina

Description: In 2008, Hurricanes Ike, Gustav, and Dolly made landfall in the United States, causing widespread flood damage. Exactly three years earlier, claims and expenses related to the massive flooding caused by Hurricanes Katrina, Rita, and Wilma had financially overwhelmed the National Flood Insurance Program (NFIP). The Federal Emergency Management Agency (FEMA) estimates that the NFIP will need about $3 billion in additional borrowing authority to cover the claims currently outstanding and a yet to be determined amount for the 2008 Hurricanes. Congress is currently working to reform the NFIP while retaining its original intent to keep rates affordable for people to buy the insurance.
Date: September 19, 2008
Creator: King, Rawle O.
Partner: UNT Libraries Government Documents Department

The Labor Market during the Great Depression and the Current Recession

Description: This report analyzes the labor market experiences of workers during the 1930s, which encompassed the almost five years of the Great Depression. Because it was a period very distant and different from today, considerable time is devoted to examining the employment and unemployment measures available at that time. The report ends by comparing the labor market conditions of the 1930s with those encountered by workers thus far during the recession that began in December 2007.
Date: June 19, 2009
Creator: Levine, Linda
Partner: UNT Libraries Government Documents Department