-Specifies that if the Secretary determines, based on gathered information, that there is a reasonable probability that ingesting an article of food will cause series adverse health consequences or death, he or she shall provide the responsible party with an opportunity to stop distribution of or recall the food, and if the responsible party refuses to recall or stop distribution the Secretary may require them to do so (Sec. 206).

-Requires the Secretary of Health and Human Services to identify high-risk facilities and allocate resources to inspect those facilities according to the risks, which shall be based on the following factors (Sec. 201):
          -The known safety risks of the food manufactured, processed, packed, or held in the facility;
          -The compliance history of the facility;
          -The rigor and effectiveness of the facility's hazard analysis and risk-based preventive controls;
          -Whether the food at the facility meets the criteria for priority;
          -Whether the food at the facility has received certification; and
          -Any other criteria deemed necessary and appropriate by the Secretary.

-Requires that beginning on the date of enactment of this bill the Secretary shall increase the frequency of inspections of all facilities, as follows (Sec. 201):
          -For domestic high-risk facilities, at least one inspection shall be conducted within the 5-year period following the enactment of this bill, and at least every 3 years thereafter;
          -For domestic non-high-risk facilities, which include all domestic facilities that are not classified as high-risk, at least one inspection shall be conducted within the 7-year period following the enactment of this bill, and at least every 5 years thereafter;
          -For foreign facilities, at least 600 inspections shall be conducted within 1 year following the enactment of this bill; and
          -For foreign facilities, twice the number of inspections conducted the previous year shall be conducted each year for 5 years, beginning the year after enactment of this bill.

-Authorizes the Secretary of Health and Human Services to inspect records related to food if there is a possibility that the use of or exposure to food will cause "serious adverse health consequences or death to humans or animals" (Sec. 101).

-Authorizes the Secretary to suspend the registration of a facility if it is found that food manufactured, packed, processed or received at that facility has a "reasonable probability" of causing serious adverse health consequences or death (Sec. 102).

-Prohibits all facilities whose registrations have been suspended to import or export food into the United States (Sec. 102).

-Requires owners, operators and those in charge of a facility to evaluate hazards that could affect the packaging, processing or manufacturing of foods and identify, implement, and document "preventive controls" to minimize or prevent such hazards, with the following exceptions including, but not limited to (Sec. 103):
          -If the facility is a "very small business"; or
          -If the facility has average annual sales of less than $500,000.

-Requires the Secretary, no later than 18 months after the enactment of this bill, to promote regulations to (Sec. 103):
          -Establish science-based minimum standards for conducting hazard analysis, documenting hazards, implementing preventive controls and documenting the implementation of preventative controls; and
          -Define the terms "small business" and "very small business" as they apply to this act.

-Requires the Secretary of Health and Human Services, in conjunction with the Secretary of Agriculture, to publish proposed rules for establishing "science-based minimum standards" for the safe production and harvesting of fruits and vegetables within one year of the enactment of this bill (Sec. 105).

-Requires the Secretary to assess and collect fees from the following (Sec. 107):
          -The responsible party for each domestic facility or the United States agent for every foreign facility to cover re-inspection costs;
          -The responsible party for each domestic facility or an importer that does not comply with a recall order;
          -Importers participating in the voluntary qualified importer program to cover administrative costs; and
          -Each importer subject to re-inspection to cover re-inspection costs.

-Requires the Secretary of Health and Human Services to develop guidelines, no later than 1 year after the enactment of this bill, to be used on a voluntary basis to manage the risk of food allergy and anaphylaxis in schools and early childhood education facilities (Sec. 112).

-Requires the Secretary of Health and Human Services to notify the Secretary of Homeland Security when a food is denied entrance into the United States so that such food can be denied at any other port of entry (Sec. 115).

-Specifies that nothing in this act shall apply to a facility that (Sec. 116):
          -Is required to obtain a permit or to register with the Secretary of the Treasury in order to do business in the United States; and
          -Is engaged in manufacturing, processing, packing, or holding of 1 or more alcoholic beverages.

-Requires the Secretary of Health and Human Services, in consultation with the Secretary of Homeland Security, to allocate resources to inspect any food item imported into the United States according to the known safety risks of the food, and the compliance history of the importer (Sec. 201).

-Requires the Secretary of Health and Human Services to perform the following no later than 2 years after the enactment of this bill (Sec. 202):
          -Establish a program for the testing of food by accredited laboratories;
          -Establish a publicly available registry of accredited laboratories and accreditation bodies recognized by the Secretary; and
          -Require, as a condition of recognition or accreditation, recognized accredited bodies to report to the Secretary any changes that might affect accreditation.

-Requires that, no later than 30 months after the date of enactment of this bill, food testing be conducted by accredited laboratories, and results from the food tests be sent directly to the Food and Drug Administration, unless the Secretary determines that such results do not contribute to the protection of public health (Sec. 202).

-Requires the Secretary, within 270 days of the enactment of this bill, to establish pilot projects in coordination with the food industry to explore methods that would rapidly identify food recipients to prevent or mitigate a foodborne illness outbreak (Sec. 204).

-Defines a "foodborne illness outbreak" as an occurrence of 2 or more similar illnesses resulting from ingesting a certain food (Sec. 205).

-Requires the Secretary, acting through the Director of Disease Control and Prevention, to enhance foodborne illness surveillance systems to improve the collection, analysis, reporting and usefulness of data (Sec. 205).

-Requires the Secretary to publish a press release regarding a food recall in order to inform the consumers and retailers to whom the article of food was or may have been distributed, and that this press release shall contain the following minimum information (Sec. 206):
          -The name of the food;
          -A description of the risk associated with the food; and
          -Information about similar articles of food that are not affected by the recall.

-Requires the Administrator of the Environmental Protection Agency in coordination with the Secretaries of Health and Human Services, Homeland Security, and Agriculture, to provide support for and technical assistance to state, local, and tribal governments in preparing for, assessing, decontaminating, and recovering from an agriculture or food emergency (Sec. 208).

-Authorizes the Secretary to do the following (Sec. 306):
          -Enter into agreements and arrangements with foreign governments to facilitate the inspection of foreign facilities; and
          -Direct resources to inspections of foreign facilities, suppliers, and food types, especially those that present a high risk, to help ensure food safety and security.

-Manufacturing, producing, growing, or extracting imported property; -The sale, exchange, or other disposition of imported property; or -The lease, rental, or licensing of imported property.

-The individual commenced employment after September 21, 2010 and before September 22, 2013; -The employer certifies that the individual has been employed to replace another employee who was not a citizen or lawfully present resident of the U.S. and "substantially all" of whose services for the employer were performed outside of the U.S.; -"Substantially all" of the services the individual will perform for the employer will take place within the U.S.; and -The individual is not an individual described in 26 U.S.C. 51(i)(1).

-Financial institutions with assets of $1 billion or less, provided that such investment does not exceed 5 percent of risk-weighted assets; and -Financial institutions with assets of more than $1 billion but no more than $10 billion, provided that such investment does not exceed 3 percent of risk-weighted assets.

-Increasing the availability of credit for small businesses; -Providing funding to minority-owned eligible institutions and other institutions that serve small businesses that are owned by minorities, veterans, and women, and that serve low to moderate-income, minority, and other "underserved" or rural communities; -Protecting and increasing American jobs; -Increasing the opportunity for small business development in areas with unemployment rates that exceed the national average; -Ensuring that financial institutions may apply for capital investments without discrimination based on geography; -Providing transparency with respect to the use of funds; -Minimizing the costs to taxpayers; -Promoting and engaging in financial education to would-be borrowers; and -Providing funding to financial institutions that serve small businesses directly affected by the Deepwater Horizon oil spill, particularly states along the Gulf of Mexico.

-Provides portfolio insurance for business loans based on a separate loan-loss reserve fund for each financial institution; -Requires insurance premiums to be paid by the financial institution lenders and by the business borrowers to the reserve fund to have their loans enrolled in the reserve fund; -Provides for contributions to be made by the state to the reserve fund in amounts at least equal to the sum of the amount of the insurance premium charges paid by the borrower and the financial institution to the reserve fund for any newly enrolled loan; and -Provides its portfolio insurance solely for loans that do not exceed $5 million for borrowers that have 500 employees or less at the time the loan is enrolled in the program.

-For loans in which the balance of the financing outstanding at the time of disbursement exceeds $150,000, the rate is increased from 75 percent to 90 percent of the balance; and -For loans in which the balance of the financing outstanding at the time of disbursement is less than $150,000, the rate is increased from 85 percent to 90 percent of the balance.

-For small businesses, the limit is increased from $1.5 million or $2 million, depending on the purpose of the loan, to $5 million; -For small manufacturers, the limit is increased from $4 million to $5.5 million; -For projects that reduce a borrower's energy consumption by at least 10 percent, the limit is increased from $4 million to $5.5 million; and -For projects that generate renewable energy or renewable fuels, the limit is increased from $4 million to $5.5 million.

-$250,000 for 2008-2009; -$500,000 for 2010-2011; and -$25,000 for 2012 and subsequent taxable years.

-$800,000 for 2008-2009; -$2 million for 2010-2011; and -$200,000 for 2012 and subsequent taxable years.

-Existing law:
-$500 million for fiscal year 2009-2010; -$750 million for fiscal year 2010-2011; -$1 billion for fiscal year 2011-2012; -$1.25 billion for fiscal year 2012-2013; -$1.5 billion for fiscal year 2013-2014; and -$2 billion for fiscal year 2014-2015 and each fiscal year thereafter; and
-New law: $2 billion for fiscal year 2017-2018 and each fiscal year thereafter.

-Financial institutions with assets of $1 billion or less, provided that such investment does not exceed 5 percent of risk-weighted assets; and -Financial institutions with assets of more than $1 billion but no more than $10 billion, provided that such investment does not exceed 3 percent of risk-weighted assets.

-Increasing the availability of credit for small businesses; -Providing funding to minority-owned eligible institutions and other institutions that serve small businesses that are owned by minorities, veterans, and women, and that serve low to moderate-income, minority, and other "underserved" or rural communities; -Protecting and increasing American jobs; -Increasing the opportunity for small business development in areas with unemployment rates that exceed the national average; -Ensuring that financial institutions may apply for capital investments without discrimination based on geography; -Providing transparency with respect to the use of funds; -Minimizing the costs to taxpayers; -Promoting and engaging in financial education to would-be borrowers; and -Providing funding to financial institutions that serve small businesses directly affected by the Deepwater Horizon oil spill, particularly states along the Gulf of Mexico.

-Provides portfolio insurance for business loans based on a separate loan-loss reserve fund for each financial institution; -Requires insurance premiums to be paid by the financial institution lenders and by the business borrowers to the reserve fund to have their loans enrolled in the reserve fund; -Provides for contributions to be made by the state to the reserve fund in amounts at least equal to the sum of the amount of the insurance premium charges paid by the borrower and the financial institution to the reserve fund for any newly enrolled loan; and -Provides its portfolio insurance solely for loans that do not exceed $5 million for borrowers that have 500 employees or less at the time the loan is enrolled in the program.

-For loans in which the balance of the financing outstanding at the time of disbursement exceeds $150,000, the rate is increased from 75 percent to 90 percent of the balance; and -For loans in which the balance of the financing outstanding at the time of disbursement is less than $150,000, the rate is increased from 85 percent to 90 percent of the balance.

-For small businesses, the limit is increased from $1.5 million or $2 million, depending on the purpose of the loan, to $5 million; -For small manufacturers, the limit is increased from $4 million to $5.5 million; -For projects that reduce a borrower's energy consumption by at least 10 percent, the limit is increased from $4 million to $5.5 million; and -For projects that generate renewable energy or renewable fuels, the limit is increased from $4 million to $5.5 million.

-Has been eligible for emergency unemployment compensation; -The benefit year for which the individual was eligible for emergency unemployment compensation has expired; -Has remaining entitlement to emergency unemployment compensation with respect to that benefit year; and -Would qualify for a new benefit year in which the weekly benefit amount of regular compensation is at least either $100 or 25 percent less than the weekly benefit in the aforementioned previous benefit year.

-Has been eligible for emergency unemployment compensation; -The benefit year for which the individual was eligible for emergency unemployment compensation has expired; -Has remaining entitlement to emergency unemployment compensation with respect to that benefit year; and -Would qualify for a new benefit year in which the weekly benefit amount of regular compensation is at least either $100 or 25 percent less than the weekly benefit in the aforementioned previous benefit year.

-Approval must be granted by the following entities in the manner specified in order to recommend the beginning of the liquidation process:
-For "general cases," a 2/3 vote by the Board of Governors of the Federal Reserve and a 2/3 vote by the Board of Directors of the FDIC; -For cases involving brokers or dealers, a 2/3 vote by the Board of Governors of the Federal Reserve System and a 2/3 vote by the members of the SEC; or -For cases involving insurance entities, a 2/3 vote by the Board of Governors of the Federal Reserve and affirmative approval by the Director of the Federal Insurance Office;
-The Secretary of the Treasury, in consultation with the President, must make certain findings, including, but not limited to, the following:
-The financial entity is in default or in danger of default; -The failure of the entity and its resolution under otherwise applicable law would have "serious adverse effects" on financial stability in the United States; and -No "viable" private sector alternative is available to prevent default;
-The board of directors (or similar body) of the financial entity must indicate its approval or disapproval of the appointment of the FDIC as receiver, after which the following will occur:
-If the board of directors or similar body approves, the Secretary of the Treasury shall appoint the FDIC as receiver; or -If the board of directors or similar body disapproves, the Secretary of the Treasury shall petition the U.S. District Court for the District of Columbia for an order authorizing the appointment of the Corporation as receiver.

-If it finds that the determination that the financial entity is in default or in danger of default and satisfies the relevant legal definition of a financial entity is not "arbitrary and capricious," the Court shall issue an order authorizing the receivership; -If it finds that the determination that the financial entity is in default or in danger of default and satisfies the relevant legal definition of a financial entity is "arbitrary and capricious," the Court shall provide to the Secretary a written statement of each reason supporting its determination, and allow the Secretary an "immediate" opportunity to amend and re-file the petition; or -If the Court does not make a determination within 24 hours of receipt of the petition, the petition shall be granted by operation of law and the Secretary shall appoint the FDIC as receiver.

-Creditors and shareholders will bear the losses of the financial entity; -Management and members of the board of directors (or similar body) responsible for the condition of the financial entity will not be retained; and -The FDIC and other appropriate agencies will take "all steps necessary and appropriate" to assure that all parties, including management, directors, and third parties, bear losses "consistent with their responsibility," including actions for damages, restitution, and recoupment of compensation and other gains not compatible with such responsibility.

-Take over the assets of and operate the entity with all of the powers of the members, shareholders, directors, and officers of the financial entity; -Conduct all business of the covered financial entity; -Collect all obligations and money owed to the financial entity; -Perform all functions of the financial entity, in the name of the financial entity; -Manage the assets and property of the financial entity, consistent with "maximization of the value of the assets;" and -Provide by contract for assistance in fulfilling any function, activity, action, or duty of the FDIC as receiver.

-An amount that is equal to 10 percent of the total consolidated assets of the financial entity; and -The amount that is equal to 90 percent of the fair value of the total consolidated assets of each financial entity that are available for repayment.

-Is an option for a purchase or sale of, among other things, currencies, commodities, securities, or any other financial or economic interests or properties; -Provides for any purchase, sale, payment, or delivery that is dependent on an event occurring or not occurring with a potential financial, economic, or commercial consequence; and -That provides for the exchange of 1 or more payments based on the value of 1 or more financial or economic interests, properties (or related interest) that transfers the financial risk associated with a future change in any value without also conveying direct or indirect ownership interest in an asset or liability that incorporates the financial risk.

-Accepting data prescribed by the Commission, and confirming the accuracy of the data submitted; -Providing direct electronic access to the data for the Commission; -Establishing automated systems for the monitoring, screening, and analysis of swap data; and -Maintaining the privacy of all swap transaction information.

-Monitor its trading of security-based swaps to prevent violations of position limits; -Establish risk management systems for managing its day-to-day activities; -Disclose to the CFTC and the prudential regulator information regarding the terms and conditions of its security-based swaps, operations, mechanisms and practices of swap trading, and financial integrity protections relating to swaps; -Provide any requested information to the CFTC; and -Implement structural and institutional safeguards against conflict of interest.

-Monitor all aspects of the insurance industry; -Monitor the extent to which "underserved communities" and low-income individuals have access to affordable insurance; -Recommend to the Financial Stability Oversight Council that it designate an insurer as an entity subject to regulation as a non-blank financial company; -Assist in administering the Terrorism Insurance Program established in the Department of Treasury; -Coordinate federal efforts and develop policy on prudential aspects of international insurance matters; -Determine if State insurance measures are preempted by covered agreements; -Consult with States regarding national and international insurance matters; -Perform any other duties and authorities assigned by the Secretary of the Treasury; -Advise the Secretary of the Treasury on major domestic and international insurance policy issues; and -Have the Director serve in an advisory capacity on the Financial Stability Oversight Council.

-Impose eligibility requirements on nonadmitted insurers in a United States jurisdiction unless the State has adopted nationwide uniform requirements, forms, and procedures; or -Prohibit a surplus lines broker from placing nonadmitted insurance with, or procuring nonadmitted insurance from, a nonadmitted insurer outside the United States that is listed on the Quarterly Listing of Alien Insurers.

-Ensuring consumers are provided with "timely and understandable" information to make "responsible" decisions about financial transactions; -Ensuring consumers are protected from discrimination and "unfair, deceptive, or abusive" acts and practices; -Ensuring that "outdated, unnecessary, or unduly burdensome" regulations are regularly identified and addressed in order to reduce "unwarranted regulatory burdens"; -Ensuring that federal consumer financial laws are enforced consistently; -Ensuring that markets for consumer financial products and services operate "transparently and efficiently" to facilitate access to innovation; -Conducting financial education programs; -Collecting, investigation, and responding to consumer complaints; -Collecting, researching, monitoring, and publishing information relevant to the functioning of markets for consumer financial protection and identifying risks to consumers; -Supervising financial entities for compliance with federal consumer financial law, and taking appropriate enforcement action; -Issuing rules, orders, and guidance in implementing federal consumer financial law; and -Performing support activities as may be necessary or useful to facilitate other functions of the Bureau.

-Provide oversight and enforcement of Federal laws that ensure fair, equitable and nondiscriminatory access to credit; -Coordinate "fair lending efforts"; -Work with private industry, fair lending, civil rights, consumer and community advocates on the promotion of fair lending compliance and education; and -Provide reports to Congress on the Bureau's efforts to fulfill its fair lending mandate.

-10 percent for fiscal year 2010-2011; -11 percent for fiscal year 2011-2012; and -12 percent for fiscal year 2012-2013 and each year fiscal year thereafter.

-Credit history; -Current income; -Expected income; -Current obligations; -Debt-to-income ratio, or the residual income the consumer will have after paying non-mortgage debt and mortgage-related obligations; -Employment status; and -Other financial resources other than equity in the dwelling or property that secures repayment of the loan.

-W-2 forms; -Tax returns; -Payroll receipts; -Financial institution records; or -Other third-party documents that provide "reasonably reliable" evidence of the consumer's income or assets.

-Directing any consumer to a residential mortgage that the consumer lacks a "reasonable ability" to pay; -Directing any consumer to a residential mortgage that has "predatory characteristics," including "equity stripping, excessive fees, or abusive terms"; -Directing any consumer from a residential mortgage for which the consumer is qualified that is a qualified mortgage to a residential mortgage loan that is not a qualified mortgage; -Engaging in lending practices that promote disparities among consumers of equal credit worthiness but of different race, ethnicity, gender, or age; -Mis-characterizing the credit history of a consumer or the residential mortgage loans available to a consumer; -Mischaracterizing, or inducing the mis-characterization of the appraised value of the property securing the extension of credit; and -Discouraging a consumer from seeking a residential mortgage loan secured by a consumer's principal dwelling from another mortgage originator if the mortgage originator is unable to suggest, offer, or recommend to a consumer a loan that is not more expensive than a loan for which the consumer qualifies.

-1.5 or more percentage points for a first lien residential mortgage loan having an original principal obligation amount that does not exceed the amount of the maximum limitation on the original principal obligation; -2.5 or more percentage points for a first lien residential mortgage loan having an original principal obligation amount that does exceed the amount of the maximum limitation on the original principal obligation; or -3.5 or more percentage points for a subordinate lien residential mortgage loan.

-Appraisals of property offered as security for repayment of the consumer credit transaction that is conducted in connection with such transaction in which an individual with an interest in the underlying transaction compensates, coerces, extorts, colludes, instructs, induces, bribes, or intimidates an individual, appraisal management company, firm, or other entity conducting or involved in an appraisal, or an attempt thereof; -Mischaracterizing, or inducing any mischaracterization of, the appraised value of the property securing the extension of credit; -Seeking to influence an appraiser or otherwise to encourage a targeted value in order to facilitate the making or pricing of the transaction; and -Withholding or threatening to withhold timely payment for an appraisal report or for appraisal services rendered when the appraisal report or services are provided for in accordance with the contract between the parties.

-The nature of the operations and the risks borne by the utility; -The financial and operational risks posed by the utility to financial institutions, critical markets, or the broader financial system; -The resources and capabilities of the utility to monitor and control risks; -The "safety and soundness" of the utility; and -The utility's compliance with Title VIII of this bill ("Payment, Clearing, and Settlement Supervision") and the rules and orders prescribed under Title VIII.

-The nature and scope of the designated activities engaged in by the institution; -The financial and operational risks the activities may pose to the "safety and soundness" of the financial institution; -The financial and operational risks the activities may pose to other financial institutions, "critical" markets, or the broader financial system; -The resources and capabilities of the financial institution to monitor and control the risks described in the previous 2 subhighlights; and -The financial institution's compliance with Title VIII of this bill and the rules and orders prescribed under Section 805(a) (regarding risk management standards for "systemically important" activities).

-An action engaged in or "contemplated by" the utility poses an imminent risk of substantial harm to financial institutions, critical markets, or the broader financial system of the United States; or -The condition of the utility poses an imminent risk of substantial harm to financial institutions, critical markets, or the broader financial system.

-The organization's conduct of business as it relates to its own policies, procedures, and rating methodologies; -Conflict of interest management by the organization; -The implementation of ethics policies by the organization; -The internal supervisory controls of the organization; -The governance of the organization; -The activities of the individual designated by the organization to administer certain policies and procedures and to ensure compliance with securities laws, rules and regulations; -The processing of complaints by the organization; and -Policies of the organization governing the post-employment activities of former staff.

-Conduct a "reasonable" investigation of the rated security with regards to the factual elements relied upon by its own methodology for evaluating credit risk; or -Obtain "reasonable" verification of such factual elements from other sources, independent of the issuer and underwriter, that the credit rating agency considered to be competent.

-No less than 5 percent of the credit risk for any such asset that:
-Is not a qualified residential mortgage; or -Is a qualified residential mortgage, if 1 or more of the assets that collateralize the asset- backed security are not qualified residential mortgages; or
-Less than 5 percent of the credit risk for any such asset that is not a qualified residential mortgage if the originator of the asset meets the underwriting standards established by the federal banking agencies that specify the terms, conditions, and characteristics of a loan that indicate a low credit risk.

-Designed to provide liquidity to the financial system; -Not for the purpose of aiding a failing financial company; -The security for loans is sufficient to protect taxpayers from losses; and -The program is terminated in a "timely and orderly fashion."

-The action is being taken to establish a "legitimate short position" in credit default swaps; or -That such buyer is regulated by the Commission as a swap dealer in credit default swaps and is acting as a market-maker or is otherwise engaged in a financial transaction on behalf of a customer.

-The value of the buyer's holdings in valid credit instruments must be equal to or greater than the absolute notional value of the buyer's credit default swaps; and -The reference entity or entities for the buyer's credit default swaps must be the same as the borrower(s) or issuer(s) of the valid credit instrument(s) the buyer owns.

-The value of the dealer's holdings in valid credit instruments must be equal to or greater than the absolute notional value of the dealer's position in credit default swaps; and -The reference entity or entities for the dealer's credit default swaps must be the same as the borrower(s) or issuer(s) of the valid credit instrument(s) the dealer owns.

-Board of Governors of the Federal Reserve System; -Commodity Futures Trading Commission; -National Credit Union Administration; -Pension Benefit Guaranty Corporation; and -Securities and Exchange Commission.

-Board of Governors of the Federal Reserve System; -Commodity Futures Trading Commission; -Department of Housing and Urban Development; -Department of the Treasury; -Federal Deposit Insurance Corporation; -Federal Housing Finance Agency; -National Credit Union Administration; -Securities and Exchange Commission; and -Troubled Asset Relief Program.

-A section within exclusive editorial control for each inspector general that is a member of the Council that highlights the concerns and recommendations of such inspector general, with a focus on the broader financial sector; and -A summary of the general observations of the Council based on the aforementioned editorials submitted by each inspector general, with a focus on measures to improve financial oversight.

-Result of the annual examination by the Office of Credit Ratings, as required by this Act; -Surveillance of credit ratings conducted by the credit rating organization after the ratings are issued; -How the rated instruments performed; -Accuracy of the ratings provided by the credit rating organization as compared to other organizations; -Effectiveness of methodologies used by credit rating organizations; and -Any additional factors the Board determines to be relevant.

-Not less than a majority of members from the investor industry, provided they do not represent issuers; -Not less than 1 member of the issuer industry; -Not less than 1 member of the credit rating agency industry; and -Not less than 1 independent member.

-Provide a discount or in-kind incentive for payment through use of a card or device of another payment card network; -Provide a discount or in-kind incentive for payment by the use of cash, check, debit card, or credit card; or -Establish a minimum or maximum dollar value for any form of payment.

-Both counterparties are swap participants; -The transaction was entered into after the establishment of applicable swap clearing rules or the effective date of the requirement, whichever is later; and -One counterparty directly or indirectly controls, is controlled by, or is under common control with the other counterparty.

-5 percent or less of outstanding swaps that do not qualify as 'bona fide hedging swap transactions'; or -7 percent or less of outstanding swaps and security-based swaps that do not qualify as 'bona fide hedging swap transactions', provided that the aggregate notional value of such swaps that do not qualify as 'bona fide hedging transactions' and were executed in connection with the person's commercial transactions is 2 percent or more of the gross notional value of outstanding swaps.

-The potential change in the value of assets that the person owns, produces, manufactures, processes, or merchandises (or anticipates doing any of the aforementioned things); -The potential change in the cost or value of liabilities that the person owns or anticipates incurring; or -The potential change in the cost or value of goods or services that the person provides, purchases, or anticipates providing or purchasing.

-swap data repositories; -swap dealers and major swap participants; -futures commission merchants; -swap execution facilities; -derivatives clearing organizations; -security-based swap dealers; -registered clearing agencies; -security-based swap execution facilities; and -security-based swap data repositories.

-Credit history; -Current income; -Expected income; -Current obligations; -Debt-to-income ratio, or the residual income the consumer will have after paying non-mortgage debt and mortgage-related obligations; -Employment status; and -Other financial resources other than equity in the dwelling or property that secures repayment of the loan.

-W-2 forms; -Tax returns; -Payroll receipts; -Financial institution records; or -Other third-party documents that provide "reasonably reliable" evidence of the consumer's income or assets.

-The regular periodic payments for the loan may result in an increase of the principle balance or allow the consumer to defer repayment of principal; -The terms result in a scheduled payment that is more than twice as large as the average of earlier scheduled payments ("balloon payments"); or -The points and fees (15 USC 1602(aa)(4)) exceed 3 percent of the total loan amount, unless, for the purposes of calculating such points and fees, the totals attributable to any premium for mortgage guarantee insurance provided by a Federal or state agency shall exclude any amount of points and fees greater than 1 percent of the total loan amount.

-Temporary loans ("bridge loans") with terms of 12 months or less; and -Reverse mortgages.

-Establish asset classes with separate rules for securitizers of different classes of assets; -Establish underwriting standards for each asset class; -Requires securitizers to retain not less than 5 percent of the credit risk for any asset that is transferred, sold, or conveyed through the issuance of an asset-backed security, or less than 5 percent if the securitizer meets the aforementioned underwriting standards; -Prohibits securitizers from directly or indirectly hedging or otherwise transferring the credit risk that securitizers are required to retain; -Specifies the permissible forms of risk retention; -Specifies the minimum required duration of risk retention; -Establishes a total or partial exemption of any securitization, as may be "appropriate in the public interest and for the protection of investors"; -Establishes the allocation of risk retention obligations between securitizers and an originator in the case of securitizers that purchases assets from an originator.

-Require the borrower verify and document the income and assets relied upon to qualify for the loan, including previous employment and credit history; -Require the down payment be equal to at least 5 percent of the purchase price of the property; -For first lien residential mortgage loans with an initial loan to value ratio that is more than 80 percent and not more than 95 percent, require the down payment include a requirement for credit enhancements until the loan value ratio of the residential mortgage loan amortizes to a value that is less than 80 percent of the purchase price; -Establish a method for determining the ability of the borrower to repay the mortgage based on the following factors: -All terms of the residential mortgage, including principal payments that fully amortize the balance of the mortgage over the term of the mortgage; and -The debt to income ratio of the borrower; -Include any other specific standards the federal banking agencies jointly determine are appropriate to ensure "prudent underwriting" of mortgages.

-The lending activities of the mortgage loan originator do not "threaten the safety and soundness of the banking system"; -The mortgage loan originator is not compensated based on the number or value of residential mortgage loan applications accepted, offered, negotiated; -The mortgage loan originator does not offer residential mortgage loans that have an interest rate greater than 0 percent; -The mortgage loan originator does not gain monetary profit from any residential mortgage product or service provided; -The mortgage loan originator has the primary purpose of serving low income housing needs; -The mortgage loan originator has not been prohibited, by statute, from receiving federal funding; and -The mortgage loan originator meets any other requirement that the federal banking agencies determine are appropriate for the "safety and soundness of the banking system."

-Budget of the U.S. Government, as submitted by the President; -Congressional budget; -Statutory Pay-As-You-Go Act of 2010; and -Balanced Budget and Emergency Deficit Control Act of 1985.

-For mortgages purchased during the 12 month period following the 24 or 30 month period in which the Director must determine if the Fannie Mae and Freddie Mac are financially viable, 5 percent of the appraised value of the property; -For mortgages purchased during the 12 month period following the aforementioned 12 month period, 7.5 percent of the appraised value of the property; -For mortgages purchased during the 12 month period following the aforementioned 12 month period, 10 percent of the appraised value of the property.

-Description of the categories of mortgage assets purchased or otherwise procured, and an explanation of the reasons why the Director of the Federal Housing Finance Agency deemed it necessary to purchase each mortgage asset; -Listing of each institution from which mortgage assets were purchased; -Current estimate of the total amount of mortgage assets purchased since the date of appointment of the Federal Housing Finance Agency as conservator and the profit and loss of each mortgage asset; -Description of the categories of mortgage loans modified by Fannie Mae and Freddie Mac, and an explanation of the reasons why the Director deemed it necessary to modify such mortgage loans; -Explanation of the risk analysis procedures in place within Fannie Mae and Freddie Mac with respect to the modification process; -Explanation of the effect of continuing the affordable housing goals of Fannie Mae and Freddie Mac; -Impact on any funding requested and accepted as part of the Amended and Restated Senior Preferred Stock Purchased Agreement; -Assessment of whether the budgetary treatment of the assets and liabilities of Fannie Mae and Freddie Mac is correct; -Explanation of the trouble assets owned by the regulated entities and acquited prior to the conservatorship; and -Description of any changes to the structure of Fannie Mae and Freddie Mac made by the Director and an explanation of how the changes will better enable Fannie Mae and Freddie Mac to be successful during and post conservatorship.

-The role of the federal government in supporting a sustainable housing finance system; -To what extent the federal government, if any, should bear risks in meeting federal housing finance objectives; -How the current structure of the housing finance system can be improved; -How the housing finance system should support the continued availability of mortgage credit to all segments of the market; -How the housing finance system should be structured to ensure that consumers continue to have access to 30-year, fixed rate, pre-payable mortgages and other mortgage products that have simple terms that can be easily understood; -The role of the Federal Housing Administration and the Department of Veterans Affairs in a future housing system; -The impact of amendments to the housing finance system on the financing of rental housing; -The impact of amendments to the housing finance system on the secondary market liquidity; -The role of standardization in the housing finance system; -How the housing finance system in other countries offers insight that can assist the U.S. in amending it's housing finance system; and -The options for transition to an amended housing finance system.

-Gradual reduction and liquidation of Fannie Mae and Freddie Mac; -Privatization of Fannie Mae and Freddie Mac; -Incorporation of the functions of Fannie Mae and Freddie Mac into a federal agency; -Dissolution of Fannie Mae and Freddie Mac into smaller companies; and -Any other measure that the Secretary of the Treasury deems appropriate.

-Transactions for or with a foreign central bank, government of a foreign country, or non-private international financing organization; -Deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations; -Transactions made under the direction of the Federal Open Market Committee; and -Any part of a discussion between Board of Governors members and officers and employees of the Federal Reserve System relating to the 3 aforementioned sub-highlights.

-Consumers are provided with information to make decisions regarding financial transactions; -Consumers are protected from deception; -"Burdensome" regulations are identified and addressed to reduce "unwarranted regulatory burdens"; and -Enumerated consumer protection statutes are enforced consistently to ensure uniform consumer protection.

-Implementing the enumerated consumer protection statutes; -Collecting, investigating, and responding to consumer complaints; -Identifying risks to consumers by studying and publishing information relevant to the functioning of markets; -Supervising nondepository covered persons (certain mortgage loan originators and persons that exhibit a "pattern" of violations of consumer protection statutes) for compliance with the enumerated consumer protection statutes; and -Conducting financial education programs.

-The "Supplemental Appropriations Act, 2008;" -The "Assistance for Unemployed Workers and Struggling Families Act;" and -The "Unemployment Compensation Extension Act of 2008."