Voting Record on Legislation Involving Federal, State, and Local Relations
(2010) S Amdt 4051 Prohibiting Funding of State and Local Governments to Prevent Defaulting on Debt
Outcome: Amendment Rejected (47/50)
Summary: -Prohibits the Secretary of the Treasury from directly or indirectly using general fund revenues or funds borrowed pursuant to Title 31 of U.S. Code to purchase or guarantee any asset or obligation of (or to provide any other assistance to) any state, municipal, local, or county government that has defaulted on its obligations or is at risk of doing so without such assistance from the federal government (Sec. 5).
-Prohibits the Board of Governors of the Federal Reserve System from directly or indirectly lending against, purchasing, or guaranteeing any asset or obligation of, or providing any other assistance to any state, municipal, local, or county government that has defaulted on its obligations or is at risk of doing so without such assistance from the federal government (Sec. 5).
Byrd's Vote
-
(2010) S Amdt 4034 Federal Preemption Over State Consumer Financial Laws
Outcome: Amendment Rejected (43/55)
Summary: -Repeals a requirement that the courts or the Comptroller of the Currency, before prescribing a regulation or order that federal law preempts a state consumer financial law, consult with the Director of the Bureau of Consumer Financial Protection and determine that federal law provides a "substantial standard" which regulates the particular conduct, activity, or authority of a national bank that is subject to state consumer financial law (Sec. 1044).
Byrd's Vote
Y
(2010) S Amdt 4071 Amending State Authority to Enforce Consumer Financial Regulations
Outcome: Amendment Adopted (80/18)
Summary: -Authorizes state attorney generals, or the equivalent thereof, to bring civil action against national banks or federal savings associations to enforce regulations established by the Bureau of Consumer Financial Protection, provided that a copy of the complaint has been "timely" submitted to the Bureau and prudential regulator, if any, or the designee thereof (Sec. 1042).
-Prohibits state attorney generals, or the equivalent thereof, from bringing civil action against a national bank or federal savings association for any act or omission that would be a violation of Title X of this Act (Consumer Financial Protection Act of 2010) (Sec. 1042).
