S.Amdt. 390

SA 390. Ms. SNOWE (for herself and Mr. Wyden) submitted an amendment
intended to be proposed to amendment SA 98 proposed by Mr. Inouye (for
himself and Mr. Baucus) to the bill H.R. 1, making supplemental
appropriations for job preservation and creation, infrastructure
investment, energy efficiency and science, assistance to the
unemployed, and State and local fiscal stabilization, for fiscal year
ending September 30, 2009, and for other purposes; which was ordered to
lie on the table; as follows:

At the end of division B, add the following:

TITLE VI--INCREASED LENDING BY ASSISTED FINANCIAL INSTITUTIONS

SEC. 6001. LENDING REQUIREMENTS.

Section 113(a) of the Emergency Economic Stabilization Act
of 2008 (12 U.S.C. 5223(a)) is amended by adding at the end
the following:
``(4) Lending requirements.--
``(A) In general.--The Secretary may not exercise the
authority to provide assistance under the TARP with respect
to a financial institution, unless, to the extent that such
financial institution is without major capital shortfalls--
``(i) the financial institution certifies in writing that
it will increase lending above the lending levels in place at
the time of the provision of the assistance; and
``(ii) in the case of a financial institution that has
previously received assistance under the TARP, the financial
institution has increased its lending levels above the
lending levels in place immediately prior to having received
the previous disbursement.
``(B) Repayment required.--If the Secretary finds that a
financial institution that is required to comply with the
lending requirements of subparagraph (A) is not making
sufficient progress toward achieving such requirements, the
Secretary shall require immediate repayment of the assistance
provided under the TARP.''.
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