Requires each applicant for a single-family home mortgage to provide the lender information to verify the applicant's citizenship or alien status through the E-Verify program if the home mortgage is to be: (1) newly insured under the Federal Housing Administration (FHA) mortgage insurance program of the Department of Housing and Urban Development (HUD)\; (2) newly purchased by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac)\; or (3) newly made, insured, or guaranteed by the Secretary of Veterans Affairs (VA) or by any other agency or entity of the federal government.
To reduce waste, fraud, and error in Government programs by making improvements with respect to Federal management and debt collection practices, Federal payment systems, Federal benefit programs, and for other purposes.
To revise the banking and bankruptcy insolvency laws with respect to the termination and netting of financial contracts, and for other purposes.
To amend title 11 of the United States Code to require the public disclosure by trusts established under section 524(g) of such title, of quarterly reports that contain detailed information regarding the receipt and disposition of claims for injuries based on exposure to asbestos, and the filing of such reports with the Executive Office for United States Trustees.
To extend for 6 additional months the period for which chapter 12 of title 11 of the United States Code is reenacted.
To amend the Truth in Lending Act and the Federal Deposit Insurance Act to prohibit payday loans based on checks drawn on, or authorized withdrawals from, depository institutions and to prohibit insured depository institutions from making payday loans, and for other purposes.
To extend for 3 additional months the period for which chapter 12 of title 11 of the United States Code is reenacted.
To amend the Truth in Lending Act to prevent certain unfair practices by credit card issuers, and for other purposes.
Provides a number of provisions governing liability in response to the BP oil spill, including amending the Bankruptcy Code to prohibit a trustee in bankruptcy from selling or leasing, except in the ordinary course of business, any property of the estate of a debtor that is liable for a claim arising from an incident under the Oil Pollution Act of 1990, to a purchaser (together with any affiliate) in an aggregate dollar amount exceeding a specified amount under the Clayton Act unless: (1) the purchaser (and affiliate) agree as a condition of the sale to pay the amount of allowed unsecured claims arising from the incident not paid by the debtor\; or (2) all classes of unsecured claims approve the sale of such assets.
To amend title 28, United States Code, to provide an additional bankruptcy judge for the eastern district of California, and for other purposes.