To create a charter for Federal Financial Services and Credit Companies.
FFSCC Act of 2010 - Authorizes the Comptroller of the Currency to provide for the organization, incorporation, examination, operation, regulation, and chartering of Federal Financial Services and Credit Companies (FFSCCs) to: (1) extend short-term and long-term credit; and (2) implement financial literacy programs.
Imposes an annual fee upon FFSCCs payable to the Comptroller to offset the cost of implementing this Act.
Directs the Comptroller to: (1) study rates and terms used in the extension of credit; and (2) develop a suite of FSCC financial products that will be fair to underbanked persons and economically viable for FFSCCs to offer.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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